BlackRock Municipal 2020 Term Trust Announces Partial Redemption of Auction Rate Preferred Shares

NEW YORK--()--BlackRock Advisors, LLC today announced that BlackRock Municipal 2020 Term Trust (NYSE:BKK) provided a notice of the redemption of a portion of its issued and outstanding auction rate preferred shares (“ARPS”).

The redemptions announced today, which total $7.05 million in ARPS and represent 20.4% of BKK’s ARPS currently outstanding, will be conducted at a liquidation preference of $25,000 per share, together with accrued and unpaid dividends thereon to the redemption date, if applicable. When taken together with previously announced redemptions of ARPS by BlackRock closed-end funds, these redemptions total approximately $9.80 billion across BlackRock taxable and tax-exempt closed-end funds (approximately 99.7% of the total ARPS outstanding as of February 2008).

Please see redemption details for the Fund’s respective series of ARPS below.


Series CUSIP Redemption Date

Total Shares

to be


Aggregate Principal

Amount to be


F-7 09249X406 October 31, 2016 94 $2,350,000
M-7 09249X208 November 1, 2016 94 $2,350,000
W-7 09249X307 October 27, 2016 94 $2,350,000

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With respect to the Fund, 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 Fund or in the Fund’s net asset value; (2) the relative and absolute investment performance of the 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 the 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 Fund with the Securities and Exchange Commission (“SEC”) are accessible on the SEC's website at and on BlackRock’s website at, and may discuss these or other factors that affect the Fund. The information contained on BlackRock’s website is not a part of this press release.


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