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ANDREWS TITLE CFO EX-99.77B ACCT LTTR 2 77bTax3.txt REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM To the Shareholders and Board of Trustees/Directors of BlackRock Core Bond Trust, BlackRock Corporate High Yield Fund, Inc., and BlackRock Income Trust, Inc.: In planning and performing our audits of the financial statements of BlackRock Core Bond Trust and BlackRock Income Trust, Inc., and the consolidated financial statements of BlackRock Corporate High Yield Fund, Inc. (collectively, the "Funds"), as of and for the year ended August 31, 2017, in accordance with the standards of the Public Company Accounting Oversight Board (United States), we considered the Funds' internal control over financial reporting, including control over safeguarding securities, as a basis for designing our auditing procedures for the purpose of expressing our opinion on the financial statements and to comply with the requirements of Form N-SAR, but not for the purpose of expressing an opinion on the effectiveness of the Funds' internal control over financial reporting. Accordingly, we express no such opinion. The management of the Funds is responsible for establishing and maintaining effective internal control over financial reporting. In fulfilling this responsibility, estimates and judgments by management are required to assess the expected benefits and related costs of controls. A fund's internal control over financial reporting is a process designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles. A fund's internal control over financial reporting includes those policies and procedures that (1) pertain to the maintenance of records that, in reasonable detail, accurately and fairly reflect the transactions and dispositions of the assets of the fund; (2) provide reasonable assurance that transactions are recorded as necessary to permit preparation of financial statements in accordance with generally accepted accounting principles, and that receipts and expenditures of the fund are being made only in accordance with authorizations of management and trustees/directors of the fund; and (3) provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use, or disposition of a fund's assets that could have a material effect on the financial statements. Because of its inherent limitations, internal control over financial reporting may not prevent or detect misstatements. Also, projections of any evaluation of effectiveness to future periods are subject to the risk that controls may become inadequate because of changes in conditions or that the degree of compliance with the policies or procedures may deteriorate. A deficiency in internal control over financial reporting exists when the design or operation of a control does not allow management or employees, in the normal course of performing their assigned functions, to prevent or detect misstatements on a timely basis. A material weakness is a deficiency, or a combination of deficiencies, in internal control over financial reporting, such that there is a reasonable possibility that a material misstatement of the fund's annual or interim financial statements will not be prevented or detected on a timely basis. Our consideration of the Funds' internal control over financial reporting was for the limited purpose described in the first paragraph and would not necessarily disclose all deficiencies in internal control that might be material weaknesses under standards established by the Public Company Accounting Oversight Board (United States). However, we noted no deficiencies in the Funds' internal control over financial reporting and their operation, including controls for safeguarding securities, that we consider to be a material weakness, as defined above, as of August 31, 2017. This report is intended solely for the information and use of management and the Board of Trustees/Directors of BlackRock Core Bond Trust, BlackRock Corporate High Yield Fund, Inc., and BlackRock Income Trust, Inc., and the Securities and Exchange Commission and is not intended to be and should not be used by anyone other than these specified parties. /s/ Deloitte & Touche LLP Boston, Massachusetts October 24, 2017 EX-99.77O RULE 10F-3 3 77O6.txt [LOGO OF BLACKROCK] Rule 10f-3 Transaction Form Acquisition of Securities During Affiliated Underwritings PARTICIPATING FUNDS .. U.S. Registered Funds (Name of Fund, Aladdin Ticker): ISHARES GLOBAL HIGH YIELD CORPORATE BOND ETF (ISHGHYG) ISHARES IBOXX $ HIGH YIELD CORPORATE BOND ETF (ISHHYLD) ISHARES IBOXX $ HIGH YIELD EX OIL & GAS CORPORATE BOND ETF (ISHHYXE) ISHARES CORE TOTAL USD BOND MARKET ETF (ISHIUSB) BlackRock Core Bond Trust - High Yield (BHK-HYLD) BlackRock Multi-Sector Income Trust - High Yield (BIT-HYLD) BlackRock Limited Duration Income Trust - High Yield (BLW-HYLD) BlackRock Funds, BlackRock Global Long/Short Credit Fund (BR-GC) BlackRock Funds II, High Yield Bond Portfolio (BR-HIYLD) BlackRock Multi-Asset Income - High Yield Portfolio (BR-INC-HY) BlackRock Multi-Asset Income - Passive High Yield Portfolio (BR-INC-PHY) BlackRock Credit Strategies Income - High Yield (BR-MSBHY) BlackRock Credit Allocation Income Trust (Preferred Sleeve) (BTZ-PREF) BlackRock High Yield Portfolio of BlackRock Series Fund, Inc (BVA-HI) BlackRock High Yield V.I. Fund (BVA-HY) BlackRock Debt Strategies Fund, Inc. (DSU) BlackRock Corporate High Yield Fund, Inc. (HYT) MIST BlackRock High Yield Portfolio (MIST-HY) AST BlackRock Global Strategies Portfolio (US High Yield) (PRU-AA-HY) JNL/BlackRock Global Long Short Credit Fund (SMF_CC-GC) THE OFFERING KEY CHARACTERISTICS (COMPLETE ALL FIELDS) Date of Offering Commencement: 09-07-2016 Security Type: BND/CORP Issuer Novelis Corporation (2026) Selling Underwriter Morgan Stanley & Co. LLC Affiliated Underwriter(s) [X] PNC Capital Markets LLC [_] Other: List of Underwriter(s) Morgan Stanley & Co. LLC, Barclays Capital Inc., Citigroup Global Markets Inc., Deutsche Bank Securities Inc., HSBC Securities (USA) Inc., J.P. Morgan Securities LLC, Merrill Lynch, Pierce, Fenner & Smith Incorporated, Standard Chartered Bank, Axis Bank Limited, Singapore Branch, BMO Capital Markets Corp., BNP Paribas Securities Corp., Credit Suisse Securities (USA) LLC, Goldman, Sachs & Co., Natixis Securities Americas LLC, PNC Capital Markets LLC, Regions Securities LLC, Scotia Capital (USA) Inc., SG Americas Securities, LLC, SunTrust Robinson Humphrey, Inc., Wells Fargo Securities, LLC Page 1 of 2 Rule 10f-3 Report - Definitions [LOGO OF BLACKROCK] TRANSACTION DETAILS Date of Purchase 09-07-2016 Purchase Price/Share (PER SHARE / % OF PAR) $100.00 Total Commission, Spread or Profit 1.50% 1. Aggregate Principal Amount Purchased (a+b) $ 140,000,000 a. US Registered Funds (Appendix attached with individual Fund/Client purchase) $ 77,310,000 b. Other BlackRock Clients $ 62,690,000 2. Aggregate Principal Amount of Offering $1,500,000,000 FUND RATIO [Divide Sum of #1 by #2] Must be less than 0.25 0.09333
LEGAL REQUIREMENTS OFFERING TYPE (CHECK ONE) The securities fall into one of the following transaction types (see Definitions): [_] U.S. Registered Public Offering... [Issuer must have 3 years of continuous operations] [X] Eligible Rule 144A Offering....... [Issuer must have 3 years of continuous operations] [_] Eligible Municipal Securities [_] Eligible Foreign Offering......... [Issuer must have 3 years of continuous operations] [_] Government Securities Offering.... [Issuer must have 3 years of continuous operations] TIMING AND PRICE (CHECK ONE OR BOTH) [X] The securities were purchased before the end of the first day on which any sales were made, at a price that was not more than the price paid by each other purchaser of securities in that offering or in any concurrent offering of the securities; and [_] If the securities are offered for subscription upon exercise of rights, the securities were purchased on or before the fourth day before the day on which the rights offering terminated. FIRM COMMITMENT OFFERING (CHECK ONE) [X] YES The securities were offered pursuant to an underwriting or similar [_] NO agreement under which the underwriters were committed to purchase all of the securities being offered, except those purchased by others pursuant to a rights offering, if the underwriters purchased any of the securities. NO BENEFIT TO AFFILIATED UNDERWRITER (CHECK ONE) [X] YES No affiliated underwriter was a direct or indirect participant in, or [_] NO benefited directly or indirectly from, the transaction. Rule 10f-3 Report - Definitions [LOGO OF BLACKROCK] Completed by: Dillip Behera Date: 09-14-2016 -------------------------------- ------------ Global Syndicate Team Member Approved by: Steven DeLaura Date: 09-14-2016 -------------------------------- ------------ Global Syndicate Team Member DEFINITIONS TERM DEFINITION Fund Ratio Number appearing at the bottom of page 1 of 2 of the Rule 10f-3 Report form. It is the sum of the Funds' participation in the offering by the Funds and other accounts managed by BlackRock divided by the total amount of the offering. Rule 10f-3 Report - Definitions [LOGO OF BLACKROCK] TERM DEFINITION Eligible Foreign Offering The securities are sold in a public offering conducted under the laws of a country other than the United States and (a) the offering is subject to regulation in such country by a "foreign financial regulatory authority," as defined in Section 2(a)(50) of the Investment Company Act of 1940; (b) the securities were offered at a fixed price to all purchasers in the offering (except for any rights to purchase securities that are required by law to be granted to existing security holders of the issuer); (c) financial statements, prepared and audited as required or permitted by the appropriate foreign financial regulatory authority in such country, for the two years prior to the offering, were made available to the public and prospective purchasers in connection with the offering; and (d) if the issuer is a "domestic issuer," i.e., other than a foreign government, a national of any foreign country, or a corporation or other organization incorporated or organized under the laws of any foreign country, it (1) has a class of securities registered pursuant to section 12(b) or 12(g) of the Securities Exchange Act of 1934 or is required to file reports pursuant to section 15(d) of that act, and (2) has filed all the material required to be filed pursuant to section 13(a) or 15(d) of that act for a period of at least 12 months immediately preceding the sale of securities (or for such shorter period that the issuer was required to file such material) Rule 10f-3 Report - Definitions [LOGO OF BLACKROCK] TERM DEFINITION Eligible Municipal Securities The securities: (a) are direct obligations of, or obligations guaranteed as to principal or interest by, a State or any political subdivision thereof, or any agency or instrumentality of a State or any political subdivision thereof, or any municipal corporate instrumentality of one or more States, or any security which is an industrial development bond (as defined in section 103(c)(2) of Title 26) the interest on which is excludable from gross income under certain provisions of the Internal Revenue Code; (b) are sufficiently liquid that they can be sold at or near their carrying value within a reasonably short period of time; and (c) either (1) are subject to no greater than moderate credit risk; or (2) if the issuer of the municipal securities, or the entity supplying the revenues or other payments from which the issue is to be paid, has been in continuous operation for less than three years, including the operation of any predecessors, the securities are subject to a minimal or low amount of credit risk. Also, purchases of municipal securities may not be designated as group sales or otherwise allocated to the account of any prohibited seller (i.e., an affiliated underwriter). Eligible Rule 144A Offering The securities are sold in an offering where (a) the securities are offered or sold in transactions exempt from registration under Section 4(2) of the Securities Act of 1933, Rule 144A thereunder, or Rules 501-508 thereunder; (b) the securities were sold to persons that the seller and any person acting on behalf of the seller reasonably believe to include qualified institutional buyers, as defined in Rule 144A ("QIBs"); and (c) the seller and any person acting on behalf of the seller reasonably believe that the securities are eligible for resale to other QIBs pursuant to Rule 144A. Government Securities Offering The security is issued or guaranteed as to principal or interest by the United States, or by a person controlled or supervised by and acting as an instrumentality of the Government of the United States pursuant to authority granted by the Congress of the United States; or any certificate of deposit for any of the foregoing. Rule 10f-3 Report - Definitions [LOGO OF BLACKROCK] TERM DEFINITION U.S. Registered Public Offering. The securities offered are registered under the Securities Act of 1933 that are being offered to the public. EX-99.77O RULE 10F-3 4 77O8.txt [LOGO OF BLACKROCK] Rule 10f-3 Transaction Form Acquisition of Securities During Affiliated Underwritings PARTICIPATING FUNDS .. U.S. Registered Funds (Name of Fund, Aladdin Ticker): BlackRock Core Bond Trust - High Yield (BHK-HYLD) BlackRock Multi-Sector Income Trust - High Yield (BIT-HYLD) BlackRock Limited Duration Income Trust - High Yield (BLW-HYLD) BlackRock Funds II, High Yield Bond Portfolio (BR-HIYLD) BlackRock Multi-Asset Income - High Yield Portfolio (BR-INC-HY) BlackRock Credit Strategies Income - High Yield (BR-MSBHY) BlackRock High Yield Portfolio of BlackRock Series Fund, Inc (BVA-HI) BlackRock High Yield V.I. Fund (BVA-HY) BlackRock Debt Strategies Fund, Inc. (DSU) BlackRock Corporate High Yield Fund, Inc. (HYT) MIST BlackRock High Yield Portfolio (MIST-HY) AST BlackRock Global Strategies Portfolio (US High Yield) (PRU-AA-HY) THE OFFERING KEY CHARACTERISTICS (COMPLETE ALL FIELDS) Date of Offering Commencement: 09-16-2016 Security Type: BND/CORP Issuer Cincinnati Bell Inc. (2024) Selling Underwriter Morgan Stanley & Co. LLC Affiliated Underwriter(s) [X] PNC Capital Markets LLC [_] Other: List of Underwriter(s) Morgan Stanley & Co. LLC, Citigroup Global Markets Inc., Goldman, Sachs & Co., PNC Capital Markets LLC, Regions Securities LLC, Barclays Capital Inc., Citizens Capital Markets, Inc. TRANSACTION DETAILS Date of Purchase 09-16-2016 Purchase Price/Share (PER SHARE / % OF PAR) $100.00 Total Commission, Spread or Profit 1.25% 1. Aggregate Principal Amount Purchased (a+b) $ 50,000,000 a. US Registered Funds (Appendix attached with individual Fund/Client purchase) $ 27,211,000 b. Other BlackRock Clients $ 22,789,000 2. Aggregate Principal Amount of Offering $425,000,000
Page 1 of 2 Rule 10f-3 Report - Definitions [LOGO OF BLACKROCK] FUND RATIO [Divide Sum of #1 by #2] Must be less than 0.25 0.11765
Rule 10f-3 Report - Definitions [LOGO OF BLACKROCK] LEGAL REQUIREMENTS OFFERING TYPE (CHECK ONE) The securities fall into one of the following transaction types (see Definitions): [_] U.S. Registered Public Offering... [Issuer must have 3 years of continuous operations] [X] Eligible Rule 144A Offering....... [Issuer must have 3 years of continuous operations] [_] Eligible Municipal Securities [_] Eligible Foreign Offering......... [Issuer must have 3 years of continuous operations] [_] Government Securities Offering.... [Issuer must have 3 years of continuous operations] TIMING AND PRICE (CHECK ONE OR BOTH) [X] The securities were purchased before the end of the first day on which any sales were made, at a price that was not more than the price paid by each other purchaser of securities in that offering or in any concurrent offering of the securities; and [_] If the securities are offered for subscription upon exercise of rights, the securities were purchased on or before the fourth day before the day on which the rights offering terminated. FIRM COMMITMENT OFFERING (CHECK ONE) [X] YES The securities were offered pursuant to an underwriting or similar [_] NO agreement under which the underwriters were committed to purchase all of the securities being offered, except those purchased by others pursuant to a rights offering, if the underwriters purchased any of the securities. NO BENEFIT TO AFFILIATED UNDERWRITER (CHECK ONE) [X] YES No affiliated underwriter was a direct or indirect participant in, or [_] NO benefited directly or indirectly from, the transaction. Completed by: Dillip Behera Date: 09-20-2016 -------------------------------- ------------ Global Syndicate Team Member Approved by: Steven DeLaura Date: 09-20-2016 -------------------------------- ------------ Global Syndicate Team Member Rule 10f-3 Report - Definitions [LOGO OF BLACKROCK] DEFINITIONS TERM DEFINITION Fund Ratio Number appearing at the bottom of page 1 of 2 of the Rule 10f-3 Report form. It is the sum of the Funds' participation in the offering by the Funds and other accounts managed by BlackRock divided by the total amount of the offering. Eligible Foreign Offering The securities are sold in a public offering conducted under the laws of a country other than the United States and (a) the offering is subject to regulation in such country by a "foreign financial regulatory authority," as defined in Section 2(a)(50) of the Investment Company Act of 1940; (b) the securities were offered at a fixed price to all purchasers in the offering (except for any rights to purchase securities that are required by law to be granted to existing security holders of the issuer); (c) financial statements, prepared and audited as required or permitted by the appropriate foreign financial regulatory authority in such country, for the two years prior to the offering, were made available to the public and prospective purchasers in connection with the offering; and (d) if the issuer is a "domestic issuer," i.e., other than a foreign government, a national of any foreign country, or a corporation or other organization incorporated or organized under the laws of any foreign country, it (1) has a class of securities registered pursuant to section 12(b) or 12(g) of the Securities Exchange Act of 1934 or is required to file reports pursuant to section 15(d) of that act, and (2) has filed all the material required to be filed pursuant to section 13(a) or 15(d) of that act for a period of at least 12 months immediately preceding the sale of securities (or for such shorter period that the issuer was required to file such material) Rule 10f-3 Report - Definitions [LOGO OF BLACKROCK] TERM DEFINITION Eligible Municipal Securities The securities: (a) are direct obligations of, or obligations guaranteed as to principal or interest by, a State or any political subdivision thereof, or any agency or instrumentality of a State or any political subdivision thereof, or any municipal corporate instrumentality of one or more States, or any security which is an industrial development bond (as defined in section 103(c)(2) of Title 26) the interest on which is excludable from gross income under certain provisions of the Internal Revenue Code; (b) are sufficiently liquid that they can be sold at or near their carrying value within a reasonably short period of time; and (c) either (1) are subject to no greater than moderate credit risk; or (2) if the issuer of the municipal securities, or the entity supplying the revenues or other payments from which the issue is to be paid, has been in continuous operation for less than three years, including the operation of any predecessors, the securities are subject to a minimal or low amount of credit risk. Also, purchases of municipal securities may not be designated as group sales or otherwise allocated to the account of any prohibited seller (i.e., an affiliated underwriter). Eligible Rule 144A Offering The securities are sold in an offering where (a) the securities are offered or sold in transactions exempt from registration under Section 4(2) of the Securities Act of 1933, Rule 144A thereunder, or Rules 501-508 thereunder; (b) the securities were sold to persons that the seller and any person acting on behalf of the seller reasonably believe to include qualified institutional buyers, as defined in Rule 144A ("QIBs"); and (c) the seller and any person acting on behalf of the seller reasonably believe that the securities are eligible for resale to other QIBs pursuant to Rule 144A. Government Securities Offering The security is issued or guaranteed as to principal or interest by the United States, or by a person controlled or supervised by and acting as an instrumentality of the Government of the United States pursuant to authority granted by the Congress of the United States; or any certificate of deposit for any of the foregoing. Rule 10f-3 Report - Definitions [LOGO OF BLACKROCK] TERM DEFINITION U.S. Registered Public Offering. The securities offered are registered under the Securities Act of 1933 that are being offered to the public. EX-99.77O RULE 10F-3 5 77O9.txt [LOGO OF BLACKROCK] Rule 10f-3 Transaction Form Acquisition of Securities During Affiliated Underwritings PARTICIPATING FUNDS .. U.S. Registered Funds (Name of Fund, Aladdin Ticker): ISHARES GLOBAL HIGH YIELD CORPORATE BOND ETF (ISHGHYG) ISHARES IBOXX $ HIGH YIELD CORPORATE BOND ETF (ISHHYLD) ISHARES CORE TOTAL USD BOND MARKET ETF (ISHIUSB) BlackRock Core Bond Trust - High Yield (BHK-HYLD) BlackRock Multi-Sector Income Trust - High Yield (BIT-HYLD) BlackRock Limited Duration Income Trust - High Yield (BLW-HYLD) BlackRock Funds II, High Yield Bond Portfolio (BR-HIYLD) BlackRock Multi-Asset Income - High Yield Portfolio (BR-INC-HY) BlackRock Multi-Asset Income - Passive High Yield Portfolio (BR-INC-PHY) BlackRock Credit Strategies Income - High Yield (BR-MSBHY) BlackRock High Yield Portfolio of BlackRock Series Fund, Inc (BVA-HI) BlackRock High Yield V.I. Fund (BVA-HY) BlackRock Debt Strategies Fund, Inc. (DSU) BlackRock Corporate High Yield Fund, Inc. (HYT) MIST BlackRock High Yield Portfolio (MIST-HY) AST BlackRock Global Strategies Portfolio (US High Yield) (PRU-AA-HY) THE OFFERING KEY CHARACTERISTICS (COMPLETE ALL FIELDS) Date of Offering Commencement: 09-22-2016 Security Type: BND/CORP Issuer Targa Resources Partners LP (2025) Selling Underwriter Wells Fargo Securities, LLC Affiliated Underwriter(s) [X] PNC Capital Markets LLC [_] Other: List of Underwriter(s) Wells Fargo Securities, LLC, Merrill Lynch, Pierce, Fenner & Smith Incorporated, Citigroup Global Markets Inc., Barclays Capital Inc., Deutsche Bank Securities Inc., RBC Capital Markets, LLC ., BBVA Securities Inc., Capital One Securities, Inc., Goldman, Sachs & Co., J.P. Morgan Securities LLC, PNC Capital Markets LLC, ABN AMRO Securities (USA) LLC, Credit Suisse Securities (USA) LLC, ING Financial Markets LLC, Morgan Stanley & Co. LLC, MUFG Securities Americas Inc., SMBC Nikko Securities America, Inc., SunTrust Robinson Humphrey, Inc., TD Securities (USA) LLC, BB&T Capital Markets, a division of BB&T Securities, LLC, BNP Paribas Securities Corp., Citizens Capital Markets, Inc., The Huntington Investment Company, Scotia Capital (USA) Inc., U.S. Bancorp Investments, Inc. Page 1 of 2 Rule 10f-3 Report - Definitions [LOGO OF BLACKROCK] TRANSACTION DETAILS Date of Purchase 09-22-2016 Purchase Price/Share (PER SHARE / % OF PAR) $100 Total Commission, Spread or Profit 0.750% 1. Aggregate Principal Amount Purchased (a+b) $ 35,000,000 a. US Registered Funds (Appendix attached with individual Fund/Client purchase) $ 17,561,000 b. Other BlackRock Clients $ 17,439,000 2. Aggregate Principal Amount of Offering $500,000,000 FUND RATIO [Divide Sum of #1 by #2] Must be less than 0.25 0.07
LEGAL REQUIREMENTS OFFERING TYPE (CHECK ONE) The securities fall into one of the following transaction types (see Definitions): [_] U.S. Registered Public Offering... [Issuer must have 3 years of continuous operations] [X] Eligible Rule 144A Offering....... [Issuer must have 3 years of continuous operations] [_] Eligible Municipal Securities [_] Eligible Foreign Offering......... [Issuer must have 3 years of continuous operations] [_] Government Securities Offering.... [Issuer must have 3 years of continuous operations] TIMING AND PRICE (CHECK ONE OR BOTH) [X] The securities were purchased before the end of the first day on which any sales were made, at a price that was not more than the price paid by each other purchaser of securities in that offering or in any concurrent offering of the securities; and [_] If the securities are offered for subscription upon exercise of rights, the securities were purchased on or before the fourth day before the day on which the rights offering terminated. FIRM COMMITMENT OFFERING (CHECK ONE) [X] YES The securities were offered pursuant to an underwriting or similar [_] NO agreement under which the underwriters were committed to purchase all of the securities being offered, except those purchased by others pursuant to a rights offering, if the underwriters purchased any of the securities. NO BENEFIT TO AFFILIATED UNDERWRITER (CHECK ONE) [X] YES No affiliated underwriter was a direct or indirect participant in, or [_] NO benefited directly or indirectly from, the transaction. Rule 10f-3 Report - Definitions [LOGO OF BLACKROCK] Completed by: Dipankar Banerjee Date: 09-30-2016 -------------------------------- ------------ Global Syndicate Team Member Approved by: Steven DeLaura Date: 09-30-2016 -------------------------------- ------------ Global Syndicate Team Member DEFINITIONS TERM DEFINITION Fund Ratio Number appearing at the bottom of page 1 of 2 of the Rule 10f-3 Report form. It is the sum of the Funds' participation in the offering by the Funds and other accounts managed by BlackRock divided by the total amount of the offering. Rule 10f-3 Report - Definitions [LOGO OF BLACKROCK] TERM DEFINITION Eligible Foreign Offering The securities are sold in a public offering conducted under the laws of a country other than the United States and (a) the offering is subject to regulation in such country by a "foreign financial regulatory authority," as defined in Section 2(a)(50) of the Investment Company Act of 1940; (b) the securities were offered at a fixed price to all purchasers in the offering (except for any rights to purchase securities that are required by law to be granted to existing security holders of the issuer); (c) financial statements, prepared and audited as required or permitted by the appropriate foreign financial regulatory authority in such country, for the two years prior to the offering, were made available to the public and prospective purchasers in connection with the offering; and (d) if the issuer is a "domestic issuer," i.e., other than a foreign government, a national of any foreign country, or a corporation or other organization incorporated or organized under the laws of any foreign country, it (1) has a class of securities registered pursuant to section 12(b) or 12(g) of the Securities Exchange Act of 1934 or is required to file reports pursuant to section 15(d) of that act, and (2) has filed all the material required to be filed pursuant to section 13(a) or 15(d) of that act for a period of at least 12 months immediately preceding the sale of securities (or for such shorter period that the issuer was required to file such material) Rule 10f-3 Report - Definitions [LOGO OF BLACKROCK] TERM DEFINITION Eligible Municipal Securities The securities: (a) are direct obligations of, or obligations guaranteed as to principal or interest by, a State or any political subdivision thereof, or any agency or instrumentality of a State or any political subdivision thereof, or any municipal corporate instrumentality of one or more States, or any security which is an industrial development bond (as defined in section 103(c)(2) of Title 26) the interest on which is excludable from gross income under certain provisions of the Internal Revenue Code; (b) are sufficiently liquid that they can be sold at or near their carrying value within a reasonably short period of time; and (c) either (1) are subject to no greater than moderate credit risk; or (2) if the issuer of the municipal securities, or the entity supplying the revenues or other payments from which the issue is to be paid, has been in continuous operation for less than three years, including the operation of any predecessors, the securities are subject to a minimal or low amount of credit risk. Also, purchases of municipal securities may not be designated as group sales or otherwise allocated to the account of any prohibited seller (i.e., an affiliated underwriter). Eligible Rule 144A Offering The securities are sold in an offering where (a) the securities are offered or sold in transactions exempt from registration under Section 4(2) of the Securities Act of 1933, Rule 144A thereunder, or Rules 501-508 thereunder; (b) the securities were sold to persons that the seller and any person acting on behalf of the seller reasonably believe to include qualified institutional buyers, as defined in Rule 144A ("QIBs"); and (c) the seller and any person acting on behalf of the seller reasonably believe that the securities are eligible for resale to other QIBs pursuant to Rule 144A. Government Securities Offering The security is issued or guaranteed as to principal or interest by the United States, or by a person controlled or supervised by and acting as an instrumentality of the Government of the United States pursuant to authority granted by the Congress of the United States; or any certificate of deposit for any of the foregoing. Rule 10f-3 Report - Definitions [LOGO OF BLACKROCK] TERM DEFINITION U.S. Registered Public Offering. The securities offered are registered under the Securities Act of 1933 that are being offered to the public. EX-99.77O RULE 10F-3 6 77O12.txt [LOGO OF BLACKROCK] Rule 10f-3 Transaction Form Acquisition of Securities During Affiliated Underwritings PARTICIPATING FUNDS .. U.S. Registered Funds (Name of Fund, Aladdin Ticker): ISHARES IBOXX $ HIGH YIELD CORPORATE BOND ETFD (ISHHYLD) ISHARES CORE 10+ YEAR USD BOND ETF (ISHILTB) BlackRock Core Bond Trust - High Yield (BHK-HYLD) BlackRock Multi-Sector Income Trust - High Yield (BIT-HYLD) BlackRock Limited Duration Income Trust - High Yield (BLW-HYLD) BlackRock Funds II, High Yield Bond Portfolio (BR-HIYLD) BlackRock Multi-Asset Income - High Yield Portfolio (BR-INC-HY) BlackRock Multi-Asset Income - Passive High Yield Portfolio (BR-INC-PHY) BlackRock Credit Strategies Income - High Yield (BR-MSBHY) BlackRock High Yield Portfolio of BlackRock Series Fund, Inc (BVA-HI) BlackRock High Yield V.I. Fund (BVA-HY) BlackRock Debt Strategies Fund, Inc. (DSU) BlackRock Corporate High Yield Fund, Inc. (HYT) MIST BlackRock High Yield Portfolio (MIST-HY) AST BlackRock Global Strategies Portfolio (US High Yield) (PRU-AA-HY) THE OFFERING KEY CHARACTERISTICS (COMPLETE ALL FIELDS) Date of Offering Commencement: 09-22-2016 Security Type: BND/CORP Issuer Targa Resources Partners LP (2027) Selling Underwriter Wells Fargo Securities, LLC Affiliated Underwriter(s) [X] PNC Capital Markets LLC [_] Other: List of Underwriter(s) Wells Fargo Securities, LLC, Merrill Lynch, Pierce, Fenner & Smith Incorporated, Citigroup Global Markets Inc., Barclays Capital Inc., Deutsche Bank Securities Inc., RBC Capital Markets, LLC ., BBVA Securities Inc., Capital One Securities, Inc., Goldman, Sachs & Co., J.P. Morgan Securities LLC, PNC Capital Markets LLC, ABN AMRO Securities (USA) LLC, Credit Suisse Securities (USA) LLC, ING Financial Markets LLC, Morgan Stanley & Co. LLC, MUFG Securities Americas Inc., SMBC Nikko Securities America, Inc., SunTrust Robinson Humphrey, Inc., TD Securities (USA) LLC, BB&T Capital Markets, a division of BB&T Securities, LLC, BNP Paribas Securities Corp., Citizens Capital Markets, Inc., The Huntington Investment Company, Scotia Capital (USA) Inc., U.S. Bancorp Investments, Inc. Page 1 of 2 Rule 10f-3 Report - Definitions [LOGO OF BLACKROCK] TRANSACTION DETAILS Date of Purchase 09-22-2016 Purchase Price/Share (PER SHARE / % OF PAR) $100 Total Commission, Spread or Profit 0.750% 1. Aggregate Principal Amount Purchased (a+b) $ 35,000,000 a. US Registered Funds (Appendix attached with individual Fund/Client purchase) $ 17,831,000 b. Other BlackRock Clients $ 17,169,000 2. Aggregate Principal Amount of Offering $500,000,000 FUND RATIO [Divide Sum of #1 by #2] Must be less than 0.25 0.07
LEGAL REQUIREMENTS OFFERING TYPE (CHECK ONE) The securities fall into one of the following transaction types (see Definitions): [_] U.S. Registered Public Offering... [Issuer must have 3 years of continuous operations] [X] Eligible Rule 144A Offering....... [Issuer must have 3 years of continuous operations] [_] Eligible Municipal Securities [_] Eligible Foreign Offering......... [Issuer must have 3 years of continuous operations] [_] Government Securities Offering.... [Issuer must have 3 years of continuous operations] TIMING AND PRICE (CHECK ONE OR BOTH) [X] The securities were purchased before the end of the first day on which any sales were made, at a price that was not more than the price paid by each other purchaser of securities in that offering or in any concurrent offering of the securities; and [_] If the securities are offered for subscription upon exercise of rights, the securities were purchased on or before the fourth day before the day on which the rights offering terminated. FIRM COMMITMENT OFFERING (CHECK ONE) [X] YES The securities were offered pursuant to an underwriting or similar [_] NO agreement under which the underwriters were committed to purchase all of the securities being offered, except those purchased by others pursuant to a rights offering, if the underwriters purchased any of the securities. NO BENEFIT TO AFFILIATED UNDERWRITER (CHECK ONE) [X] YES No affiliated underwriter was a direct or indirect participant in, or [_] NO benefited directly or indirectly from, the transaction. Rule 10f-3 Report - Definitions [LOGO OF BLACKROCK] Completed by: Dipankar Banerjee Date: 09-30-2016 -------------------------------- ------------ Global Syndicate Team Member Approved by: Steven DeLaura Date: 09-30-2016 -------------------------------- ------------ Global Syndicate Team Member DEFINITIONS TERM DEFINITION Fund Ratio Number appearing at the bottom of page 1 of 2 of the Rule 10f-3 Report form. It is the sum of the Funds' participation in the offering by the Funds and other accounts managed by BlackRock divided by the total amount of the offering. Rule 10f-3 Report - Definitions [LOGO OF BLACKROCK] TERM DEFINITION Eligible Foreign Offering The securities are sold in a public offering conducted under the laws of a country other than the United States and (a) the offering is subject to regulation in such country by a "foreign financial regulatory authority," as defined in Section 2(a)(50) of the Investment Company Act of 1940; (b) the securities were offered at a fixed price to all purchasers in the offering (except for any rights to purchase securities that are required by law to be granted to existing security holders of the issuer); (c) financial statements, prepared and audited as required or permitted by the appropriate foreign financial regulatory authority in such country, for the two years prior to the offering, were made available to the public and prospective purchasers in connection with the offering; and (d) if the issuer is a "domestic issuer," i.e., other than a foreign government, a national of any foreign country, or a corporation or other organization incorporated or organized under the laws of any foreign country, it (1) has a class of securities registered pursuant to section 12(b) or 12(g) of the Securities Exchange Act of 1934 or is required to file reports pursuant to section 15(d) of that act, and (2) has filed all the material required to be filed pursuant to section 13(a) or 15(d) of that act for a period of at least 12 months immediately preceding the sale of securities (or for such shorter period that the issuer was required to file such material) Rule 10f-3 Report - Definitions [LOGO OF BLACKROCK] TERM DEFINITION Eligible Municipal Securities The securities: (a) are direct obligations of, or obligations guaranteed as to principal or interest by, a State or any political subdivision thereof, or any agency or instrumentality of a State or any political subdivision thereof, or any municipal corporate instrumentality of one or more States, or any security which is an industrial development bond (as defined in section 103(c)(2) of Title 26) the interest on which is excludable from gross income under certain provisions of the Internal Revenue Code; (b) are sufficiently liquid that they can be sold at or near their carrying value within a reasonably short period of time; and (c) either (1) are subject to no greater than moderate credit risk; or (2) if the issuer of the municipal securities, or the entity supplying the revenues or other payments from which the issue is to be paid, has been in continuous operation for less than three years, including the operation of any predecessors, the securities are subject to a minimal or low amount of credit risk. Also, purchases of municipal securities may not be designated as group sales or otherwise allocated to the account of any prohibited seller (i.e., an affiliated underwriter). Eligible Rule 144A Offering The securities are sold in an offering where (a) the securities are offered or sold in transactions exempt from registration under Section 4(2) of the Securities Act of 1933, Rule 144A thereunder, or Rules 501-508 thereunder; (b) the securities were sold to persons that the seller and any person acting on behalf of the seller reasonably believe to include qualified institutional buyers, as defined in Rule 144A ("QIBs"); and (c) the seller and any person acting on behalf of the seller reasonably believe that the securities are eligible for resale to other QIBs pursuant to Rule 144A. Government Securities Offering The security is issued or guaranteed as to principal or interest by the United States, or by a person controlled or supervised by and acting as an instrumentality of the Government of the United States pursuant to authority granted by the Congress of the United States; or any certificate of deposit for any of the foregoing. Rule 10f-3 Report - Definitions [LOGO OF BLACKROCK] TERM DEFINITION U.S. Registered Public The securities offered are registered under the Offering. Securities Act of 1933 that are being offered to the public. EX-99.77O RULE 10F-3 7 77O13.txt [LOGO OF BLACKROCK] Rule 10f-3 Transaction Form Acquisition of Securities During Affiliated Underwritings PARTICIPATING FUNDS .. U.S. Registered Funds (Name of Fund, Aladdin Ticker): ISHARES EDGE U.S. FIXED INCOME BALANCED RISK ETF (ISHFIBR) ISHARES IBOXX $ HIGH YIELD CORPORATE BOND ETF (ISHHYLD) BlackRock Floating Rate Income Trust (BGT2) BlackRock Core Bond Trust - High Yield (BHK-HYLD) BlackRock Defined Opportunity Credit Trust (BHL) BlackRock Multi-Sector Income Trust - High Yield (BIT-HYLD) BlackRock Limited Duration Income Trust - High Yield (BLW-HYLD) BlackRock Limited Duration Income Trust - Bank Loans (BLW-LOAN) BlackRock Floating Rate Income Portfolio (BR-FRI) BlackRock Funds II, High Yield Bond Portfolio (BR-HIYLD) BlackRock Multi-Asset Income - High Yield Portfolio (BR-INC-HY) BlackRock Multi-Asset Income - Passive High Yield Portfolio (BR-INC-PHY) BlackRock Credit Strategies Income - High Yield (BR-MSBHY) BlackRock Credit Allocation Income Trust (Preferred Sleeve) (BTZ-PREF) BlackRock High Yield Portfolio of BlackRock Series Fund, Inc (BVA-HI) BlackRock High Yield V.I. Fund (BVA-HY) BlackRock Debt Strategies Fund, Inc. (DSU) BlackRock Floating Rate Income Strategies Fund, Inc. (FRA) BlackRock Corporate High Yield Fund, Inc. (HYT) MIST BlackRock High Yield Portfolio (MIST-HY) AST BlackRock Global Strategies Portfolio (US High Yield) (PRU-AA-HY) THE OFFERING KEY CHARACTERISTICS (COMPLETE ALL FIELDS) Date of Offering Commencement: 10-06-2016 Security Type: BND/CORP Issuer Gulfport Energy Corporation. (2024) Selling Underwriter Credit Suisse Securities (USA) LLC Affiliated Underwriter(s) [X] PNC Capital Markets LLC [_] Other: List of Underwriter(s) Credit Suisse Securities (USA) LLC., Scotia Capital (USA) Inc., Barclays Capital Inc, KeyBanc Capital Markets Inc, Wells Fargo Securities, LLC, BNP Paribas Securities Corp, BBVA Securities Inc, PNC Capital Markets LLC, U.S. Bancorp Investments, Inc, IBERIA Capital Partners L.L.C, Samuel A. Ramirez & Company, Inc. Page 1 of 2 Rule 10f-3 Report - Definitions [LOGO OF BLACKROCK] TRANSACTION DETAILS Date of Purchase 10-06-2016 Purchase Price/Share (PER SHARE / % OF PAR) $100.00 Total Commission, Spread or Profit 1.43625% 1. Aggregate Principal Amount Purchased (a+b) $ 35,000,000 a. US Registered Funds (Appendix attached with individual Fund/Client purchase) $ 17,753,000 b. Other BlackRock Clients $ 17,247,000 2. Aggregate Principal Amount of Offering $650,000,000 FUND RATIO [Divide Sum of #1 by #2] Must be less than 0.25 0.05385
Rule 10f-3 Report - Definitions [LOGO OF BLACKROCK] LEGAL REQUIREMENTS OFFERING TYPE (CHECK ONE) The securities fall into one of the following transaction types (see Definitions): [_] U.S. Registered Public Offering... [Issuer must have 3 years of continuous operations] [X] Eligible Rule 144A Offering....... [Issuer must have 3 years of continuous operations] [_] Eligible Municipal Securities [_] Eligible Foreign Offering......... [Issuer must have 3 years of continuous operations] [_] Government Securities Offering.... [Issuer must have 3 years of continuous operations] TIMING AND PRICE (CHECK ONE OR BOTH) [X] The securities were purchased before the end of the first day on which any sales were made, at a price that was not more than the price paid by each other purchaser of securities in that offering or in any concurrent offering of the securities; and [_] If the securities are offered for subscription upon exercise of rights, the securities were purchased on or before the fourth day before the day on which the rights offering terminated. FIRM COMMITMENT OFFERING (CHECK ONE) [X] YES The securities were offered pursuant to an underwriting or similar [_] NO agreement under which the underwriters were committed to purchase all of the securities being offered, except those purchased by others pursuant to a rights offering, if the underwriters purchased any of the securities. NO BENEFIT TO AFFILIATED UNDERWRITER (CHECK ONE) [X] YES No affiliated underwriter was a direct or indirect participant in, or [_] NO benefited directly or indirectly from, the transaction. Completed by: Dillip Behera Date: 10-13-2016 -------------------------------- ------------ Global Syndicate Team Member Approved by: Steven DeLaura Date: 10-13-2016 -------------------------------- ------------ Global Syndicate Team Member Rule 10f-3 Report - Definitions [LOGO OF BLACKROCK] DEFINITIONS TERM DEFINITION Fund Ratio Number appearing at the bottom of page 1 of 2 of the Rule 10f-3 Report form. It is the sum of the Funds' participation in the offering by the Funds and other accounts managed by BlackRock divided by the total amount of the offering. Eligible Foreign Offering The securities are sold in a public offering conducted under the laws of a country other than the United States and (a) the offering is subject to regulation in such country by a "foreign financial regulatory authority," as defined in Section 2(a)(50) of the Investment Company Act of 1940; (b) the securities were offered at a fixed price to all purchasers in the offering (except for any rights to purchase securities that are required by law to be granted to existing security holders of the issuer); (c) financial statements, prepared and audited as required or permitted by the appropriate foreign financial regulatory authority in such country, for the two years prior to the offering, were made available to the public and prospective purchasers in connection with the offering; and (d) if the issuer is a "domestic issuer," i.e., other than a foreign government, a national of any foreign country, or a corporation or other organization incorporated or organized under the laws of any foreign country, it (1) has a class of securities registered pursuant to section 12(b) or 12(g) of the Securities Exchange Act of 1934 or is required to file reports pursuant to section 15(d) of that act, and (2) has filed all the material required to be filed pursuant to section 13(a) or 15(d) of that act for a period of at least 12 months immediately preceding the sale of securities (or for such shorter period that the issuer was required to file such material) Rule 10f-3 Report - Definitions [LOGO OF BLACKROCK] TERM DEFINITION Eligible Municipal Securities The securities: (a) are direct obligations of, or obligations guaranteed as to principal or interest by, a State or any political subdivision thereof, or any agency or instrumentality of a State or any political subdivision thereof, or any municipal corporate instrumentality of one or more States, or any security which is an industrial development bond (as defined in section 103(c)(2) of Title 26) the interest on which is excludable from gross income under certain provisions of the Internal Revenue Code; (b) are sufficiently liquid that they can be sold at or near their carrying value within a reasonably short period of time; and (c) either (1) are subject to no greater than moderate credit risk; or (2) if the issuer of the municipal securities, or the entity supplying the revenues or other payments from which the issue is to be paid, has been in continuous operation for less than three years, including the operation of any predecessors, the securities are subject to a minimal or low amount of credit risk. Also, purchases of municipal securities may not be designated as group sales or otherwise allocated to the account of any prohibited seller (i.e., an affiliated underwriter). Eligible Rule 144A Offering The securities are sold in an offering where (a) the securities are offered or sold in transactions exempt from registration under Section 4(2) of the Securities Act of 1933, Rule 144A thereunder, or Rules 501-508 thereunder; (b) the securities were sold to persons that the seller and any person acting on behalf of the seller reasonably believe to include qualified institutional buyers, as defined in Rule 144A ("QIBs"); and (c) the seller and any person acting on behalf of the seller reasonably believe that the securities are eligible for resale to other QIBs pursuant to Rule 144A. Government Securities Offering The security is issued or guaranteed as to principal or interest by the United States, or by a person controlled or supervised by and acting as an instrumentality of the Government of the United States pursuant to authority granted by the Congress of the United States; or any certificate of deposit for any of the foregoing. Rule 10f-3 Report - Definitions [LOGO OF BLACKROCK] TERM DEFINITION U.S. Registered Public The securities offered are registered under the Offering. Securities Act of 1933 that are being offered to the public. EX-99.77O RULE 10F-3 8 77O15.txt [LOGO OF BLACKROCK] Rule 10f-3 Transaction Form Acquisition of Securities During Affiliated Underwritings PARTICIPATING FUNDS .. U.S. Registered Funds (Name of Fund, Aladdin Ticker): ISHARES EDGE U.S. FIXED INCOME BALANCED RISK ETF (ISHFIBR) ISHARES GLOBAL HIGH YIELD CORPORATE BOND ETF (ISHGHYG) ISHARES IBOXX $ HIGH YIELD CORPORATE BOND ETF (ISHHYLD) ISHARES CORE 10+ YEAR USD BOND ETF (ISHILTB) ISHARES CORE TOTAL USD BOND MARKET ETF (ISHIUSB) BlackRock Core Bond Trust - High Yield (BHK-HYLD) BlackRock Multi-Sector Income Trust - High Yield (BIT-HYLD) BlackRock Limited Duration Income Trust - High Yield (BLW-HYLD) BlackRock Funds, BlackRock Global Long/Short Credit Fund (BR-GC) BlackRock Funds II, High Yield Bond Portfolio (BR-HIYLD) BlackRock Multi-Asset Income - High Yield Portfolio (BR-INC-HY) BlackRock Multi-Asset Income - Passive High Yield Portfolio (BR-INC-PHY) BlackRock Credit Strategies Income - High Yield (BR-MSBHY) BlackRock Credit Allocation Income Trust (Preferred Sleeve) (BTZ-PREF) BlackRock High Yield Portfolio of BlackRock Series Fund, Inc (BVA-HI) BlackRock High Yield V.I. Fund (BVA-HY) BlackRock Debt Strategies Fund, Inc. (DSU) BlackRock Corporate High Yield Fund, Inc. (HYT) MIST BlackRock High Yield Portfolio (MIST-HY) AST BlackRock Global Strategies Portfolio (US High Yield) (PRU-AA-HY) JNL/BlackRock Global Long Short Credit Fund (SMF_CC-GC) THE OFFERING KEY CHARACTERISTICS (COMPLETE ALL FIELDS) Date of Offering Commencement: 10-24-2016 Security Type: BND/CORP Issuer United Rentals (North America), Inc. (2027) Selling Underwriter Morgan Stanley & Co. LLC Affiliated Underwriter(s) [X] PNC Capital Markets LLC [_] Other: List of Underwriter(s) Morgan Stanley & Co. LLC, Merrill Lynch, Pierce, Fenner & Smith Incorporated, Wells Fargo Securities, LLC, Citigroup Global Markets Inc., Scotia Capital (USA) Inc., MUFG Securities Americas Inc., Barclays Capital Inc., Deutsche Bank Securities Inc., J.P. Morgan Securities LLC, SunTrust Robinson Humphrey, Inc., BMO Capital Markets Corp., PNC Capital Markets LLC Page 1 of 2 Rule 10f-3 Report - Definitions [LOGO OF BLACKROCK] Transaction Details Date of Purchase 10-24-2016 Purchase Price/Share (PER SHARE / % OF PAR) $100 Total Commission, Spread or Profit 1.250% 1. Aggregate Principal Amount Purchased (a+b) $ 60,000,000 a. US Registered Funds (Appendix attached with individual Fund/Client purchase) $ 28,741,000 b. Other BlackRock Clients $ 31,259,000 2. Aggregate Principal Amount of Offering $750,000,000 FUND RATIO [Divide Sum of #1 by #2] Must be less than 0.25 0.08
Rule 10f-3 Report - Definitions [LOGO OF BLACKROCK] LEGAL REQUIREMENTS OFFERING TYPE (CHECK ONE) The securities fall into one of the following transaction types (see Definitions): [X] U.S. Registered Public Offering... [Issuer must have 3 years of continuous operations] [_] Eligible Rule 144A Offering....... [Issuer must have 3 years of continuous operations] [_] Eligible Municipal Securities [_] Eligible Foreign Offering......... [Issuer must have 3 years of continuous operations] [_] Government Securities Offering.... [Issuer must have 3 years of continuous operations] TIMING AND PRICE (CHECK ONE OR BOTH) [X] The securities were purchased before the end of the first day on which any sales were made, at a price that was not more than the price paid by each other purchaser of securities in that offering or in any concurrent offering of the securities; and [_] If the securities are offered for subscription upon exercise of rights, the securities were purchased on or before the fourth day before the day on which the rights offering terminated. FIRM COMMITMENT OFFERING (CHECK ONE) [X] YES The securities were offered pursuant to an underwriting or similar [_] NO agreement under which the underwriters were committed to purchase all of the securities being offered, except those purchased by others pursuant to a rights offering, if the underwriters purchased any of the securities. NO BENEFIT TO AFFILIATED UNDERWRITER (CHECK ONE) [X] YES No affiliated underwriter was a direct or indirect participant in, or [_] NO benefited directly or indirectly from, the transaction. Completed by: Dipankar Banerjee Date: 11-02-2016 -------------------------------- ------------ Global Syndicate Team Member Approved by: Steven DeLaura Date: 11-02-2016 -------------------------------- ------------ Global Syndicate Team Member Rule 10f-3 Report - Definitions [LOGO OF BLACKROCK] DEFINITIONS TERM DEFINITION Fund Ratio Number appearing at the bottom of page 1 of 2 of the Rule 10f-3 Report form. It is the sum of the Funds' participation in the offering by the Funds and other accounts managed by BlackRock divided by the total amount of the offering. Eligible Foreign Offering The securities are sold in a public offering conducted under the laws of a country other than the United States and (a) the offering is subject to regulation in such country by a "foreign financial regulatory authority," as defined in Section 2(a)(50) of the Investment Company Act of 1940; (b) the securities were offered at a fixed price to all purchasers in the offering (except for any rights to purchase securities that are required by law to be granted to existing security holders of the issuer); (c) financial statements, prepared and audited as required or permitted by the appropriate foreign financial regulatory authority in such country, for the two years prior to the offering, were made available to the public and prospective purchasers in connection with the offering; and (d) if the issuer is a "domestic issuer," i.e., other than a foreign government, a national of any foreign country, or a corporation or other organization incorporated or organized under the laws of any foreign country, it (1) has a class of securities registered pursuant to section 12(b) or 12(g) of the Securities Exchange Act of 1934 or is required to file reports pursuant to section 15(d) of that act, and (2) has filed all the material required to be filed pursuant to section 13(a) or 15(d) of that act for a period of at least 12 months immediately preceding the sale of securities (or for such shorter period that the issuer was required to file such material) Rule 10f-3 Report - Definitions [LOGO OF BLACKROCK] TERM DEFINITION Eligible Municipal Securities The securities: (a) are direct obligations of, or obligations guaranteed as to principal or interest by, a State or any political subdivision thereof, or any agency or instrumentality of a State or any political subdivision thereof, or any municipal corporate instrumentality of one or more States, or any security which is an industrial development bond (as defined in section 103(c)(2) of Title 26) the interest on which is excludable from gross income under certain provisions of the Internal Revenue Code; (b) are sufficiently liquid that they can be sold at or near their carrying value within a reasonably short period of time; and (c) either (1) are subject to no greater than moderate credit risk; or (2) if the issuer of the municipal securities, or the entity supplying the revenues or other payments from which the issue is to be paid, has been in continuous operation for less than three years, including the operation of any predecessors, the securities are subject to a minimal or low amount of credit risk. Also, purchases of municipal securities may not be designated as group sales or otherwise allocated to the account of any prohibited seller (i.e., an affiliated underwriter). Eligible Rule 144A Offering The securities are sold in an offering where (a) the securities are offered or sold in transactions exempt from registration under Section 4(2) of the Securities Act of 1933, Rule 144A thereunder, or Rules 501-508 thereunder; (b) the securities were sold to persons that the seller and any person acting on behalf of the seller reasonably believe to include qualified institutional buyers, as defined in Rule 144A ("QIBs"); and (c) the seller and any person acting on behalf of the seller reasonably believe that the securities are eligible for resale to other QIBs pursuant to Rule 144A. Government Securities Offering The security is issued or guaranteed as to principal or interest by the United States, or by a person controlled or supervised by and acting as an instrumentality of the Government of the United States pursuant to authority granted by the Congress of the United States; or any certificate of deposit for any of the foregoing. Rule 10f-3 Report - Definitions [LOGO OF BLACKROCK] TERM DEFINITION U.S. Registered Public The securities offered are registered under the Offering. Securities Act of 1933 that are being offered to the public. EX-99.77O RULE 10F-3 9 77O16.txt [LOGO OF BLACKROCK] Rule 10f-3 Transaction Form Acquisition of Securities During Affiliated Underwritings PARTICIPATING FUNDS .. U.S. Registered Funds (Name of Fund, Aladdin Ticker): AZL Enhanced Bond Index Fund (AZ-CORE) BlackRock Balanced Capital Portfolio (FI) (BCS_F) BlackRock Core Bond Trust (BHK) BlackRock Multi-Sector Income Trust (BIT) BlackRock Core Bond Portfolio (BR-CORE) Strategic Income Opportunities Fund (BR-SIP) BlackRock Strategic Global Bond Fund, Inc. (BR-WI) BlackRock Total Return V.I. Portfolio (Ins - Var Ser) (BVA-BF) BlackRock Total Return Portfolio (Ins - Series) (BVA-TR) Metropolitan Series Fund, Inc.- BlackRock Bond Income Portfolio (MET-BI) Master Total Return Portfolio of Master Bond LLC (MF-BOND) Advanced Series Trust - AST BlackRock/Loomis Sayles Bond Portfolio (SMF_PRUTR) UBS PACE Intermediate Fixed Income Investments Portfolio (UBS-PACE) THE OFFERING KEY CHARACTERISTICS (COMPLETE ALL FIELDS) Date of Offering Commencement: 10-26-2016 Security Type: BND/CORP Issuer Penske Truck Leasing Co., L.P. (2026) Selling Underwriter J.P. Morgan Securities LLC Affiliated Underwriter(s) [X] PNC Capital Markets LLC [_] Other: List of Underwriter(s) Merrill Lynch, Pierce, Fenner & Smith Incorporated, J.P. Morgan Securities LLC, MUFG Securities Americas Inc, Wells Fargo Securities, LLC, Mizuho Securities USA Inc, Santander Investment Securities Inc, Citizens Capital Markets, Inc., Comerica Securities, Inc., Fifth Third Securities, Inc., The Huntington Investment Company, PNC Capital Markets LLC, RBC Capital Markets, LLC, Scotia Capital (USA) Inc., SMBC Nikko Securities America, Inc., U.S. Bancorp Investments, Inc., The Williams Capital Group, L.P. TRANSACTION DETAILS Date of Purchase 10-26-2016 Purchase Price/Share (PER SHARE / % OF PAR) $99.695 Total Commission, Spread or Profit 0.550% Page 1 of 2 Rule 10f-3 Report - Definitions [LOGO OF BLACKROCK] 1. Aggregate Principal Amount Purchased (a+b) $ 75,000,000 a. US Registered Funds (Appendix attached with individual Fund/Client purchase) $ 22,652,000 b. Other BlackRock Clients $ 52,348,000 2. Aggregate Principal Amount of Offering $600,000,000 FUND RATIO [Divide Sum of #1 by #2] Must be less than 0.25 0.125
