Issuer
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BlackRock TCP Capital Corp. (“TCPC”)
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Security
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2.850% Notes due 2026
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Aggregate Principal Amount Offered
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$150,000,000
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Series of Notes
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The Notes are a further issuance of the $175,000,000 aggregate principal amount of 2.850% Notes due 2026 that TCPC issued on February 9, 2021 (the “Existing 2026 Notes”). The Notes will be treated as a single
series with the Existing 2026 Notes under the indenture and will have the same terms as the Existing 2026 Notes. The Notes offered hereby will have the same CUSIP number and will be fungible and rank equally with the Existing 2026 Notes.
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Maturity
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February 9, 2026, unless earlier repurchased or redeemed
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Trade Date
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August 18, 2021
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Price to Public (Issue Price)
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101.543% plus accrued and unpaid interest from August 9, 2021 up to, but not including, the date of delivery
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Aggregate Accrued Interest
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$213,750 of accrued and unpaid interest from August 9, 2021 up to, but not including, the date of delivery
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Coupon (Interest Rate)
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2.850% per year
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Yield to Maturity
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2.475%
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Spread to Benchmark Treasury
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T+170 basis points
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Benchmark Treasury
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0.625% UST due July 31, 2026
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Benchmark Treasury Price and Yield
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99-08 ¾ / 0.775%
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Interest Payment Dates
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February 9 and August 9, commencing February 9, 2022
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Make-Whole Redemption
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Equal to the greater of the following amounts, plus, in each case, accrued and unpaid interest to the redemption date:
- 100% of the principal amount of the notes to be redeemed, or
- the sum of the present values of the remaining scheduled payments of principal and interest (exclusive of accrued and unpaid interest to the date of redemption) on the notes to be redeemed, discounted to the
redemption date on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) using the applicable Treasury Rate plus 40 basis points, plus, in each case, accrued and unpaid interest to the redemption date.
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Change of Control
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Holders have the right to require TCPC to repurchase the notes at 100% of their principal amount plus accrued and unpaid interest to, but not including, the repurchase date, if any, in the event of a change of
control repurchase event.
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Settlement Date
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August 27, 2021 (T+7)
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Denomination
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$2,000 and integral multiples of $1,000 in excess thereof
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CUSIP
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09259E AB4
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ISIN
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US09259EAB48
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Joint Book-Running Managers
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BofA Securities, Inc., Morgan Stanley & Co. LLC and SMBC Nikko Securities America, Inc.
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Bookrunners
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Fifth Third Securities, Inc., ING Financial Markets LLC, MUFG Securities Americas Inc., RBC Capital Markets, LLC and R. Seelaus & Co., LLC
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