Form NSAR-B BLACKROCK CORE BOND TRUS For: Aug 31
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ANDREWS TITLE CFO
[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 GOVERNMENT/CREDIT BOND ETF (ISHGOVCR) ISHARES INTERMEDIATE CREDIT BOND ETF (ISHICRED) ISHARES INTERMEDIATE GOVERNMENT/CREDIT BOND ETF (ISHIGOVCR) ISHARES IBOXX $ INVESTMENT GRADE CORPORATE BOND ETF (ISHINTOP) ISHARES CORE TOTAL USD BOND MARKET ETF (ISHIUSB) EQ/Global Bond PLUS Portfolio (AXA-GB) Multimanager Core Bond Portfolio (AXA-VIP) AZL Enhanced Bond Index Fund (AZ-CORE) BlackRock Balanced Capital Portfolio (FI) (BCS_F) BlackRock Core Bond Trust (BHK) 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) Consulting Group Capital Markets Funds (CG-CGCM) Metropolitan Series Fund, Inc.- BlackRock Bond Income Portfolio (MET-BI) Master Total Return Portfolio of Master Bond LLC (MF-BOND) U.S. Total Bond Index Master Portfolio (MIP_AGG) CoreAlpha Bond Master Portfolio (MIP_CORA) NVIT Bond Index Fund (NW-GBI) AST BlackRock Global Strategies Portfolio (Core Active) (PRU-AA-CAB) 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 06-02-2016 Offering Commencement: ------------------------ ----------- Security Type: BND/CORP ------------------------------------- ------------------------------------------------------------------------------- Issuer Aetna Inc. (2026) --------------------------- -------------------------------------------------- Selling Underwriter UBS Securities LLC, CITIGROUP GLOBAL MARKETS INC. --------------------------- -------------------------------------------------- Affiliated Underwriter(s) [X] PNC Capital Markets LLC [X] Other: UBS Securities LLC for UBS-PACE, Mitsubishi UFJ Securities (USA), Inc, Morgan Stanley & Co. LLC for CG-CGCM --------------------------- -------------------------------------------------- List of Underwriter(s) Citigroup Global Markets Inc., UBS Securities LLC, Credit Suisse Securities (USA) LLC, Merrill Lynch, Pierce, Fenner & Smith Incorporated, Barclays ------------------------------------------------------------------------------- Page 1 of 2 Rule 10f-3 Report - Definitions [LOGO OF BLACKROCK] ------------------------------------------------------------------------------- Capital Inc., Mitsubishi UFJ Securities (USA), Inc., Mizuho Securities USA Inc., Morgan Stanley & Co. LLC, SunTrust Robinson Humphrey, Inc., U.S. Bancorp Investments, Inc., Wells Fargo Securities, LLC, PNC Capital Markets LLC, BNY Mellon Capital Markets, LLC, HSBC Securities (USA) Inc., Fifth Third Securities, Inc. ------------------------------------------------------------------------------- TRANSACTION DETAILS ------------------------------- Date of Purchase 06-02-2016 ------------------------------- ------------------------------------------------------------------------------- Purchase Price/Share (PER SHARE / % OF PAR) $99.626 Total Commission, Spread or Profit 0.650% ------------------------------------------------------------------------------- ------------------------------------------------------------------------------- 1. Aggregate Principal Amount Purchased (a+b) $ 200,000,000 --------------------------------------------------------------- -------------- a. US Registered Funds (Appendix attached with individual Fund/Client purchase) $ 49,988,000 --------------------------------------------------------------- -------------- b. Other BlackRock Clients $ 150,012,000 --------------------------------------------------------------- -------------- 2. Aggregate Principal Amount of Offering $2,800,000,000 --------------------------------------------------------------- -------------- FUND RATIO [Divide Sum of #1 by #2] Must be less than 0.25 0.07142 ------------------------------------------------------------------------------- LEGAL REQUIREMENTS OFFERING TYPE (CHECK ONE) The securities fall into one of the following transaction types (see Definitions): [X] U.S. Registered Public [Issuer must have 3 years of continuous Offering...................... 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 [Issuer must have 3 years of continuous Offering...................... 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. Rule 10f-3 Report - Definitions [LOGO OF BLACKROCK] NO BENEFIT TO AFFILIATED UNDERWRITER (CHECK ONE) [X] YES No affiliated underwriter was a direct or indirect participant in, [_] NO or benefited directly or indirectly from, the transaction. Completed by: Dipankar Banerjee Date: 06-07-2016 --------------------------------------------- Global Syndicate Team Member Approved by: Steven DeLaura Date: 06-07-2016 --------------------------------------------- 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.
[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 U.S. FIXED INCOME BALANCED RISK ETF (ISHINC) AZL Enhanced Bond Index Fund (AZ-CORE) BlackRock Core Bond Trust (BHK) BlackRock Multi-Sector Income Trust (BIT) BlackRock Limited Duration Income Trust (BLW) BlackRock Multi Asset Income - Passive Fixed Income Portfolio (BR-INC-PFI) U.S. Total Bond Index Master Portfolio (MIP_AGG) CoreAlpha Bond Master Portfolio (MIP_CORA) Nationwide Bond Index Fund (NW-BI) NVIT Bond Index Fund (NW-GBI) UBS PACE Intermediate Fixed Income Investments Portfolio (UBS-PACE) THE OFFERING KEY CHARACTERISTICS (COMPLETE ALL FIELDS) ------------------------------------- Date of 02-23-2016 Offering Commencement: ------------------------ ----------- Security Type: BND/CORP ------------------------------------- ------------------------------------------------------------------------------- Issuer Aon plc (2025) --------------------------- -------------------------------------------------- Selling Underwriter Morgan Stanley & Co. LLC --------------------------- -------------------------------------------------- Affiliated Underwriter(s) [X] PNC Capital Markets LLC [_] Other: --------------------------- -------------------------------------------------- List of Underwriter(s) Morgan Stanley & Co. LLC, Deutsche Bank Securities Inc., Merrill Lynch, Pierce, Fenner & Smith Incorporated, ANZ Securities, Inc., Aon Securities Inc., nabSecurities, LLC, PNC Capital Markets LLC, Scotia Capital (USA) Inc. ------------------------------------------------------------------------------- TRANSACTION DETAILS ------------------------------- Date of Purchase 02-23-2016 ------------------------------- ------------------------------------------------------------------------------- Purchase Price/Share (PER SHARE / % OF PAR) $99.972 Total Commission, Spread or Profit 0.550% ------------------------------------------------------------------------------- ------------------------------------------------------------------------------- 1. Aggregate Principal Amount Purchased (a+b) $85,000,000 ------------------------------------------------------------------ ----------- a. US Registered Funds (Appendix attached with individual Fund/Client purchase) $ 6,075,000 ------------------------------------------------------------------ ----------- b. Other BlackRock Clients $78,925,000 ------------------------------------------------------------------ ----------- Page 1 of 2 Rule 10f-3 Report - Definitions [LOGO OF BLACKROCK] ------------------------------------------------------------------------------- 2. Aggregate Principal Amount of Offering $750,000,000 ----------------------------------------------------------------- ------------ FUND RATIO [Divide Sum of #1 by #2] Must be less than 0.25 0.11333 ------------------------------------------------------------------------------- LEGAL REQUIREMENTS OFFERING TYPE (CHECK ONE) The securities fall into one of the following transaction types (see Definitions): [X] U.S. Registered Public [Issuer must have 3 years of continuous Offering...................... 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 [Issuer must have 3 years of continuous Offering...................... 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, [_] NO or benefited directly or indirectly from, the transaction. Completed by: Dipankar Banerjee Date: 02-25-2016 --------------------------------------------- Global Syndicate Team Member Approved by: Steven DeLaura Date: 02-25-2016 --------------------------------------------- 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.
[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) 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 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) THE OFFERING KEY CHARACTERISTICS (COMPLETE ALL FIELDS) ------------------------------------- Date of 05-16-2016 Offering Commencement: ------------------------ ----------- Security Type: BND/CORP ------------------------------------- ------------------------------------------------------------------------------- Issuer Aramark Services, Inc. (2024) --------------------------- -------------------------------------------------- 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, Barclays Capital Inc., Credit Suisse Securities (USA) LLC, J.P. Morgan Securities LLC, Goldman, Sachs & Co, Morgan Stanley & Co. LLC, SMBC Nikko Securities America, Inc, Rabo Securities USA, Inc., TD Securities (USA) LLC, PNC Capital Markets LLC, Santander Investment Securities Inc, Comerica Securities, Inc ------------------------------------------------------------------------------- TRANSACTION DETAILS ------------------------------- Date of Purchase 05-16-2016 ------------------------------- ------------------------------------------------------------------------------- Purchase Price/Share (PER SHARE / % OF PAR) $103.75 Total Commission, Spread or Profit 1.25% ------------------------------------------------------------------------------- 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) $ 14,861,000 ----------------------------------------------------------------- ------------ b. Other BlackRock Clients $ 20,139,000 ----------------------------------------------------------------- ------------ 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 [Issuer must have 3 years of continuous Offering...................... 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 [Issuer must have 3 years of continuous Offering...................... 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, [_] NO or benefited directly or indirectly from, the transaction. Completed by: Dipankar Banerjee Date: 05-20-2016 --------------------------------------------- Global Syndicate Team Member Approved by: Betsy Mathews, Steven DeLaura Date: 05-20-2016 --------------------------------------------- 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.