Rule 10f-3 Report - Definitions [LOGO OF BLACKROCK] LEGAL REQUIREMENTS OFFERING TYPE (CHECK ONE) The securities fall into one of the following transaction types (see Definitions): [_] U.S. Registered Public Offering... [Issuer must have 3 years of continuous operations] [X] Eligible Rule 144A Offering....... [Issuer must have 3 years of continuous operations] [_] Eligible Municipal Securities [_] Eligible Foreign Offering......... [Issuer must have 3 years of continuous operations] [_] Government Securities Offering.... [Issuer must have 3 years of continuous operations] TIMING AND PRICE (CHECK ONE OR BOTH) [X] The securities were purchased before the end of the first day on which any sales were made, at a price that was not more than the price paid by each other purchaser of securities in that offering or in any concurrent offering of the securities; and [_] If the securities are offered for subscription upon exercise of rights, the securities were purchased on or before the fourth day before the day on which the rights offering terminated. FIRM COMMITMENT OFFERING (CHECK ONE) [X] YES The securities were offered pursuant to an underwriting or similar [_] NO agreement under which the underwriters were committed to purchase all of the securities being offered, except those purchased by others pursuant to a rights offering, if the underwriters purchased any of the securities. NO BENEFIT TO AFFILIATED UNDERWRITER (CHECK ONE) [X] YES No affiliated underwriter was a direct or indirect participant in, or [_] NO benefited directly or indirectly from, the transaction. Completed by: Dipankar Banerjee Date: 11-02-2016 -------------------------------- ------------ Global Syndicate Team Member Approved by: Steven DeLaura Date: 11-02-2016 -------------------------------- ------------ Global Syndicate Team Member Rule 10f-3 Report - Definitions [LOGO OF BLACKROCK] DEFINITIONS TERM DEFINITION Fund Ratio Number appearing at the bottom of page 1 of 2 of the Rule 10f-3 Report form. It is the sum of the Funds' participation in the offering by the Funds and other accounts managed by BlackRock divided by the total amount of the offering. Eligible Foreign Offering The securities are sold in a public offering conducted under the laws of a country other than the United States and (a) the offering is subject to regulation in such country by a "foreign financial regulatory authority," as defined in Section 2(a)(50) of the Investment Company Act of 1940; (b) the securities were offered at a fixed price to all purchasers in the offering (except for any rights to purchase securities that are required by law to be granted to existing security holders of the issuer); (c) financial statements, prepared and audited as required or permitted by the appropriate foreign financial regulatory authority in such country, for the two years prior to the offering, were made available to the public and prospective purchasers in connection with the offering; and (d) if the issuer is a "domestic issuer," i.e., other than a foreign government, a national of any foreign country, or a corporation or other organization incorporated or organized under the laws of any foreign country, it (1) has a class of securities registered pursuant to section 12(b) or 12(g) of the Securities Exchange Act of 1934 or is required to file reports pursuant to section 15(d) of that act, and (2) has filed all the material required to be filed pursuant to section 13(a) or 15(d) of that act for a period of at least 12 months immediately preceding the sale of securities (or for such shorter period that the issuer was required to file such material) Rule 10f-3 Report - Definitions [LOGO OF BLACKROCK] TERM DEFINITION Eligible Municipal Securities The securities: (a) are direct obligations of, or obligations guaranteed as to principal or interest by, a State or any political subdivision thereof, or any agency or instrumentality of a State or any political subdivision thereof, or any municipal corporate instrumentality of one or more States, or any security which is an industrial development bond (as defined in section 103(c)(2) of Title 26) the interest on which is excludable from gross income under certain provisions of the Internal Revenue Code; (b) are sufficiently liquid that they can be sold at or near their carrying value within a reasonably short period of time; and (c) either (1) are subject to no greater than moderate credit risk; or (2) if the issuer of the municipal securities, or the entity supplying the revenues or other payments from which the issue is to be paid, has been in continuous operation for less than three years, including the operation of any predecessors, the securities are subject to a minimal or low amount of credit risk. Also, purchases of municipal securities may not be designated as group sales or otherwise allocated to the account of any prohibited seller (i.e., an affiliated underwriter). Eligible Rule 144A Offering The securities are sold in an offering where (a) the securities are offered or sold in transactions exempt from registration under Section 4(2) of the Securities Act of 1933, Rule 144A thereunder, or Rules 501-508 thereunder; (b) the securities were sold to persons that the seller and any person acting on behalf of the seller reasonably believe to include qualified institutional buyers, as defined in Rule 144A ("QIBs"); and (c) the seller and any person acting on behalf of the seller reasonably believe that the securities are eligible for resale to other QIBs pursuant to Rule 144A. Government Securities Offering The security is issued or guaranteed as to principal or interest by the United States, or by a person controlled or supervised by and acting as an instrumentality of the Government of the United States pursuant to authority granted by the Congress of the United States; or any certificate of deposit for any of the foregoing. Rule 10f-3 Report - Definitions [LOGO OF BLACKROCK] TERM DEFINITION U.S. Registered Public The securities offered are registered under the Offering. Securities Act of 1933 that are being offered to the public. EX-99.77O RULE 10F-3 10 77O17.txt [LOGO OF BLACKROCK] Rule 10f-3 Transaction Form Acquisition of Securities During Affiliated Underwritings PARTICIPATING FUNDS .. U.S. Registered Funds (Name of Fund, Aladdin Ticker): ISHARES CORE U.S. AGGREGATE BOND ETF (ISHAGG) ISHARES EDGE U.S. FIXED INCOME BALANCED RISK ETF (ISHFIBR) ISHARES INTERMEDIATE CREDIT BOND ETF (ISHICRED) ISHARES INTERMEDIATE GOVERNMENT/CREDIT BOND ETF (ISHIGOVCR) AZL Enhanced Bond Index Fund (AZ-CORE) BlackRock Allocation Target Shares: Series C Portfolio (BATSC) BlackRock Core Bond Trust (BHK) BlackRock Multi-Sector Income Trust (BIT) BlackRock Limited Duration Income Trust (BLW) BlackRock Multi Asset Income - Screened Fixed Income Portfolio (BR-INC-PFI) BlackRock Low Duration Bond Portfolio (BR-LO) BlackRock Credit Strategies Income - Investment Grade (BR-MSBIG) Strategic Income Opportunities Fund (BR-SIP) BlackRock Strategic Global Bond Fund, Inc. (BR-WI) Consulting Group Capital Markets Funds (CG-CGCM) CoreAlpha Bond Master Portfolio (MIP_CORA) AST BlackRock Global Strategies Portfolio (Core Active) (PRU-AA-CAB) Advanced Series Trust - AST BlackRock Low Duration Bond Portfolio (SMF_PRULO) UBS PACE Intermediate Fixed Income Investments Portfolio (UBS-PACE) THE OFFERING KEY CHARACTERISTICS (COMPLETE ALL FIELDS) Date of Offering Commencement: 11-30-2016 Security Type: BND/CORP Issuer Analog Devices, Inc. (2026) Selling Underwriter Credit Suisse Securities (USA) LLC Affiliated Underwriter(s) [X] PNC Capital Markets LLC [X] Other: MUFG Securities Americas Inc. for CG-CGCM List of Underwriter(s) J.P. Morgan Securities LLC, Merrill Lynch, Pierce, Fenner & Smith Incorporated, Credit Suisse Securities (USA) LLC, MUFG Securities Americas Inc., Wells Fargo Securities, LLC, PNC Capital Markets LLC, SMBC Nikko Securities America, Inc., BMO Capital Markets Corp., BNY Mellon Capital Markets, LLC, TD Securities (USA) LLC, Fifth Third Securities, Inc., Deutsche Bank Securities Inc., HSBC Securities (USA) Inc. TRANSACTION DETAILS Date of Purchase 11-30-2016 Page 1 of 2 Rule 10f-3 Report - Definitions [LOGO OF BLACKROCK] Purchase Price/Share (PER SHARE / % OF PAR) $99.366 Total Commission, Spread or Profit 0.650% 1. Aggregate Principal Amount Purchased (a+b) $ 80,000,000 a. US Registered Funds (Appendix attached with individual Fund/Client purchase) $ 17,506,000 b. Other BlackRock Clients $ 62,494,000 2. Aggregate Principal Amount of Offering $900,000,000 FUND RATIO [Divide Sum of #1 by #2] Must be less than 0.25 0.08888
Rule 10f-3 Report - Definitions [LOGO OF BLACKROCK] LEGAL REQUIREMENTS OFFERING TYPE (CHECK ONE) The securities fall into one of the following transaction types (see Definitions): [X] U.S. Registered Public Offering... [Issuer must have 3 years of continuous operations] [_] Eligible Rule 144A Offering....... [Issuer must have 3 years of continuous operations] [_] Eligible Municipal Securities [_] Eligible Foreign Offering......... [Issuer must have 3 years of continuous operations] [_] Government Securities Offering.... [Issuer must have 3 years of continuous operations] TIMING AND PRICE (CHECK ONE OR BOTH) [X] The securities were purchased before the end of the first day on which any sales were made, at a price that was not more than the price paid by each other purchaser of securities in that offering or in any concurrent offering of the securities; and [_] If the securities are offered for subscription upon exercise of rights, the securities were purchased on or before the fourth day before the day on which the rights offering terminated. FIRM COMMITMENT OFFERING (CHECK ONE) [X] YES The securities were offered pursuant to an underwriting or similar [_] NO agreement under which the underwriters were committed to purchase all of the securities being offered, except those purchased by others pursuant to a rights offering, if the underwriters purchased any of the securities. NO BENEFIT TO AFFILIATED UNDERWRITER (CHECK ONE) [X] YES No affiliated underwriter was a direct or indirect participant in, or [_] NO benefited directly or indirectly from, the transaction. Completed by: Dipankar Banerjee Date: 12-05-2016 -------------------------------- ------------ Global Syndicate Team Member Approved by: Steven DeLaura Date: 12-05-2016 -------------------------------- ------------ Global Syndicate Team Member Rule 10f-3 Report - Definitions [LOGO OF BLACKROCK] DEFINITIONS TERM DEFINITION Fund Ratio Number appearing at the bottom of page 1 of 2 of the Rule 10f-3 Report form. It is the sum of the Funds' participation in the offering by the Funds and other accounts managed by BlackRock divided by the total amount of the offering. Eligible Foreign Offering The securities are sold in a public offering conducted under the laws of a country other than the United States and (a) the offering is subject to regulation in such country by a "foreign financial regulatory authority," as defined in Section 2(a)(50) of the Investment Company Act of 1940; (b) the securities were offered at a fixed price to all purchasers in the offering (except for any rights to purchase securities that are required by law to be granted to existing security holders of the issuer); (c) financial statements, prepared and audited as required or permitted by the appropriate foreign financial regulatory authority in such country, for the two years prior to the offering, were made available to the public and prospective purchasers in connection with the offering; and (d) if the issuer is a "domestic issuer," i.e., other than a foreign government, a national of any foreign country, or a corporation or other organization incorporated or organized under the laws of any foreign country, it (1) has a class of securities registered pursuant to section 12(b) or 12(g) of the Securities Exchange Act of 1934 or is required to file reports pursuant to section 15(d) of that act, and (2) has filed all the material required to be filed pursuant to section 13(a) or 15(d) of that act for a period of at least 12 months immediately preceding the sale of securities (or for such shorter period that the issuer was required to file such material) Rule 10f-3 Report - Definitions [LOGO OF BLACKROCK] TERM DEFINITION Eligible Municipal Securities The securities: (a) are direct obligations of, or obligations guaranteed as to principal or interest by, a State or any political subdivision thereof, or any agency or instrumentality of a State or any political subdivision thereof, or any municipal corporate instrumentality of one or more States, or any security which is an industrial development bond (as defined in section 103(c)(2) of Title 26) the interest on which is excludable from gross income under certain provisions of the Internal Revenue Code; (b) are sufficiently liquid that they can be sold at or near their carrying value within a reasonably short period of time; and (c) either (1) are subject to no greater than moderate credit risk; or (2) if the issuer of the municipal securities, or the entity supplying the revenues or other payments from which the issue is to be paid, has been in continuous operation for less than three years, including the operation of any predecessors, the securities are subject to a minimal or low amount of credit risk. Also, purchases of municipal securities may not be designated as group sales or otherwise allocated to the account of any prohibited seller (i.e., an affiliated underwriter). Eligible Rule 144A Offering The securities are sold in an offering where (a) the securities are offered or sold in transactions exempt from registration under Section 4(2) of the Securities Act of 1933, Rule 144A thereunder, or Rules 501-508 thereunder; (b) the securities were sold to persons that the seller and any person acting on behalf of the seller reasonably believe to include qualified institutional buyers, as defined in Rule 144A ("QIBs"); and (c) the seller and any person acting on behalf of the seller reasonably believe that the securities are eligible for resale to other QIBs pursuant to Rule 144A. Government Securities Offering The security is issued or guaranteed as to principal or interest by the United States, or by a person controlled or supervised by and acting as an instrumentality of the Government of the United States pursuant to authority granted by the Congress of the United States; or any certificate of deposit for any of the foregoing. Rule 10f-3 Report - Definitions [LOGO OF BLACKROCK] TERM DEFINITION U.S. Registered Public The securities offered are registered under the Offering. Securities Act of 1933 that are being offered to the public. EX-99.77O RULE 10F-3 11 77O19.txt [LOGO OF BLACKROCK] Rule 10f-3 Transaction Form Acquisition of Securities During Affiliated Underwritings PARTICIPATING FUNDS .. U.S. Registered Funds (Name of Fund, Aladdin Ticker): ISHARES CORE TOTAL USD BOND MARKET ETF (ISHIUSB) BlackRock Core Bond Trust - High Yield (BHK-HYLD) BlackRock Multi-Sector Income Trust - High Yield (BIT-HYLD) BlackRock Limited Duration Income Trust - High Yield (BLW-HYLD) BlackRock Funds II, High Yield Bond Portfolio (BR-HIYLD) BlackRock Credit Strategies Income - High Yield (BR-MSBHY) BlackRock High Yield Portfolio of BlackRock Series Fund, Inc (BVA-HI) BlackRock High Yield V.I. Fund (BVA-HY) BlackRock Corporate High Yield Fund, Inc. (HYT) MIST BlackRock High Yield Portfolio (MIST-HY) THE OFFERING KEY CHARACTERISTICS (COMPLETE ALL FIELDS) Date of Offering Commencement: 12-08-2016 Security Type: BND/CORP Issuer ACCO Brands Corporation (2024) Selling Underwriter Barclays Capital Inc Affiliated Underwriter(s) [X] PNC Capital Markets LLC [_] Other: List of Underwriter(s) Barclays Capital Inc, BMO Capital Markets Corp., Merrill Lynch, Pierce, Fenner & Smith Incorporated, Wells Fargo Securities, LLC, KeyBanc Capital Markets Inc, PNC Capital Markets LLC, BBVA Securities Inc., Barrington Research Associate, SunTrust Robinson Humphrey, Inc, Sidoti & Company LLC TRANSACTION DETAILS Date of Purchase 12-08-2016 Purchase Price/Share (PER SHARE / % OF PAR) $100 Total Commission, Spread or Profit 1.250% 1. Aggregate Principal Amount Purchased (a+b) $27,500,000 a. US Registered Funds (Appendix attached with individual Fund/Client purchase) $13,384,000 b. Other BlackRock Clients $14,116,000
Page 1 of 2 Rule 10f-3 Report - Definitions [LOGO OF BLACKROCK] 2. Aggregate Principal Amount of Offering $400,000,000 FUND RATIO [Divide Sum of #1 by #2] Must be less than 0.25 0.06875
Rule 10f-3 Report - Definitions [LOGO OF BLACKROCK] LEGAL REQUIREMENTS OFFERING TYPE (CHECK ONE) The securities fall into one of the following transaction types (see Definitions): [_] U.S. Registered Public Offering... [Issuer must have 3 years of continuous operations] [X] Eligible Rule 144A Offering....... [Issuer must have 3 years of continuous operations] [_] Eligible Municipal Securities [_] Eligible Foreign Offering......... [Issuer must have 3 years of continuous operations] [_] Government Securities Offering.... [Issuer must have 3 years of continuous operations] TIMING AND PRICE (CHECK ONE OR BOTH) [X] The securities were purchased before the end of the first day on which any sales were made, at a price that was not more than the price paid by each other purchaser of securities in that offering or in any concurrent offering of the securities; and [_] If the securities are offered for subscription upon exercise of rights, the securities were purchased on or before the fourth day before the day on which the rights offering terminated. FIRM COMMITMENT OFFERING (CHECK ONE) [X] YES The securities were offered pursuant to an underwriting or similar [_] NO agreement under which the underwriters were committed to purchase all of the securities being offered, except those purchased by others pursuant to a rights offering, if the underwriters purchased any of the securities. NO BENEFIT TO AFFILIATED UNDERWRITER (CHECK ONE) [X] YES No affiliated underwriter was a direct or indirect participant in, or [_] NO benefited directly or indirectly from, the transaction. Completed by: Dipankar Banerjee Date: 12-12-2016 -------------------------------- ------------ Global Syndicate Team Member Approved by: Steven DeLaura Date: 12-12-2016 -------------------------------- ------------ Global Syndicate Team Member Rule 10f-3 Report - Definitions [LOGO OF BLACKROCK] DEFINITIONS TERM DEFINITION Fund Ratio Number appearing at the bottom of page 1 of 2 of the Rule 10f-3 Report form. It is the sum of the Funds' participation in the offering by the Funds and other accounts managed by BlackRock divided by the total amount of the offering. Eligible Foreign Offering The securities are sold in a public offering conducted under the laws of a country other than the United States and (a) the offering is subject to regulation in such country by a "foreign financial regulatory authority," as defined in Section 2(a)(50) of the Investment Company Act of 1940; (b) the securities were offered at a fixed price to all purchasers in the offering (except for any rights to purchase securities that are required by law to be granted to existing security holders of the issuer); (c) financial statements, prepared and audited as required or permitted by the appropriate foreign financial regulatory authority in such country, for the two years prior to the offering, were made available to the public and prospective purchasers in connection with the offering; and (d) if the issuer is a "domestic issuer," i.e., other than a foreign government, a national of any foreign country, or a corporation or other organization incorporated or organized under the laws of any foreign country, it (1) has a class of securities registered pursuant to section 12(b) or 12(g) of the Securities Exchange Act of 1934 or is required to file reports pursuant to section 15(d) of that act, and (2) has filed all the material required to