BlackRock Announces the Redemption of Certain Auction Market Preferred Stock
March 26 2009 - 4:30PM
Business Wire
BlackRock Preferred Income Strategies Fund, Inc. (NYSE: PSY),
and BlackRock Preferred Opportunity Trust (NYSE: BPP) announced
today the redemption of a portion of their issued and outstanding
auction market preferred stock (�AMPS�), at liquidation preference
of $25,000 per share, together with accrued and unpaid dividends
thereon to the redemption date, if applicable.
The Depository Trust Company (DTC), the holder of record for the
AMPS, determines by random lottery how the redemption will be
allocated among each participant broker-dealer account that holds
AMPS and each participant broker-dealer determines how to allocate
each redemption among the holders of the AMPS held by it.
Please see redemption details for each fund�s respective series
of shares of AMPS below.
PSY:
Series �
CUSIP �
Redemption Date �
Total Shares to
be Redeemed
�
Aggregate Principal
Amount to be Redeemed
M-7 � 09255H204 � April 14, 2009 � 107 � $2,675,000 T-7 � 09255H303
� April 15, 2009 � 107 � $2,675,000 W-7 � 09255H402 � April 16,
2009 � 107 � $2,675,000 TH-7 � 09255H501 � April 13, 2009 � 107 �
$2,675,000 F-7 � 09255H600 � April 13, 2009 � 107 � $2,675,000 W-28
� 09255H709 � May 7, 2009 � 153 � $3,825,000 TH-28 � 09255H808 �
April 24, 2009 � 153 � $3,825,000
BPP:
Series �
CUSIP �
Redemption Date �
Total Shares to
be Redeemed
�
Aggregate Principal
Amount to be Redeemed
T-7 � 09249V202 � April 15, 2009 � 267 � $6,675,000 W-7 � 09249V301
� April 16, 2009 � 267 � $6,675,000 R-7 � 09249V400 � April 17,
2009 � 267 � $6,675,000
About BlackRock
BlackRock is one of the world�s largest publicly traded
investment management firms. At December 31, 2008, BlackRock�s
assets under management were $1.307 trillion. The firm manages
assets on behalf of institutions and individuals worldwide through
a variety of equity, fixed income, cash management and alternative
investment products. In addition, a growing number of institutional
investors use BlackRock Solutions� investment system, risk
management and financial advisory services. The firm is
headquartered in New York City and has employees in 21 countries
throughout the U.S., Europe and Asia Pacific. For additional
information, please visit the firm's website at
www.blackrock.com.
Forward-Looking Statements
This press release, and other statements that BlackRock may
make, may contain forward-looking statements within the meaning of
the Private Securities Litigation Reform Act, with respect to the
BlackRock closed-end funds� 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 and the closed-end funds managed by BlackRock
and its affiliates assume no duty to and do not undertake to update
publicly or revise any forward-looking statements. Actual results
could differ materially from those anticipated in forward-looking
statements and future results could differ materially from
historical performance.
The following factors, among others, could cause actual results
to differ materially from forward-looking statements or historical
occurrences: (1) the ability of the funds to implement the
redemption on a timely basis; (2) the effects of changes in market
and economic conditions; (3) other legal and regulatory
developments; and (4) other additional execution risks and
uncertainties.
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