[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 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 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 08-02-2016 Offering Commencement: ------------------------ ----------- Security Type: BND/CORP ------------------------------------- ------------------------------------------------------------------------------- Issuer Axalta Coating Systems, LLC (2024) --------------------------- -------------------------------------------------- Selling Underwriter Barclays Capital Inc. --------------------------- -------------------------------------------------- Affiliated Underwriter(s) [X] PNC Capital Markets LLC [_] Other: --------------------------- -------------------------------------------------- List of Underwriter(s) Barclays Capital Inc., Deutsche Bank Securities Inc, Goldman, Sachs & Co., Merrill Lynch, Pierce, Fenner & Smith Incorporated, Citigroup Global Markets Inc, Credit Suisse Securities (USA) LLC, J.P. Morgan Securities LLC, PNC Capital Markets LLC, SunTrust Robinson Humphrey, Inc ------------------------------------------------------------------------------- TRANSACTION DETAILS ------------------------------- Date of Purchase 08-02-2016 ------------------------------- ------------------------------------------------------------------------------- Purchase Price/Share (PER SHARE / % OF PAR) $99.591 Total Commission, Spread or Profit 1.50% ------------------------------------------------------------------------------- ------------------------------------------------------------------------------- 1. Aggregate Principal Amount Purchased (a+b) $40,000,000 ------------------------------------------------------------------ ----------- a. US Registered Funds (Appendix attached with individual Fund/Client purchase) $22,612,000 ------------------------------------------------------------------------------- Page 1 of 2 Rule 10f-3 Report - Definitions [LOGO OF BLACKROCK] ------------------------------------------------------------------------------- b. Other BlackRock Clients $ 17,388,000 ----------------------------------------------------------------- ------------ 2. Aggregate Principal Amount of Offering $500,000,000 ----------------------------------------------------------------- ------------ FUND RATIO [Divide Sum of #1 by #2] Must be less than 0.25 0.08 ------------------------------------------------------------------------------- LEGAL REQUIREMENTS OFFERING TYPE (CHECK ONE) The securities fall into one of the following transaction types (see Definitions): [_] U.S. Registered Public [Issuer must have 3 years of continuous Offering...................... 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 [Issuer must have 3 years of continuous Offering...................... 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, [_] NO or benefited directly or indirectly from, the transaction. Completed by: Dipankar Banerjee Date:08-09-2016 --------------------------------------------- Global Syndicate Team Member Approved by: Steven DeLaura Date:08-09-2016 --------------------------------------------- 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.
[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 1-5 YEAR USD BOND ETF (ISHISTB) ISHARES 0-5 YEAR HIGH YIELD CORPORATE BOND ETF (ISHSHYG) 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 Secured Credit Portfolio (BR-MSB) 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) CoreAlpha Bond Master Portfolio (MIP_CORA) 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 12-02-2015 Offering Commencement: ------------------------ ----------- Security Type: BND/CORP ------------------------------------- ------------------------------------------------------------------------------- Issuer Ball Corporation (2020) --------------------------- -------------------------------------------------- Selling Underwriter Goldman, Sachs & Co., --------------------------- -------------------------------------------------- Affiliated Underwriter(s) [X] PNC Capital Markets LLC [_] Other: --------------------------- -------------------------------------------------- List of Underwriter(s) Goldman, Sachs & Co., Deutsche Bank Securities Inc., Deutsche Bank AG, London Branch, Merrill Lynch, Pierce, Fenner & Smith Incorporated, Merrill Lynch International, KeyBanc Capital Markets Inc., Mizuho Securities USA Inc., Mizuho International plc, Rabo Securities USA, Inc., Cooperatieve Centrale Raiffeisen-Boerenleenbank B.A., ANZ Securities, Inc., BNP Paribas Securities Corp., Credit Agricole Securities (USA) Inc., Mitsubishi UFJ Securities (USA), Inc., Mitsubishi UFJ Securities International plc, PNC Capital Markets LLC, Santander Investment Securities Inc., Banco Santander, S.A., SMBC Nikko Securities Americas, Inc., SMBC Nikko Capital Markets Limited, TD Securities (USA) LLC, UniCredit Capital Markets LLC, ------------------------------------------------------------------------------- Page 1 of 2 Rule 10f-3 Report - Definitions [LOGO OF BLACKROCK] ------------------------------------------------------------------------------- UniCredit Bank AG, RB International Markets (USA) LLC, Raiffeisen Bank International AG, Barclays Capital Inc., Barclays Bank PLC, The Williams Capital Group, L.P. ------------------------------------------------------------------------------- TRANSACTION DETAILS ------------------------------- Date of Purchase 12-02-2015 ------------------------------- ------------------------------------------------------------------------------- Purchase Price/Share (PER SHARE / % OF PAR) $100.00 Total Commission, Spread or Profit 1.250% ------------------------------------------------------------------------------- ------------------------------------------------------------------------------- 1. Aggregate Principal Amount Purchased (a+b) $ 50,000,000 --------------------------------------------------------------- -------------- a. US Registered Funds (Appendix attached with individual Fund/Client purchase) $ 24,825,000 --------------------------------------------------------------- -------------- b. Other BlackRock Clients $ 25,175,000 --------------------------------------------------------------- -------------- 2. Aggregate Principal Amount of Offering $1,000,000,000 --------------------------------------------------------------- -------------- FUND RATIO [Divide Sum of #1 by #2] Must be less than 0.25 0.05000 ------------------------------------------------------------------------------- LEGAL REQUIREMENTS OFFERING TYPE (CHECK ONE) The securities fall into one of the following transaction types (see Definitions): [X] U.S. Registered Public [Issuer must have 3 years of continuous Offering...................... 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 [Issuer must have 3 years of continuous Offering...................... 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, [_] NO or benefited directly or indirectly from, the transaction. Rule 10f-3 Report - Definitions [LOGO OF BLACKROCK] Completed by: Dipankar Banerjee Date: 12-08-2015 --------------------------------------------- Global Syndicate Team Member Approved by: Steven DeLaura Date: 12-08-2015 --------------------------------------------- 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.
[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 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 08-16-2016 Offering Commencement: ------------------------ ----------- Security Type: BND/CORP ------------------------------------- ------------------------------------------------------------------------------- Issuer Boise Cascade Company (2024) --------------------------- -------------------------------------------------- Selling Underwriter Wells Fargo Securities --------------------------- -------------------------------------------------- Affiliated Underwriter(s) [X] PNC Capital Markets LLC [_] Other: --------------------------- -------------------------------------------------- List of Underwriter(s) Wells Fargo Securities, LLC, Merrill Lynch, Pierce, Fenner & Smith Incorporated, J.P. Morgan Securities LLC, U.S. Bancorp Investments, Inc., Goldman, Sachs & Co., PNC Capital Markets LLC ------------------------------------------------------------------------------- TRANSACTION DETAILS ------------------------------- Date of Purchase 08-16-2016 ------------------------------- ------------------------------------------------------------------------------- Purchase Price/Share (PER SHARE / % OF PAR) $100.00 Total Commission, Spread or Profit 1.375% ------------------------------------------------------------------------------- ------------------------------------------------------------------------------- 1. Aggregate Principal Amount Purchased (a+b) $ 15,000,000 ----------------------------------------------------------------- ------------ a. US Registered Funds (Appendix attached with individual Fund/Client purchase) $ 8,129,000 ----------------------------------------------------------------- ------------ b. Other BlackRock Clients $ 6,871,000 ----------------------------------------------------------------- ------------ 2. Aggregate Principal Amount of Offering $350,000,000 ----------------------------------------------------------------- ------------ 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 0.04285 ------------------------------------------------------------------------------- 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 [Issuer must have 3 years of continuous Offering...................... 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 [Issuer must have 3 years of continuous Offering...................... 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, [_] NO or benefited directly or indirectly from, the transaction. Completed by: Dillip Behera Date: 08-18-2016 --------------------------------------------- Global Syndicate Team Member Approved by: Steven DeLaura Date: 08-18-2016 --------------------------------------------- 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.
[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 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 Strategic Global Bond Fund, Inc. (BR-WI) 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) THE OFFERING KEY CHARACTERISTICS (COMPLETE ALL FIELDS) -------------------------------------- Date of 04-18-2016 Offering Commencement: ------------------------ ------------ Security Type: BND/CORP -------------------------------------- ------------------------------------------------------------------------------- Issuer Citigroup Inc (Preferred-2049) --------------------------- -------------------------------------------------- Selling Underwriter Citigroup Global Markets Inc. --------------------------- -------------------------------------------------- Affiliated Underwriter(s) [X] PNC Capital Markets LLC [_] Other: --------------------------- -------------------------------------------------- List of Underwriter(s) Citigroup Global Markets Inc., Barclays Capital Inc., Credit Suisse Securities (USA) LLC, Deutsche Bank Securities Inc., ING Financial Markets LLC, Scotia Capital (USA) Inc., SG Americas Securities, LLC, Skandinaviska Enskilda Banken AB, TD Securities (USA) LLC, UniCredit Capital Markets LLC, ANZ Securities, Inc., BBVA Securities Inc., Blaylock Beal Van, LLC, BMO Capital Markets Corp., Capital One Securities, Inc., CIBC World Markets Corp., Commerz Markets LLC, Credit Agricole Securities (USA) Inc., Danske Markets Inc., Drexel Hamilton, LLC, Fifth Third Securities, Inc., Imperial Capital, LLC, Lloyds Securities Inc., Mischler Financial Group, Inc., nabSecurities, LLC, Natixis Securities Americas LLC, Nomura Securities International, Inc., PNC Capital Markets LLC, RBC Capital Markets, LLC, RBS Securities Inc., Tigress Financial Partners, The Williams Capital Group, L.P. ------------------------------------------------------------------------------- TRANSACTION DETAILS ------------------------------- Date of Purchase 04-18-2016 ------------------------------- Page 1 of 2 Rule 10f-3 Report - Definitions [LOGO OF BLACKROCK] ------------------------------------------------------------------------------- Purchase Price/Share (PER SHARE / % OF PAR) $100.00 Total Commission, Spread or Profit 1.50% ------------------------------------------------------------------------------- ------------------------------------------------------------------------------- 1. Aggregate Principal Amount Purchased (a+b) $ 100,000,000 --------------------------------------------------------------- -------------- a. US Registered Funds (Appendix attached with individual Fund/Client purchase) $ 53,491,000 --------------------------------------------------------------- -------------- b. Other BlackRock Clients $ 46,509,000 --------------------------------------------------------------- -------------- 2. Aggregate Principal Amount of Offering $1,500,000,000 --------------------------------------------------------------- -------------- FUND RATIO [Divide Sum of #1 by #2] Must be less than 0.25 0.0667 ------------------------------------------------------------------------------- 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 [Issuer must have 3 years of continuous Offering...................... 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 [Issuer must have 3 years of continuous Offering...................... 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, [_] NO or benefited directly or indirectly from, the transaction. Completed by: Dillip Behera Date: 04-22-2016 --------------------------------------------- Global Syndicate Team Member Approved by: Steven DeLaura Date: 04-22-2016 --------------------------------------------- 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.