be filed pursuant to section 13(a) or 15(d) of that act for a period of at least 12 months immediately preceding the sale of securities (or for such shorter period that the issuer was required to file such material) Rule 10f-3 Report - Definitions [LOGO OF BLACKROCK] TERM DEFINITION Eligible Municipal Securities The securities: (a) are direct obligations of, or obligations guaranteed as to principal or interest by, a State or any political subdivision thereof, or any agency or instrumentality of a State or any political subdivision thereof, or any municipal corporate instrumentality of one or more States, or any security which is an industrial development bond (as defined in section 103(c)(2) of Title 26) the interest on which is excludable from gross income under certain provisions of the Internal Revenue Code; (b) are sufficiently liquid that they can be sold at or near their carrying value within a reasonably short period of time; and (c) either (1) are subject to no greater than moderate credit risk; or (2) if the issuer of the municipal securities, or the entity supplying the revenues or other payments from which the issue is to be paid, has been in continuous operation for less than three years, including the operation of any predecessors, the securities are subject to a minimal or low amount of credit risk. Also, purchases of municipal securities may not be designated as group sales or otherwise allocated to the account of any prohibited seller (i.e., an affiliated underwriter). Eligible Rule 144A Offering The securities are sold in an offering where (a) the securities are offered or sold in transactions exempt from registration under Section 4(2) of the Securities Act of 1933, Rule 144A thereunder, or Rules 501-508 thereunder; (b) the securities were sold to persons that the seller and any person acting on behalf of the seller reasonably believe to include qualified institutional buyers, as defined in Rule 144A ("QIBs"); and (c) the seller and any person acting on behalf of the seller reasonably believe that the securities are eligible for resale to other QIBs pursuant to Rule 144A. Government Securities Offering The security is issued or guaranteed as to principal or interest by the United States, or by a person controlled or supervised by and acting as an instrumentality of the Government of the United States pursuant to authority granted by the Congress of the United States; or any certificate of deposit for any of the foregoing. Rule 10f-3 Report - Definitions [LOGO OF BLACKROCK] TERM DEFINITION U.S. Registered Public Offering. The securities offered are registered under the Securities Act of 1933 that are being offered to the public. EX-99.77O RULE 10F-3 12 77O20.txt [LOGO OF BLACKROCK] Rule 10f-3 Transaction Form Acquisition of Securities During Affiliated Underwritings PARTICIPATING FUNDS .. U.S. Registered Funds (Name of Fund, Aladdin Ticker): BlackRock Core Bond Trust - High Yield (BHK-HYLD) BlackRock Multi-Sector Income Trust - High Yield (BIT-HYLD) BlackRock Limited Duration Income Trust - High Yield (BLW-HYLD) BlackRock Funds II, High Yield Bond Portfolio (BR-HIYLD) BlackRock Credit Strategies Income - High Yield (BR-MSBHY) BlackRock High Yield Portfolio of BlackRock Series Fund, Inc (BVA-HI) BlackRock High Yield V.I. Fund (BVA-HY) BlackRock Debt Strategies Fund, Inc. (DSU) BlackRock Corporate High Yield Fund, Inc. (HYT) MIST BlackRock High Yield Portfolio (MIST-HY) AST BlackRock Global Strategies Portfolio (US High Yield) (PRU-AA-HY) THE OFFERING KEY CHARACTERISTICS (COMPLETE ALL FIELDS) Date of Offering Commencement: 12-12-2016 Security Type: BND/CORP Issuer RSP Permian, Inc. (2025) Selling Underwriter Barclays Capital Inc. Affiliated Underwriter(s) [X] PNC Capital Markets LLC [_] Other: List of Underwriter(s) Barclays Capital Inc., RBC Capital Markets, LLC, Goldman, Sachs & Co., J.P. Morgan Securities LLC, Merrill Lynch, Pierce, Fenner & Smith Incorporated, Citigroup Global Markets Inc., ABN AMRO Securities (USA) LLC, BBVA Securities Inc., BOK Financial Securities, Inc.., Comerica Securities, Inc., Scotia Capital (USA) Inc., U.S. Bancorp Investments, Inc., BMO Capital Markets Corp., Capital One Securities, Inc., CIBC World Markets Corp., Fifth Third Securities, Inc., ING Financial Markets LLC., PNC Capital Markets LLC, BB&T Capital Markets, a division of BB&T Securities, LLC., KeyBanc Capital Markets Inc., TD Securities (USA) LLC TRANSACTION DETAILS Date of Purchase 12-12-2016 Purchase Price/Share (PER SHARE / % OF PAR) $100 Total Commission, Spread or Profit 1.00% Page 1 of 2 Rule 10f-3 Report - Definitions [LOGO OF BLACKROCK] 1. Aggregate Principal Amount Purchased (a+b) $ 25,000,000 a. US Registered Funds (Appendix attached with individual Fund/Client purchase) $ 12,463,000 b. Other BlackRock Clients $ 12,537,000 2. Aggregate Principal Amount of Offering $450,000,000 FUND RATIO [Divide Sum of #1 by #2] Must be less than 0.25 0.05555
Rule 10f-3 Report - Definitions [LOGO OF BLACKROCK] LEGAL REQUIREMENTS OFFERING TYPE (CHECK ONE) The securities fall into one of the following transaction types (see Definitions): [_] U.S. Registered Public Offering... [Issuer must have 3 years of continuous operations] [X] Eligible Rule 144A Offering....... [Issuer must have 3 years of continuous operations] [_] Eligible Municipal Securities [_] Eligible Foreign Offering......... [Issuer must have 3 years of continuous operations] [_] Government Securities Offering.... [Issuer must have 3 years of continuous operations] TIMING AND PRICE (CHECK ONE OR BOTH) [X] The securities were purchased before the end of the first day on which any sales were made, at a price that was not more than the price paid by each other purchaser of securities in that offering or in any concurrent offering of the securities; and [_] If the securities are offered for subscription upon exercise of rights, the securities were purchased on or before the fourth day before the day on which the rights offering terminated. FIRM COMMITMENT OFFERING (CHECK ONE) [X] YES The securities were offered pursuant to an underwriting or similar [_] NO agreement under which the underwriters were committed to purchase all of the securities being offered, except those purchased by others pursuant to a rights offering, if the underwriters purchased any of the securities. NO BENEFIT TO AFFILIATED UNDERWRITER (CHECK ONE) [X] YES No affiliated underwriter was a direct or indirect participant in, or [_] NO benefited directly or indirectly from, the transaction. Completed by: Dipankar Banerjee Date: 12-20-2016 -------------------------------- ------------ Global Syndicate Team Member Approved by: Steven DeLaura Date: 12-20-2016 -------------------------------- ------------ Global Syndicate Team Member Rule 10f-3 Report - Definitions [LOGO OF BLACKROCK] DEFINITIONS TERM DEFINITION Fund Ratio Number appearing at the bottom of page 1 of 2 of the Rule 10f-3 Report form. It is the sum of the Funds' participation in the offering by the Funds and other accounts managed by BlackRock divided by the total amount of the offering. Eligible Foreign Offering The securities are sold in a public offering conducted under the laws of a country other than the United States and (a) the offering is subject to regulation in such country by a "foreign financial regulatory authority," as defined in Section 2(a)(50) of the Investment Company Act of 1940; (b) the securities were offered at a fixed price to all purchasers in the offering (except for any rights to purchase securities that are required by law to be granted to existing security holders of the issuer); (c) financial statements, prepared and audited as required or permitted by the appropriate foreign financial regulatory authority in such country, for the two years prior to the offering, were made available to the public and prospective purchasers in connection with the offering; and (d) if the issuer is a "domestic issuer," i.e., other than a foreign government, a national of any foreign country, or a corporation or other organization incorporated or organized under the laws of any foreign country, it (1) has a class of securities registered pursuant to section 12(b) or 12(g) of the Securities Exchange Act of 1934 or is required to file reports pursuant to section 15(d) of that act, and (2) has filed all the material required to be filed pursuant to section 13(a) or 15(d) of that act for a period of at least 12 months immediately preceding the sale of securities (or for such shorter period that the issuer was required to file such material) Rule 10f-3 Report - Definitions [LOGO OF BLACKROCK] TERM DEFINITION Eligible Municipal Securities The securities: (a) are direct obligations of, or obligations guaranteed as to principal or interest by, a State or any political subdivision thereof, or any agency or instrumentality of a State or any political subdivision thereof, or any municipal corporate instrumentality of one or more States, or any security which is an industrial development bond (as defined in section 103(c)(2) of Title 26) the interest on which is excludable from gross income under certain provisions of the Internal Revenue Code; (b) are sufficiently liquid that they can be sold at or near their carrying value within a reasonably short period of time; and (c) either (1) are subject to no greater than moderate credit risk; or (2) if the issuer of the municipal securities, or the entity supplying the revenues or other payments from which the issue is to be paid, has been in continuous operation for less than three years, including the operation of any predecessors, the securities are subject to a minimal or low amount of credit risk. Also, purchases of municipal securities may not be designated as group sales or otherwise allocated to the account of any prohibited seller (i.e., an affiliated underwriter). Eligible Rule 144A Offering The securities are sold in an offering where (a) the securities are offered or sold in transactions exempt from registration under Section 4(2) of the Securities Act of 1933, Rule 144A thereunder, or Rules 501-508 thereunder; (b) the securities were sold to persons that the seller and any person acting on behalf of the seller reasonably believe to include qualified institutional buyers, as defined in Rule 144A ("QIBs"); and (c) the seller and any person acting on behalf of the seller reasonably believe that the securities are eligible for resale to other QIBs pursuant to Rule 144A. Government Securities Offering The security is issued or guaranteed as to principal or interest by the United States, or by a person controlled or supervised by and acting as an instrumentality of the Government of the United States pursuant to authority granted by the Congress of the United States; or any certificate of deposit for any of the foregoing. Rule 10f-3 Report - Definitions [LOGO OF BLACKROCK] TERM DEFINITION U.S. Registered Public The securities offered are registered under the Offering. Securities Act of 1933 that are being offered to the public. EX-99.77O RULE 10F-3 13 77O25.txt [LOGO OF BLACKROCK] Rule 10f-3 Transaction Form Acquisition of Securities During Affiliated Underwritings PARTICIPATING FUNDS .. U.S. Registered Funds (Name of Fund, Aladdin Ticker): BlackRock Core Bond Trust (BHK) BlackRock Core Bond Trust - High Yield (BHK-HYLD) BlackRock Multi-Sector Income Trust (BIT) BlackRock Multi-Sector Income Trust - High Yield (BIT-HYLD) BlackRock Limited Duration Income Trust (BLW) BlackRock Limited Duration Income Trust - High Yield (BLW-HYLD) BlackRock Dynamic High Income - Preferred Stock Portfolio (BR-DHI-PS) BlackRock Funds, BlackRock Global Long/Short Credit Fund (BR-GC) BlackRock Funds II, High Yield Bond Portfolio (BR-HIYLD) BlackRock Multi-Asset Income - Preferred Stock Portfolio (BR-INC-PS) BlackRock Managed Income - Preferred Stock Portfolio (BR-MI-PS) BlackRock Credit Strategies Income - Investment Grade (BR-MSBIG) Strategic Income Opportunities Fund (BR-SIP) BlackRock High Yield Portfolio of BlackRock Series Fund, Inc (BVA-HI) BlackRock High Yield V.I. Fund (BVA-HY) BlackRock Corporate High Yield Fund, Inc. (HYT) MIST BlackRock High Yield Portfolio (MIST-HY) AST BlackRock Global Strategies Portfolio (US High Yield) (PRU-AA-HY) JNL/BlackRock Global Long Short Credit Fund (SMF_CC-GC) UBS PACE Intermediate Fixed Income Investments Portfolio (UBS-PACE) THE OFFERING KEY CHARACTERISTICS (COMPLETE ALL FIELDS) Date of Offering Commencement: 01-24-2017 Security Type: BND/CORP Issuer Morgan Stanley (2049) Selling Underwriter Morgan Stanley & Co. LLC Affiliated Underwriter(s) [X] PNC Capital Markets LLC [X] Other: UBS Securities LLC for UBS-PACE List of Underwriter(s) Morgan Stanley & Co. LLC, Citigroup Global Markets Inc., Goldman, Sachs & Co., J.P. Morgan Securities LLC, Merrill Lynch, Pierce, Fenner & Smith Incorporated, MUFG Securities Americas Inc., RBC Capital Markets, LLC, UBS Securities LLC, Wells Fargo Securities, LLC, ABN AMRO Securities (USA) LLC, ANZ Securities, Inc., Barclays Capital Inc., BB&T Capital Markets, a division of BB&T Securities, LLC, Capital One Southcoast, Inc., Citizens Capital Markets, Inc., Deutsche Bank Securities Inc., FTN Financial Securities Corp., ING Financial Markets LLC, Keefe, Bruyette & Woods, Inc., PNC Capital Markets LLC, RBS Securities Inc., Scotia Capital (USA) Inc., SG Americas Securities LLC, TD Securities (USA) LLC, UniCredit Capital Markets LLC, U.S. Bancorp Investments, Inc., Academy Securities, Inc., Apto Partners, LLC, Blaylock Beal Van, LLC, CastleOak Securities, L.P., Drexel Hamilton, LLC, Great Pacific Securities, Lebenthal & Co., LLC, Loop Capital Markets LLC, Mischler Financial Group, Inc., Multi-Bank Securities, Inc., Samuel A. Ramirez & Company, Inc., Siebert Cisneros Shank & Co., L.L.C., Telsey Advisory Group LLC, The Williams Capital Group, L.P. Page 1 of 2 Rule 10f-3 Report - Definitions [LOGO OF BLACKROCK] TRANSACTION DETAILS Date of Purchase 01-24-2017 Purchase Price/Share (PER SHARE / % OF PAR) $25 Total Commission, Spread or Profit 3.150% 1. Aggregate Principal Amount Purchased (a+b) 7,200,000 a. US Registered Funds (Appendix attached with individual Fund/Client purchase) 4,776,090 b. Other BlackRock Clients 2,423,910 2. Aggregate Principal Amount of Offering 40,000,000 FUND RATIO [Divide Sum of #1 by #2] Must be less than 0.25 0.18
Rule 10f-3 Report - Definitions [LOGO OF BLACKROCK] LEGAL REQUIREMENTS OFFERING TYPE (CHECK ONE) The securities fall into one of the following transaction types (see Definitions): [X] U.S. Registered Public Offering... [Issuer must have 3 years of continuous operations] [_] Eligible Rule 144A Offering....... [Issuer must have 3 years of continuous operations] [_] Eligible Municipal Securities [_] Eligible Foreign Offering......... [Issuer must have 3 years of continuous operations] [_] Government Securities Offering.... [Issuer must have 3 years of continuous operations] TIMING AND PRICE (CHECK ONE OR BOTH) [X] The securities were purchased before the end of the first day on which any sales were made, at a price that was not more than the price paid by each other purchaser of securities in that offering or in any concurrent offering of the securities; and [_] If the securities are offered for subscription upon exercise of rights, the securities were purchased on or before the fourth day before the day on which the rights offering terminated. FIRM COMMITMENT OFFERING (CHECK ONE) [X] YES The securities were offered pursuant to an underwriting or similar [_] NO agreement under which the underwriters were committed to purchase all of the securities being offered, except those purchased by others pursuant to a rights offering, if the underwriters purchased any of the securities. NO BENEFIT TO AFFILIATED UNDERWRITER (CHECK ONE) [X] YES No affiliated underwriter was a direct or indirect participant in, or [_] NO benefited directly or indirectly from, the transaction. Completed by: Dipankar Banerjee Date: 01-26-2017 -------------------------------- ------------ Global Syndicate Team Member Approved by: Steven DeLaura Date: 01-26-2017 -------------------------------- ------------ Global Syndicate Team Member Rule 10f-3 Report - Definitions [LOGO OF BLACKROCK] DEFINITIONS TERM DEFINITION Fund Ratio Number appearing at the bottom of page 1 of 2 of the Rule 10f-3 Report form. It is the sum of the Funds' participation in the offering by the Funds and other accounts managed by BlackRock divided by the total amount of the offering. Eligible Foreign Offering The securities are sold in a public offering conducted under the laws of a country other than the United States and (a) the offering is subject to regulation in such country by a "foreign financial regulatory authority," as defined in Section 2(a)(50) of the Investment Company Act of 1940; (b) the securities were offered at a fixed price to all purchasers in the offering (except for any rights to purchase securities that are required by law to be granted to existing security holders of the issuer); (c) financial statements, prepared and audited as required or permitted by the appropriate foreign financial regulatory authority in such country, for the two years prior to the offering, were made available to the public and prospective purchasers in connection with the offering; and (d) if the issuer is a "domestic issuer," i.e., other than a foreign government, a national of any foreign country, or a corporation or other organization incorporated or organized under the laws of any foreign country, it (1) has a class of securities registered pursuant to section 12(b) or 12(g) of the Securities Exchange Act of 1934 or is required to file reports pursuant to section 15(d) of that act, and (2) has filed all the material required to be filed pursuant to section 13(a) or 15(d) of that act for a period of at least 12 months immediately preceding the sale of securities (or for such shorter period that the issuer was required to file such material) Rule 10f-3 Report - Definitions [LOGO OF BLACKROCK] TERM DEFINITION Eligible Municipal Securities The securities: (a) are direct obligations of, or obligations guaranteed as to principal or interest by, a State or any political subdivision thereof, or any agency or instrumentality of a State or any political subdivision thereof, or any municipal corporate instrumentality of one or more States, or any security which is an industrial development bond (as defined in section 103(c)(2) of Title 26) the interest on which is excludable from gross income under certain provisions of the Internal Revenue Code; (b) are sufficiently liquid that they can be sold at or near their carrying value within a reasonably short period of time; and (c) either (1) are subject to no greater than moderate credit risk; or (2) if the issuer of the municipal securities, or the entity supplying the revenues or other payments from which the issue is to be paid, has been in continuous operation for less than three years, including the operation of any predecessors, the securities are subject to a minimal or low amount of credit risk. Also, purchases of municipal securities may not be designated as group sales or otherwise allocated to the account of any prohibited seller (i.e., an affiliated underwriter). Eligible Rule 144A Offering The securities are sold in an offering where (a) the securities are offered or sold in transactions exempt from registration under Section 4(2) of the Securities Act of 1933, Rule 144A thereunder, or Rules 501-508 thereunder; (b) the securities were sold to persons that the seller and any person acting on behalf of the seller reasonably believe to include qualified institutional buyers, as defined in Rule 144A ("QIBs"); and (c) the seller and any person acting on behalf of the seller reasonably believe that the securities are eligible for resale to other QIBs pursuant to Rule 144A. Government Securities Offering The security is issued or guaranteed as to principal or interest by the United States, or by a person controlled or supervised by and acting as an instrumentality of the Government of the United States pursuant to authority granted by the Congress of the United States; or any certificate of deposit for any of the foregoing. Rule 10f-3 Report - Definitions [LOGO OF BLACKROCK] TERM DEFINITION U.S. Registered Public The securities offered are registered under the Offering. Securities Act of 1933 that are being offered to the public. EX-99.77O RULE 10F-3 14 77O28.txt [LOGO OF BLACKROCK] Rule 10f-3 Transaction Form Acquisition of Securities During Affiliated Underwritings PARTICIPATING FUNDS .. U.S. Registered Funds (Name of Fund, Aladdin Ticker): ISHARES CORE TOTAL USD BOND MARKET ETF (ISHIUSB) BlackRock Core Bond Trust - High Yield (BHK-HYLD) BlackRock Multi-Sector Income Trust - High Yield (BIT-HYLD) BlackRock Limited Duration Income Trust - High Yield (BLW-HYLD) BlackRock Funds II, High Yield Bond Portfolio (BR-HIYLD) BlackRock Credit Strategies Income - High Yield (BR-MSBHY) BlackRock High Yield Portfolio of BlackRock Series Fund, Inc (BVA-HI) BlackRock High Yield V.I. Fund (BVA-HY) BlackRock Corporate High Yield Fund, Inc. (HYT) MIST BlackRock High Yield Portfolio (MIST-HY) AST BlackRock Global Strategies Portfolio (US High Yield) (PRU-AA-HY) THE OFFERING KEY CHARACTERISTICS (COMPLETE ALL FIELDS) Date of Offering Commencement: 02-02-2017 Security Type: BND/CORP Issuer American Greetings Corporation (2025) Selling Underwriter Merrill Lynch, Pierce, Fenner & Smith Incorporated Affiliated Underwriter(s) [X] PNC Capital Markets LLC [_] Other: List of Underwriter(s) Merrill Lynch, Pierce, Fenner & Smith Incorporated, KeyBanc Capital Markets, PNC Capital Markets LLC, Citizens Capital Markets, Wells Fargo Securities, LLC, J.P. Morgan Securities LLC, BBVA Securities Inc, ScotiaBank TRANSACTION DETAILS Date of Purchase 02-02-2017 Purchase Price/Share (PER SHARE / % OF PAR) $99.272 Total Commission, Spread or Profit 1.500% 1. Aggregate Principal Amount Purchased (a+b) $15,000,000 a. US Registered Funds (Appendix attached with individual Fund/Client purchase) $ 6,407,000 b. Other BlackRock Clients $ 8,593,000
