ishares PRODUCT RANGE CHANGES Proposed Mergers

Transcription

1 FOR PROFESSIONAL CLIENTS/ QUALIFIED INVESTORS ONLY ishares PRODUCT RANGE CHANGES Proposed Mergers On 1 July 2013 BlackRock completed the acquisition of the Credit Suisse business ( CS ). With the purchase complete, BlackRock has been working on integrating CS into the ishares business. A key component of this is the continued review and integration of the product ranges; on 2 May 2014 BlackRock proposed a merger of three Large Cap US equity funds. These mergers have been approved by investors and will take effect in early August. What is happening now? BlackRock and the Directors of ishares III plc, ishares V plc, ishares VI plc and (the Directors ) are proposing nine additional mergers of ishares funds, detailed in the table below. The proposed mergers require the approval of the shareholders of the relevant Merging Funds 1 at duly convened Extraordinary General Meetings ( EGMs ), which will take place on Monday 14 July If approved at these EGMs the mergers will take place on Monday 18 August 2014 (the Effective Date ). The Merging Funds in the table will, if approved by their shareholders, merge into the Receiving Funds 2. Why ishares? Professional quality ishares delivers quality products to help you navigate today s volatile markets Individual choice As your partner ishares helps you execute investment ideas with insights and support Responsible innovation ishares is an industry leader in making investing clear, fair and efficient. Merging Fund 1 Primary Ticker / ISIN Reasons for the mergers Fund Company 30 May 2014 AUM (000s) Receiving Fund 2 Following the acquisition by BlackRock of CS on 1 July 2013 BlackRock has reviewed its Irish-domiciled ishares fund range. This review has considered a number of features of the expanded ishares range including the size of the funds, the existence of duplicate strategies in the range and operational efficiencies. Following this review and on BlackRock s recommendation, the Directors have proposed these mergers in order to consolidate funds which track the same benchmark indices or provide very similar exposures. The Directors believe that consolidating the funds will bring greater operational efficiencies which will benefit shareholders. In addition, it is expected that the mergers will result in increased secondary market liquidity in the resulting merged funds owing to their subsequent larger sizes. Primary Ticker / ISIN Fund Company 30 May 2014 AUM (000s) C$312,199 ishares EURO STOXX 50 SEUA (Acc) 3 IE00B4L5YV07 ishares III plc 127,441 ishares Core EURO STOXX 50 CSSX5E IE00B53L3W79 127,892 ishares MSCI USA SSAM IE00B60YJY07 ishares V plc $182,101 ishares MSCI USA B UCITS CSUS IE00B52SFT06 $219,563 ishares MSCI Canada UCITS SCAN IE00B534JR37 ishares III plc $207,664 ishares MSCI Canada B CSCA IE00B52SF786 ishares MSCI Europe B UCITS CSEU IE00B53QFR17 51,400 ishares MSCI Europe UCITS SMEA IE00B4K48X80 ishares III plc 194,062 ishares MSCI World B UCITS CSWD IE00B3NBFN86 $70,897 ishares Core MSCI World UCITS SWDA IE00B4L5Y983 ishares III plc $1,067,486 ishares MSCI Japan Small Cap CSJPS (Acc) IE00B3VWMK93 6,680,468 ishares MSCI Japan SmallCap ISJP (Inc) 4 ishares III plc IE00B2QWDY88 $108,267 ishares MSCI Mexico IMI SMEX Capped IE00B6R51W86 ishares VI plc $39,348 ishares MSCI Mexico Capped CSMXCP IE00B5WHFQ43 $87,549 ishares MSCI UK Large Cap CSUKL IE00B3VWKZ07 15,389 ishares MSCI UK CSUK IE00B539F ,105 ishares MSCI Japan Large Cap CSJPL IE00B3VWM213 4,417,458 ishares MSCI Japan B UCITS CSJP IE00B53QDK08 127,591,625 1 Merging Funds the funds that will be consolidated into the Receiving Funds and closed after the proposed mergers; shareholders in the Merging Funds will receive shares in the Receiving Funds upon the proposed mergers 2 Receiving Funds the funds that will receive the assets from the Merging Funds and continue to trade after the proposed mergers 3 Acc = Accumulating Fund any income received by the fund will be reinvested 4 Inc = Income Fund any income received by the fund will be distributed to investors

