As always, you will have a week to achieve Rank 5 and get all the items.
Just a reminder, if you happen to be one of those fresh players joining Destiny after the recent updates and sales: Iron Banner is a PvP event, where your level and your gear make the difference (and your skill, obviously). This time it will run from May 9th until May 16th.
The upcoming edition of Iron Banner will use Mayhem Clash as the main mode. You can get a Pulse Rifle and a Machine Gun for playing it, as well as sets of items for your preferred class. You’ll find images presenting the available loot below: