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Published Mar 24, 2023 • 2 minute learn
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TORONTO, March 24, 2023 (GLOBE NEWSWIRE) — BlackRock Asset Management Canada Limited (“BlackRock Canada”), an oblique, wholly-owned subsidiary of BlackRock, Inc. (“BlackRock”) (NYSE: BLK) right this moment introduced the change ratios for the mergers of sure iShares exchange-traded funds.
As introduced on March 1, 2023 and March 13, 2023, unitholders permitted the merger of every of the merging iShares exchange-traded funds (“Merging ETFs”) into the relevant persevering with iShares exchange-traded funds (“Continuing ETFs”), as set forth within the desk under (the “Mergers”), efficient on or about March 27, 2023. Each of the Merging ETFs might be terminated following the Mergers.
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The change ratio determines the variety of entire models of the Continuing ETFs current unitholders will obtain for every unit they maintain of the relevant Merging ETF. Unitholders will obtain money in lieu of any fractional models. The change ratio was calculated based mostly on the respective internet asset values of each the Merging ETFs and Continuing ETFs as of market shut on March 24, 2023.
| Merging ETF | Continuing ETF | Exchange Ratio |
| iShares U.S. High Yield Fixed Income Index ETF (CAD-Hedged) (CHB) | iShares U.S. High Yield Bond Index ETF (CAD-Hedged) (XHY) | 0.94782 |
| iShares Short Term High Quality Canadian Bond Index ETF (XSQ) | iShares Core Canadian Short Term Bond Index ETF (XSB) | 0.71101 |
Unitholders of the Merging ETFs aren’t required to take any motion in an effort to change into unitholders of the Continuing ETFs.
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The Mergers will happen on a taxable foundation. The remaining money distribution quantities for every Merging ETF had been included within the press launch dated March 21, 2023. The remaining distribution quantities of the Merging ETFs aren’t anticipated to incorporate a constructive internet capital achieve quantity.
Details of the beforehand introduced Mergers are outlined within the joint administration data round dated January 27, 2023 which is offered at www.sedar.com.
For extra details about the Merging ETF and Continuing ETF, please go to www.blackrock.com/ca.
About BlackRock
BlackRock’s objective is to assist increasingly individuals expertise monetary well-being. As a fiduciary to traders and a number one supplier of economic know-how, we assist hundreds of thousands of individuals construct financial savings that serve them all through their lives by making investing simpler and extra reasonably priced. For extra data on BlackRock, please go to www.blackrock.com/company.
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About iShares
iShares unlocks alternative throughout markets to satisfy the evolving wants of traders. With greater than twenty years of expertise, a world line-up of 1300+ change traded funds (ETFs) and US$2.91 trillion in belongings underneath administration as of December 31, 2022, iShares continues to drive progress for the monetary trade. iShares funds are powered by the skilled portfolio and danger administration of BlackRock.
iShares® ETFs are managed by BlackRock Asset Management Canada Limited.
Commissions, trailing commissions, administration charges and bills all could also be related to investing in iShares ETFs. Please learn the related prospectus earlier than investing. The funds aren’t assured, their values change incessantly and previous efficiency is probably not repeated. Tax, funding and all different selections must be made, as applicable, solely with steerage from a certified skilled.
Contact for Media:
Reem Jazar
Email: reem.jazar@blackrock.com
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