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NEW YORK–(BUSINESS WIRE)–The Boards of Trustees of BlackRock Municipal 2020 Term Trust (NYSE: BKK, CUSIP: 09249X109) and BlackRock Florida Municipal 2020 Term Trust (NYSE: BFO, CUSIP: 09250M109) (together the “Funds”) today announced the declaration of a special tax-exempt income cash distribution.

Investors in the Funds should consider the distribution declared today, along with the special distribution declared on October 1, 2020 that is also payable on December 22, 2020 and any subsequent distributions, as part of the final distribution of proceeds in connection with each Fund’s investment objective to return $15 per share (the initial public offering price per common share) to holders of common shares on or about December 31, 2020.

BKK’s and BFO’s respective net asset value (“NAV”) per share as of the close of business on October 30, 2020 was $15.08 and $14.82, respectively. There is no assurance that each Fund will achieve its investment objective of returning $15 per common share. It is not anticipated that BFO will achieve its investment objective of returning $15.00 per common share on or about December 31, 2020. The NAV of each Fund will be reduced by the amount of any distributions, including the special distributions declared today and on October 1, 2020, on the Ex-Date of each such distribution. Each Fund’s daily NAV can be found in the “Closed End Funds” section of www.blackrock.com.

Special Distributions:

Declaration – 11/2/20

Ex-Date – 12/14/20

Record Date – 12/15/20

Payable Date – 12/22/20

Fund

 

Ticker

 

Special Distribution

BlackRock Municipal 2020 Term Trust

 

BKK

 

$0.178000

BlackRock Florida Municipal 2020 Term Trust

 

BFO

 

$0.248000

About BlackRock

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, our clients turn to us for the solutions they need when planning for their most important goals. As of September 30, 2020, the firm managed approximately $7.81 trillion in assets on behalf of investors worldwide. For additional information on BlackRock, please visit www.blackrock.com/corporate | Twitter: @blackrock | LinkedIn: www.linkedin.com/company/blackrock

Availability of Fund Updates

BlackRock will update performance and certain other data for the Funds on a monthly basis on its website in the “Closed-end Funds” section of www.blackrock.com as well as certain other material information as necessary from time to time. Investors and others are advised to check the website for updated performance information and the release of other material information about the Funds. This reference to BlackRock’s website is intended to allow investors public access to information regarding the Funds and does not, and is not intended to, incorporate BlackRock’s website in this release.

Forward-Looking Statements

This press release, and other statements that BlackRock or a Fund may make, may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act, with respect to a Fund’s or BlackRock’s future financial or business performance, strategies or expectations. Forward-looking statements are typically identified by words or phrases such as “trend,” “potential,” “opportunity,” “pipeline,” “believe,” “comfortable,” “expect,” “anticipate,” “current,” “intention,” “estimate,” “position,” “assume,” “outlook,” “continue,” “remain,” “maintain,” “sustain,” “seek,” “achieve,” and similar expressions, or future or conditional verbs such as “will,” “would,” “should,” “could,” “may” or similar expressions.

BlackRock cautions that forward-looking statements are subject to numerous assumptions, risks and uncertainties, which change over time. Forward-looking statements speak only as of the date they are made, and BlackRock assumes no duty to and does not undertake to update forward-looking statements. Actual results could differ materially from those anticipated in forward-looking statements and future results could differ materially from historical performance.

With respect to the Funds, the following factors, among others, could cause actual events to differ materially from forward-looking statements or historical performance: (1) changes and volatility in political, economic or industry conditions, the interest rate environment, foreign exchange rates or financial and capital markets, which could result in changes in demand for the Funds or in a Fund’s net asset value; (2) the relative and absolute investment performance of a Fund and its investments; (3) the impact of increased competition; (4) the unfavorable resolution of any legal proceedings; (5) the extent and timing of any distributions or share repurchases; (6) the impact, extent and timing of technological changes; (7) the impact of legislative and regulatory actions and reforms, including the Dodd-Frank Wall Street Reform and Consumer Protection Act, and regulatory, supervisory or enforcement actions of government agencies relating to a Fund or BlackRock, as applicable; (8) terrorist activities, international hostilities and natural disasters, which may adversely affect the general economy, domestic and local financial and capital markets, specific industries or BlackRock; (9) BlackRock’s ability to attract and retain highly talented professionals; (10) the impact of BlackRock electing to provide support to its products from time to time; and (11) the impact of problems at other financial institutions or the failure or negative performance of products at other financial institutions.

Annual and Semi-Annual Reports and other regulatory filings of the Funds with the Securities and Exchange Commission (“SEC”) are accessible on the SEC’s website at www.sec.gov and on BlackRock’s website at www.blackrock.com, and may discuss these or other factors that affect the Funds. The information contained on BlackRock’s website is not a part of this press release.

Contacts

BlackRock Closed-End Funds
1-800-882-0052

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