[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 ETF (ISHHYLD) ISHARES U.S. FIXED INCOME BALANCED RISK ETF (ISHINC) 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, 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 Secured Credit Portfolio (BR-MSB) 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 10-29-2015 Offering Commencement: ------------------------ ------------ Security Type: BND/CORP -------------------------------------- ------------------------------------------------------------------------------- Issuer First Data Corporation (2023) --------------------------- -------------------------------------------------- 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, Citigroup Global Markets Inc., Deutsche Bank Securities Inc., Morgan Stanley & Co. LLC, Credit Suisse Securities (USA) LLC, Barclays Capital Inc., HSBC Securities (USA) Inc., Mizuho Securities USA Inc., PNC Capital Markets LLC, SunTrust Robinson Humphrey, Inc., Wells Fargo Securities, LLC, KKR Capital Markets LLC, BBVA Securities Inc., FTN Financial Securities Corp., KeyBanc Capital Markets Inc. ------------------------------------------------------------------------------- TRANSACTION DETAILS ------------------------------- Date of Purchase 10-29-2015 ------------------------------- ------------------------------------------------------------------------------- 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) $ 450,000,000 --------------------------------------------------------------- -------------- a. US Registered Funds (Appendix attached with individual Fund/Client purchase) $ 306,502,000 --------------------------------------------------------------- -------------- b. Other BlackRock Clients $ 143,498,000 --------------------------------------------------------------- -------------- 2. Aggregate Principal Amount of Offering $3,400,000,000 --------------------------------------------------------------- -------------- FUND RATIO [Divide Sum of #1 by #2] Must be less than 0.25 0.1323 ------------------------------------------------------------------------------- LEGAL REQUIREMENTS OFFERING TYPE (CHECK ONE) The securities fall into one of the following transaction types (see Definitions): [_] U.S. Registered Public [Issuer must have 3 years of continuous Offering...................... 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 [Issuer must have 3 years of continuous Offering...................... 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, [_] NO or benefited directly or indirectly from, the transaction. Rule 10f-3 Report - Definitions [LOGO OF BLACKROCK] Completed by: Dipankar Banerjee Date: 11-04-2015 --------------------------------------------- Global Syndicate Team Member Approved by: Steven DeLaura Date: 11-04-2015 --------------------------------------------- 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. 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.
[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 U.S. FIXED INCOME BALANCED RISK ETF (ISHINC) ISHARES CORE TOTAL USD BOND MARKET ETF (ISHIUSB) BlackRock Alternative Strategies Fund - Trading Account (ACS-TRD) BlackRock Balanced Capital Portfolio (FI) (BCS_F) 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 Secured Credit Portfolio (BR-MSB) BlackRock Credit Allocation Income Trust (Preferred Sleeve) (BTZ-PREF) BlackRock Total Return V.I. Portfolio (Ins - Var Ser) (BVA-BF) BlackRock High Yield Portfolio of BlackRock Series Fund, Inc (BVA-HI) BlackRock High Yield V.I. Fund (BVA-HY) BlackRock Total Return Portfolio (Ins - Series) (BVA-TR) 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) JNL/BlackRock Global Long Short Credit Fund (SMF_CC-GC) Advanced Series Trust - AST BlackRock/Loomis Sayles Bond Portfolio (SMF_PRUTR) THE OFFERING KEY CHARACTERISTICS (COMPLETE ALL FIELDS) -------------------------------------- Date of 11-05-2015 Offering Commencement: ------------------------ ------------ Security Type: BND/CORP -------------------------------------- ------------------------------------------------------------------------------- Issuer First Data Corporation (2024) --------------------------- -------------------------------------------------- Selling Underwriter Deutsche Bank Securities Inc. --------------------------- -------------------------------------------------- Affiliated Underwriter(s) [X] PNC Capital Markets LLC [_] Other: --------------------------- -------------------------------------------------- List of Underwriter(s) Deutsche Bank Securities Inc., Merrill Lynch, Pierce, Fenner & Smith Incorporated, Citigroup Global Markets Inc, Morgan Stanley & Co. LLC, PNC Capital Markets LLC, Credit Suisse Securities (USA) LLC, HSBC Securities (USA) Inc, Mizuho Securities USA Inc, SunTrust Robinson Humphrey, Inc, KKR Capital Markets LLC ------------------------------------------------------------------------------- Page 1 of 2 Rule 10f-3 Report - Definitions [LOGO OF BLACKROCK] TRANSACTION DETAILS ------------------------------- Date of Purchase 11-05-2015 ------------------------------- ------------------------------------------------------------------------------- Purchase Price/Share (PER SHARE / % OF PAR) $100 Total Commission, Spread or Profit 1.00 ------------------------------------------------------------------------------- ------------------------------------------------------------------------------- 1. Aggregate Principal Amount Purchased (a+b) $ 90,000,000 --------------------------------------------------------------- -------------- a. US Registered Funds (Appendix attached with individual Fund/Client purchase) $ 52,806,000 --------------------------------------------------------------- -------------- b. Other BlackRock Clients $ 37,194,000 --------------------------------------------------------------- -------------- 2. Aggregate Principal Amount of Offering $1,000,000,000 --------------------------------------------------------------- -------------- FUND RATIO [Divide Sum of #1 by #2] Must be less than 0.25 0.09 ------------------------------------------------------------------------------- LEGAL REQUIREMENTS OFFERING TYPE (CHECK ONE) The securities fall into one of the following transaction types (see Definitions): [X] U.S. Registered Public [Issuer must have 3 years of continuous Offering...................... 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 [Issuer must have 3 years of continuous Offering...................... 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, [_] NO or benefited directly or indirectly from, the transaction. Rule 10f-3 Report - Definitions [LOGO OF BLACKROCK] Completed by: Dipankar Banerjee Date: 11-10-2015 --------------------------------------------- Global Syndicate Team Member Approved by: Steven DeLaura Date: 11-10-2015 --------------------------------------------- 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.
[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 Balanced Capital Portfolio (FI) (BCS_F) 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 Secured Credit Portfolio (BR-MSB) BlackRock Total Return V.I. Portfolio (Ins - Var Ser) (BVA-BF) BlackRock High Yield Portfolio of BlackRock Series Fund, Inc (BVA-HI) BlackRock High Yield V.I. Fund (BVA-HY) BlackRock Total Return Portfolio (Ins - Series) (BVA-TR) 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) JNL/BlackRock Global Long Short Credit Fund (SMF_CC-GC) Advanced Series Trust - AST BlackRock/Loomis Sayles Bond Portfolio (SMF_PRUTR) THE OFFERING KEY CHARACTERISTICS (COMPLETE ALL FIELDS) ------------------------------------- Date of 11-05-2015 Offering Commencement: ------------------------ ----------- Security Type: BND/CORP ------------------------------------- ------------------------------------------------------------------------------- Issuer First Data Corporation (2024) --------------------------- -------------------------------------------------- Selling Underwriter Deutsche Bank Securities Inc. --------------------------- -------------------------------------------------- Affiliated Underwriter(s) [X] PNC Capital Markets LLC [_] Other: --------------------------- -------------------------------------------------- List of Underwriter(s) Deutsche Bank Securities Inc., Merrill Lynch, Pierce, Fenner & Smith Incorporated, Citigroup Global Markets Inc, Morgan Stanley & Co. LLC, PNC Capital Markets LLC, Credit Suisse Securities (USA) LLC, HSBC Securities (USA) Inc, Mizuho Securities USA Inc, SunTrust Robinson Humphrey, Inc, KKR Capital Markets LLC ------------------------------------------------------------------------------- Page 1 of 2 Rule 10f-3 Report - Definitions [LOGO OF BLACKROCK] TRANSACTION DETAILS ------------------------------- Date of Purchase 11-05-2015 ------------------------------- ------------------------------------------------------------------------------- Purchase Price/Share (PER SHARE / % OF PAR) $100 Total Commission, Spread or Profit 1.00 ------------------------------------------------------------------------------- ------------------------------------------------------------------------------- 1. Aggregate Principal Amount Purchased (a+b) $300,000,000 --------------------------------------------------------------- -------------- a. US Registered Funds (Appendix attached with individual Fund/Client purchase) $ 202,194,000 --------------------------------------------------------------- -------------- b. Other BlackRock Clients $ 97,806,000 --------------------------------------------------------------- -------------- 2. Aggregate Principal Amount of Offering $2,200,000,000 --------------------------------------------------------------- -------------- FUND RATIO [Divide Sum of #1 by #2] Must be less than 0.25 0.13636 ------------------------------------------------------------------------------- LEGAL REQUIREMENTS OFFERING TYPE (CHECK ONE) The securities fall into one of the following transaction types (see Definitions): [X] U.S. Registered Public [Issuer must have 3 years of continuous Offering...................... 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 [Issuer must have 3 years of continuous Offering...................... 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, [_] NO or benefited directly or indirectly from, the transaction. Rule 10f-3 Report - Definitions [LOGO OF BLACKROCK] Completed by: Dipankar Banerjee Date: 11-10-2015 --------------------------------------------- Global Syndicate Team Member Approved by: Steven DeLaura Date: 11-10-2015 --------------------------------------------- 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. 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.
