0001287695-14-000157.txt : 20140424 0001287695-14-000157.hdr.sgml : 20140424 20140424163528 ACCESSION NUMBER: 0001287695-14-000157 CONFORMED SUBMISSION TYPE: NSAR-A PUBLIC DOCUMENT COUNT: 5 CONFORMED PERIOD OF REPORT: 20140228 FILED AS OF DATE: 20140424 DATE AS OF CHANGE: 20140424 EFFECTIVENESS DATE: 20140424 FILER: COMPANY DATA: COMPANY CONFORMED NAME: BLACKROCK NEW YORK MUNICIPAL INCOME QUALITY TRUST CENTRAL INDEX KEY: 0001181024 IRS NUMBER: 816105964 STATE OF INCORPORATION: DE FISCAL YEAR END: 0831 FILING VALUES: FORM TYPE: NSAR-A SEC ACT: 1940 Act SEC FILE NUMBER: 811-21179 FILM NUMBER: 14782105 BUSINESS ADDRESS: STREET 1: 100 BELLEVUE PARKWAY STREET 2: MUTUAL FUND DEPARTMENT CITY: WILMINGTON STATE: DE ZIP: 19809 BUSINESS PHONE: 888-825-2257 MAIL ADDRESS: STREET 1: 100 BELLEVUE PARKWAY STREET 2: MUTUAL FUND DEPARTMENT CITY: WILMINGTON STATE: DE ZIP: 19809 FORMER COMPANY: FORMER CONFORMED NAME: BLACKROCK NEW YORK INSURED MUNICIPAL INCOME TRUST DATE OF NAME CHANGE: 20020904 FORMER COMPANY: FORMER CONFORMED NAME: BLACKROCK NEW YORK MUNICIPAL INCOME TRUST III DATE OF NAME CHANGE: 20020816 NSAR-A 1 bse.fil PAGE 1 000 A000000 02/28/2014 000 C000000 0001181024 000 D000000 N 000 E000000 NF 000 F000000 Y 000 G000000 N 000 H000000 N 000 I000000 6.1 000 J000000 A 001 A000000 BLK NEW YORK MUNICIPAL INCOME QUALITY TRUST 001 B000000 811-21179 001 C000000 8004417762 002 A000000 100 BELLEVUE PARKWAY 002 B000000 WILMINGTON 002 C000000 DE 002 D010000 19809 003 000000 N 004 000000 N 005 000000 N 006 000000 N 007 A000000 N 007 B000000 0 007 C010100 1 008 A000001 BLACKROCK ADVISORS, LLC 008 B000001 A 008 C000001 801-47710 008 D010001 WILMINGTON 008 D020001 DE 008 D030001 19809 008 A000002 BLACKROCK FINANCIAL MANAGEMENT, INC. 008 B000002 S 008 C000002 801-48433 008 D010002 NEW YORK 008 D020002 NY 008 D030002 10055 012 A000001 COMPUTERSHARE TRUST COMPANY, N.A. 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ANDREWS TITLE CFO EX-99.77O RULE 10F-3 2 mta77o.htm Unassociated Document
 
 
 


 
-  
Series 2014A-1 Participating Funds
 
n U.S. Registered Funds (Name of Fund, Aladdin Ticker):
BlackRock MuniHoldings New York Quality Fund, Inc. (MHN)
BlackRock New York Municipal Income Trust II (BFY)
BlackRock New York Municipal Income Quality Trust (BSE)
BlackRock MuniYield New York Quality Fund, Inc. (MYN)
BlackRock Muni New York Intermediate Duration Fund, Inc. (MNE)
BlackRock New York Municipal Income Trust (BNY)
BlackRock New York Municipal Fund of BlackRock Multi-State Municipal Series (BR-NY)
 
 
The Offering
 
 
Key Characteristics (Complete ALL Fields)
Date of
Offering Commencement:
02-21-2014
Security Type:
BND/MUNI

