iShares US Large Cap Moderate Buffer UCITS ETF

Actively managed, defined-outcome US large-cap equity ETF that combines S&P 500 exposure through unfunded total return swaps with listed options that shape the fund’s capped and buffered payoff. For the 1 July 2026–30 June 2027 outcome period, the initial approximate buffer was 9.46%, following an initial 0.54% decline, while potential gains were capped at 18.73%, before fees and expenses. The strategy exchanges some equity-market upside for limited downside protection: losses beyond the buffer remain with investors. The stated outcome is not guaranteed and is designed for investors holding throughout the full outcome period; investors entering or exiting partway through may experience materially different results because the remaining cap and buffer will have changed.