[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 ETF (ISHHYLD) 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 Secured Credit Portfolio (BR-MSB) 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 11-02-2015 Offering Commencement: ------------------------ ----------- Security Type: BND/CORP ------------------------------------- ------------------------------------------------------------------------------- Issuer Huntington Ingalls Industries, 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 Wells Fargo Securities, LLC, Mizuho Securities USA Inc., Scotia Capital (USA) Inc. U.S. Bancorp Investments, Inc, Capital One Securities, Inc, Mitsubishi UFJ Securities (USA), Inc, TD Securities (USA) LLC , BB&T Capital Markets, a division of BB&T Securities, LLC, Loop Capital Markets LLC, PNC Capital Markets LLC ------------------------------------------------------------------------------- TRANSACTION DETAILS ------------------------------- Date of Purchase 11-02-2015 ------------------------------- --------------------------------------------------------------------------- Purchase Price/Share (PER SHARE / % OF PAR) $100 Total Commission, Spread or Profit 1.750 --------------------------------------------------------------------------- Page 1 of 2 Rule 10f-3 Report - Definitions [LOGO OF BLACKROCK] ------------------------------------------------------------------------------- 1. Aggregate Principal Amount Purchased (a+b) $ 50,000,000 ----------------------------------------------------------------- ------------ a. US Registered Funds (Appendix attached with individual Fund/Client purchase) $ 26,022,000 ----------------------------------------------------------------- ------------ b. Other BlackRock Clients $ 23,978,000 ----------------------------------------------------------------- ------------ 2. Aggregate Principal Amount of Offering $600,000,000 ----------------------------------------------------------------- ------------ FUND RATIO [Divide Sum of #1 by #2] Must be less than 0.25 0.0833 ------------------------------------------------------------------------------- LEGAL REQUIREMENTS OFFERING TYPE (CHECK ONE) The securities fall into one of the following transaction types (see Definitions): [X] U.S. Registered Public [Issuer must have 3 years of continuous Offering...................... 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 [Issuer must have 3 years of continuous Offering...................... 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, [_] NO or benefited directly or indirectly from, the transaction. Completed by: Dipankar Banerjee Date: 11-04-2015 --------------------------------------------- Global Syndicate Team Member Approved by: Steven DeLaura Date: 11-04-2015 --------------------------------------------- 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.
[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 Secured Credit Portfolio (BR-MSB) 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) THE OFFERING KEY CHARACTERISTICS (COMPLETE ALL FIELDS) ------------------------------------- Date of 10-21-2015 Offering Commencement: ------------------------ ----------- Security Type: BND/CORP ------------------------------------- ------------------------------------------------------------------------------- Issuer Jarden Corporation (2023) --------------------------- -------------------------------------------------- Selling Underwriter Barclays Capital Inc --------------------------- -------------------------------------------------- Affiliated Underwriter(s) [X] PNC Capital Markets LLC [_] Other: --------------------------- -------------------------------------------------- List of Underwriter(s) Barclays Capital Inc., Credit Suisse Securities (USA) LLC., UBS Securities LLC, Wells Fargo Securities, LLC, Credit Agricole Securities (USA) Inc., RBC Capital Markets, LLC.., HSBC Securities (USA) Inc., PNC Capital Markets LLC, SunTrust Robinson Humphrey, Inc ------------------------------------------------------------------------------- TRANSACTION DETAILS ------------------------------- Date of Purchase 10-21-2015 ------------------------------- ------------------------------------------------------------------------------- Purchase Price/Share (PER SHARE / % OF PAR) $100.00 Total Commission, Spread or Profit 1.50% ------------------------------------------------------------------------------- ------------------------------------------------------------------------------- 1. Aggregate Principal Amount Purchased (a+b) $18,000,000 ------------------------------------------------------------------ ----------- a. US Registered Funds (Appendix attached with individual Fund/Client purchase) $9,774,000 ------------------------------------------------------------------------------- Page 1 of 2 Rule 10f-3 Report - Definitions [LOGO OF BLACKROCK] ------------------------------------------------------------------------------- b. Other BlackRock Clients $ 8,226,000 ----------------------------------------------------------------- ------------ 2. Aggregate Principal Amount of Offering $300,000,000 ----------------------------------------------------------------- ------------ FUND RATIO [Divide Sum of #1 by #2] Must be less than 0.25 0.06 ------------------------------------------------------------------------------- LEGAL REQUIREMENTS OFFERING TYPE (CHECK ONE) The securities fall into one of the following transaction types (see Definitions): [_] U.S. Registered Public [Issuer must have 3 years of continuous Offering...................... 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 [Issuer must have 3 years of continuous Offering...................... 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, [_] NO or benefited directly or indirectly from, the transaction. Completed by: Dipankar Banerjee Date: 10-27-2015 --------------------------------------------- Global Syndicate Team Member Approved by: Steven DeLaura Date: 10-27-2015 --------------------------------------------- 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.
[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 B - CA RATED CORPORATE BOND ETF (ISHQLTC) 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 Secured Credit Portfolio (BR-MSB) 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 05-12-2016 Offering Commencement: ------------------------ ----------- Security Type: BND/CORP ------------------------------------- ------------------------------------------------------------------------------- Issuer Joseph T. Ryerson & Son, Inc. (2022) --------------------------- -------------------------------------------------- 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, Deutsche Bank Securities Inc, J.P. Morgan Securities LLC, BMO Capital Markets Corp., Goldman Sachs & Co, Keybank Capital Markets Inc., PNC Capital Markets LLC ------------------------------------------------------------------------------- TRANSACTION DETAILS ------------------------------- Date of Purchase 05-12-2016 ------------------------------- ------------------------------------------------------------------------------- Purchase Price/Share (PER SHARE / % OF PAR) $100 Total Commission, Spread or Profit 1.750% ------------------------------------------------------------------------------- ------------------------------------------------------------------------------- 1. Aggregate Principal Amount Purchased (a+b) $25,000,000 --------------------------------------------------------------- ----------- a. US Registered Funds (Appendix attached with individual $15,893,000 Fund/Client purchase) ------------------------------------------------------------------------------- Page 1 of 2 Rule 10f-3 Report - Definitions [LOGO OF BLACKROCK] ------------------------------------------------------------------------------- b. Other BlackRock Clients $ 9,107,000 ----------------------------------------------------------------- ------------ 2. Aggregate Principal Amount of Offering $650,000,000 ----------------------------------------------------------------- ------------ FUND RATIO [Divide Sum of #1 by #2] Must be less than 0.25 0.038462 ------------------------------------------------------------------------------- LEGAL REQUIREMENTS OFFERING TYPE (CHECK ONE) The securities fall into one of the following transaction types (see Definitions): [X] U.S. Registered Public [Issuer must have 3 years of continuous Offering...................... 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 [Issuer must have 3 years of continuous Offering...................... 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, [_] NO or benefited directly or indirectly from, the transaction. Completed by: Dipankar Banerjee Date: 05-20-2016 --------------------------------------------- Global Syndicate Team Member Approved by: Betsy Mathews, Steven DeLaura Date: 05-20-2016 --------------------------------------------- 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.
[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 CORE U.S. CREDIT BOND ETF (ISHCRED) Multimanager Core Bond Portfolio (AXA-VIP) AZL Enhanced Bond Index Fund (AZ-CORE) BlackRock Allocation Target Shares: Series C Portfolio (BATSC) BlackRock Balanced Capital Portfolio (FI) (BCS_F) BlackRock Core Bond Trust (BHK) BlackRock Limited Duration Income Trust (BLW) BlackRock Core Bond Portfolio (BR-CORE) BlackRock Funds, BlackRock Global Long/Short Credit Fund (BR-GC) BlackRock Investment Grade Bond Portfolio (BR-IG) BlackRock Multi Asset Income - Passive Fixed Income Portfolio (BR-INC-PFI) Strategic Income Opportunities Fund (BR-SIP) BlackRock Strategic Global Bond Fund, Inc. (BR-WI) BlackRock Credit Allocation Income Trust (Preferred Sleeve) (BTZ-PREF) BlackRock Total Return V.I. Portfolio (Ins - Var Ser) (BVA-BF) BlackRock Total Return Portfolio (Ins - Series) (BVA-TR) Consulting Group Capital Markets Funds (CG-CGCM) Metropolitan Series Fund, Inc.- BlackRock Bond Income Portfolio (MET-BI) Master Total Return Portfolio of Master Bond LLC (MF-BOND) JNL/BlackRock Global Long Short Credit Fund (SMF_CC-GC) 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 05-23-2016 Offering Commencement: ------------------------ ------------ Security Type: BND/CORP -------------------------------------- ------------------------------------------------------------------------------- Issuer Lam Research Corporation (2026) --------------------------- -------------------------------------------------- Selling Underwriter Goldman Sachs & Co --------------------------- -------------------------------------------------- Affiliated Underwriter(s) [X] PNC Capital Markets LLC [X] Other: Mitsubishi UFJ Securities (USA), Inc. for CG-CGCM --------------------------- -------------------------------------------------- List of Underwriter(s) Goldman, Sachs & Co., Barclays Capital Inc., Citigroup Global Markets Inc., J.P. Morgan Securities LLC, BNP Paribas Securities Corp., Deutsche Bank Securities Inc., Mitsubishi UFJ Securities (USA), Inc., Mizuho Securities USA Inc., Wells Fargo Securities, LLC, HSBC Securities (USA) Inc., PNC Capital Markets LLC, SunTrust Robinson Humphrey, Inc ------------------------------------------------------------------------------- Page 1 of 2 Rule 10f-3 Report - Definitions [LOGO OF BLACKROCK] TRANSACTION DETAILS ------------------------------- Date of Purchase 05-23-2016 ------------------------------- ------------------------------------------------------------------------------- Purchase Price/Share (PER SHARE / % OF PAR) $99.744 Total Commission, Spread or Profit 0.650% ------------------------------------------------------------------------------- ------------------------------------------------------------------------------- 1. Aggregate Principal Amount Purchased (a+b) $ 75,000,000 --------------------------------------------------------------- -------------- a. US Registered Funds (Appendix attached with individual Fund/Client purchase) $ 21,893,000 --------------------------------------------------------------- -------------- b. Other BlackRock Clients $ 53,107,000 --------------------------------------------------------------- -------------- 2. Aggregate Principal Amount of Offering $1,000,000,000 --------------------------------------------------------------- -------------- FUND RATIO [Divide Sum of #1 by #2] Must be less than 0.25 0.075 ------------------------------------------------------------------------------- LEGAL REQUIREMENTS OFFERING TYPE (CHECK ONE) The securities fall into one of the following transaction types (see Definitions): [X] U.S. Registered Public [Issuer must have 3 years of continuous Offering...................... 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 [Issuer must have 3 years of continuous Offering...................... 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, [_] NO or benefited directly or indirectly from, the transaction. Rule 10f-3 Report - Definitions [LOGO OF BLACKROCK] Completed by: Dipankar Banerjee Date: 05-31-2016 --------------------------------------------- Global Syndicate Team Member Approved by: Betsy Mathews Date: 05-31-2016 --------------------------------------------- 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.
