iShares S&P Mid Cap 400 Swap UCITS ETF USD Acc

The Share Class is a share class of a Fund which aims to achieve a return on your investment, through a combination of capital growth and income on the Fund’s assets, which reflects the net total return of the S&P MidCap 400, the Fund’s benchmark index (Index). The Share Class, via the Fund, is passively managed and invests in financial derivative instruments (FDIs). In particular, it will enter into unfunded total return swaps in order to achieve its investment objective. A swap agreement is typically used to achieve a specified return determined by an underlying such as a return on an index. The Fund will also invest in a portfolio of global developed market equity securities (shares) the return on which will be paid to the counterparties to meet the Fund’s payment obligations under the terms of the unfunded total return swaps. Where investment in total return swaps is not possible or practicable, the Fund may also gain exposure to the Index through investment in other FDIs such as options and non-deliverable futures, through investment in other funds and / or through investment in shares that, as far as possible and practicable, represent the component securities of the Index. The Index is designed to measure the performance of 400 companies from the mid-capitalisation segment of the United States equity market, according to the index provider’s size, liquidity and free float criteria. Companies are included in the Index based on a free float market capitalisation weighted basis. Free float means that only shares available in the market rather than all of a company’s issued shares are used in calculating the Index. Free float-adjusted market capitalisation is the share price of a company multiplied by the number of shares readily available in the market. Securities that are liquid means that they can be easily bought or sold in the market in normal market conditions. The Fund intends to track the performance of the Index by gaining an indirect exposure to it via FDIs, particularly unfunded total return swaps. Recommendation: This Fund is suitable for medium to long term investment, though the Fund may also be suitable for shorter term exposure to the Index. 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 exchanges and may be traded in currencies other than their base currency. The performance of your shares may be affected by this currency difference. In normal circumstances, only authorised participants (e.g. select financial institutions) may deal in shares (or interests in shares) directly with the Fund. Other investors can deal in shares (or interests in shares) daily through an intermediary on stock exchange (s) on which the shares are traded. Indicative net asset value is published on relevant stock exchanges websites. For more information on the Fund, Share Class, risks and charges, please see the Fund's prospectus, available on the product pages at www.blackrock.com