0001193125-16-568100.txt : 20160429 0001193125-16-568100.hdr.sgml : 20160429 20160429135002 ACCESSION NUMBER: 0001193125-16-568100 CONFORMED SUBMISSION TYPE: 497 PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20160429 DATE AS OF CHANGE: 20160429 EFFECTIVENESS DATE: 20160429 FILER: COMPANY DATA: COMPANY CONFORMED NAME: BLACKROCK MUNICIPAL BOND FUND, INC. CENTRAL INDEX KEY: 0000225635 IRS NUMBER: 132896246 STATE OF INCORPORATION: NJ FISCAL YEAR END: 0630 FILING VALUES: FORM TYPE: 497 SEC ACT: 1933 Act SEC FILE NUMBER: 002-57354 FILM NUMBER: 161605043 BUSINESS ADDRESS: STREET 1: 100 BELLEVUE PARKWAY CITY: WILMINGTON STATE: DE ZIP: 19809 BUSINESS PHONE: 800-441-7762 MAIL ADDRESS: STREET 1: 100 BELLEVUE PARKWAY CITY: WILMINGTON STATE: DE ZIP: 19809 FORMER COMPANY: FORMER CONFORMED NAME: MERRILL LYNCH MUNICIPAL BOND FUND INC DATE OF NAME CHANGE: 19920703 FORMER COMPANY: FORMER CONFORMED NAME: ONE LIBERTY MUNICIPAL BOND FUND INC DATE OF NAME CHANGE: 19780622 0000225635 S000002334 BlackRock National Municipal Fund C000006118 Investor A C000006119 Investor B C000006120 Investor C1 C000006121 Institutional C000038033 Investor C C000100249 Service Shares C000100250 BlackRock Shares 0000225635 S000011867 BlackRock High Yield Municipal Fund C000032425 Investor A C000032427 Investor C C000032428 Institutional 497 1 d186890d497.htm BLACKROCK MUNICIPAL BOND FUND, INC. BLACKROCK MUNICIPAL BOND FUND, INC.

BlackRock Municipal Bond Fund, Inc.

BlackRock High Yield Municipal Fund

BlackRock National Municipal Fund

(each, a “Fund” and collectively, the “Funds”)

Supplement dated April 29, 2016 to the Prospectus and

Statement of Additional Information, each dated October 28, 2015

Effective June 1, 2016, the following changes are made to the Funds’ Prospectus:

Footnote 1 to each Fund’s fee table relating to the “Maximum Deferred Sales Charge (Load) (as percentage of offering price or redemption proceeds, whichever is lower)” for Investor A Shares in the sections of the Prospectus entitled “Fund Overview—Key Facts About BlackRock High Yield Municipal Fund—Fees and Expenses of the Fund” and “Fund Overview—Key Facts About BlackRock National Municipal Fund—Fees and Expenses of the Fund” is deleted in its entirety and replaced with the following:

 

1  A contingent deferred sales charge (“CDSC”) of 1.00% is assessed on certain redemptions of Investor A Shares made within 18 months after purchase where no initial sales charge was paid at the time of purchase of an investment of $250,000 or more.

The “Share Classes at a Glance” chart in the section of the Prospectus entitled “Account Information—How to Choose the Share Class that Best Suits Your Needs” is amended to delete the row captioned “Deferred Sales Charge?” applicable to Investor A Shares, and to replace it with the following:

 

      Investor A

Deferred Sales Charge?

    No. (May be charged for purchases of $250,000 or more that are redeemed within 18 months).

The first chart in the section of the Prospectus entitled “Account Information—Details About the Share Classes—Investor A Shares—Initial Sales Charge Option” is deleted in its entirety and replaced with the following:

High Yield Fund and National Fund

 

Your Investment    Sales Charge
As a % of
Offering Price		     Sales
Charge
As a % of
Your
Investment1		     Dealer
Compensation
As a % of
Offering Price		  

Less than $100,000

      4.25 %      4.44 %      4.00 % 

$100,000 but less than $250,000

      3.25 %      3.36 %      3.00 % 

$250,000 and over2

      0.00 %      0.00 %      — 2 

 

1  Rounded to the nearest one-hundredth percent.

 

2  If you invest $250,000 or more in Investor A Shares, you will not pay an initial sales charge. In that case, BlackRock compensates the selling dealer or other financial intermediary from its own resources. However, if you redeem your shares within 18 months after purchase, you may be charged a deferred sales charge of 1.00% (for the High Yield Fund and the National Fund) and 0.50% (for the Short-Term Fund). Such deferred sales charge may be waived in connection with certain fee-based programs.