[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 ETF (ISHHYLD) BlackRock Core Bond Trust - High Yield (BHK-HYLD) BlackRock Multi-Sector Income Trust - High Yield (BIT-HYLD) BlackRock Limited Duration Income Trust (BLW) 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 Secured Credit Portfolio (BR-MSB) 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) UBS PACE Intermediate Fixed Income Investments Portfolio (UBS-PACE) THE OFFERING KEY CHARACTERISTICS (COMPLETE ALL FIELDS) ------------------------------------- Date of 09-09-2015 Offering Commencement: ------------------------ ----------- Security Type: BND/CORP ------------------------------------- ------------------------------------------------------------------------------- Issuer Mallinckrodt International Finance S.A. and Mallinckrodt CB LLC (2023) --------------------------- -------------------------------------------------- Selling Underwriter Barclays Capital Inc. --------------------------- -------------------------------------------------- Affiliated Underwriter(s) [X] PNC Capital Markets LLC [_] Other: --------------------------- -------------------------------------------------- List of Underwriter(s) Barclays Capital Inc., Deutsche Bank Securities Inc., Citigroup Global Markets Inc., Goldman, Sachs & Co., Wells Fargo Securities, LLC., Mizuho Securities USA Inc., PNC Capital Markets LLC, SunTrust Robinson Humphrey, Inc. ------------------------------------------------------------------------------- TRANSACTION DETAILS ------------------------------- Date of Purchase 09-09-2015 ------------------------------- ------------------------------------------------------------------------------- Purchase Price/Share (PER SHARE / % OF PAR) $100.00 Total Commission, Spread or Profit 1.50 ------------------------------------------------------------------------------- ------------------------------------------------------------------------------- 1. Aggregate Principal Amount Purchased (a+b) $ 60,000,000 ------------------------------------------------------------------ ------------ Page 1 of 2 Rule 10f-3 Report - Definitions [LOGO OF BLACKROCK] ------------------------------------------------------------------------------- a. US Registered Funds (Appendix attached with individual Fund/Client purchase) $ 36,439,000 ----------------------------------------------------------------- ------------ b. Other BlackRock Clients $ 23,561,000 ----------------------------------------------------------------- ------------ 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): [_] U.S. Registered Public [Issuer must have 3 years of continuous Offering...................... 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 [Issuer must have 3 years of continuous Offering...................... 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, [_] NO or benefited directly or indirectly from, the transaction. Completed by: Dillip Behera Date: 09-11-2015 --------------------------------------------- Global Syndicate Team Member Approved by: Steven DeLaura Date: 09-11-2015 --------------------------------------------- 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.
[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 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 05-24-2016 Offering Commencement: ------------------------ ----------- Security Type: BND/CORP ------------------------------------- ------------------------------------------------------------------------------- Issuer Match Group, Inc. (2024) --------------------------- -------------------------------------------------- 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, BMO Capital Markets Corp., BNP Paribas Securities Corp., Goldman Sachs & Co, Barclays Capital Inc., Deutsche Bank Securities Inc., Fifth Third Securities, Inc, PNC Capital Markets LLC, Societe Generale ------------------------------------------------------------------------------- TRANSACTION DETAILS ------------------------------- Date of Purchase 05-24-2016 ------------------------------- ------------------------------------------------------------------------------- Purchase Price/Share (PER SHARE / % OF PAR) $100 Total Commission, Spread or Profit 1.125% ------------------------------------------------------------------------------- ------------------------------------------------------------------------------- 1. Aggregate Principal Amount Purchased (a+b) $ 10,000,000 ---------------------------------------------------------------- ------------- a. US Registered Funds (Appendix attached with individual Fund/Client purchase) $ 4,716,000 ---------------------------------------------------------------- ------------- b. Other BlackRock Clients $ 5,284,000 ------------------------------------------------------------------------------- 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 0.025 ------------------------------------------------------------------------------- LEGAL REQUIREMENTS OFFERING TYPE (CHECK ONE) The securities fall into one of the following transaction types (see Definitions): [X] U.S. Registered Public [Issuer must have 3 years of continuous Offering...................... 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 [Issuer must have 3 years of continuous Offering...................... 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, [_] NO or benefited directly or indirectly from, the transaction. Completed by: Dipankar Banerjee Date: 05-31-2016 --------------------------------------------- Global Syndicate Team Member Approved by: Steven DeLaura Date: 05-31-2016 --------------------------------------------- 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.
[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 U.S. FIXED INCOME BALANCED RISK ETF (ISHINC) ISHARES IBOXX $ INVESTMENT GRADE CORPORATE BOND ETF (ISHINTOP) Multimanager Core Bond Portfolio (AXA-VIP) AZL Enhanced Bond Index Fund (AZ-CORE) BlackRock Allocation Target Shares: Series C Portfolio (BATSC) BlackRock Balanced Capital Portfolio (FI) (BCS_F) BlackRock Core Bond Trust (BHK) BlackRock Limited Duration Income Trust (BLW) BlackRock Core Bond Portfolio (BR-CORE) BlackRock Funds, BlackRock Global Long/Short Credit Fund (BR-GC) BlackRock Investment Grade Bond Portfolio (BR-IG) BlackRock Multi Asset Income - Passive Fixed Income Portfolio (BR-INC-PFI) Strategic Income Opportunities Fund (BR-SIP) 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) CoreAlpha Bond Master Portfolio (MIP_CORA) AST BlackRock Global Strategies Portfolio (Core Active) (PRU-AA-CAB) JNL/BlackRock Global Long Short Credit Fund (SMF_CC-GC) 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 12-02-2015 Offering Commencement: ------------------------ ----------- Security Type: BND/CORP ------------------------------------- ------------------------------------------------------------------------------- Issuer McDonald's Corporation (2026) --------------------------- -------------------------------------------------- Selling Underwriter Morgan Stanley & Co. LLC, --------------------------- -------------------------------------------------- Affiliated Underwriter(s) [X] PNC Capital Markets LLC [_] Other: --------------------------- -------------------------------------------------- List of Underwriter(s) Citigroup Global Markets Inc., Goldman, Sachs & Co., J.P. Morgan Securities LLC, Merrill Lynch, Pierce, Fenner & Smith Incorporated, Mizuho Securities USA Inc., Morgan Stanley & Co. LLC, Wells Fargo Securities, LLC, ANZ Securities, Inc., Barclays Capital Inc., Blaylock Beal Van, LLC, BNP Paribas Securities Corp., Drexel Hamilton, LLC, HSBC Securities (USA) Inc., ING Financial Markets LLC, Lebenthal & Co., LLC, Loop Capital Markets LLC, Mitsubishi UFJ Securities (USA), Inc., PNC Capital ------------------------------------------------------------------------------- Page 1 of 2 Rule 10f-3 Report - Definitions [LOGO OF BLACKROCK] ------------------------------------------------------------------------------- Markets LLC, Rabo Securities USA, Inc., RBC Capital Markets, LLC, RBS Securities Inc., Samuel A. Ramirez & Company, Inc., Scotia Capital (USA) Inc., SG Americas Securities, LLC, SMBC Nikko Securities America, Inc., Standard Chartered Bank, SunTrust Robinson Humphrey, Inc., TD Securities (USA) LLC, The Williams Capital Group, L.P., Unicredit Capital Markets LLC, U.S. Bancorp Investments, Inc. ------------------------------------------------------------------------------- TRANSACTION DETAILS ------------------------------- Date of Purchase 12-02-2015 ------------------------------- ------------------------------------------------------------------------------- Purchase Price/Share (PER SHARE / % OF PAR) $99.676 Total Commission, Spread or Profit 0.450% ------------------------------------------------------------------------------- 1. Aggregate Principal Amount Purchased (a+b) $ 100,000,000 --------------------------------------------------------------- -------------- a. US Registered Funds (Appendix attached with individual Fund/Client purchase) $ 16,997,000 --------------------------------------------------------------- -------------- b. Other BlackRock Clients $ 83,003,000 --------------------------------------------------------------- -------------- 2. Aggregate Principal Amount of Offering $1,750,000,000 --------------------------------------------------------------- -------------- FUND RATIO [Divide Sum of #1 by #2] Must be less than 0.25 0.057142 ------------------------------------------------------------------------------- LEGAL REQUIREMENTS OFFERING TYPE (CHECK ONE) The securities fall into one of the following transaction types (see Definitions): [X] U.S. Registered Public [Issuer must have 3 years of continuous Offering...................... 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 [Issuer must have 3 years of continuous Offering...................... 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. Rule 10f-3 Report - Definitions [LOGO OF BLACKROCK] NO BENEFIT TO AFFILIATED UNDERWRITER (CHECK ONE) [X] YES No affiliated underwriter was a direct or indirect participant in, [_] NO or benefited directly or indirectly from, the transaction. Completed by: Dipankar Banerjee Date: 12-07-2015 --------------------------------------------- Global Syndicate Team Member Approved by: Steven DeLaura Date: 12-07-2015 --------------------------------------------- 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.