Page 1 of 2 Rule 10f-3 Report - Definitions [LOGO OF BLACKROCK] 2. Aggregate Principal Amount of Offering $400,000,000 FUND RATIO [Divide Sum of #1 by #2] Must be less than 0.25 0.0375
Rule 10f-3 Report - Definitions [LOGO OF BLACKROCK] LEGAL REQUIREMENTS OFFERING TYPE (CHECK ONE) The securities fall into one of the following transaction types (see Definitions): [_] U.S. Registered Public Offering... [Issuer must have 3 years of continuous operations] [X] Eligible Rule 144A Offering....... [Issuer must have 3 years of continuous operations] [_] Eligible Municipal Securities [_] Eligible Foreign Offering......... [Issuer must have 3 years of continuous operations] [_] Government Securities Offering.... [Issuer must have 3 years of continuous operations] TIMING AND PRICE (CHECK ONE OR BOTH) [X] The securities were purchased before the end of the first day on which any sales were made, at a price that was not more than the price paid by each other purchaser of securities in that offering or in any concurrent offering of the securities; and [_] If the securities are offered for subscription upon exercise of rights, the securities were purchased on or before the fourth day before the day on which the rights offering terminated. FIRM COMMITMENT OFFERING (CHECK ONE) [X] YES The securities were offered pursuant to an underwriting or similar [_] NO agreement under which the underwriters were committed to purchase all of the securities being offered, except those purchased by others pursuant to a rights offering, if the underwriters purchased any of the securities. NO BENEFIT TO AFFILIATED UNDERWRITER (CHECK ONE) [X] YES No affiliated underwriter was a direct or indirect participant in, or [_] NO benefited directly or indirectly from, the transaction. Completed by: Dipankar Banerjee Date: 02-07-2017 -------------------------------- ------------ Global Syndicate Team Member Approved by: Steven DeLaura Date: 02-07-2017 -------------------------------- ------------ Global Syndicate Team Member Rule 10f-3 Report - Definitions [LOGO OF BLACKROCK] DEFINITIONS TERM DEFINITION Fund Ratio Number appearing at the bottom of page 1 of 2 of the Rule 10f-3 Report form. It is the sum of the Funds' participation in the offering by the Funds and other accounts managed by BlackRock divided by the total amount of the offering. Eligible Foreign Offering The securities are sold in a public offering conducted under the laws of a country other than the United States and (a) the offering is subject to regulation in such country by a "foreign financial regulatory authority," as defined in Section 2(a)(50) of the Investment Company Act of 1940; (b) the securities were offered at a fixed price to all purchasers in the offering (except for any rights to purchase securities that are required by law to be granted to existing security holders of the issuer); (c) financial statements, prepared and audited as required or permitted by the appropriate foreign financial regulatory authority in such country, for the two years prior to the offering, were made available to the public and prospective purchasers in connection with the offering; and (d) if the issuer is a "domestic issuer," i.e., other than a foreign government, a national of any foreign country, or a corporation or other organization incorporated or organized under the laws of any foreign country, it (1) has a class of securities registered pursuant to section 12(b) or 12(g) of the Securities Exchange Act of 1934 or is required to file reports pursuant to section 15(d) of that act, and (2) has filed all the material required to be filed pursuant to section 13(a) or 15(d) of that act for a period of at least 12 months immediately preceding the sale of securities (or for such shorter period that the issuer was required to file such material) Rule 10f-3 Report - Definitions [LOGO OF BLACKROCK] TERM DEFINITION Eligible Municipal Securities The securities: (a) are direct obligations of, or obligations guaranteed as to principal or interest by, a State or any political subdivision thereof, or any agency or instrumentality of a State or any political subdivision thereof, or any municipal corporate instrumentality of one or more States, or any security which is an industrial development bond (as defined in section 103(c)(2) of Title 26) the interest on which is excludable from gross income under certain provisions of the Internal Revenue Code; (b) are sufficiently liquid that they can be sold at or near their carrying value within a reasonably short period of time; and (c) either (1) are subject to no greater than moderate credit risk; or (2) if the issuer of the municipal securities, or the entity supplying the revenues or other payments from which the issue is to be paid, has been in continuous operation for less than three years, including the operation of any predecessors, the securities are subject to a minimal or low amount of credit risk. Also, purchases of municipal securities may not be designated as group sales or otherwise allocated to the account of any prohibited seller (i.e., an affiliated underwriter). Eligible Rule 144A Offering The securities are sold in an offering where (a) the securities are offered or sold in transactions exempt from registration under Section 4(2) of the Securities Act of 1933, Rule 144A thereunder, or Rules 501-508 thereunder; (b) the securities were sold to persons that the seller and any person acting on behalf of the seller reasonably believe to include qualified institutional buyers, as defined in Rule 144A ("QIBs"); and (c) the seller and any person acting on behalf of the seller reasonably believe that the securities are eligible for resale to other QIBs pursuant to Rule 144A. Government Securities Offering The security is issued or guaranteed as to principal or interest by the United States, or by a person controlled or supervised by and acting as an instrumentality of the Government of the United States pursuant to authority granted by the Congress of the United States; or any certificate of deposit for any of the foregoing. Rule 10f-3 Report - Definitions [LOGO OF BLACKROCK] TERM DEFINITION U.S. Registered Public The securities offered are registered under the Offering. Securities Act of 1933 that are being offered to the public. EX-99.77O RULE 10F-3 15 77O29.txt [LOGO OF BLACKROCK] Rule 10f-3 Transaction Form Acquisition of Securities During Affiliated Underwritings PARTICIPATING FUNDS .. U.S. Registered Funds (Name of Fund, Aladdin Ticker): ISHARES CORE TOTAL USD BOND MARKET ETF (ISHIUSB) BlackRock Alternative Strategies Fund - Trading Account (ACS-TRD) BlackRock Core Bond Trust - High Yield (BHK-HYLD) BlackRock Multi-Sector Income Trust - High Yield (BIT-HYLD) BlackRock Limited Duration Income Trust - High Yield (BLW-HYLD) BlackRock Funds II, High Yield Bond Portfolio (BR-HIYLD) BlackRock Credit Strategies Income - High Yield (BR-MSBHY) BlackRock High Yield Portfolio of BlackRock Series Fund, Inc (BVA-HI) BlackRock High Yield V.I. Fund (BVA-HY) BlackRock Corporate High Yield Fund, Inc. (HYT) MIST BlackRock High Yield Portfolio (MIST-HY) AST BlackRock Global Strategies Portfolio (US High Yield) (PRU-AA-HY) THE OFFERING KEY CHARACTERISTICS (COMPLETE ALL FIELDS) Date of Offering Commencement: 02-09-2017 Security Type: BND/CORP Issuer Hill-Rom Holdings, Inc. (2025) Selling Underwriter J.P. Morgan Securities LLC Affiliated Underwriter(s) [X] PNC Capital Markets LLC [_] Other: List of Underwriter(s) J.P. Morgan Securities LLC, Merrill Lynch, Pierce, Fenner & Smith Incorporated, Citizens Capital Markets, Inc, Goldman Sachs & Co, MUFG Securities Americas Inc, PNC Capital Markets LLC, Fifth Third Securities, Inc., Scotia Capital (USA) Inc, SMBC Nikko Securities America, Inc, Wells Fargo Securities, LLC TRANSACTION DETAILS Date of Purchase 02-09-2017 Purchase Price/Share (PER SHARE / % OF PAR) $100 Total Commission, Spread or Profit 1.250% 1. Aggregate Principal Amount Purchased (a+b) $12,000,000 a. US Registered Funds (Appendix attached with individual Fund/Client purchase) $ 4,956,000
Page 1 of 2 Rule 10f-3 Report - Definitions [LOGO OF BLACKROCK] b. Other BlackRock Clients $ 7,044,000 2. Aggregate Principal Amount of Offering $300,000,000 FUND RATIO [Divide Sum of #1 by #2] Must be less than 0.25 0.04
Rule 10f-3 Report - Definitions [LOGO OF BLACKROCK] LEGAL REQUIREMENTS OFFERING TYPE (CHECK ONE) The securities fall into one of the following transaction types (see Definitions): [_] U.S. Registered Public Offering... [Issuer must have 3 years of continuous operations] [X] Eligible Rule 144A Offering....... [Issuer must have 3 years of continuous operations] [_] Eligible Municipal Securities [_] Eligible Foreign Offering......... [Issuer must have 3 years of continuous operations] [_] Government Securities Offering.... [Issuer must have 3 years of continuous operations] TIMING AND PRICE (CHECK ONE OR BOTH) [X] The securities were purchased before the end of the first day on which any sales were made, at a price that was not more than the price paid by each other purchaser of securities in that offering or in any concurrent offering of the securities; and [_] If the securities are offered for subscription upon exercise of rights, the securities were purchased on or before the fourth day before the day on which the rights offering terminated. FIRM COMMITMENT OFFERING (CHECK ONE) [X] YES The securities were offered pursuant to an underwriting or similar [_] NO agreement under which the underwriters were committed to purchase all of the securities being offered, except those purchased by others pursuant to a rights offering, if the underwriters purchased any of the securities. NO BENEFIT TO AFFILIATED UNDERWRITER (CHECK ONE) [X] YES No affiliated underwriter was a direct or indirect participant in, or [_] NO benefited directly or indirectly from, the transaction. Completed by: Dipankar Banerjee Date: 02-14-2017 -------------------------------- ----------- Global Syndicate Team Member Approved by: Steven DeLaura Date: 02-14-2017 -------------------------------- ----------- Global Syndicate Team Member Rule 10f-3 Report - Definitions [LOGO OF BLACKROCK] DEFINITIONS TERM DEFINITION Fund Ratio Number appearing at the bottom of page 1 of 2 of the Rule 10f-3 Report form. It is the sum of the Funds' participation in the offering by the Funds and other accounts managed by BlackRock divided by the total amount of the offering. Eligible Foreign Offering The securities are sold in a public offering conducted under the laws of a country other than the United States and (a) the offering is subject to regulation in such country by a "foreign financial regulatory authority," as defined in Section 2(a)(50) of the Investment Company Act of 1940; (b) the securities were offered at a fixed price to all purchasers in the offering (except for any rights to purchase securities that are required by law to be granted to existing security holders of the issuer); (c) financial statements, prepared and audited as required or permitted by the appropriate foreign financial regulatory authority in such country, for the two years prior to the offering, were made available to the public and prospective purchasers in connection with the offering; and (d) if the issuer is a "domestic issuer," i.e., other than a foreign government, a national of any foreign country, or a corporation or other organization incorporated or organized under the laws of any foreign country, it (1) has a class of securities registered pursuant to section 12(b) or 12(g) of the Securities Exchange Act of 1934 or is required to file reports pursuant to section 15(d) of that act, and (2) has filed all the material required to be filed pursuant to section 13(a) or 15(d) of that act for a period of at least 12 months immediately preceding the sale of securities (or for such shorter period that the issuer was required to file such material) Rule 10f-3 Report - Definitions [LOGO OF BLACKROCK] TERM DEFINITION Eligible Municipal Securities The securities: (a) are direct obligations of, or obligations guaranteed as to principal or interest by, a State or any political subdivision thereof, or any agency or instrumentality of a State or any political subdivision thereof, or any municipal corporate instrumentality of one or more States, or any security which is an industrial development bond (as defined in section 103(c)(2) of Title 26) the interest on which is excludable from gross income under certain provisions of the Internal Revenue Code; (b) are sufficiently liquid that they can be sold at or near their carrying value within a reasonably short period of time; and (c) either (1) are subject to no greater than moderate credit risk; or (2) if the issuer of the municipal securities, or the entity supplying the revenues or other payments from which the issue is to be paid, has been in continuous operation for less than three years, including the operation of any predecessors, the securities are subject to a minimal or low amount of credit risk. Also, purchases of municipal securities may not be designated as group sales or otherwise allocated to the account of any prohibited seller (i.e., an affiliated underwriter). Eligible Rule 144A Offering The securities are sold in an offering where (a) the securities are offered or sold in transactions exempt from registration under Section 4(2) of the Securities Act of 1933, Rule 144A thereunder, or Rules 501-508 thereunder; (b) the securities were sold to persons that the seller and any person acting on behalf of the seller reasonably believe to include qualified institutional buyers, as defined in Rule 144A ("QIBs"); and (c) the seller and any person acting on behalf of the seller reasonably believe that the securities are eligible for resale to other QIBs pursuant to Rule 144A. Government Securities Offering The security is issued or guaranteed as to principal or interest by the United States, or by a person controlled or supervised by and acting as an instrumentality of the Government of the United States pursuant to authority granted by the Congress of the United States; or any certificate of deposit for any of the foregoing. Rule 10f-3 Report - Definitions [LOGO OF BLACKROCK] TERM DEFINITION U.S. Registered Public The securities offered are registered under the Offering. Securities Act of 1933 that are being offered to the public. EX-99.77O RULE 10F-3 16 77O30.txt [LOGO OF BLACKROCK] Rule 10f-3 Transaction Form Acquisition of Securities During Affiliated Underwritings PARTICIPATING FUNDS .. U.S. Registered Funds (Name of Fund, Aladdin Ticker): ISHARES GLOBAL HIGH YIELD CORPORATE BOND ETF (ISHGHYG) ISHARES IBOXX $ HIGH YIELD CORPORATE BOND ETF (ISHHYLD) ISHARES CORE TOTAL USD BOND MARKET ETF (ISHIUSB) BlackRock Core Bond Trust - High Yield (BHK-HYLD) BlackRock Multi-Sector Income Trust - High Yield (BIT-HYLD) BlackRock Limited Duration Income Trust - High Yield (BLW-HYLD) BlackRock Funds II, High Yield Bond Portfolio (BR-HIYLD) BlackRock Multi-Asset Income - High Yield Portfolio (BR-INC-HY) BlackRock Multi-Asset Income - Passive High Yield Portfolio (BR-INC-PHY) BlackRock Credit Strategies Income - High Yield (BR-MSBHY) BlackRock High Yield Portfolio of BlackRock Series Fund, Inc (BVA-HI) BlackRock High Yield V.I. Fund (BVA-HY) BlackRock Debt Strategies Fund, Inc. (DSU) BlackRock Corporate High Yield Fund, Inc. (HYT) MIST BlackRock High Yield Portfolio (MIST-HY) AST BlackRock Global Strategies Portfolio (US High Yield) (PRU-AA-HY) THE OFFERING KEY CHARACTERISTICS (COMPLETE ALL FIELDS) Date of Offering Commencement: 02-10-2017 Security Type: BND/CORP Issuer Cliffs Natural Resources Inc. (2025) Selling Underwriter Merrill Lynch, Pierce, Fenner & Smith Incorporated Affiliated Underwriter(s) [X] PNC Capital Markets LLC [_] Other: List of Underwriter(s) Merrill Lynch, Pierce, Fenner & Smith Incorporated, Credit Suisse Securities (USA) LLC, Deutsche Bank Securities Inc., Goldman, Sachs & Co, Credit Agricole Securities (USA) Inc., PNC Capital Markets LLC, Citizens Capital Markets, Inc , Regions Securities LLC, The Huntington Investment Company TRANSACTION DETAILS Date of Purchase 02-10-2017 Purchase Price/Share (PER SHARE / % OF PAR) $100 Total Commission, Spread or Profit 1.50% Page 1 of 2 Rule 10f-3 Report - Definitions [LOGO OF BLACKROCK] 1. Aggregate Principal Amount Purchased (a+b) $ 35,000,000 a. US Registered Funds (Appendix attached with individual Fund/Client purchase) $ 17,558,000 b. Other BlackRock Clients $ 17,442,000 2. Aggregate Principal Amount of Offering $500,000,000 FUND RATIO [Divide Sum of #1 by #2] Must be less than 0.25 0.0700
