BlackRock Advisors, LLC announced today that The BlackRock New
Jersey Investment Quality Municipal Trust, Inc. (NYSE Amex: RNJ)
and The BlackRock New York Investment Quality Municipal Trust, Inc.
(NYSE Amex: RNY) will each redeem all of its issued and outstanding
auction rate municipal preferred stock.
The redemptions announced today are occurring in connection with
RNJ and RNY’s shareholder-approved liquidations (as announced on
June 28, 2012) and will be conducted at liquidation preference of
$25,000 per share, together with accrued and unpaid dividends
thereon to the redemption date, if any.
Please see redemption details below.
The BlackRock New Jersey Investment Quality Municipal Trust,
Inc. (NYSE Amex:RNJ)
Series CUSIP
RedemptionDate
Total Shares tobe
Redeemed
Aggregate Amount tobe
Redeemed
T7 09247C206 July 25, 2012 276
$6,900,000
The BlackRock New York Investment Quality Municipal Trust, Inc.
(NYSE Amex:RNY)
Series CUSIP
RedemptionDate
Total Shares tobe
Redeemed
Aggregate Amount tobe
Redeemed
F7 09247E202 July 23, 2012 389
$9,725,000
About BlackRock
BlackRock is a leader in investment management, risk management
and advisory services for institutional and retail clients
worldwide. At March 31, 2012, BlackRock’s AUM was $3.684 trillion.
BlackRock offers products that span the risk spectrum to meet
clients’ needs, including active, enhanced and index strategies
across markets and asset classes. Products are offered in a variety
of structures including separate accounts, mutual funds, iShares®
(exchange-traded funds), and other pooled investment vehicles.
BlackRock also offers risk management, advisory and enterprise
investment system services to a broad base of institutional
investors through BlackRock Solutions®. Headquartered in New York
City, as of March 31, 2012, the firm has approximately 9,900
employees in 27 countries and a major presence in key global
markets, including North and South America, Europe, Asia,
Australia, and the Middle East and Africa. For additional
information, please visit BlackRock’s website at
www.blackrock.com.
Forward-Looking Statements
This press release, and other statements that BlackRock or the
Funds may make, may contain forward-looking statements within the
meaning of the Private Securities Litigation Reform Act, with
respect to the Funds or BlackRock’s future financial or business
performance, strategies or expectations. Forward-looking statements
are typically identified by words or phrases such as “trend,”
“potential,” “opportunity,” “pipeline,” “believe,” “comfortable,”
“expect,” “anticipate,” “current,” “intention,” “estimate,”
“position,” “assume,” “outlook,” “continue,” “remain,” “maintain,”
“sustain,” “seek,” “achieve,” and similar expressions, or future or
conditional verbs such as “will,” “would,” “should,” “could,” “may”
or similar expressions.
BlackRock cautions that forward-looking statements are subject
to numerous assumptions, risks and uncertainties, which change over
time. Forward-looking statements speak only as of the date they are
made, and BlackRock assumes no duty to and does not undertake to
update forward-looking statements. Actual results could differ
materially from those anticipated in forward-looking statements and
future results could differ materially from historical
performance.
With respect to the Funds, the following factors, among others,
could cause actual events to differ materially from forward-looking
statements or historical performance: (1) changes and volatility in
political, economic or industry conditions, the interest rate
environment, foreign exchange rates or financial and capital
markets, which could result in changes in demand for a fund or in a
fund’s net asset value; (2) the relative and absolute investment
performance of the fund and its investments; (3) the impact of
increased competition; (4) the unfavorable resolution of any legal
proceedings; (5) the extent and timing of any distributions or
share repurchases; (6) the impact, extent and timing of
technological changes; (7) the impact of legislative and regulatory
actions and reforms, including the Dodd-Frank Wall Street Reform
and Consumer Protection Act, and regulatory, supervisory or
enforcement actions of government agencies relating to the fund or
BlackRock, as applicable; (8) terrorist activities, international
hostilities and natural disasters, which may adversely affect the
general economy, domestic and local financial and capital markets,
specific industries or BlackRock; (9) BlackRock’s ability to
attract and retain highly talented professionals; (10) the impact
of BlackRock electing to provide support to its products from time
to time; and (11) the impact of problems at other financial
institutions or the failure or negative performance of products at
other financial institutions.
Annual and Semi-Annual Reports and other regulatory filings of
the Funds with the Securities and Exchange Commission (“SEC”) are
accessible on the SEC's website at www.sec.gov and on
BlackRock’s website at www.blackrock.com, and may discuss
these or other factors that affect RFA. The information contained
on BlackRock’s website is not a part of this press release.
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