2 Benefits to shareholders The Directors believe that it is in the best interests of shareholders in general to approve the mergers. However, please note that the Directors have not examined the suitability of the mergers in respect of individual shareholders needs or risk tolerances and shareholders are advised to seek independent financial / tax advice in respect of their individual circumstances. How do shareholders vote at the EGMs? The notices of the EGMs and forms of proxy for those shareholders who are unable to attend the meetings (or any adjournments thereof) have been sent to shareholders of record in the Merging Funds by post on Friday 13 June The EGMs will be held on Monday 14 July Please note that you are only entitled to vote at the EGMs if you are a registered shareholder. If you have invested in one or more of the Merging Funds and your shares are held through a broker, dealer, central securities depositary or any other intermediary please contact that entity to confirm your right to vote. If you have any queries, please contact your ishares relationship manager or go to If the mergers are approved, what happens between the EGMs and the Effective Date? The EGMs will be held on Monday 14 July If any of the EGMs need to be adjourned they will be reconvened to the same time and place on Monday 21 July If the mergers are approved at the EGMs on 14 July, the Effective Date of the mergers will be Monday, 18 August If any EGM is adjourned and the merger is approved at the reconvened EGM, the Effective Date of such merger will change to Monday 8 September. The relevant dates and times will be as detailed in the table below. EGM of Shareholders, ishares EURO STOXX 50 (Acc) EGM of Shareholders, ishares MSCI USA EGM of Shareholders, ishares MSCI Canada EGM of Shareholders, ishares MSCI Europe B (Acc) EGM of Shareholders, ishares MSCI World B (Acc) Key dates for the mergers Dates and times of the EGMs EGM of Shareholders, ishares MSCI Japan Small Cap (Acc) EGM of Shareholders, ishares MSCI Mexico IMI Capped EGM of Shareholders, ishares MSCI UK Large Cap EGM of Shareholders, ishares MSCI Japan Large Cap Dates and times of the adjourned and reconvened EGMs, if necessary Monday 14 July 10.00am Dublin time Monday 14 July 10.10am Dublin time Monday 14 July 10.20am Dublin time Monday 14 July 10.30am Dublin time Monday 14 July 10.40am Dublin time Monday 14 July 11.00am Dublin time Monday 14 July 11.10am Dublin time Monday 14 July 11.20am Dublin time Monday 14 July 11.30am Dublin time Any reconvened EGM will be held on Monday 21 July 2014, at the same time as the original EGM was held on Monday 14 July 2014 For mergers which are approved at the original EGMs Final exchange trading and dealing day for the Merging Funds on Borsa Italiana Due to a public holiday in Italy on 15 August 2014 the last trading day for the Merging Funds on Borsa Italiana will be one day before the last trading day on all other exchanges on which the funds are listed. Thursday14 August 2014 Final exchange trading and dealing day for the Merging Funds on all other exchanges Friday 15 August 2014 Merger exchange ratios calculated using valuations for each Merging Fund and Receiving Fund pair Effective date and effective time of mergers The Merging Funds will be delisted on the relevant exchanges and thereafter closed. Commencement of dealings in new shares of the Receiving Funds Information on the events will be issued by 8am Dublin time. Processing of the event on receipt of this information will be determined by the service levels agreed with your broker, custodian or central securities depositary. For mergers which are approved at reconvened EGMs Friday 15 August 2014 At the valuation points detailed in the funds prospectuses Monday 18 August 8am Dublin time Monday 18 August 2014 Final exchange trading and dealing day for the Merging Funds Friday 5 September 2014 Merger exchange ratios calculated using valuations for each Merging Fund and Receiving Fund pair Effective date and effective time of mergers The Merging Funds will be delisted on the relevant exchanges and thereafter closed. Commencement of dealings in new shares of the Receiving Funds Information on the events will be issued by 8am Dublin time. Processing of the event on receipt of this information will be determined by the service levels agreed with your broker, custodian or central securities depositary. Friday 5 September 2014 At the valuation points detailed in the funds prospectuses Monday 8 September 8am Dublin time Monday 8 September 2014 If a merger is approved by shareholders of a Merging Fund, on the Effective Date for such merger, shares of such Merging Fund will be exchanged for shares of the corresponding Receiving Fund by your custodian, broker or intermediary. Processing of this event may be dependent on any arrangements you have agreed with your broker, custodian or any other intermediary. If you have any queries, please contact ishares or your broker / custodian / intermediary regarding processing of this change.

