iShares
iShares Muni Series ETFs: Updates and News

The iShares Muni Series funds invest in AMT-free, investment grade, noncallable municipal bond debt. Similar to a bond, each fund matures as of a stated date, and is anticipated to terminate on or about August 31 of the year in the Fund’s name.

Below is information related to funds in the iShares Muni Series.

iShares 2012 S&P AMT-Free Municipal Series (MUAA)

The fund, in accordance with its prospectus and investment objective matured on August 15, 2012. This fund has stopped trading and is no longer available for new investments.

Shareholders remaining in the fund will receive the final distribution amount per share as detailed below. Investors will receive the entire amount of their proceeds in cash on or after August 21, 2012. Investors are encouraged to reach out to their specific brokerages to confirm timing of payment.

Schedule of Events for MUAA

8/15 Closing price on final trading day of fund $50.58
8/21 Final distribution amount $50.62

Related Funds

MUB iShares S&P National AMT-Free Municipal Bond Fund
SUB iShares S&P Short Term National AMT-Free Municipal Bond Fund
MUAB iShares 2013 S&P AMT-Free Municipal Series
MUAC iShares 2014 S&P AMT-Free Municipal Series
MUAD iShares 2015 S&P AMT-Free Municipal Series
MUAE iShares 2016 S&P AMT-Free Municipal Series
MUAF iShares 2017 S&P AMT-Free Municipal Series
MUAG iShares 2018 S&P AMT-Free Municipal Series NEW

Carefully consider the iShares Funds' investment objectives, risk factors, and charges and expenses before investing. This and other information can be found in the Funds' prospectuses, which may be obtained by calling 1-800-iShares (1-800-474-2737), or by viewing or downloading a prospectus. Read the prospectus carefully before investing.

Investing involves risk, including possible loss of principal.

Narrowly focused investments typically exhibit higher volatility and are subject to greater geographic or asset class risk. The Funds are subject to credit risk, which refers to the possibility that the debt issuers will not be able to make principal and interest payments. Shares of the Funds trade at market price, which may be greater or less than net asset value.

Each Fund will terminate on or about August 31 of the year in the 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. In the final months of the Fund’s operation, as the bonds it holds mature, its portfolio will transition to cash and cash-like instruments. 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 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 municipal 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. Please consult your tax professional or financial advisor for more information regarding your tax situation.

To receive a distribution, you must have been a registered shareholder of the fund through the fund termination date.

The iShares Funds ("Funds") are distributed by BlackRock Investments, LLC (together with its affiliates, "BlackRock").

The iShares Funds are not sponsored, endorsed, issued, sold or promoted by Standard & Poor's. This company does not make any representation regarding the advisability of investing in the Funds. BlackRock is not affiliated with the company listed above.

© 2000-2013 BlackRock. All rights reserved. iSHARES® and BLACKROCK® are registered trademarks of BlackRock. All other marks are the property of their respective owners.

iS-7764-0812
© 2000-2013