BlackRock® Canada Announces Exchange Ratios for iShares ETF Mergers
24 Março 2023 - 09:59PM
BlackRock Asset Management Canada Limited (“BlackRock
”), an indirect, wholly-owned subsidiary of
BlackRock, Inc. (“BlackRock
”) (NYSE: BLK) today
announced the exchange ratios for the mergers of certain iShares
As announced on March 1, 2023 and March 13,
2023, unitholders approved the merger of each of the merging
iShares exchange-traded funds (“Merging ETFs”)
into the applicable continuing iShares exchange-traded funds
(“Continuing ETFs”), as set forth in the table
below (the “Mergers”), effective on or about March
27, 2023. Each of the Merging ETFs will be terminated following the
The exchange ratio determines the number of
whole units of the Continuing ETFs existing unitholders will
receive for each unit they hold of the applicable Merging ETF.
Unitholders will receive cash in lieu of any fractional units. The
exchange ratio was calculated based on the respective net asset
values of both the Merging ETFs and Continuing ETFs as of market
close on March 24, 2023.
iShares U.S. High Yield Fixed Income Index ETF (CAD-Hedged)
iShares U.S. High Yield Bond Index ETF (CAD-Hedged) (XHY)
iShares Short Term High Quality Canadian Bond Index ETF (XSQ)
iShares Core Canadian Short Term Bond Index ETF (XSB)
Unitholders of the Merging ETFs are not required
to take any action in order to become unitholders of the Continuing
The Mergers will take place on a taxable basis.
The final cash distribution amounts for each Merging ETF were
included in the press release dated March 21, 2023. The final
distribution amounts of the Merging ETFs are not expected to
include a positive net capital gain amount.
Details of the previously announced Mergers are
outlined in the joint management information circular dated January
27, 2023 which is available at www.sedar.com.
For more information about the Merging ETF and
Continuing ETF, please visit www.blackrock.com/ca.
BlackRock’s purpose is to help more and more
people experience financial well-being. As a fiduciary to investors
and a leading provider of financial technology, we help millions of
people build savings that serve them throughout their lives by
making investing easier and more affordable. For additional
information on BlackRock, please visit
iShares unlocks opportunity across markets to
meet the evolving needs of investors. With more than twenty years
of experience, a global line-up of 1300+ exchange traded funds
(ETFs) and US$2.91 trillion in assets under management as of
December 31, 2022, iShares continues to drive progress for the
financial industry. iShares funds are powered by the expert
portfolio and risk management of BlackRock.
iShares® ETFs are managed by BlackRock Asset
Management Canada Limited.
Commissions, trailing commissions, management
fees and expenses all may be associated with investing in iShares
ETFs. Please read the relevant prospectus before investing. The
funds are not guaranteed, their values change frequently and past
performance may not be repeated. Tax, investment and all other
decisions should be made, as appropriate, only with guidance from a
Contact for Media: Reem Jazar
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