Marks BlackRock’s 14th,
15th, and 16th Successful Term Trust to
Date
BlackRock Advisors, LLC announced today that each of BlackRock
Municipal 2018 Term Trust (NYSE:BPK), BlackRock California
Municipal 2018 Term Trust (NYSE:BJZ), and BlackRock New York
Municipal 2018 Term Trust (NYSE:BLH) (each, a “Fund” and
collectively, the “Funds”) has met its investment objective of
returning $15 per share (the initial public offering price per
common share) to holders of common shares on or about December 31,
2018. Investors in the Funds should consider the distribution
declared today (payable on December 28, 2018), along with the
special distributions declared on October 1, 2018 and November 1,
2018 (each, payable on December 27, 2018), as part of the final
distribution of proceeds in connection with each Fund’s investment
objective. Each Fund’s final liquidating distribution amount is
listed below.
BlackRock Municipal 2018 Term Trust (BPK)
Per-share details are as follows:
Special Distribution Declared
October 1, 2018 (payable December 27, 2018)
$0.2855 Special Distribution Declared November 1, 2018 (payable
December 27, 2018) $0.2050
Final Liquidating Distribution
Announced Today (payable December 28, 2018)
$14.6555 Total Distribution
$15.1460
Since BPK’s inception, the fund’s annualized total return on net
asset value was 5.13% and the market price total return was
4.83%.
BlackRock California Municipal 2018 Term Trust (BJZ)
Per-share details are as follows:
Special Distribution Declared
October 1, 2018 (payable December 27, 2018)
$0.3363 Special Distribution Declared November 1, 2018 (payable
December 27, 2018) $0.1950
Final Liquidating Distribution
Announced Today (payable December 28, 2018)
$14.4870 Total Distribution
$15.0183
Since BJZ’s inception, the fund’s annualized total return on net
asset value was 4.54% and the market price total return was
4.25%.
BlackRock New York Municipal 2018 Term Trust (BLH)
Per-share details are as follows:
Special Distribution Declared
October 1, 2018 (payable December 27, 2018)
$0.2534 Special Distribution Declared November 1, 2018 (payable
December 27, 2018) $0.1750
Final Liquidating Distribution
Announced Today (payable December 28, 2018)
$14.5895 Total Distribution
$15.0179
Since BLH’s inception, the fund’s annualized total return on net
asset value was 4.47% and the market price total return was
4.17%.
Shareholders may recognize gain or loss for U.S. tax purposes as
a result of the liquidation. Gain or loss will generally be
measured as the difference between the final liquidating
distribution announced today and the shareholders tax basis in the
shares of the Fund. BlackRock does not provide tax advice and
investors should consult their individual tax adviser regarding the
tax treatment applicable to a liquidating distribution and any
other payments received in connection with the liquidation.
About BlackRock
BlackRock helps investors build better financial
futures. As a fiduciary to our clients, we provide the
investment and technology solutions they need when planning for
their most important goals. As of September 30, 2018, the firm
managed approximately $6.44 trillion in assets on behalf of
investors worldwide. For additional information on BlackRock,
please visit www.blackrock.com |
Twitter: @blackrock |
Blog: www.blackrockblog.com |
LinkedIn: www.linkedin.com/company/blackrock.
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 Fund 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.
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