iShares US Large Cap Max Buffer UCITS ETF

Actively managed defined-outcome US large-cap equity ETF using unfunded total return swaps and listed options to reshape the S&P 500 payoff profile. For the 1 July 2026 to 30 June 2027 outcome period, the initial approximate downside buffer was 99.46% and the upside cap 7.86%, before fees and expenses. The economic outcome is highly dependent on entry point and holding period: investors buying after the outcome period has begun may have materially less remaining protection and/or upside potential than the original terms imply. The buffer is not guaranteed and applies only to the extent described by the fund’s option structure over the full outcome period.