3 Costs of the mergers The costs of the mergers including legal, administrative and advisory costs and transfer taxes incurred by the funds will be paid by BlackRock. In addition, in the event that it is necessary to realign the portfolios of underlying securities of any of the funds in order to structure it appropriately for the mergers, the portfolio transaction costs (for example brokerage fees and transaction taxes) incurred in relation to such a realignment of the relevant portfolio will also be borne by BlackRock. Furthermore, BlackRock Asset Management Ireland Limited will reimburse Swiss Effektenhändler for the Swiss Transfer Tax levied on the mergers so that shareholders who hold their shares in the Merging Funds in Swiss custody accounts do not bear this cost. Shareholders who hold any of the Merging Funds funds in a Swiss custody account should pass this notification to their Swiss custodian. Swiss custodians who will be subject to Swiss Transfer Tax in relation to the mergers should contact BlackRock on [email protected] for details of how to obtain reimbursement. Tax consequences for shareholders BlackRock has sought tax advice in the jurisdictions in which the Merging Funds are registered. Information about the tax implications of the mergers can be found in the shareholder notifications which are also available on the relevant fund s product page at Please note that the information given in the shareholder notifications in regards to the tax consequences of the mergers is not exhaustive and does not constitute legal or tax advice. The tax consequences of the mergers may vary depending on your tax status and tax laws in your country of residence or domicile. You should consult your own professional advisers as to the tax implications of the mergers. In most of the proposed mergers the Merging Fund and the Receiving Fund are both accumulation funds (the exception is the proposed merger of ishares MSCI Japan Small Cap (Acc) into ishares MSCI Japan SmallCap (Inc)). In such a merger, private individuals and certain other types of investor located in certain countries are taxed on the accumulated income of a fund for the accounting year if they are invested in that fund at the fund s accounting year end. Countries where this treatment may apply include Austria, Germany, Switzerland and the United Kingdom. The consequence of this basis of taxation is that, where it is not practical to effect the merger to exactly coincide with the accounting year end of the Receiving Fund, investors may be effectively taxed on the income of both the Merging Fund and the Receiving Fund. The proposed Effective Dates of the mergers may give rise to a small period of double taxation, however, investors should consult their own tax advisers as to the implications for them. Other changes affecting these funds Three of the funds involved in the mergers have base currencies of Japanese Yen (ishares MSCI Japan Small Cap UCITS, ishares MSCI Japan Large Cap and ishares MSCI Japan B (Acc)) and one has a base currency of Canadian Dollars (ishares MSCI Canada B ). On 1 August 2014 these four funds will be redenominated to US Dollars. These changes are being made in order to ensure consistency of base currency across the ishares range and also to reduce operational and settlement risk. There will be no changes to the currencies in which these four funds are listed on exchanges. You should consult your broker / custodian / intermediary if you have any questions concerning the valuation or trading of your investment following the base currency change. Three of the Receiving Funds are listed on the Frankfurt Stock Exchange via German Global Bearer Certificates with German ISINs rather than under their Irish ISINs (ishares MSCI Europe (Acc), ishares Core MSCI World and ishares MSCI Japan SmallCap (Inc)). If these mergers are approved by shareholders of the relevant Merging Funds, the Directors intend to list these Receiving Funds on the Frankfurt Stock Exchange under their Irish ISINs and investors holdings of German Global Bearer Certificates (with DE ISINs) in relation to these Receiving Funds will be exchanged for shares in these Receiving Funds (with Irish ISINs) via Clearstream Banking AG, Frankfurt am Main. These changes to the Receiving Funds would happen before the Effective Date(s) of the mergers, and the exact date(s) of such changes will be confirmed in the announcement of the result of the EGM of the relevant Merging Fund (if the merger is approved at the relevant EGM). As of the Effective Date, all shares in the relevant Merging Funds will be exchanged for shares of these Receiving Funds and shareholders, including shareholders trading via the Frankfurt Stock Exchange, will therefore receive shares in these Receiving Funds Irish ISINs. Does BlackRock plan to merge other funds with similar exposures? We continually review our product range to ensure it meets the evolving needs of clients. Our focus is on providing clients with a broad and deep range of solutions that is easy to navigate and enables them to implement their investment ideas.