Issuer
METROPOLITAN TRANSN AUTHORITY-Series 2014A-1
Selling Underwriter
Morgan Stanley & Co. LLC
Affiliated Underwriter(s)
PNC Capital Markets LLC
List of Underwriter(s)
Morgan Stanley & Co. LLC, Siebert Brandford Shank & Co., Lebenthal & Company LLC, Bank of America Merrill Lynch, Citigroup Global Markets Inc, Goldman, Sachs & Co., J.P. Morgan Securities LLC, Jefferies LLC, Loop Capital Markets, Ramirez & Co., Inc., RBC Capital Markets, Wells Fargo Securities, Barclays Capital Inc., BNYMellon Capital Markets, Cabrera Capital Markets, LLC, CastleOak Securities, L.P, Duncan-Williams, Inc., Estrada Hinojosa & Company, Fidelity Capital Markets, Janney Montgomery Scott LLC, KeyBanc Capital Markets, M&T Securities, Inc., Mesirow Financial Inc., Oppenheimer & Co., Piper Jaffray, PNC Capital Markets LLC, Raymond James & Associates, Inc., Rice Financial Products Company, Roosevelt & Cross, Inc., Stern Brothers & Co., Stifel, Nicolaus & Company, Inc., TD Securities (USA) LLC, U.S. Bancorp Investments Inc., Williams Capital Group L.P.
 
 
Transaction Details
Date of Purchase
02/21/14

Purchase Price/Share
(per share / % of par)
$109.048
$108.63
Total Commission, Spread or Profit
0.4766159

1. Aggregate Principal Amount Purchased (a+b)
$10,915,000
a.US Registered Funds
(Appendix attached with individual Fund/Client purchase)
$10,765,000
b.Other BlackRock Clients
150,000
 
2. Aggregate Principal Amount of Offering
 
$269,405,000
Fund Ratio
[Divide Sum of #1 by #2]
Must be less than 0.25
(unless securities are Government Securities)
0.0405



 
 Page  of 2
 
 
 
Rule 10f-3 Report – Definitions
 

 
Legal Requirements
 
 
Offering Type (check ONE)
The securities fall into one of the following transaction types (see Definitions):
 
U.S. Registered Public Offering[Issuer must have 3 years of continuous operations]
 
Eligible Rule 144A Offering[Issuer must have 3 years of continuous operations]
 
Eligible Municipal Securities[Issuer must have 3 years of continuous operations]
 
Eligible Foreign Offering[Issuer must have 3 years of continuous operations]
 
Government Securities Offering
 
Timing and Price (check ONE or BOTH)
 
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)
  YES
  NO
The securities were offered pursuant to an underwriting or similar 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)
  YES
  NO
No affiliated underwriter was a direct or indirect participant in, or benefited directly or indirectly from, the transaction.



Completed by:
Eileen Rodriguez
Date:
03/13/2014
 
Global Syndicate Team Member
 
 
    
Approved by:
Steven DeLaura
Date:
03/13/2014
 
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 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)
Eligible Municipal Securities
The securities 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.
(a)with respect to ratings, the securities
(1)have received an investment grade rating from at least one nationally recognized statistical rating organization (“NRSRO”); or
(2)have received one of the three highest ratings from an NRSRO, if the issuer of the municipal securities, or the entity supplying the revenue 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.
(b) The purchases of municipal securities, if any, were not 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
U.S. Registered Public Offering.
The securities offered are registered under the Securities Act of 1933 that are being offered to the public.


 
 
 

EX-99.77O RULE 10F-3 3 ny77o.htm Unassociated Document
 
 
 


 
Participating Funds
 
n U.S. Registered Funds (Name of Fund, Aladdin Ticker):
iShares 2018 AMT-Free Muni Term ETF (IMUN18)
iShares Short-Term National AMT-Free Muni Bond ETF (NAT0-5)
BlackRock Intermediate Municipal Fund of BlackRock Municipal Series Trust (BR-INTMUNI)
BlackRock Muni New York Intermediate Duration Fund, Inc. (MNE)
BlackRock New York Municipal Income Trust II (BFY)
BlackRock New York Municipal Income Trust (BNY)
BlackRock New York Municipal Bond Trust (BQH)
BlackRock New York Municipal Fund of BlackRock Multi-State Municipal Series (BR-NY)
BlackRock New York Municipal Income Quality Trust (BSE)
BlackRock MuniHoldings New York Quality Fund, Inc. (MHN)
BlackRock MuniYield New York Quality Fund, Inc. (MYN)
 


