BlackRock, Inc. (NYSE:BLK) plans to make benchmark — and in some cases name — changes to four iShares ETFs based on an ongoing process to review its product lineup and ensure it meets the evolving needs of its clients.

Investors in the ETFs do not have to take any action and no capital gains distributions are expected as a result of the transition.

iShares MSCI USA Value Factor ETF (VLUE):

Effective on/around August 31, 2015, the iShares MSCI USA Value Factor ETF (VLUE) will seek to track the MSCI USA Enhanced Value Index. There will be no change to its fund name, ticker or investment objective.

         
    Current   New
Fund Name   iShares MSCI USA Value Factor ETF (VLUE)   No change
Underlying Index   MSCI USA Value Weighted Index   MSCI USA Enhanced Value Index
Investment Objective   The iShares MSCI USA Value Factor ETF seeks to track the performance of an index that measures the performance of U.S. large- and mid-capitalization stocks with value characteristics and relatively lower valuations.   No change

iShares MSCI USA Quality Factor ETF (QUAL):

Effective on/around August 31, 2015, the iShares MSCI USA Quality Factor ETF (QUAL) will seek to track the MSCI USA Sector Neutral Quality Index. There will be no change to its fund name, ticker or investment objective.

         
    Current   New
Fund Name   iShares MSCI USA Quality Factor ETF   No change
Underlying Index   MSCI USA Quality Index   MSCI USA Sector Neutral Quality Index
Investment Objective   The iShares MSCI USA Quality Factor ETF (the “Fund”) seeks to track the investment results of an index that measures the performance of U.S. large- and mid-capitalization stocks as identified through three fundamental variables: return on equity, earnings variability and debt-to-equity.   No change

iShares MSCI USA ETF (EUSA):

Effective on/around August 31, 2015, the iShares MSCI USA ETF (EUSA) will seek to track the MSCI USA Equal Weighted Index and will change its name to iShares MSCI USA Equal Weighted ETF. It will keep the same ticker, EUSA. The fund’s investment objective will change to seeking to track the investment results of an index composed of equal weighted U.S. equities.

         
    Current   New
Fund Name   iShares MSCI USA ETF (EUSA)   iShares MSCI USA Equal Weighted ETF (EUSA)
Underlying Index   MSCI USA Index   MSCI USA Equal Weighted Index
Investment Objective   The iShares MSCI USA ETF seeks to track the investment results of an index composed of U.S. equities.   The iShares MSCI USA Equal Weighted ETF seeks to track the investment results of an index composed of equal weighted U.S. equities.

iShares Japan Large-Cap ETF (ITF):

Effective on/around September 4, 2015, the iShares Japan Large-Cap ETF (ITF) will seek to track the JPX-Nikkei Index 400 and will change its name to iShares JPX-Nikkei 400 ETF. The fund’s investment objective will change to seeking to track the investment results of a broad-based benchmark composed of Japanese equities.

         
    Current   New
Fund Name   iShares Japan Large-Cap ETF (ITF)   iShares JPX-Nikkei 400 ETF (ITF)
Underlying Index   S&P/TOPIX 150 Index   JPX-Nikkei Index 400 Index
Investment Objective   The iShares Japan Large-Cap ETF seeks to track the investment results of an index composed of large-capitalization Japanese equities.   The iShares JPX-Nikkei 400 ETF seeks to track the investment results of a broad-based benchmark composed of Japanese equities.

About BlackRock

BlackRock is a leader in investment management, risk management and advisory services for institutional and retail clients worldwide. At March 31, 2015, BlackRock’s AUM was $4.774 trillion. BlackRock helps clients meet their goals and overcome challenges with a range of products that include separate accounts, mutual funds, iShares® (exchange-traded funds), and other pooled investment vehicles. BlackRock also offers risk management, advisory and enterprise investment system services to a broad base of institutional investors through BlackRock Solutions®. Headquartered in New York City, as of March 31, 2015, the firm had approximately 12,300 employees in more than 30 countries and a major presence in key global markets, including North and South America, Europe, Asia, Australia and the Middle East and Africa. For additional information, please visit the Company’s website at www.blackrock.com | Twitter: @blackrock_news | 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 700 funds globally across multiple asset classes and strategies and more than $1 trillion in assets under management as of March 31, 2015, 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 firm*.

*Based on $4.77T in AUM as of 3/31/15.

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 and, if available, summary prospectuses, which may be obtained by calling 1-800-iShares (1-800-474-2737) or by visiting www.iShares.com. Read the prospectus carefully before investing.

Investing involves risk, including possible loss of principal. International investing involves risks, including risks related to foreign currency, limited liquidity, less government regulation and the possibility of substantial volatility due to adverse political, economic or other developments. These risks often are heightened for investments in concentrations of single countries.

There can be no assurance that performance will be enhanced for funds that seek to provide exposure to certain quantitative investment characteristics ("factors"). Exposure to such investment factors may detract from performance in some market environments, perhaps for extended periods. In such circumstances, a fund may seek to maintain exposure to the targeted investment factors and not adjust to target different factors, which could result in losses.

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

The iShares Funds are not sponsored, endorsed, issued, sold or promoted by MSCI Inc., nor does this company make any representation regarding the advisability of investing in the Funds. BlackRock is not affiliated with MSCI Inc.©2015 BlackRock. All rights reserved. iSHARES and BLACKROCK are registered trademarks of BlackRock. All other marks are the property of their respective owners. iS-15991-0715.