4 Regulatory Information BlackRock Advisors (UK) Limited, which is authorised and regulated by the Financial Conduct Authority ('FCA'), having its registered office at 12 Throgmorton Avenue, London, EC2N 2DL, England, Tel +44 (0) , has issued this document for access by Professional Clients only and no other person should rely upon the information contained within it. For your protection, calls are usually recorded. ishares plc, ishares II plc, ishares III plc, ishares IV plc, ishares V plc, ishares VI plc and (together 'the Companies') are open-ended investment companies with variable capital having segregated liability between their funds organised under the laws of Ireland and authorised by the Central Bank of Ireland. For investors in Austria The funds mentioned in this document are registered for public offer in Austria. The Sales Prospectuses for the Companies, Key Investor Information Document and other documents as well as the annual and semi-annual reports have been published in Austria and are available free of charge from UniCredit Bank AG Vienna Branch, Julius Tandler Platz 3, 1090 Vienna, Austria, the Austrian paying and information agent and are also available on the website Any decision to invest must be based solely on the information contained in the Company s Prospectus, Key Investor Information Document and the latest half-yearly report and unaudited accounts and/or annual report and audited accounts. Investors should read the fund specific risks in the Key Investor Information Document and the Company s Prospectus. The Companies intend to fulfil the requirements for treatment of all of their sub-funds as reporting funds. Therefore the Companies have an Austrian tax representative who calculates the Austrian Deemed Distributed Income figures once a year and files an electronic tax return with the Austrian Control Bank. However, it cannot be guaranteed that the requirements will be met in the future. The Companies reserve the right to give up the reporting fund status and to not undertake such tax filings For investors in Belgium The funds mentioned in this document are not registered for public distribution in Belgium. Unless indicated otherwise, any decision to invest must be based solely on the information contained in the Company s Prospectus, Key Investor Information Document and the latest half-yearly report and unaudited accounts and/or annual report and audited accounts copies of which can be obtained free of charge from Investors should read the fund specific risks in the Key Investor Information Document and the Company s Prospectus. For investors in Denmark This document is directed at Professional Investors in Denmark only and the Funds are authorised by Finanstilsynet, the Danish Financial Supervisory Authority. Any decision to invest must be based solely on the information contained in the Company s Prospectus, Key Investor Information Document and the latest half-yearly report and unaudited accounts and/or annual report and audited accounts and the Danish country supplements. Investors should read the fund specific risks in the Key Investor Information Document and the Company s Prospectus. Copies of all documentation can be obtained free of charge from offices of the paying agent in Denmark BlackRock Copenhagen Branch, filial af BlackRock Investment Management (UK) Limited Harbour House, Sundkrogsgade 21, 2100 København Ø, Denmark. This document is strictly confidential and may not be distributed without authorisation from BlackRock Advisors (UK) Limited. For investors in Finland The funds mentioned are registered for public distribution in Finland and are authorised by the Finanssivalvonta (Fiva), the Financial Supervisory Authority (FIN-FSA), in Finland. Any decision to invest must be based solely on the information contained in the Company s Prospectus, Key Investor Information Document and the latest half-yearly report and unaudited accounts and/or annual report and audited accounts. Investors should read the fund specific risks in the Key Investor Information Document and the Company s Prospectus. This document is strictly confidential and may not be distributed without authorisation from BlackRock Advisors (UK) Limited. For investors in France Any subscription for shares in a sub-fund of one of the companies will be carried out according to the conditions specified in the full Prospectus, Key Investor Information Document, the French Addendum and in the Supplements of Companies as the case may be. These documents can be obtained by contacting the paying agent of the Company: BNP Paribas Securities Services, 3 rue d'antin, Paris, tel: or by visiting the French part of the site The companies are undertakings for collective investment in transferable securities (UCITS) governed by foreign laws and approved by the Financial Regulator in the home state as a UCITS complying with European regulations. The European Directive 2009/65/EC of July 13, 2009 on UCITS, as amended, establishes common rules in order to allow the cross-border marketing of UCITS which comply with it. This common