iShares Brazil LTN BRL Govt Bond UCITS ETF (DE)Index, costs, backtest, listings and taxation

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The Share Class is a share class of the Fund which is a passively managed exchange traded fund (ETF) that aims to track the performance of the J.P. Morgan Brazilian Zero-Coupon (LTN) Bond Index (Index) as closely as possible. The Index measures the performance of eligible zero coupon (LTN) BRL-denominated government bonds. Bonds must have at least USD 1 billion face amount outstanding and greater than 1 year to maturity at inclusion to be eligible. The Index will maintain a minimum of six bonds, to achieve this, additional fixed coupon bonds may become eligible. The Index utilizes a traditional market-capitalization weighting methodology. The Index caps any security whose weight is greater than 25%, redistributing the excess across the rest of the Index on a prorata basis. The Index rebalances on the last business day of each month in accordance with the Brazilian bond market holiday calendar. In order to achieve its investment objective, the Fund mostly invests in liquid, BRL- denominated zero-coupon government bonds (LTN’s) issued by the Federative Republic of Brazil. It is not the Manager’s intention to leverage the Fund. However, the Fund may generate minimal amounts of leverage from time to time, for example, if using financial derivative instruments (FDIs) for efficient portfolio management purposes.

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The price of fixed income securities may be affected by changing interest rates which in turn may affect the value of the investment. Fixed income securities prices move inversely to interest rates. Therefore, the market value of fixed income securities may decrease as interest rates increase. The credit rating of an issuing entity will generally affect the yield that can be earned on fixed income securities; the better the credit rating the smaller the yield. Fixed income securities issued or guaranteed by government entities in emerging markets generally experience higher ‘Credit Risk’ than developed economies. The relationship between the return on the investment, how it is impacted and the period for which you hold the investment is considered below (see “How long should I hold it and can I take my money out early?”).

The depositary of the Fund is State Street Bank International GmbH. Further information about the Fund can be obtained from the latest annual report and half-yearly reports of the Fund. These documents are available free of charge in German, English and certain other languages. These can be found, along with other (practical) information, including prices of units, by emailing info@iShares.de or from www.ishares.com or by calling +49 (0) 89 42729 5858.

Your shares will be accumulating shares (i.e. income will be included in their value). Your shares will be denominated in US Dollar, the Fund's base currency. The shares are listed on one or more Stock Exchange(s). Investors can buy or sell their shares daily during business hours through an intermediary on such Stock Exchange(s). The value of the shares is related to the value of the underlying assets of the Fund, less costs (see “What are the costs?” below). The prevailing market price at which the shares trade on the secondary market may deviate from the value of the shares. Indicative net asset value is published on relevant stock exchanges websites.

Intended retail investor:This Fund is intended for retail investors with basic knowledge and experience, with the ability to bear losses up to the amount invested in the Fund. This Fund is suitable for medium to long term investment, though the Fund may also be suitable for shorter term exposure to the Index (see “How long should I hold it and can I take my money out early?”).

Insurance benefits:The Fund does not offer any insurance benefits.

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