BlackRock High Equity Income Fund

The fund is designed to allocate at least 80% of its net assets, augmented by any borrowed capital for investment purposes, to a diversified portfolio of equity securities and instruments linked to equities, including specific equity-linked notes. While capable of investing across the entire spectrum of market capitalizations, its strategy generally favors large-cap companies. A substantial portion, up to 50% of its total assets, may be directed into these equity-linked notes, which are structured to provide both equity exposure and integration with covered call options or other financial instruments.