foundation did not prohibit different methods of implementation. This is why a European UCITS may be marketed in France even though the activity of such scheme would not respect rules identical to those which govern the approval of this type of product in France. This sub fund has been authorized for marketing in France by the Autorité des Marchés Financiers. Please note that the distribution of shares of some sub funds of funds is not allowed in France. This document does not constitute an offer or a solicitation in relation to the shares of the funds. For investors in Germany The Sales Prospectus and Key Investor Information Document, as well as the annual and semi-annual reports are available free of charge from Commerzbank Kaiserplatz, Frankfurt am Main, Germany. The Companies intend to fulfil the prerequisites for treatment of their sub-funds as so-called "transparent funds" pursuant to 2 and 4 of the German Investment Tax Act (Investmentsteuergesetz InvStG). However, it cannot be guaranteed that the requirements will be met. The Companies reserve the right to give up the "transparent status" and to not undertake the necessary publications. Any decision to invest must be based solely on the information contained in the Company s Prospectus, Key Investor Information Document and the latest half-yearly report and unaudited accounts and/or annual report and audited accounts. Investors should read the fund specific risks in the Key Investor Information Document and the Company s Prospectus. Please note that important information about ishares VII funds is available in the current prospectus and other documents that can be obtained free of charge from the paying agent, Deutsche Bank AG Taunusanlage 12, Frankfurt am Main, Federal Republic of Germany. For investors in Ireland This document is strictly confidential and may not be distributed without authorisation from BlackRock Advisors (UK) Limited. With respect to funds that are registered for public offer in Ireland, important information on the Companies is contained in the relevant Prospectus, Key Investor Information Document and other documents, copies of which can be obtained by calling , from your broker or financial adviser, by writing to BlackRock Advisors (UK) Limited, ishares Business Development, 12 Throgmorton Avenue, London, EC2N 2DL or by writing to the Manager of the Companies: BlackRock Asset Management Ireland Limited, Block 2, Grand Mill Quay, Barrow Street, Dublin 4, Ireland. Investors should read the fund specific risks in the Key Investor Information Document and the Company s Prospectus. For investors in Italy Any application for shares in the funds is on the terms of the Prospectus, Key Investor Information Document, for the Companies. The Shares of certain sub-funds in the Companies have been admitted to listing in Italy and are currently listed on the Mercato Telematico Fondi of Borsa Italiana S.p.A. The list of the sub-funds listed in Italy, the Prospectus, of the Companies, the Documento di quotazione of the ishares funds, the latest annual and semi annual report of the Companies are published (i) on the Companies' internet website at the address and (ii) on Borsa Italiana S.p.A's website at the address These documents are available for the public in Italian version with certification that such documents are a faithful translation of the original documents. Investors are entitled to receive free of charge, even at home, a copy of the above documents, upon written request forwarded to the Companies. Investors should read the fund specific risks in the Key Investor Information Document and the Company s Prospectus. For comprehensive information on the expenses charged to a fund and fees applicable to investors, see the Documento di quotazione and the Prospectus. For Investors in Luxembourg The Companies have been notified to the Commission de Surveillance du Secteur Financier in Luxembourg in order to market their shares for sale to the public in Luxembourg and the Companies are notified Undertaking in Collective Investment for Transferable Securities (UCITS). The Companies have not been listed on the Luxembourg Stock Exchange, investors should contact their broker for further information. Investment is subject to the Prospectus, Key Investor Information Document and all documents (the main/umbrella Prospectus, the Supplement[s], the latest and any previous annual and semi-annual reports of the Companies and the Memorandum and Articles of Association of the Companies) will be available in the Luxembourg, free of charge, from the offices of the Local Agent, BNP Paribas Securities Services, Luxembourg Branch 33, rue de Gasperich Howald Hesperange L-2085 Luxembourg or by visiting the website on Investors should read the fund specific risks in the Key Investor Information Document and the Company s Prospectus. For investors in Norway The funds mentioned are registered for public distribution in Norway and are authorised by Kredittilsynet, the Financial Supervisory Authority of Norway. Any application for shares in the funds is on the terms of the