[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 INTERMEDIATE GOVERNMENT/CREDIT BOND ETF (ISHIGOVCR) BlackRock Balanced Capital Portfolio (FI) (BCS_F) BlackRock Core Bond Trust (BHK) BlackRock Limited Duration Income Trust (BLW) BlackRock Core Bond Portfolio (BR-CORE) BlackRock Funds, BlackRock Global Long/Short Credit Fund (BR-GC) 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) U.S. Total Bond Index Master Portfolio (MIP_AGG) JNL/BlackRock Global Long Short Credit Fund (SMF_CC-GC) Advanced Series Trust - AST BlackRock/Loomis Sayles Bond Portfolio (SMF_PRUTR) THE OFFERING KEY CHARACTERISTICS (COMPLETE ALL FIELDS) ------------------------------------- Date of 10-27-2015 Offering Commencement: ------------------------ ----------- Security Type: BND/CORP ------------------------------------- ------------------------------------------------------------------------------- Issuer Prologis, L.P. (2025) --------------------------- -------------------------------------------------- Selling Underwriter Morgan Stanley & Co. LLC --------------------------- -------------------------------------------------- Affiliated Underwriter(s) [X] PNC Capital Markets LLC [_] Other: --------------------------- -------------------------------------------------- List of Underwriter(s) Morgan Stanley & Co. LLC, Goldman, Sachs& Co., Merrill Lynch, Pierce, Fenner & Smith Incorporated, J.P. Morgan Securities LLC, Citigroup Global Markets Inc., Wells Fargo Securities, LLC, SMBC Nikko Securities America, Inc., Mitsubishi UFJ Securities (USA), Inc., Mizuho Securities USA Inc., HSBC Securities (USA) Inc., Scotia Capital (USA) Inc., ING Financial Markets LLC, Credit Agricole Securities (USA) Inc., PNC Capital Markets LLC, U.S. Bancorp Investments, Inc., BBVA Securities Inc., RBS Securities Inc., Regions Securities LLC, BNP Paribas Securities Corp. ------------------------------------------------------------------------------- TRANSACTION DETAILS ------------------------------- Date of Purchase 10-27-2015 ------------------------------- ------------------------------------------------------------------------------- Purchase Price/Share (PER SHARE / % OF PAR) $99.381 Total Commission, Spread or Profit 0.650% ------------------------------------------------------------------------------- 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) $ 6,113,000 ----------------------------------------------------------------- ------------ b. Other BlackRock Clients $ 18,887,000 ----------------------------------------------------------------- ------------ 2. Aggregate Principal Amount of Offering $750,000,000 ----------------------------------------------------------------- ------------ FUND RATIO [Divide Sum of #1 by #2] Must be less than 0.25 0.0333 ------------------------------------------------------------------------------- LEGAL REQUIREMENTS OFFERING TYPE (CHECK ONE) The securities fall into one of the following transaction types (see Definitions): [X] U.S. Registered Public [Issuer must have 3 years of continuous Offering...................... 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 [Issuer must have 3 years of continuous Offering...................... 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, [_] NO or benefited directly or indirectly from, the transaction. Completed by: Dipankar Banerjee Date: 10-29-2015 --------------------------------------------- Global Syndicate Team Member Approved by: Steven DeLaura Date: 10-29-15 --------------------------------------------- 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.
[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) 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 Secured Credit Portfolio (BR-MSB) 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) THE OFFERING KEY CHARACTERISTICS (COMPLETE ALL FIELDS) ------------------------------------- Date of 02-25-2016 Offering Commencement: ------------------------ ----------- Security Type: BND/CORP ------------------------------------- ------------------------------------------------------------------------------- Issuer PulteGroup, Inc (2026) --------------------------- -------------------------------------------------- Selling Underwriter Citigroup Global Markets Inc. --------------------------- -------------------------------------------------- Affiliated Underwriter(s) [X] PNC Capital Markets LLC [_] Other: --------------------------- -------------------------------------------------- List of Underwriter(s) Citigroup Global Markets Inc., J.P. Morgan Securities LLC, SunTrust Robinson Humphrey, Inc., Mizuho Securities USA Inc., Merrill Lynch, Pierce, Fenner & Smith Incorporated, BB&T Capital Markets, a division of BB&T Securities, LLC, Comerica Securities, Inc., PNC Capital Markets LLC, Wells Fargo Securities, LLC, BNP Paribas Securities Corp., Fifth Third Securities, Inc., U.S. Bancorp Investments, Inc., TD Securities (USA) LLC ------------------------------------------------------------------------------- TRANSACTION DETAILS ------------------------------- Date of Purchase 02-25-2016 ------------------------------- ------------------------------------------------------------------------------- Purchase Price/Share (PER SHARE / % OF PAR) $100.00 Total Commission, Spread or Profit 0.650% ------------------------------------------------------------------------------- ------------------------------------------------------------------------------- 1. Aggregate Principal Amount Purchased (a+b) $ 60,000,000 ------------------------------------------------------------------------------- Page 1 of 2 Rule 10f-3 Report - Definitions [LOGO OF BLACKROCK] ------------------------------------------------------------------------------- a. US Registered Funds (Appendix attached with individual Fund/Client purchase) $ 31,940,000 ----------------------------------------------------------------- ------------ b. Other BlackRock Clients $ 28,060,000 ----------------------------------------------------------------- ------------ 2. Aggregate Principal Amount of Offering $700,000,000 ----------------------------------------------------------------- ------------ FUND RATIO [Divide Sum of #1 by #2] Must be less than 0.25 0.08571 ------------------------------------------------------------------------------- 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 [Issuer must have 3 years of continuous Offering.......................... 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 [Issuer must have 3 years of continuous Offering.......................... 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, [_] NO or benefited directly or indirectly from, the transaction. Completed by: Dillip Behera Date: 02-29-2016 --------------------------------------------- Global Syndicate Team Member Approved by: Steven DeLaura Date: 02-29-2016 --------------------------------------------- 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.
[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 IBONDS DEC 2023 TERM CORPORATE ETF (ISHIBDO) ISHARES INTERMEDIATE CREDIT BOND ETF (ISHICRED) ISHARES INTERMEDIATE GOVERNMENT/CREDIT BOND ETF (ISHIGOVCR) ISHARES IBOXX $ INVESTMENT GRADE CORPORATE BOND ETF (ISHINTOP) Multimanager Core Bond Portfolio (AXA-VIP) AZL Enhanced Bond Index Fund (AZ-CORE) BlackRock Allocation Target Shares: Series C Portfolio (BATSC) BlackRock Balanced Capital Portfolio (FI) (BCS_F) BlackRock Core Bond Trust (BHK) BlackRock Limited Duration Income Trust (BLW) BlackRock Core Bond Portfolio (BR-CORE) BlackRock Funds, BlackRock Global Long/Short Credit Fund (BR-GC) BlackRock Investment Grade Bond Portfolio (BR-IG) 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) Consulting Group Capital Markets Funds (CG-CGCM) Metropolitan Series Fund, Inc.- BlackRock Bond Income Portfolio (MET-BI) Master Total Return Portfolio of Master Bond LLC (MF-BOND) JNL/BlackRock Global Long Short Credit Fund (SMF_CC-GC) 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 07-18-2016 Offering Commencement: ------------------------ ----------- Security Type: BND/CORP ------------------------------------- ------------------------------------------------------------------------------- Issuer Teva Pharmaceutical Finance Netherlands III B.V. (2023) --------------------------- -------------------------------------------------- Selling Underwriter Barclays Capital Inc --------------------------- -------------------------------------------------- Affiliated Underwriter(s) [X] PNC Capital Markets LLC [X] Other: Morgan Stanley & Co. LLC, MUFG Securities Americas Inc. for CG-CGCM --------------------------- -------------------------------------------------- List of Underwriter(s) Barclays Capital Inc., BNP Paribas Securities Corp., Credit Suisse Securities (USA) LLC, HSBC Securities (USA) Inc., Merrill Lynch, Pierce Fenner & Smith Incorporated, Mizuho Securities USA Inc., Citigroup Global Markets Inc., Morgan Stanley & Co. LLC, RBC Capital Markets, LLC, SMBC Nikko Securities America, Inc., Bank of China Limited London Branch, BBVA ------------------------------------------------------------------------------- Page 1 of 2 Rule 10f-3 Report - Definitions [LOGO OF BLACKROCK] ------------------------------------------------------------------------------- Securities Inc., Commerz Markets LLC, Lloyds Securities Inc., MUFG Securities Americas Inc., PNC Capital Markets LLC, Scotia Capital (USA) Inc., TD Securities (USA) LLC ------------------------------------------------------------------------------- TRANSACTION DETAILS ------------------------------- Date of Purchase 07-18-2016 ------------------------------- ------------------------------------------------------------------------------- Purchase Price/Share (PER SHARE / % OF PAR) $99.666 Total Commission, Spread or Profit 0.400% ------------------------------------------------------------------------------- ------------------------------------------------------------------------------- 1. Aggregate Principal Amount Purchased (a+b) $ 125,000,000 --------------------------------------------------------------- -------------- a. US Registered Funds (Appendix attached with individual Fund/Client purchase) $ 31,331,000 --------------------------------------------------------------- -------------- b. Other BlackRock Clients $ 93,669,000 --------------------------------------------------------------- -------------- 2. Aggregate Principal Amount of Offering $3,000,000,000 --------------------------------------------------------------- -------------- FUND RATIO [Divide Sum of #1 by #2] Must be less than 0.25 0.04166 ------------------------------------------------------------------------------- LEGAL REQUIREMENTS OFFERING TYPE (CHECK ONE) The securities fall into one of the following transaction types (see Definitions): [X] U.S. Registered Public [Issuer must have 3 years of continuous Offering...................... 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 [Issuer must have 3 years of continuous Offering...................... 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, [_] NO or benefited directly or indirectly from, the transaction. Rule 10f-3 Report - Definitions [LOGO OF BLACKROCK] Completed by: Dipankar Banerjee Date: 07-20-2016 --------------------------------------------- Global Syndicate Team Member Approved by: Steven DeLaura Date: 07-20-2016 --------------------------------------------- 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.