The first paragraph in the section of the Prospectus entitled “Account Information—Details About the Share Classes—Investor A Shares at Net Asset Value” is deleted in its entirety and replaced with the following:

If you invest $250,000 or more in Investor A Shares, you will not pay any initial sales charge. However, if you redeem your Investor A Shares within 18 months after purchase, you may be charged a deferred sales charge of 1.00% (or 0.50% for the Short-Term Fund) of the lesser of the original cost of the shares being redeemed or your redemption proceeds. For a discussion on waivers, see “Contingent Deferred Sales Charge Waivers.”

Effective June 1, 2016, the following changes are made to the Funds’ Statement of Additional Information:

The section of the Statement of Additional Information entitled “Purchase of Shares—Reduced Initial Sales Charges—Purchase Privileges of Certain Persons” as it relates solely to the Funds is revised as follows:

BlackRock may pay placement fees to dealers on purchases of Investor A Shares of all Funds, which may depend on the policies, procedures and trading platforms of your financial intermediary.

With respect to the BlackRock High Yield Municipal Fund and BlackRock National Municipal Fund of BlackRock Municipal Bond Fund, Inc., the placement fees may be up to the following amounts:

 

$250,000 but less than $4 million

      1.00 % 

$4 million but less than $10 million

      0.50 % 

$10 million and above

      0.25 % 

The first sentence of the second paragraph in the section of the Statement of Additional Information entitled “Purchase of Shares—Reduced Initial Sales Charges—Other” is deleted in its entirety and replaced with the following:

If you invest $1,000,000 ($250,000 for BlackRock Multi-Asset Income Portfolio of BlackRock Funds II, BlackRock High Yield Municipal Fund, BlackRock National Municipal Fund and BlackRock Short-Term Municipal Fund of BlackRock Municipal Bond Fund, Inc., BlackRock Strategic Municipal Opportunities Fund of BlackRock Municipal Series Trust, BlackRock California Municipal Opportunities Fund of BlackRock California Municipal Series Trust and BlackRock New Jersey Municipal Bond Fund, BlackRock New York Municipal Opportunities Fund and BlackRock Pennsylvania Municipal Bond Fund of BlackRock Multi-State Municipal Series Trust, and $500,000 for BlackRock Low Duration Bond Portfolio, BlackRock Floating Rate Income Portfolio, BlackRock Secured Credit Portfolio and BlackRock Strategic Income Opportunities Portfolio of BlackRock Funds II) or more in Investor A Shares, you may not pay an initial sales charge.

The third paragraph in the section of the Statement of Additional Information entitled “Purchase of Shares—Reduced Initial Sales Charges—Other” is deleted in its entirety and replaced with the following:

With respect to certain employer-sponsored retirement plans, if a dealer waives its right to receive a placement fee, the Fund may, at its own discretion, waive the CDSC (as defined below) related to purchases of $1,000,000 ($250,000 for BlackRock Multi-Asset Income Portfolio of BlackRock Funds II, BlackRock High Yield Municipal Fund, BlackRock National Municipal Fund and BlackRock Short-Term Municipal Fund of BlackRock Municipal Bond Fund, Inc., BlackRock Strategic Municipal Opportunities Fund of BlackRock Municipal Series Trust, BlackRock California Municipal Opportunities Fund of BlackRock California Municipal Series Trust and BlackRock New Jersey Municipal Bond Fund, BlackRock New York Municipal Opportunities Fund and BlackRock Pennsylvania Municipal Bond Fund of BlackRock Multi-State Municipal Series Trust, and $500,000 for BlackRock Low Duration Bond Portfolio, BlackRock Floating Rate Income Portfolio, BlackRock Secured Credit Portfolio and BlackRock Strategic Income Opportunities Portfolio of BlackRock Funds II) or more of Investor A Shares. This may depend upon the policies, procedures and trading platforms of your financial intermediary; consult your financial adviser.

Shareholders should retain this Supplement for future reference.

 

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