Prospectus, Key Investor Information Document for the Companies. Any decision to invest must be based solely on the information contained in the Company s Prospectus, Key Investor Information Document and the latest half-yearly report and unaudited accounts and/or annual report and audited accounts. Investors should read the fund specific risks in the Key Investor Information Document and the Company s Prospectus. This document is strictly confidential and may not be distributed without authorisation from BlackRock Advisors (UK) Limited. For investors in Spain The funds mentioned are registered for public distribution in Spain. The sales Prospectus has been registered with the Spanish Securities Market Commission (Comisión Nacional del Mercado de Valores ('CNMV')). The funds which are registered in the official registry of the Spanish Securities and Exchange Commission (CNMV) are ishares plc (registration number 801), ishares II plc (registration number 802) and ishares III plc (registration number 806), ishares IV plc (registration number 1402), ishares V plc (registration number 977), ishares VI plc (registration number 1091), (registration number 886) and ishares (Lux) (registration number 905). The official registry, CNMV, must always be checked to see which sub funds of the funds mentioned are registered for public distribution in Spain. Any decision to invest must be based solely on the information contained in the Prospectus, Key Investor Information Document and the latest half-yearly report and unaudited accounts and/or annual report and audited accounts, copies of which can be obtained free of charge at Investors should read the fund specific risks in the Key Investor Information Document and the Prospectus.

5 For investors in Sweden The Funds mentioned are registered for public distribution in Sweden and are authorised by Finansinspektionen, the Swedish Financial Supervisory Authority. Any application for shares in the funds is on the terms of the Prospectus, Key Investor Information Document, for the Companies. Important information on the Companies is contained in the relevant Prospectus, Key Investor Information Document and other documents, copies of which can be obtained free of charge from offices of the paying agent BlackRock Investment Management (UK) Limited, Stockholm Filial Master Samuelsgatan 1, Box 609 S Stockholm, Sweden. Any decision to invest must be based solely on the information contained in the Company s Prospectus, Key Investor Information Document and the latest half-yearly report and unaudited accounts and/or annual report and audited accounts. Investors should read the fund specific risks in the Key Investor Information Document and the Company s Prospectus. Please note that important information about ishares VII funds is available in the current prospectus and other documents that can be obtained free of charge from the paying agent, Skandinaviska Enskilda Banken AB Sergels Torg 2, SE Stockholm Sweden. For investors in the Netherlands The Companies have been notified to the Authority Financial Markets in the Dutch Financial Markets Supervision Act of Investment Institutions, regulations enacted pursuant thereto and the supervision thereunder of the Authority Financial Markets. Copies of all documents (the main/umbrella Prospectus, Key Investor Information Document, the Supplement[s], the latest and any previous annual and semi-annual reports of the Companies and the Memorandum and Articles of Association of the Companies) will be available in the Netherlands, free of charge, from the offices of the representative in the Netherlands, BlackRock Advisors (UK) Limited, Rembrandt Toren, 17th floor, Amstelplein 1, 1096 HA Amsterdam, Netherlands or by calling the Dutch representative s information request line on Any decision to invest should be based on the information contained in the Prospectus and the key investor Information Document and the latest half-yearly report and unaudited accounts and/or annual report and audited accounts. Investors should read the fund specific risks in the Key Investor Information Document and the Company s Prospectus. For Investors in Portugal The commercialization of the groups of funds ( agrupamentos de fundos ) ishares PLC, ishares II PLC, ishares III PLC, ishares V PLC, ishares VI PLC and ishares VII PLC in Portugal has been duly authorized by the Portuguese Securities Commission ( Comissão do Mercado de Valores Mobiliários or the CMVM ), as published in the Monthly Bulletin of CMVM no 243, of July Investments on these groups of funds and correspondent sub-funds shall be based on their respective prospectuses, Key Investor Information Documents (KIID), and on the latest half-yearly report and unaudited accounts and/or annual report and audited accounts, and other mandatory informative documents. These documents can be obtained, free of charge, on the registered office of the Company BlackRock Advisors (UK) Limited, which is authorized and regulated by the Financial Conduct Authority ("FCA"), with registered office in 12 Throgmorton Avenue, London, EC2N 2DL, United