[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 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 Strategic Global Bond Fund, Inc. (BR-WI) 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 07-20-2016 Offering Commencement: ------------------------ ----------- Security Type: BND/CORP ------------------------------------- ------------------------------------------------------------------------------- Issuer The Goldman Sachs Group, Inc. (2049) --------------------------- -------------------------------------------------- Selling Underwriter Goldman, Sachs & Co. --------------------------- -------------------------------------------------- Affiliated Underwriter(s) [X] PNC Capital Markets LLC [_] Other: --------------------------- -------------------------------------------------- List of Underwriter(s) Goldman, Sachs & Co., BB&T Capital Markets, a division of BB&T Securities, LLC, BNY Mellon Capital Markets, LLC, Capital One Securities, Inc., Fifth Third Securities, Inc., KeyBanc Capital Markets Inc., Merrill Lynch, Pierce, Fenner & Smith Incorporated, Mizuho Securities USA Inc., PNC Capital Markets LLC, RBC Capital Markets, LLC, Regions Securities LLC, Scotia Capital (USA) Inc., SMBC Nikko Securities America, Inc., Standard Chartered Bank, SunTrust Robinson Humphrey, Inc., TD Securities (USA) LLC, UniCredit Capital Markets LLC, U.S. Bancorp Investments, Inc., Drexel Hamilton, LLC, Mischler Financial Group, Inc., Siebert Brandford Shank & Co., L.L.C., The Williams Capital Group, L.P. ------------------------------------------------------------------------------- TRANSACTION DETAILS ------------------------------- Date of Purchase 07-20-2016 ------------------------------- Page 1 of 2 Rule 10f-3 Report - Definitions [LOGO OF BLACKROCK] ------------------------------------------------------------------------------- Purchase Price/Share (PER SHARE / % OF PAR) $100 Total Commission, Spread or Profit 1.50% ------------------------------------------------------------------------------- ------------------------------------------------------------------------------- 1. Aggregate Principal Amount Purchased (a+b) $ 35,000,000 ----------------------------------------------------------------- ------------ a. US Registered Funds (Appendix attached with individual Fund/Client purchase) $ 18,662,000 ----------------------------------------------------------------- ------------ b. Other BlackRock Clients $ 16,338,000 ----------------------------------------------------------------- ------------ 2. Aggregate Principal Amount of Offering $650,000,000 ----------------------------------------------------------------- ------------ FUND RATIO [Divide Sum of #1 by #2] Must be less than 0.25 0.05384 ------------------------------------------------------------------------------- LEGAL REQUIREMENTS OFFERING TYPE (CHECK ONE) The securities fall into one of the following transaction types (see Definitions): [X] U.S. Registered Public [Issuer must have 3 years of continuous Offering...................... 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 [Issuer must have 3 years of continuous Offering...................... 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, [_] NO or benefited directly or indirectly from, the transaction. Completed by: Dipankar Banerjee Date: 07-25-2016 --------------------------------------------- Global Syndicate Team Member Rule 10f-3 Report - Definitions [LOGO OF BLACKROCK] Approved by: Steven DeLaura Date: 07-25-2016 --------------------------------------------- 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.
[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 ETF (ISHHYLD) 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 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 05-10-2016 Offering Commencement: ------------------------ ----------- Security Type: BND/CORP ------------------------------------- ------------------------------------------------------------------------------- Issuer The Goodyear Tire & Rubber Company (2026) --------------------------- -------------------------------------------------- Selling Underwriter Citigroup Global Markets Inc --------------------------- -------------------------------------------------- Affiliated Underwriter(s) [X] PNC Capital Markets LLC [_] Other: --------------------------- -------------------------------------------------- List of Underwriter(s) Citigroup Global Markets Inc., Barclays Capital Inc., BNP Paribas Securities Corp., Credit Agricole Securities (USA) Inc., Deutsche Bank Securities Inc., Goldman, Sachs & Co., J.P. Morgan Securities LLC, HSBC Securities (USA) Inc., Merrill Lynch, Pierce, Fenner & Smith Incorporated, Wells Fargo Securities, LLC, Natixis Securities Americas LLC, Capital One Securities, Inc., Commerz Markets LLC, Mitsubishi UFJ Securities (USA), Inc., PNC Capital Markets LLC, UniCredit Capital Markets LLC, U.S. Bancorp Investments, Inc ------------------------------------------------------------------------------- TRANSACTION DETAILS ------------------------------- Date of Purchase 05-10-2016 ------------------------------- Page 1 of 2 Rule 10f-3 Report - Definitions [LOGO OF BLACKROCK] ------------------------------------------------------------------------------- Purchase Price/Share (PER SHARE / % OF PAR) $100 Total Commission, Spread or Profit 1.20% ------------------------------------------------------------------------------- ------------------------------------------------------------------------------- 1. Aggregate Principal Amount Purchased (a+b) $ 45,000,000 ----------------------------------------------------------------- ------------ a. US Registered Funds (Appendix attached with individual Fund/Client purchase) $ 18,327,000 ----------------------------------------------------------------- ------------ b. Other BlackRock Clients $ 26,673,000 ----------------------------------------------------------------- ------------ 2. Aggregate Principal Amount of Offering $900,000,000 ----------------------------------------------------------------- ------------ FUND RATIO [Divide Sum of #1 by #2] Must be less than 0.25 0.05 ------------------------------------------------------------------------------- LEGAL REQUIREMENTS OFFERING TYPE (CHECK ONE) The securities fall into one of the following transaction types (see Definitions): [X] U.S. Registered Public [Issuer must have 3 years of continuous Offering...................... 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 [Issuer must have 3 years of continuous Offering...................... 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, [_] NO or benefited directly or indirectly from, the transaction. Completed by: Dipankar Banerjee Date: 05-12-2016 --------------------------------------------- Global Syndicate Team Member Rule 10f-3 Report - Definitions [LOGO OF BLACKROCK] Approved by: Steven DeLaura Date: 05-12-2016 ---------------------------------------------- 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.
[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 CORE U.S. CREDIT BOND ETF (ISHCRED) ISHARES INTERMEDIATE CREDIT BOND ETF (ISHICRED) ISHARES INTERMEDIATE GOVERNMENT/CREDIT BOND ETF (ISHIGOVCR) ISHARES IBOXX $ INVESTMENT GRADE CORPORATE BOND ETF (ISHINTOP) BlackRock Allocation Target Shares: Series C Portfolio (BATSC) BlackRock Core Bond Trust (BHK) BlackRock Investment Grade Bond Portfolio (BR-IG) Strategic Income Opportunities Fund (BR-SIP) BlackRock Strategic Global Bond Fund, Inc. (BR-WI) Nationwide Bond Index Fund (NW-BI) NVIT Bond Index Fund (NW-GBI) THE OFFERING KEY CHARACTERISTICS (COMPLETE ALL FIELDS) ------------------------------------- Date of 05-19-2016 Offering Commencement: ------------------------ ----------- Security Type: BND/CORP ------------------------------------- ------------------------------------------------------------------------------- Issuer The Southern Company (2026) --------------------------- -------------------------------------------------- Selling Underwriter Citigroup Global Markets Inc. --------------------------- -------------------------------------------------- Affiliated Underwriter(s) [X] PNC Capital Markets LLC [_] Other: --------------------------- -------------------------------------------------- List of Underwriter(s) Citigroup Global Markets Inc., Barclays Capital Inc., J.P. Morgan Securities LLC, Merrill Lynch, Pierce, Fenner & Smith Incorporated, Mizuho Securities USA Inc., Wells Fargo Securities, LLC, Morgan Stanley & Co. LLC, Mitsubishi UFJ Securities (USA), Inc., SunTrust Robinson Humphrey, Inc., UBS Securities LLC, BNP Paribas Securities Corp., Scotia Capital (USA) Inc., U.S. Bancorp Investments, Inc., BBVA Securities Inc., CIBC World Markets Corp., Commerz Markets LLC, Regions Securities LLC, TD Securities (USA) LLC, BB&T Capital Markets, a division of BB&T Securities, LLC, Fifth Third Securities, Inc., PNC Capital Markets LLC, Santander Investment Securities Inc., Blaylock Beal Van, LLC, Loop Capital Markets LLC, Mischler Financial Group, Inc., Samuel A. Ramirez & Company, Inc., Apto Partners, LLC, CastleOak Securities, L.P., C.L. King & Associates, Inc., Drexel Hamilton, LLC, MFR Securities, Inc., Siebert Brandford Shank & Co., L.L.C., The Williams Capital Group, L.P. ------------------------------------------------------------------------------- Page 1 of 2 Rule 10f-3 Report - Definitions [LOGO OF BLACKROCK] TRANSACTION DETAILS ------------------------------- Date of Purchase 05-19-2016 ------------------------------- ------------------------------------------------------------------------------- Purchase Price/Share (PER SHARE / % OF PAR) $99.638 Total Commission, Spread or Profit 0.650% ------------------------------------------------------------------------------- ------------------------------------------------------------------------------- 1. Aggregate Principal Amount Purchased (a+b) $ 100,000,000 --------------------------------------------------------------- -------------- a. US Registered Funds (Appendix attached with individual Fund/Client purchase) $ 36,431,000 --------------------------------------------------------------- -------------- b. Other BlackRock Clients $ 63,569,000 --------------------------------------------------------------- -------------- 2. Aggregate Principal Amount of Offering $1,750,000,000 --------------------------------------------------------------- -------------- FUND RATIO [Divide Sum of #1 by #2] Must be less than 0.25 0.05714 ------------------------------------------------------------------------------- LEGAL REQUIREMENTS OFFERING TYPE (CHECK ONE) The securities fall into one of the following transaction types (see Definitions): [X] U.S. Registered Public [Issuer must have 3 years of continuous Offering...................... 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 [Issuer must have 3 years of continuous Offering...................... 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, [_] NO or benefited directly or indirectly from, the transaction. Rule 10f-3 Report - Definitions [LOGO OF BLACKROCK] Completed by: Dipankar Banerjee Date:05-23-2016 --------------------------------------------- Approved by: Betsy Mathews Date:05-24-2016 --------------------------------------------- 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.
