Two iShares iBonds Corporate ETFs Near Final Distribution Date
January 26 2018 - 9:00AM
Business Wire
ETF Shareholders to Receive Payout in
March
BlackRock announced today that two iShares iBonds Term Corporate
ETFs are nearing their final distribution dates.
iShares iBonds Mar 2018 Term Corporate ex-Financials ETF (NYSE:
IBCC) will, by design, cease trading at the close of U.S. market
hours on March 15, 2018. Leading up to the final distribution date,
the individual bonds in the ETF will mature and the fund will
transition into short-term, tax-exempt instruments and cash.
Remaining shareholders can expect to receive the entire amount of
their proceeds in cash on or after March 21, 2018, subject to their
brokerage processes.
iShares iBonds Mar 2018 Term Corporate ETF (NYSE: IBDB) will, by
design, cease trading at the close of U.S. market hours on March
26, 2018. Leading up to the final distribution date, the individual
bonds in the ETF will mature and the fund will transition into
short-term, tax-exempt instruments and cash. Remaining shareholders
can expect to receive the entire amount of their proceeds in cash
on or after April 2, 2018, subject to their brokerage
processes.
iShares iBonds Corporate Bond ETFs are designed to offer
investors exposure to investment grade corporate bonds with
potential benefits of both ETFs and bonds. Each fund contains a
diversified set of securities and seeks to track a Bloomberg
Barclays Maturity Corporate Index, and can be bought and sold daily
on an exchange. Like a bond, each fund has periodic distributions
of income and a pre-determined date when the fund will close and
distribute proceeds to shareholders.
About BlackRock
BlackRock helps investors build better financial futures. As a
fiduciary to our clients, we provide the investment and technology
solutions they need when planning for their most important goals.
As of December 31, 2017, the firm managed approximately $6.288
trillion in assets on behalf of investors worldwide. For additional
information on BlackRock, please
visit www.blackrock.com | Twitter: @blackrock |
Blog: www.blackrockblog.com |
LinkedIn: www.linkedin.com/company/blackrock.
About iShares
iShares® is a global leader in exchange-traded funds (ETFs),
with more than a decade of expertise and commitment to individual
and institutional investors of all sizes. With over 800 funds
globally across multiple asset classes and strategies and more than
$1.5 trillion in assets under management as of December 31, 2017,
iShares helps clients around the world build the core of their
portfolios, meet specific investment goals and implement market
views. iShares funds are powered by the expert portfolio and risk
management of BlackRock, trusted to manage more money than any
other investment firm1.
1 Based on $6.288 trillion in AUM as of 12/31/17
Carefully consider the Funds' investment objectives, risk
factors, and charges and expenses before investing. This and other
information can be found in the Funds' prospectuses or, if
available, the summary prospectuses which may be obtained by
visiting www.iShares.com or
www.blackrock.com. Read the prospectus carefully before
investing.
Investing involves risk, including possible loss of
principal.
Fixed income risks include interest-rate and credit risk.
Typically, when interest rates rise, there is a corresponding
decline in bond values. Credit risk refers to the possibility that
the bond issuer will not be able to make principal and interest
payments.
The iShares® iBonds® ETFs (“Funds”) will terminate on or about
March 31 or December 31 of the year in each Fund’s name. An
investment in the Fund(s) is not guaranteed, and an investor may
experience losses, including near or at the termination date.
Unlike a direct investment in a bond that has a level coupon
payment and a fixed payment at maturity, the Fund(s) will make
distributions of income that vary over time. In the final months of
each Fund’s operation, as the bonds it holds mature, its portfolio
will transition to cash and cash-like instruments. As a result, its
yield will tend to move toward prevailing money market rates, and
may be lower than the yields of the bonds previously held by the
Fund and lower than prevailing yields in the bond market.
Following the Fund’s termination date, the Fund will distribute
substantially all of its net assets, after deduction of any
liabilities, to then-current investors without further notice and
will no longer be listed or traded. The Funds’ distributions and
liquidation proceeds are not predictable at the time of investment
and the Funds do not seek to return any predetermined amount.
The rate of Fund distribution payments may adversely affect the
tax characterization of an investor’s returns from an investment in
the Fund relative to a direct investment in bonds. If the amount an
investor receives as liquidation proceeds upon the Fund’s
termination is higher or lower than the investor’s cost basis, the
investor may experience a gain or loss for tax purposes.
The iShares Funds are distributed by BlackRock Investments, LLC
(together with its affiliates, “BlackRock”).
©2018 BlackRock. iSHARES, iBONDS and BLACKROCK are
registered trademarks of BlackRock. All other marks are the
property of their respective owners.
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version on businesswire.com: http://www.businesswire.com/news/home/20180126005115/en/
BlackRockMelissa Garville,
212-810-5528Melissa.Garville@blackrock.com
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