Kingdom, in the registered office and branch offices of the entity BEST Banco Electrónico de Serviço Total, S.A., with registered office in Praça Marquês de Pombal, 3-3rd floor, Lisbon and on the website ishares.com. It is especially recommended to read the specific warnings and risk factors of the KIID and Funds Prospectus. For investors in Switzerland The distribution of the Fund in Switzerland will be exclusively made to qualified investors as defined in the Swiss Collective Investment Schemes Act of 23 June 2006, as amended and its implementing ordinance. Accordingly, some of the Funds have not been registered with the Swiss Financial Market Supervisory Authority ( FINMA ). This document may be made available in Switzerland solely to qualified Investors. In respect of the registered funds, BlackRock Asset Management Schweiz AG, Bahnhofstrasse 39, P.O.Box 2118 CH Zurich, is the Swiss Representative and JPMorgan Chase Bank, National Association, Columbus, Zurich branch, Dreikönigstrasse 21, 8002 Zurich, the Swiss Paying Agent of the Fund. The Prospectus, Key Investor Information Document, the Articles of Incorporation, the latest and any previous annual and semi-annual reports of the Fund are available free of charge from the Swiss representative. Investors should read the fund specific risks in the Key Investor Information Document and the Prospectus. For investors in the UK Most of the protections provided by the UK regulatory system do not apply to the operation of the Companies, and compensation will not be available under the UK Financial Services Compensation Scheme on its default. The Companies are recognised schemes for the purposes of the Financial Services and Markets Act Any decision to invest must be based solely on the information contained in the Company s Prospectus, Key Investor Information Document and the latest half-yearly report and unaudited accounts and/or annual report and audited accounts. Investors should read the fund specific risks in the Key Investor Information Document and the Company s Prospectus. Restricted Investors This document is not, and under no circumstances is to be construed as an advertisement or any other step in furtherance of a public offering of shares in the United States or Canada. This document is not aimed at persons who are resident in the United States, Canada or any province or territory thereof, where the companies/securities are not authorised or registered for distribution and where no prospectus has been filed with any securities commission or regulatory authority. The companies/securities may not be acquired or owned by, or acquired with the assets of, an ERISA Plan. Risk Warnings Investment in the products mentioned in this document may not be suitable for all investors. Past performance is not a guide to future performance and should not be the sole factor of consideration when selecting a product. The price of the investments may go up or down and the investor may not get back the amount invested. Your income is not fixed and may fluctuate. The value of investments involving exposure to foreign currencies can be affected by exchange rate movements. We remind you that the levels and bases of, and reliefs from, taxation can change. BlackRock has not considered the suitability of this investment against your individual needs and risk tolerance. The data displayed provides summary information, investment should be made on the basis of the relevant Prospectus which is available from the manager. In respect of the products mentioned this document is intended for information purposes only and does not constitute investment advice or an offer to sell or a solicitation of an offer to buy the securities described within. This document may not be distributed without authorisation from BlackRock Advisors (UK) Limited. Index Disclaimers ishares funds are not sponsored, endorsed, or promoted by MSCI, and MSCI bears no liability with respect to any such funds or any index on which such funds are based. The Prospectus contains a more detailed description of the limited relationship that MSCI has with BlackRock Advisors (UK) Limited and any related funds. EURO STOXX 50 is the intellectual property (including registered trademarks) of STOXX Limited and/or of its licensors ( licensors ), and is used under a licence. ishares Core EURO STOXX 50 and ishares EURO STOXX 50 (Acc) are not sponsored, subscribed, sold or promoted by STOXX and its licensors and none of them bear any liability in this respect BlackRock, Inc. All Rights reserved. BLACKROCK, BLACKROCK SOLUTIONS, ALADDIN, ishares, LIFEPATH, SO WHAT DO I DO WITH MY MONEY, INVESTING FOR A NEW WORLD, and BUILT FOR THESE TIMES are registered and unregistered trademarks of BlackRock, Inc. or its subsidiaries in the United States and elsewhere. All other trademarks are those of their respective owners. FOR MORE INFORMATION ON ishares s PLEASE VISIT OUR WEBSITE ishares.com Alternatively, please call us on: From Switzerland: From the Netherlands: From the UK: From Belgium: From Spain: From Israel: IS-IEPRC-I-SNUBIsSp-I-SEP13-EN