 
The Offering
 
 
Key Characteristics (Complete ALL Fields)
Date of
Offering Commencement:
 
9/27/13
Security Type:
Municipal

Issuer
The City of New York -2014-Series E
Selling Underwriter
Siebert Branford Shank & Co., L.L.C.
Affiliated Underwriter(s)
 PNC Capital Markets LLC
 Other:       
List of Underwriter(s)
Siebert Brandford Shank & Co., Bank of America Merrill Lynch, Citigroup Global Markets Inc, Jefferies LLC, J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC, Barclays Capital Inc, Fidelity Capital Markets, Goldman Sachs & Co., Janney Montgomery Scott LLC, Lebenthal & Company LLC, Loop Capital Markets, M.R. Beal & Company, Ramirez & Co., Inc., Rice Financial Products Company, Roosevelt & Cross, Inc., PNC Capital Markets LLC, Southwest Securities Inc., Raymond James & Associates Inc., RBC Capital Markets, Wells Fargo Securities, Blaylock Robert Van LLC, Cabrera Capital Markets LLC, Drexel Hamilton LLC, TD Securities (USA) LLC
 
Transaction Details
Date of Purchase
9/27/13

Purchase Price/Share
(per share / % of par)
$115.72
$118.714$118.366
$107.025
 
Total Commission, Spread or Profit
0.432

1. Aggregate Principal Amount Purchased (a+b)
35,320,000
a.US Registered Funds
(Appendix attached with individual Fund/Client purchase)
34,395,000
b.Other BlackRock Clients
0
925,000 (PI)
 
2. Aggregate Principal Amount of Offering
 
368,430,000
Fund Ratio
[Divide Sum of #1 by #2]
Must be less than 0.25
(unless securities are Government Securities)
0.09587



 
 Page  of 2
 
 
 
Rule 10f-3 Report – Definitions
 

 
Legal Requirements
 
 
Offering Type (check ONE)
The securities fall into one of the following transaction types (see Definitions):
 
U.S. Registered Public Offering[Issuer must have 3 years of continuous operations]
 
Eligible Rule 144A Offering[Issuer must have 3 years of continuous operations]
 
Eligible Municipal Securities[Issuer must have 3 years of continuous operations]
 
Eligible Foreign Offering[Issuer must have 3 years of continuous operations]
 
Government Securities Offering
 
Timing and Price (check ONE or BOTH)
 
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)
  YES
  NO
The securities were offered pursuant to an underwriting or similar 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)
  YES
  NO
No affiliated underwriter was a direct or indirect participant in, or benefited directly or indirectly from, the transaction.



Completed by:
  Eileen Rodriguez
Date:
10/06/13
       
Approved by:
Steven DeLaura
Date:
10/06/13
       

 

 
 

 
 
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 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)
Eligible Municipal Securities
The securities 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.
(a)with respect to ratings, the securities
(1)have received an investment grade rating from at least one nationally recognized statistical rating organization (“NRSRO”); or
(2)have received one of the three highest ratings from an NRSRO, if the issuer of the municipal securities, or the entity supplying the revenue 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.
(b) The purchases of municipal securities, if any, were not 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
U.S. Registered Public Offering.
The securities offered are registered under the Securities Act of 1933 that are being offered to the public.