[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 Secured Credit Portfolio (BR-MSB) 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) THE OFFERING KEY CHARACTERISTICS (COMPLETE ALL FIELDS) ------------------------------------- Date of 10-27-2015 Offering Commencement: ------------------------ ----------- Security Type: BND/CORP ------------------------------------- ------------------------------------------------------------------------------- Issuer Toll Brothers Finance Corp. (2025) --------------------------- -------------------------------------------------- Selling Underwriter Deutsche Bank Securities Inc. --------------------------- -------------------------------------------------- Affiliated Underwriter(s) [X] PNC Capital Markets LLC [_] Other: --------------------------- -------------------------------------------------- List of Underwriter(s) Citigroup Global Markets Inc., Deutsche Bank Securities Inc., Mizuho Securities USA Inc., SunTrust Robinson Humphrey, Inc., PNC Capital Markets LLC, Capital One Securities, Inc., U.S. Bancorp Investments, Inc., Wells Fargo Securities, LLC, Comerica Securities, Inc., Fifth Third Securities, Inc., Regions Securities LLC, SMBC Nikko Securities America, Inc., TD Securities (USA) LLC ------------------------------------------------------------------------------- TRANSACTION DETAILS ------------------------------- Date of Purchase 10-27-2015 ------------------------------- ------------------------------------------------------------------------------- Purchase Price/Share (PER SHARE / % OF PAR) $100.00 Total Commission, Spread or Profit 0.650 ------------------------------------------------------------------------------- ------------------------------------------------------------------------------- 1. Aggregate Principal Amount Purchased (a+b) $20,000,000 ------------------------------------------------------------------ ----------- a. US Registered Funds (Appendix attached with individual Fund/Client purchase) $10,903,000 ------------------------------------------------------------------ ----------- Page 1 of 2 Rule 10f-3 Report - Definitions [LOGO OF BLACKROCK] ------------------------------------------------------------------------------- b. Other BlackRock Clients $ 9,097,000 ----------------------------------------------------------------- ------------ 2. Aggregate Principal Amount of Offering $350,000,000 ----------------------------------------------------------------- ------------ FUND RATIO [Divide Sum of #1 by #2] Must be less than 0.25 0.05714 ------------------------------------------------------------------------------- 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 [Issuer must have 3 years of continuous Offering...................... 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 [Issuer must have 3 years of continuous Offering...................... 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, [_] NO or benefited directly or indirectly from, the transaction. Completed by: Dillip Behera Date: 10-29-2015 --------------------------------------------- Global Syndicate Team Member Approved by: Steven DeLaura Date: 10-29-2015 --------------------------------------------- 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.
[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 1-5 YEAR USD BOND ETF (ISHISTB) ISHARES CORE TOTAL USD BOND MARKET ETF (ISHIUSB) ISHARES 0-5 YEAR HIGH YIELD CORPORATE BOND ETF (ISHSHYG) 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, 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 Secured Credit Portfolio (BR-MSB) 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 05-03-2016 Offering Commencement: ------------------------ ----------- Security Type: BND/CORP ------------------------------------- ------------------------------------------------------------------------------- Issuer United States Steel Corporation (2021) --------------------------- -------------------------------------------------- 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, Morgan Stanley & Co. LLC, Barclays Capital Inc., Merrill Lynch, Pierce, Fenner & Smith Incorporated, Wells Fargo Securities, PNC Capital Markets LLC, Scotia Capital (USA) Inc, Goldman, Sachs & Co, Credit Suisse Securities (USA) LLC, RBC Capital Markets, LLC, RBS Securities Inc., SunTrust Robinson Humphrey, Inc., BMO Capital Markets Corp., BNY Mellon Capital Markets, LLC, Citigroup Global Markets Inc, Commerz Markets LLC, The Huntington Investment Company, ING Financial Markets LLC, Societe Generale, The Williams Capital Group ------------------------------------------------------------------------------- Page 1 of 2 Rule 10f-3 Report - Definitions [LOGO OF BLACKROCK] TRANSACTION DETAILS ------------------------------- Date of Purchase 05-03-2016 ------------------------------- ------------------------------------------------------------------------------- Purchase Price/Share (PER SHARE / % OF PAR) $100 Total Commission, Spread or Profit 1.750% ------------------------------------------------------------------------------- ------------------------------------------------------------------------------- 1. Aggregate Principal Amount Purchased (a+b) $ 70,000,000 ----------------------------------------------------------------- ------------ a. US Registered Funds (Appendix attached with individual Fund/Client purchase) $ 32,218,000 ----------------------------------------------------------------- ------------ b. Other BlackRock Clients $ 37,782,000 ----------------------------------------------------------------- ------------ 2. Aggregate Principal Amount of Offering $980,000,000 ----------------------------------------------------------------- ------------ FUND RATIO [Divide Sum of #1 by #2] Must be less than 0.25 0.07143 ------------------------------------------------------------------------------- LEGAL REQUIREMENTS OFFERING TYPE (CHECK ONE) The securities fall into one of the following transaction types (see Definitions): [_] U.S. Registered Public [Issuer must have 3 years of continuous Offering..................... 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 [Issuer must have 3 years of continuous Offering..................... 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, [_] NO or benefited directly or indirectly from, the transaction. Rule 10f-3 Report - Definitions [LOGO OF BLACKROCK] Completed by: Dipankar Banerjee Date: 05-06-2016 --------------------------------------------- Global Syndicate Team Member Approved by: Betsy Mathews, Steven DeLaura Date: 05-06-2016 --------------------------------------------- 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.
[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 08-16-2016 Offering Commencement: ------------------------ ----------- Security Type: BND/CORP ------------------------------------- ------------------------------------------------------------------------------- Issuer Wolverine World Wide, Inc. (2026) --------------------------- -------------------------------------------------- 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, Wells Fargo Securities, LLC, HSBC Securities (USA) Inc., Fifth Third Securities, Inc., PNC Capital Markets LLC, MUFG Securities Americas Inc, SMBC Nikko Securities America, Inc ------------------------------------------------------------------------------- TRANSACTION DETAILS ------------------------------- Date of Purchase 08-16-2016 ------------------------------- ------------------------------------------------------------------------------- Purchase Price/Share (PER SHARE / % OF PAR) $100 Total Commission, Spread or Profit 1.250% ------------------------------------------------------------------------------- ------------------------------------------------------------------------------- 1. Aggregate Principal Amount Purchased (a+b) $12,500,000 ------------------------------------------------------------------ ----------- a. US Registered Funds (Appendix attached with individual Fund/Client purchase) $ 5,836,000 ------------------------------------------------------------------ ----------- b. Other BlackRock Clients $ 6,664,000 ------------------------------------------------------------------------------- Page 1 of 2 Rule 10f-3 Report - Definitions [LOGO OF BLACKROCK] ------------------------------------------------------------------------------- 2. Aggregate Principal Amount of Offering $250,000,000 ----------------------------------------------------------------- ------------ FUND RATIO [Divide Sum of #1 by #2] Must be less than 0.25 0.05 ------------------------------------------------------------------------------- LEGAL REQUIREMENTS OFFERING TYPE (CHECK ONE) The securities fall into one of the following transaction types (see Definitions): [_] U.S. Registered Public [Issuer must have 3 years of continuous Offering...................... 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 [Issuer must have 3 years of continuous Offering...................... 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, [_] NO or benefited directly or indirectly from, the transaction. Completed by: Dipankar Banerjee Date: 08-22-2016 --------------------------------------------- Global Syndicate Team Member Approved by: Steven DeLaura Date: 08-22-2016 --------------------------------------------- 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.
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, BlackRock Corporate High Yield Fund, Inc., and BlackRock Income Trust, Inc. (collectively, the "Funds"), as of and for the year ended August 31, 2016, 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 Funds' 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, 2016. 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 28, 2016
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