Rule 10f-3 Report - Definitions [LOGO OF BLACKROCK] LEGAL REQUIREMENTS OFFERING TYPE (CHECK ONE) The securities fall into one of the following transaction types (see Definitions): [_] U.S. Registered Public Offering... [Issuer must have 3 years of continuous operations] [X] Eligible Rule 144A Offering....... [Issuer must have 3 years of continuous operations] [_] Eligible Municipal Securities [_] Eligible Foreign Offering......... [Issuer must have 3 years of continuous operations] [_] Government Securities Offering.... [Issuer must have 3 years of continuous operations] TIMING AND PRICE (CHECK ONE OR BOTH) [X] The securities were purchased before the end of the first day on which any sales were made, at a price that was not more than the price paid by each other purchaser of securities in that offering or in any concurrent offering of the securities; and [_] If the securities are offered for subscription upon exercise of rights, the securities were purchased on or before the fourth day before the day on which the rights offering terminated. FIRM COMMITMENT OFFERING (CHECK ONE) [X] YES The securities were offered pursuant to an underwriting or similar [_] NO agreement under which the underwriters were committed to purchase all of the securities being offered, except those purchased by others pursuant to a rights offering, if the underwriters purchased any of the securities. NO BENEFIT TO AFFILIATED UNDERWRITER (CHECK ONE) [X] YES No affiliated underwriter was a direct or indirect participant in, or [_] NO benefited directly or indirectly from, the transaction. Completed by: Dipankar Banerjee Date: 02-23-2017 -------------------------------- ------------ Global Syndicate Team Member Approved by: Steven DeLaura Date: 02-23-2017 -------------------------------- ------------ Global Syndicate Team Member Rule 10f-3 Report - Definitions [LOGO OF BLACKROCK] DEFINITIONS TERM DEFINITION Fund Ratio Number appearing at the bottom of page 1 of 2 of the Rule 10f-3 Report form. It is the sum of the Funds' participation in the offering by the Funds and other accounts managed by BlackRock divided by the total amount of the offering. Eligible Foreign Offering The securities are sold in a public offering conducted under the laws of a country other than the United States and (a) the offering is subject to regulation in such country by a "foreign financial regulatory authority," as defined in Section 2(a)(50) of the Investment Company Act of 1940; (b) the securities were offered at a fixed price to all purchasers in the offering (except for any rights to purchase securities that are required by law to be granted to existing security holders of the issuer); (c) financial statements, prepared and audited as required or permitted by the appropriate foreign financial regulatory authority in such country, for the two years prior to the offering, were made available to the public and prospective purchasers in connection with the offering; and (d) if the issuer is a "domestic issuer," i.e., other than a foreign government, a national of any foreign country, or a corporation or other organization incorporated or organized under the laws of any foreign country, it (1) has a class of securities registered pursuant to section 12(b) or 12(g) of the Securities Exchange Act of 1934 or is required to file reports pursuant to section 15(d) of that act, and (2) has filed all the material required to be filed pursuant to section 13(a) or 15(d) of that act for a period of at least 12 months immediately preceding the sale of securities (or for such shorter period that the issuer was required to file such material) Rule 10f-3 Report - Definitions [LOGO OF BLACKROCK] TERM DEFINITION Eligible Municipal Securities The securities: (a) are direct obligations of, or obligations guaranteed as to principal or interest by, a State or any political subdivision thereof, or any agency or instrumentality of a State or any political subdivision thereof, or any municipal corporate instrumentality of one or more States, or any security which is an industrial development bond (as defined in section 103(c)(2) of Title 26) the interest on which is excludable from gross income under certain provisions of the Internal Revenue Code; (b) are sufficiently liquid that they can be sold at or near their carrying value within a reasonably short period of time; and (c) either (1) are subject to no greater than moderate credit risk; or (2) if the issuer of the municipal securities, or the entity supplying the revenues or other payments from which the issue is to be paid, has been in continuous operation for less than three years, including the operation of any predecessors, the securities are subject to a minimal or low amount of credit risk. Also, purchases of municipal securities may not be designated as group sales or otherwise allocated to the account of any prohibited seller (i.e., an affiliated underwriter). Eligible Rule 144A Offering The securities are sold in an offering where (a) the securities are offered or sold in transactions exempt from registration under Section 4(2) of the Securities Act of 1933, Rule 144A thereunder, or Rules 501-508 thereunder; (b) the securities were sold to persons that the seller and any person acting on behalf of the seller reasonably believe to include qualified institutional buyers, as defined in Rule 144A ("QIBs"); and (c) the seller and any person acting on behalf of the seller reasonably believe that the securities are eligible for resale to other QIBs pursuant to Rule 144A. Government Securities Offering The security is issued or guaranteed as to principal or interest by the United States, or by a person controlled or supervised by and acting as an instrumentality of the Government of the United States pursuant to authority granted by the Congress of the United States; or any certificate of deposit for any of the foregoing. Rule 10f-3 Report - Definitions [LOGO OF BLACKROCK] TERM DEFINITION U.S. Registered Public The securities offered are registered under the Offering. Securities Act of 1933 that are being offered to the public. EX-99.77O RULE 10F-3 17 77O32.txt [LOGO OF BLACKROCK] Rule 10f-3 Transaction Form Acquisition of Securities During Affiliated Underwritings PARTICIPATING FUNDS .. U.S. Registered Funds (Name of Fund, Aladdin Ticker): BlackRock Core Bond Trust - High Yield (BHK-HYLD) BlackRock Multi-Sector Income Trust - High Yield (BIT-HYLD) BlackRock Limited Duration Income Trust - High Yield (BLW-HYLD) BlackRock Funds II, High Yield Bond Portfolio (BR-HIYLD) BlackRock Multi-Asset Income- European High Yield Portfolio (BR-INC-EHY) BlackRock Credit Strategies Income - European High Yield (BR-MSBEUHY) Strategic Income Opportunities Fund (BR-SIP) BlackRock Debt Strategies Fund, Inc. (DSU) BlackRock Corporate High Yield Fund, Inc. (HYT) Metropolitan Series Fund, Inc.- BlackRock Bond Income Portfolio (MET-BI) Master Total Return Portfolio of Master Bond LLC (MF-BOND) MIST BlackRock High Yield Portfolio (MIST-HY) AST BlackRock Global Strategies Portfolio (US High Yield) (PRU-AA-HY) Advanced Series Trust - AST BlackRock/Loomis Sayles Bond Portfolio (SMF_PRUTR) THE OFFERING KEY CHARACTERISTICS (COMPLETE ALL FIELDS) Date of 02-23-2017 Offering Commencement: Security Type: BND/CORP Issuer Quintiles IMS Incorporated (2025) Selling Underwriter J.P. Morgan Securities, plc Affiliated Underwriter(s) [X] PNC Capital Markets LLC [_] Other: List of Underwriter(s) J.P. Morgan Securities, plc, Barclays Bank PLC, Merrill Lynch International, Goldman, Sachs & Co., HSBC Securities (USA) Inc., Wells Fargo Securities International Limited, Citigroup, Global Markets Limited, PNC Capital Markets LLC, Fifth Third Securities, Inc., MUFG Securities EMEA plc, Mizuho International plc, SunTrust Robinson Humphrey, Inc., TD Securities (USA) LLC, BNP Paribas, BBVA, Securities Inc., The Huntington Investment Company and The Williams Capital Group,L.P TRANSACTION DETAILS Date of Purchase 02-23-2017 Purchase Price/Share (PER SHARE / % OF PAR) $100 Total Commission, Spread or Profit 1.00% Page 1 of 2 Rule 10f-3 Report - Definitions [LOGO OF BLACKROCK] 1. Aggregate Principal Amount Purchased (a+b) $ 6,350,000 a. US Registered Funds (Appendix attached with individual Fund/Client purchase) $ 6,150,000 b. Other BlackRock Clients $ 200,000 2. Aggregate Principal Amount of Offering $1,425,000,000 FUND RATIO [Divide Sum of #1 by #2] Must be less than 0.25 0.00445
Rule 10f-3 Report - Definitions [LOGO OF BLACKROCK] LEGAL REQUIREMENTS OFFERING TYPE (CHECK ONE) The securities fall into one of the following transaction types (see Definitions): [_] U.S. Registered Public Offering... [Issuer must have 3 years of continuous operations] [X] Eligible Rule 144A Offering....... [Issuer must have 3 years of continuous operations] [_] Eligible Municipal Securities [_] Eligible Foreign Offering......... [Issuer must have 3 years of continuous operations] [_] Government Securities Offering.... [Issuer must have 3 years of continuous operations] TIMING AND PRICE (CHECK ONE OR BOTH) [X] The securities were purchased before the end of the first day on which any sales were made, at a price that was not more than the price paid by each other purchaser of securities in that offering or in any concurrent offering of the securities; and [_] If the securities are offered for subscription upon exercise of rights, the securities were purchased on or before the fourth day before the day on which the rights offering terminated. FIRM COMMITMENT OFFERING (CHECK ONE) [X] YES The securities were offered pursuant to an underwriting or similar [_] NO agreement under which the underwriters were committed to purchase all of the securities being offered, except those purchased by others pursuant to a rights offering, if the underwriters purchased any of the securities. NO BENEFIT TO AFFILIATED UNDERWRITER (CHECK ONE) [X] YES No affiliated underwriter was a direct or indirect participant in, or [_] NO benefited directly or indirectly from, the transaction. Completed by: Dipankar Banerjee Date: 02-27-2017 -------------------------------- ------------ Global Syndicate Team Member Approved by: Steven DeLaura Date: 02-27-2017 -------------------------------- ------------ Global Syndicate Team Member Rule 10f-3 Report - Definitions [LOGO OF BLACKROCK] DEFINITIONS TERM DEFINITION Fund Ratio Number appearing at the bottom of page 1 of 2 of the Rule 10f-3 Report form. It is the sum of the Funds' participation in the offering by the Funds and other accounts managed by BlackRock divided by the total amount of the offering. Eligible Foreign Offering The securities are sold in a public offering conducted under the laws of a country other than the United States and (a) the offering is subject to regulation in such country by a "foreign financial regulatory authority," as defined in Section 2(a)(50) of the Investment Company Act of 1940; (b) the securities were offered at a fixed price to all purchasers in the offering (except for any rights to purchase securities that are required by law to be granted to existing security holders of the issuer); (c) financial statements, prepared and audited as required or permitted by the appropriate foreign financial regulatory authority in such country, for the two years prior to the offering, were made available to the public and prospective purchasers in connection with the offering; and (d) if the issuer is a "domestic issuer," i.e., other than a foreign government, a national of any foreign country, or a corporation or other organization incorporated or organized under the laws of any foreign country, it (1) has a class of securities registered pursuant to section 12(b) or 12(g) of the Securities Exchange Act of 1934 or is required to file reports pursuant to section 15(d) of that act, and (2) has filed all the material required to be filed pursuant to section 13(a) or 15(d) of that act for a period of at least 12 months immediately preceding the sale of securities (or for such shorter period that the issuer was required to file such material) Rule 10f-3 Report - Definitions [LOGO OF BLACKROCK] TERM DEFINITION Eligible Municipal Securities The securities: (a) are direct obligations of, or obligations guaranteed as to principal or interest by, a State or any political subdivision thereof, or any agency or instrumentality of a State or any political subdivision thereof, or any municipal corporate instrumentality of one or more States, or any security which is an industrial development bond (as defined in section 103(c)(2) of Title 26) the interest on which is excludable from gross income under certain provisions of the Internal Revenue Code; (b) are sufficiently liquid that they can be sold at or near their carrying value within a reasonably short period of time; and (c) either (1) are subject to no greater than moderate credit risk; or (2) if the issuer of the municipal securities, or the entity supplying the revenues or other payments from which the issue is to be paid, has been in continuous operation for less than three years, including the operation of any predecessors, the securities are subject to a minimal or low amount of credit risk. Also, purchases of municipal securities may not be designated as group sales or otherwise allocated to the account of any prohibited seller (i.e., an affiliated underwriter). Eligible Rule 144A Offering The securities are sold in an offering where (a) the securities are offered or sold in transactions exempt from registration under Section 4(2) of the Securities Act of 1933, Rule 144A thereunder, or Rules 501-508 thereunder; (b) the securities were sold to persons that the seller and any person acting on behalf of the seller reasonably believe to include qualified institutional buyers, as defined in Rule 144A ("QIBs"); and (c) the seller and any person acting on behalf of the seller reasonably believe that the securities are eligible for resale to other QIBs pursuant to Rule 144A. Government Securities Offering The security is issued or guaranteed as to principal or interest by the United States, or by a person controlled or supervised by and acting as an instrumentality of the Government of the United States pursuant to authority granted by the Congress of the United States; or any certificate of deposit for any of the foregoing. Rule 10f-3 Report - Definitions [LOGO OF BLACKROCK] TERM DEFINITION U.S. Registered Public The securities offered are registered under the Offering. Securities Act of 1933 that are being offered to the public. EX-99.77O RULE 10F-3 18 77O36.txt [LOGO OF BLACKROCK] Rule 10f-3 Transaction Form Acquisition of Securities During Affiliated Underwritings PARTICIPATING FUNDS .. U.S. Registered Funds (Name of Fund, Aladdin Ticker): ISHARES CORE U.S. AGGREGATE BOND ETF (ISHAGG) ISHARES 1-3 YEAR CREDIT BOND ETF (ISHCRED1-3) ISHARES EDGE U.S. FIXED INCOME BALANCED RISK ETF (ISHFIBR) ISHARES INTERMEDIATE CREDIT BOND ETF (ISHICRED) ISHARES INTERMEDIATE GOVERNMENT/CREDIT BOND ETF (ISHIGOVCR) ISHARES CORE 1-5 YEAR USD BOND ETF (ISHISTB) BlackRock Alternative Strategies Fund - Trading Account (ACS-TRD) BlackRock Allocation Target Shares: Series S Portfolio (BATSS) BlackRock Core Bond Trust (BHK) BlackRock Multi-Sector Income Trust (BIT) BlackRock Limited Duration Income Trust (BLW) BlackRock Multi-Asset Income - Investment Grade Portfolio (BR-INC-IG) BlackRock Low Duration Bond Portfolio (BR-LO) Strategic Income Opportunities Fund (BR-SIP) GuideStone Funds Low Duration Bond Fund (GUIDE) Advanced Series Trust - AST BlackRock Low Duration Bond Portfolio (SMF_PRULO) THE OFFERING KEY CHARACTERISTICS (COMPLETE ALL FIELDS) Date of 03-15-2017 Offering Commencement: Security Type: BND/CORP Issuer CA, Inc. (2022) Selling Underwriter J.P. Morgan Securities LLC Affiliated Underwriter(s) [X] PNC Capital Markets LLC [_] Other: List of Underwriter(s) J.P. Morgan Securities LLC, Merrill Lynch, Pierce, Fenner & Smith Incorporated, Morgan Stanley & Co. LLC, Barclays Capital Inc., Citigroup Global Markets Inc., BNP Paribas Securities Corp., Goldman, Sachs & Co., HSBC Securities (USA) Inc., PNC Capital Markets LLC, RBC Capital Markets, LLC, Scotia Capital (USA) Inc., U.S. Bancorp Investments, Inc., Wells Fargo Securities, LLC, DNB Markets, Inc., ING Financial Markets LLC, KeyBanc Capital Markets Inc., SMBC Nikko Securities America, Inc., Standard Chartered Bank, SunTrust Robinson Humphrey, Inc. TRANSACTION DETAILS Date of Purchase 03-15-2017 Page 1 of 2 Rule 10f-3 Report - Definitions [LOGO OF BLACKROCK] Purchase Price/Share (PER SHARE / % OF PAR) $99.910 Total Commission, Spread or Profit 0.600% 1. Aggregate Principal Amount Purchased (a+b) $ 30,000,000 a. US Registered Funds (Appendix attached with individual Fund/Client purchase) $ 13,289,000 b. Other BlackRock Clients $ 16,711,000 2. Aggregate Principal Amount of Offering $500,000,000 FUND RATIO [Divide Sum of #1 by #2] Must be less than 0.25 0.06
Rule 10f-3 Report - Definitions [LOGO OF BLACKROCK] LEGAL REQUIREMENTS OFFERING TYPE (CHECK ONE) The securities fall into one of the following transaction types (see Definitions): [X] U.S. Registered Public Offering... [Issuer must have 3 years of continuous operations] [_] Eligible Rule 144A Offering....... [Issuer must have 3 years of continuous operations] [_] Eligible Municipal Securities [_] Eligible Foreign Offering......... [Issuer must have 3 years of continuous operations] [_] Government Securities Offering.... [Issuer must have 3 years of continuous operations] TIMING AND PRICE (CHECK ONE OR BOTH) [X] The securities were purchased before the end of the first day on which any sales were made, at a price that was not more than the price paid by each other purchaser of securities in that offering or in any concurrent offering of the securities; and [_] If the securities are offered for subscription upon exercise of rights, the securities were purchased on or before the fourth day before the day on which the rights offering terminated. FIRM COMMITMENT OFFERING (CHECK ONE) [X] YES The securities were offered pursuant to an underwriting or similar [_] NO agreement under which the underwriters were committed to purchase all of the securities being offered, except those purchased by others pursuant to a rights offering, if the underwriters purchased any of the securities. NO BENEFIT TO AFFILIATED UNDERWRITER (CHECK ONE) [X] YES No affiliated underwriter was a direct or indirect participant in, or [_] NO benefited directly or indirectly from, the transaction. Completed by: Dipankar Banerjee Date: 03-20-2017 -------------------------------- ------------ Global Syndicate Team Member Approved by: Steven DeLaura Date: 03-20-2017 -------------------------------- ------------ Global Syndicate Team Member Rule 10f-3 Report - Definitions [LOGO OF BLACKROCK] DEFINITIONS TERM DEFINITION Fund Ratio Number appearing at the bottom of page 1 of 2 of the Rule 10f-3 Report form. It is the sum of the Funds' participation in the offering by the Funds and other accounts managed by BlackRock divided by the total amount of the offering. Eligible Foreign Offering The securities are sold in a public offering conducted under the laws of a country other than the United States and (a) the offering is subject to regulation in such country by a "foreign financial regulatory authority," as defined in Section 2(a)(50) of the Investment Company Act of 1940; (b) the securities were offered at a fixed price to all purchasers in the offering (except for any rights to purchase securities that are required by law to be granted to existing security holders of the issuer); (c) financial statements, prepared and audited as required or permitted by the appropriate foreign financial regulatory authority in such country, for the two years prior to the offering, were made available to the public and prospective purchasers in connection with the offering; and (d) if the issuer is a "domestic issuer," i.e., other than a foreign government, a national of any foreign country, or a corporation or other organization incorporated or organized under the laws of any foreign country, it (1) has a class of securities registered pursuant to section 12(b) or 12(g) of the Securities Exchange Act of 1934 or is required to file reports pursuant to section 15(d) of that act, and (2) has filed all the material required to be filed pursuant to section 13(a) or 15(d) of that act for a period of at least 12 months immediately preceding the sale of securities (or for such shorter period that the issuer was required to file such material) Rule 10f-3 Report - Definitions [LOGO OF BLACKROCK] TERM DEFINITION Eligible Municipal Securities The securities: (a) are direct obligations of, or obligations guaranteed as to principal or interest by, a State or any political subdivision thereof, or any agency or instrumentality of a State or any political subdivision thereof, or any municipal corporate instrumentality of one or more States, or any security which is an industrial development bond (as defined in section 103(c)(2) of Title 26) the interest on which is excludable from gross income under certain provisions of the Internal Revenue Code; (b) are sufficiently liquid that they can be sold at or near their carrying value within a reasonably short period of time; and (c) either (1) are subject to no greater than moderate credit risk; or (2) if the issuer of the municipal securities, or the entity supplying the revenues or other payments from which the issue is to be paid, has been in continuous operation for less than three years, including the operation of any predecessors, the securities are subject to a minimal or low amount of credit risk. Also, purchases of municipal securities may not be designated as group sales or otherwise allocated to the account of any prohibited seller (i.e., an affiliated underwriter). Eligible Rule 144A Offering The securities are sold in an offering where (a) the securities are offered or sold in transactions exempt from registration under Section 4(2) of the Securities Act of 1933, Rule 144A thereunder, or Rules 501-508 thereunder; (b) the securities were sold to persons that the seller and any person acting on behalf of the seller reasonably believe to include qualified institutional buyers, as defined in Rule 144A ("QIBs"); and (c) the seller and any person acting on behalf of the seller reasonably believe that the securities are eligible for resale to other QIBs pursuant to Rule 144A. Government Securities Offering The security is issued or guaranteed as to principal or interest by the United States, or by a person controlled or supervised by and acting as an instrumentality of the Government of the United States pursuant to authority granted by the Congress of the United States; or any certificate of deposit for any of the foregoing. Rule 10f-3 Report - Definitions [LOGO OF BLACKROCK] TERM DEFINITION U.S. Registered Public The securities offered are registered under the Offering. Securities Act of 1933 that are being offered to the public. EX-99.77O RULE 10F-3 19 77O42.txt [LOGO OF BLACKROCK] Rule 10f-3 Transaction Form Acquisition of Securities During Affiliated Underwritings PARTICIPATING FUNDS .. U.S. Registered Funds (Name of Fund, Aladdin Ticker): ISHARES CORE U.S. AGGREGATE BOND ETF (ISHAGG) ISHARES 10+ YEAR CREDIT BOND ETF (ISHLCRD) BlackRock Core Bond Trust (BHK) BlackRock Multi-Sector Income Trust(BIT) THE OFFERING KEY CHARACTERISTICS (COMPLETE ALL FIELDS) Date of Offering Commencement: 05-05-2017 Security Type: BND/CORP Issuer Raymond James Financial Inc. (2046) Selling Underwriter Merrill Lynch,Pierce,Fenner & Smith Incorporated Affiliated Underwriter(s) [X] PNC Capital Markets LLC List of Underwriter(s) Merrill Lynch,Pierce,Fenner & Smith Incorporated,J.P. Morgan Securities LLC,Raymond James & Associates,Inc.,Citigroup Global Markets Inc.,Regions Securities LLC,U.S. Bancorp Investments,Inc.,BB&T Capital Markets,BNY Mellon Capital Markets,LLC,PNC Capital Markets LLC. TRANSACTION DETAILS Date of Purchase 05-05-2017 Purchase Price/Share (PER SHARE / % OF PAR) $102.701 Total Commission, Spread or Profit 0.875% 1. Aggregate Principal Amount Purchased (a+b) $ 24,795,000 a. US Registered Funds (Appendix attached with individual Fund/Client purchase) $ 2,050,000 b. Other BlackRock Clients $ 22,745,000 2. Aggregate Principal Amount of Offering $500,000,000 FUND RATIO [Divide Sum of #1 by #2] Must be less than 0.25 0.04959
Page 1 of 2 Rule 10f-3 Report - Definitions [LOGO OF BLACKROCK] LEGAL REQUIREMENTS OFFERING TYPE (CHECK ONE) The securities fall into one of the following transaction types (see Definitions): [X] U.S. Registered Public Offering... [Issuer must have 3 years of continuous operations] [_] Eligible Rule 144A Offering....... [Issuer must have 3 years of continuous operations] [_] Eligible Municipal Securities [_] Eligible Foreign Offering......... [Issuer must have 3 years of continuous operations] [_] Government Securities Offering.... [Issuer must have 3 years of continuous operations] TIMING AND PRICE (CHECK ONE OR BOTH) [X] The securities were purchased before the end of the first day on which any sales were made, at a price that was not more than the price paid by each other purchaser of securities in that offering or in any concurrent offering of the securities; and [_] If the securities are offered for subscription upon exercise of rights, the securities were purchased on or before the fourth day before the day on which the rights offering terminated. FIRM COMMITMENT OFFERING (CHECK ONE) [X] YES The securities were offered pursuant to an underwriting or similar [_] NO agreement under which the underwriters were committed to purchase all of the securities being offered, except those purchased by others pursuant to a rights offering, if the underwriters purchased any of the securities. NO BENEFIT TO AFFILIATED UNDERWRITER (CHECK ONE) [X] YES No affiliated underwriter was a direct or indirect participant in, or [_] NO benefited directly or indirectly from, the transaction. Completed by: Arushi Bhasin Date: 05-10-2017 -------------------------------- ------------ Global Syndicate Team Member Approved by: Steven DeLaura Date: 05-10-2017 -------------------------------- ------------ Global Syndicate Team Member Rule 10f-3 Report - Definitions [LOGO OF BLACKROCK] DEFINITIONS TERM DEFINITION Fund Ratio Number appearing at the bottom of page 1 of 2 of the Rule 10f-3 Report form. It is the sum of the Funds' participation in the offering by the Funds and other accounts managed by BlackRock divided by the total amount of the offering. Eligible Foreign Offering The securities are sold in a public offering conducted under the laws of a country other than the United States and (a) the offering is subject to regulation in such country by a "foreign financial regulatory authority," as defined in Section 2(a)(50) of the Investment Company Act of 1940; (b) the securities were offered at a fixed price to all purchasers in the offering (except for any rights to purchase securities that are required by law to be granted to existing security holders of the issuer); (c) financial statements, prepared and audited as required or permitted by the appropriate foreign financial regulatory authority in such country, for the two years prior to the offering, were made available to the public and prospective purchasers in connection with the offering; and (d) if the issuer is a "domestic issuer," i.e., other than a foreign government, a national of any foreign country, or a corporation or other organization incorporated or organized under the laws of any foreign country, it (1) has a class of securities registered pursuant to section 12(b) or 12(g) of the Securities Exchange Act of 1934 or is required to file reports pursuant to section 15(d) of that act, and (2) has filed all the material required to be filed pursuant to section 13(a) or 15(d) of that act for a period of at least 12 months immediately preceding the sale of securities (or for such shorter period that the issuer was required to file such material) Rule 10f-3 Report - Definitions [LOGO OF BLACKROCK] TERM DEFINITION Eligible Municipal Securities The securities: (a) are direct obligations of, or obligations guaranteed as to principal or interest by, a State or any political subdivision thereof, or any agency or instrumentality of a State or any political subdivision thereof, or any municipal corporate instrumentality of one or more States, or any security which is an industrial development bond (as defined in section 103(c)(2) of Title 26) the interest on which is excludable from gross income under certain provisions of the Internal Revenue Code; (b) are sufficiently liquid that they can be sold at or near their carrying value within a reasonably short period of time; and (c) either (1) are subject to no greater than moderate credit risk; or (2) if the issuer of the municipal securities, or the entity supplying the revenues or other payments from which the issue is to be paid, has been in continuous operation for less than three years, including the operation of any predecessors, the securities are subject to a minimal or low amount of credit risk. Also, purchases of municipal securities may not be designated as group sales or otherwise allocated to the account of any prohibited seller (i.e., an affiliated underwriter). Eligible Rule 144A Offering The securities are sold in an offering where (a) the securities are offered or sold in transactions exempt from registration under Section 4(2) of the Securities Act of 1933, Rule 144A thereunder, or Rules 501-508 thereunder; (b) the securities were sold to persons that the seller and any person acting on behalf of the seller reasonably believe to include qualified institutional buyers, as defined in Rule 144A ("QIBs"); and (c) the seller and any person acting on behalf of the seller reasonably believe that the securities are eligible for resale to other QIBs pursuant to Rule 144A. Government Securities Offering The security is issued or guaranteed as to principal or interest by the United States, or by a person controlled or supervised by and acting as an instrumentality of the Government of the United States pursuant to authority granted by the Congress of the United States; or any certificate of deposit for any of the foregoing. Rule 10f-3 Report - Definitions [LOGO OF BLACKROCK] TERM DEFINITION U.S. Registered Public Offering. The securities offered are registered under the Securities Act of 1933 that are being offered to the public. EX-99.77O RULE 10F-3 20 77O21.txt [LOGO OF BLACKROCK] Rule 10f-3 Transaction Form Acquisition of Securities During Affiliated Underwritings PARTICIPATING FUNDS .. U.S. Registered Funds (Name of Fund, Aladdin Ticker): ISHARES GLOBAL HIGH YIELD CORPORATE BOND ETF (ISHGHYG) ISHARES IBOXX $ HIGH YIELD CORPORATE BOND ETF (ISHHYLD) ISHARES CORE TOTAL USD BOND MARKET ETF (ISHIUSB) BlackRock Floating Rate Income Trust (BGT2) BlackRock Core Bond Trust - High Yield (BHK-HYLD) BlackRock Defined Opportunity Credit Trust (BHL) BlackRock Multi-Sector Income Trust - High Yield (BIT-HYLD) BlackRock Limited Duration Income Trust - High Yield (BLW-HYLD) BlackRock Limited Duration Income Trust - Bank Loans (BLW-LOAN) BlackRock Floating Rate Income Portfolio (BR-FRI) BlackRock Funds, BlackRock Global Long/Short Credit Fund (BR-GC) BlackRock Funds II, High Yield Bond Portfolio (BR-HIYLD) BlackRock Multi-Asset Income - High Yield Portfolio (BR-INC-HY) BlackRock Multi-Asset Income - Passive High Yield Portfolio (BR-INC-PHY) BlackRock Credit Strategies Income - High Yield (BR-MSBHY) BlackRock Credit Allocation Income Trust (Preferred Sleeve) (BTZ-PREF) BlackRock High Yield Portfolio of BlackRock Series Fund, Inc (BVA-HI) BlackRock High Yield V.I. Fund (BVA-HY) BlackRock Debt Strategies Fund, Inc. (DSU) BlackRock Floating Rate Income Strategies Fund, Inc. (FRA) BlackRock Corporate High Yield Fund, Inc. (HYT) MIST BlackRock High Yield Portfolio (MIST-HY) AST BlackRock Global Strategies Portfolio (US High Yield) (PRU-AA-HY) JNL/BlackRock Global Long Short Credit Fund (SMF_CC-GC) THE OFFERING KEY CHARACTERISTICS (COMPLETE ALL FIELDS) Date of Offering Commencement: 12-15-2016 Security Type: BND/CORP Issuer Gulfport Energy Corporation (2025) Selling Underwriter Credit Suisse Securities (USA) LLC Affiliated Underwriter(s) [X] PNC Capital Markets LLC [_] Other: List of Underwriter(s) Credit Suisse Securities (USA) LLC, Scotia Capital (USA) Inc., Barclays Capital Inc, KeyBanc Capital Markets Inc., PNC Capital Markets LLC, Wells Fargo Securities, LLC, Merrill Lynch, Pierce, Fenner & Smith Incorporated, Morgan Stanley & Co. LLC, BBVA Securities Inc., U.S. Bancorp Investments, Inc., IBERIA Capital Partners L.L.C., Samuel A. Ramirez & Company, Inc., BOK Financial Securities, Inc. Page 1 of 2 Rule 10f-3 Report - Definitions [LOGO OF BLACKROCK] TRANSACTION DETAILS Date of Purchase 12-15-2016 Purchase Price/Share (PER SHARE / % OF PAR) $100 Total Commission, Spread or Profit 1.440% 1. Aggregate Principal Amount Purchased (a+b) $ 50,000,000 a. US Registered Funds (Appendix attached with individual Fund/Client purchase) $ 28,362,000 b. Other BlackRock Clients $ 21,638,000 2. Aggregate Principal Amount of Offering $600,000,000 FUND RATIO [Divide Sum of #1 by #2] Must be less than 0.25 0.08333
Rule 10f-3 Report - Definitions [LOGO OF BLACKROCK] LEGAL REQUIREMENTS OFFERING TYPE (CHECK ONE) The securities fall into one of the following transaction types (see Definitions): [_] U.S. Registered Public Offering... [Issuer must have 3 years of continuous operations] [X] Eligible Rule 144A Offering....... [Issuer must have 3 years of continuous operations] [_] Eligible Municipal Securities [_] Eligible Foreign Offering......... [Issuer must have 3 years of continuous operations] [_] Government Securities Offering.... [Issuer must have 3 years of continuous operations] TIMING AND PRICE (CHECK ONE OR BOTH) [X] The securities were purchased before the end of the first day on which any sales were made, at a price that was not more than the price paid by each other purchaser of securities in that offering or in any concurrent offering of the securities; and [_] If the securities are offered for subscription upon exercise of rights, the securities were purchased on or before the fourth day before the day on which the rights offering terminated. FIRM COMMITMENT OFFERING (CHECK ONE) [X] YES The securities were offered pursuant to an underwriting or similar [_] NO agreement under which the underwriters were committed to purchase all of the securities being offered, except those purchased by others pursuant to a rights offering, if the underwriters purchased any of the securities. NO BENEFIT TO AFFILIATED UNDERWRITER (CHECK ONE) [X] YES No affiliated underwriter was a direct or indirect participant in, or [_] NO benefited directly or indirectly from, the transaction. Completed by: Dipankar Banerjee Date: 12-21-2016 -------------------------------- ------------ Global Syndicate Team Member Approved by: Steven DeLaura Date: 12-21-2016 -------------------------------- ------------ Global Syndicate Team Member Rule 10f-3 Report - Definitions [LOGO OF BLACKROCK] DEFINITIONS TERM DEFINITION Fund Ratio Number appearing at the bottom of page 1 of 2 of the Rule 10f-3 Report form. It is the sum of the Funds' participation in the offering by the Funds and other accounts managed by BlackRock divided by the total amount of the offering. Eligible Foreign Offering The securities are sold in a public offering conducted under the laws of a country other than the United States and (a) the offering is subject to regulation in such country by a "foreign financial regulatory authority," as defined in Section 2(a)(50) of the Investment Company Act of 1940; (b) the securities were offered at a fixed price to all purchasers in the offering (except for any rights to purchase securities that are required by law to be granted to existing security holders of the issuer); (c) financial statements, prepared and audited as required or permitted by the appropriate foreign financial regulatory authority in such country, for the two years prior to the offering, were made available to the public and prospective purchasers in connection with the offering; and (d) if the issuer is a "domestic issuer," i.e., other than a foreign government, a national of any foreign country, or a corporation or other organization incorporated or organized under the laws of any foreign country, it (1) has a class of securities registered pursuant to section 12(b) or 12(g) of the Securities Exchange Act of 1934 or is required to file reports pursuant to section 15(d) of that act, and (2) has filed all the material required to be filed pursuant to section 13(a) or 15(d) of that act for a period of at least 12 months immediately preceding the sale of securities (or for such shorter period that the issuer was required to file such material) Rule 10f-3 Report - Definitions [LOGO OF BLACKROCK] TERM DEFINITION Eligible Municipal Securities The securities: (a) are direct obligations of, or obligations guaranteed as to principal or interest by, a State or any political subdivision thereof, or any agency or instrumentality of a State or any political subdivision thereof, or any municipal corporate instrumentality of one or more States, or any security which is an industrial development bond (as defined in section 103(c)(2) of Title 26) the interest on which is excludable from gross income under certain provisions of the Internal Revenue Code; (b) are sufficiently liquid that they can be sold at or near their carrying value within a reasonably short period of time; and (c) either (1) are subject to no greater than moderate credit risk; or (2) if the issuer of the municipal securities, or the entity supplying the revenues or other payments from which the issue is to be paid, has been in continuous operation for less than three years, including the operation of any predecessors, the securities are subject to a minimal or low amount of credit risk. Also, purchases of municipal securities may not be designated as group sales or otherwise allocated to the account of any prohibited seller (i.e., an affiliated underwriter). Eligible Rule 144A Offering The securities are sold in an offering where (a) the securities are offered or sold in transactions exempt from registration under Section 4(2) of the Securities Act of 1933, Rule 144A thereunder, or Rules 501-508 thereunder; (b) the securities were sold to persons that the seller and any person acting on behalf of the seller reasonably believe to include qualified institutional buyers, as defined in Rule 144A ("QIBs"); and (c) the seller and any person acting on behalf of the seller reasonably believe that the securities are eligible for resale to other QIBs pursuant to Rule 144A. Government Securities Offering The security is issued or guaranteed as to principal or interest by the United States, or by a person controlled or supervised by and acting as an instrumentality of the Government of the United States pursuant to authority granted by the Congress of the United States; or any certificate of deposit for any of the foregoing. Rule 10f-3 Report - Definitions [LOGO OF BLACKROCK] TERM DEFINITION U.S. Registered Public The securities offered are registered under the Offering. Securities Act of 1933 that are being offered to the public.