 
 
 

EX-99.77O RULE 10F-3 4 nyc177o.htm Unassociated Document
 
 
 


 
Participating Funds
 
n U.S. Registered Funds (Name of Fund, Aladdin Ticker):
BlackRock National Municipal Fund of Blackrock Municipal Bond Fund, Inc. (BR-NATL)
BlackRock New York Municipal Income Trust II (BFY)
BlackRock New York Municipal Income Trust (BNY)
BlackRock New York Municipal Bond Trust (BQH)
BlackRock New York Municipal Fund of BlackRock Multi-State Municipal Series (BR-NY)
BlackRock New York Municipal Income Quality Trust (BSE)
BlackRock MuniHoldings New York Quality Fund, Inc. (MHN)
BlackRock MuniYield New York Quality Fund, Inc. (MYN)


 
The Offering
 
 
Key Characteristics (Complete ALL Fields)
Date of
Offering Commencement:
 
9/27/13
Security Type:
Municipal

Issuer
The City of New York -2014 Series D-D-1
Selling Underwriter
Siebert Branford Shank & Co., L.L.C.
Affiliated Underwriter(s)
 PNC Capital Markets LLC
 Other:       
List of Underwriter(s)
Siebert Brandford Shank & Co., Bank of America Merrill Lynch, Citigroup Global Markets Inc, Jefferies LLC, J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC, Barclays Capital Inc, Fidelity Capital Markets, Goldman Sachs & Co., Janney Montgomery Scott LLC, Lebenthal & Company LLC, Loop Capital Markets, M.R. Beal & Company, Ramirez & Co., Inc., Rice Financial Products Company, Roosevelt & Cross, Inc., PNC Capital Markets LLC, Southwest Securities Inc., Raymond James & Associates Inc., RBC Capital Markets, Wells Fargo Securities, Blaylock Robert Van LLC, Cabrera Capital Markets LLC, Drexel Hamilton LLC, TD Securities (USA) LLC
 
Transaction Details
Date of Purchase
9/27/13

Purchase Price/Share
(per share / % of par)
$108.114
$107.61
$106.118$106.843$106.526$105.553$104.44
Total Commission, Spread or Profit
0.432

1. Aggregate Principal Amount Purchased (a+b)
19,180,000
a.US Registered Funds
(Appendix attached with individual Fund/Client purchase)
14,000,000
b.Other BlackRock Clients
 
5,030,000
150,000 (PI)
 
2. Aggregate Principal Amount of Offering
 
300,000,000
Fund Ratio
[Divide Sum of #1 by #2]
Must be less than 0.25
(unless securities are Government Securities)
0.0639



 
 Page  of 2
 
 
 
Rule 10f-3 Report – Definitions
 

 
Legal Requirements
 
 
Offering Type (check ONE)
The securities fall into one of the following transaction types (see Definitions):
 
U.S. Registered Public Offering[Issuer must have 3 years of continuous operations]
 
Eligible Rule 144A Offering[Issuer must have 3 years of continuous operations]
 
Eligible Municipal Securities[Issuer must have 3 years of continuous operations]
 
Eligible Foreign Offering[Issuer must have 3 years of continuous operations]
 
Government Securities Offering
 
Timing and Price (check ONE or BOTH)
 
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)
  YES
  NO
The securities were offered pursuant to an underwriting or similar 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)
  YES
  NO
No affiliated underwriter was a direct or indirect participant in, or benefited directly or indirectly from, the transaction.



Completed by:
  Eileen Rodriguez
Date:
10/06/13
       
Approved by:
Steven DeLaura
Date:
10/06/13
       

 

 
 

 
 
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 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)
Eligible Municipal Securities
The securities 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.
(a)with respect to ratings, the securities
(1)have received an investment grade rating from at least one nationally recognized statistical rating organization (“NRSRO”); or
(2)have received one of the three highest ratings from an NRSRO, if the issuer of the municipal securities, or the entity supplying the revenue 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.
(b) The purchases of municipal securities, if any, were not 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
U.S. Registered Public Offering.
The securities offered are registered under the Securities Act of 1933 that are being offered to the public.


