(each, a Fund and collectively, the Funds)
Supplement dated April 6, 2017 to the Investor Shares Prospectus of each Fund (each, a Prospectus)
Effective April 10, 2017, each Prospectus is amended as follows:
The first paragraph in the section of the Prospectus entitled Fund OverviewKey Facts About [the Fund]Fees and Expenses of the Fund or Fund OverviewFees and Expenses of the Fund, as applicable, is amended to add a cross-reference to the Intermediary-Defined Sales Charge Waiver Policies section of the Prospectus.
The following is added before the last paragraph in the section of the Prospectus entitled Account InformationHow to Choose the Share Class that Best Suits Your Needs:
The availability of certain sales charge waivers and reductions will depend on whether you purchase your shares directly from the Fund or through a Financial Intermediary. Financial Intermediaries may have different policies and procedures regarding the availability of front-end sales charge waivers or deferred sales charge waivers, which are discussed below. In all instances, it is your responsibility to notify the Fund or your Financial Intermediary at the time of purchase of any relationship or other facts qualifying you for sales charge waivers or reductions. For waivers and discounts not available through a particular Financial Intermediary, shareholders will have to purchase Fund shares directly from the Fund or through another Financial Intermediary to receive these waivers or reductions. Please see the Intermediary-Defined Sales Charge Waiver Policies section to determine any sales charge waivers and reductions that may be available to you through your Financial Intermediary.
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The following is added to the ends of the sections of the Prospectus entitled Account InformationDetails About the Share ClassesSales Charges Reduced or Eliminated for Investor A Shares, Account InformationDetails About the Share ClassesOther Front-End Sales Charge Waivers, and Account InformationDetails About the Share ClassesContingent Deferred Sales Charge Waivers:
See the Intermediary-Defined Sales Charge Waiver Policies section for sales charge reductions and waivers that may be available to customers of certain Financial Intermediaries.
The following is added as a new section immediately before the section of the Prospectus entitled For More Information:
Intermediary-Defined Sales Charge Waiver Policies
Intermediary-Defined Sales Charge Waiver Policies
Merrill Lynch:
Effective April 10, 2017, shareholders purchasing Fund shares through a Merrill Lynch platform or account (excluding shares purchased from or through the Fund, the Funds distributor or any non-Merrill Lynch platform or account, even if Merrill Lynch serves as broker-dealer of record for such shares) will be eligible only for the following sales charge waivers (front-end sales charge waivers and CDSC waivers) and reductions, which may differ from those disclosed elsewhere in the prospectus or SAI.
Front-End Sales Charge Waivers for Investor A Shares available at Merrill Lynch
∎ | Shares purchased by employer-sponsored retirement, deferred compensation and employee benefit plans (including health savings accounts) and trusts used to fund those plans, provided that the shares are not held in a commission-based brokerage account and shares are held for the benefit of the plan/plan participants |
∎ | Shares purchased by or through a 529 Plan |
∎ | Shares purchased through a Merrill Lynch affiliated investment advisory program |
∎ | Shares purchased by third party investment advisors on behalf of their advisory clients through Merrill Lynchs platform |
∎ | Shares of funds purchased through the Merrill Edge Self-Directed platform |
∎ | Shares purchased through reinvestment of capital gains distributions and dividend reinvestment when purchasing shares of the same fund (but not any other BlackRock Fund) |
∎ | Shares exchanged from Investor C (i.e. level-load) Shares of the same Fund in the month of or following the 10-year anniversary of the purchase date |
∎ | Shares purchased by employees and registered representatives of Merrill Lynch or its affiliates and their family members |
∎ | Shares purchased by directors of the Fund, and employees of BlackRock or any of its affiliates, as described in the prospectus |
∎ | Shares purchased from the proceeds of redemptions from another BlackRock Fund, provided (1) the repurchase occurs within 90 days following the redemption, (2) the redemption and purchase occur in the same account, and (3) redeemed shares were subject to a front-end or deferred sales charge (known as Rights of Reinstatement) |
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CDSC Waivers on Investor A, B and C Shares available at Merrill Lynch
∎ | Shares sold due to death or disability of the shareholder |
∎ | Shares sold as part of a systematic withdrawal plan as described in the prospectus |
∎ | Shares bought due to return of excess contributions from an IRA Account |
∎ | Shares sold as part of a required minimum distribution for IRA and retirement accounts due to the shareholder reaching age 70 1/2 |
∎ | Shares sold to pay Merrill Lynch fees but only if the transaction is initiated by Merrill Lynch |
∎ | Shares acquired through a Right of Reinstatement |
∎ | Investor A and C Shares of the Fund held in the following IRA or other retirement brokerage accounts: Traditional IRAs, Roth IRAs, Rollover IRAs, Inherited IRAs, SEP IRAs, SIMPLE IRAs, BASIC Plans, Educational Savings Accounts and Medical Savings Accounts, that are exchanged for Institutional Shares of the Fund due to transfer to certain fee based accounts or platforms |
Front-End Sales Charge Discounts Available at Merrill Lynch: Breakpoints, Rights of Accumulation & Letters of Intent
∎ | Breakpoints as described in the prospectus |
∎ | Rights of Accumulation (ROA) entitle shareholders to breakpoint discounts that will be automatically calculated based on the aggregated holding of BlackRock Fund assets held by accounts within the purchasers household at Merrill Lynch. Eligible BlackRock Fund assets not held at Merrill Lynch may be included in the ROA calculation only if the shareholder notifies his or her financial advisor about such assets |
∎ | Letters of Intent (LOI) allow for breakpoint discounts based on anticipated purchases of BlackRock Funds, through Merrill Lynch, over a 13-month period of time |
Shareholders should retain this Supplement for future reference.
PRO-GLOBAL-0417SUP
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