 
 
 

EX-99.77O RULE 10F-3 5 tri77o.htm Unassociated Document
 
 
 


 
Participating Funds
 
n U.S. Registered Funds (Name of Fund, Aladdin Ticker):
BlackRock New York Municipal Income Quality Trust  (BSE)
BlackRock MuniHoldings New York Quality Fund, Inc.  (MHN)
BlackRock MuniYield New York Quality Fund, Inc.  (MYN)
 
 
The Offering
 
 
Key Characteristics (Complete ALL Fields)
Date of
Offering Commencement:
01-31-2014
Security Type:
BND/MUNI

Issuer
Triborough Bridge and Tunnel Authority (MTA Bridges & Tunnels)  General Revenue Bonds, Series 2014A
Selling Underwriter
Merrill Lynch, Pierce, Fenner & Smith Incorporated
Affiliated Underwriter(s)
 PNC Capital Markets LLC
 Other:
List of Underwriter(s)
Bank of America Merrill Lynch, Cabrera Capital Markets, LLC, Citigroup Global Markets Inc, Goldman, Sachs & Co., J.P. Morgan Securities LLC, Jefferies LLC, Loop Capital Markets, Morgan Stanley & Co. LLC, Ramirez & Co., Inc., RBC Capital Markets, Siebert Brandford Shank & Co., Wells Fargo Securities, Barclays Capital Inc., M.R. Beal & Company, BNYMellon Capital Markets, CastleOak Securities, L.P., Duncan-Williams, Inc., Estrada Hinojosa & Company, Fidelity Capital Markets, Janney Montgomery Scott LLC, KeyBanc Capital Markets, Lebenthal & Company LLC, M&T Securities, Inc., Mesirow Financial Inc., Oppenheimer & Co., Piper Jaffray, PNC Capital Markets LLC, Raymond James & Associates, Inc., Rice Financial Products Company, Roosevelt & Cross, Inc., Stern Brothers & Co., Stifel, Nicolaus & Company, Inc., TD Securities (USA) LLC, U.S. Bancorp Investments Inc., Williams Capital Group L.P.
 
 
Transaction Details
Date of Purchase
01-31-2014

Purchase Price/Share
(per share / % of par)
$96.054
Total Commission, Spread or Profit
0.483771

1. Aggregate Principal Amount Purchased (a+b)
$12,370,000
a.US Registered Funds
(Appendix attached with individual Fund/Client purchase)
$9,675,000
b.Other BlackRock Clients
2,695,000 (PI)
 
2. Aggregate Principal Amount of Offering
 
$250,000,000
Fund Ratio
[Divide Sum of #1 by #2]
Must be less than 0.25
(unless securities are Government Securities)
0.049



 
 Page  of 2
 
 
 
Rule 10f-3 Report – Definitions
 

 
Legal Requirements
 
 
Offering Type (check ONE)
The securities fall into one of the following transaction types (see Definitions):
 
U.S. Registered Public Offering[Issuer must have 3 years of continuous operations]
 
Eligible Rule 144A Offering[Issuer must have 3 years of continuous operations]
 
Eligible Municipal Securities[Issuer must have 3 years of continuous operations]
 
Eligible Foreign Offering[Issuer must have 3 years of continuous operations]
 
Government Securities Offering
 
Timing and Price (check ONE or BOTH)
 
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)
  YES
  NO
The securities were offered pursuant to an underwriting or similar 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)
  YES
  NO
No affiliated underwriter was a direct or indirect participant in, or benefited directly or indirectly from, the transaction.



Completed by:
Dillip Behera
Date:
02-05-2014
 
Global Syndicate Team Member
 
 
    
Approved by:
Steven DeLaura
Date:
02-05-2014
 
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 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)
Eligible Municipal Securities
The securities 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.
(a)with respect to ratings, the securities
(1)have received an investment grade rating from at least one nationally recognized statistical rating organization (“NRSRO”); or
(2)have received one of the three highest ratings from an NRSRO, if the issuer of the municipal securities, or the entity supplying the revenue 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.
(b) The purchases of municipal securities, if any, were not 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
U.S. Registered Public Offering.
The securities offered are registered under the Securities Act of 1933 that are being offered to the public.