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BlackRock credit strategies fund

Credit without boundaries

Dynamically allocating across the full credit spectrum to seek opportunities for total returns. Learn how a blended portfolio can help navigate fluctuating markets through BlackRock’s Credit Strategies Fund (CREDX).

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Access investments across the credit spectrum

Navigate fluctuating credit markets through BlackRock Credit Strategies Fund (CREDX).

Full credit spectrum

Access differentiated sources of return by investing in tactical, opportunistic, and potential yield enhancing credit opportunities

Familiar features

Provides 1099 tax reporting and offers shares for purchase daily as an interval fund.¹ No subscription documents and no performance fee.

BlackRock edge

Access our differentiated sourcing, underwriting, and management capabilities backed by BlackRock’s $84B private debt business.²

9.28%

Distribution rate³

$8.59

NAV per share

$514

AUM (mm)

Source: BlackRock as of 02/29/2024 unless otherwise noted.

Navigating greater uncertainty

We believe more dispersion is ahead and that credit selection will grow in importance and drive more differentiated outcomes. Taking advantage of opportunities across the credit spectrum, in our view, creates more significant investment opportunities.

CREDX resources

Fact sheet Fact sheet

Private credit 101 Private credit 101

Investor guide Investor guide

Credit portfolios are evolving

An alternative approach invested across the credit spectrum may help manage the effects of asset class volatility, while potentially enhancing overall yield and returns versus traditional fixed income funds. CREDX investments generally fall into three strategies that work together to potentially optimize income and return.

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¹ Source: BlackRock 01/31/2024. See “Closed-End Interval Fund; Illiquidity of Shares” and “Repurchase Offers Risk” in the prospectus. The Shares are not listed on any securities exchange, and the Fund does not expect any secondary market to develop for the Shares. The Fund is designed for long-term investors and an investment in the Shares, unlike an investment in a traditional listed closed-end fund, should be considered illiquid. Investors should consider their investment goals, time horizons and risk tolerance before investing in the Fund.

²Source: BlackRock as of 02/29/24.

³BlackRock. Data as of 02/29/24 and subject to change. Past performance is no guarantee of future results. Distribution rate for the institutional share class (CREDX). Distribution rate is calculated by annualizing the most recent distribution per share and dividing by the net asset value. The distribution rate is net of applicable servicing fees. Dividends and distributions may be uncertain. Distributions are not guaranteed and may be funded through sources other than cash flow. For the Fund’s current fiscal year through February 29, 2024, 100% of the distributions have been funded from cash flows from operations. A past record of distributions may not be indicative of future returns. Please refer to https://www.blackrock.com/us/individual/education/mutual-funds/section-19-notices, for Section 19 notices that provide estimated amounts and sources of the Fund’s distributions. Section 19 notices should not be relied upon for tax reporting purposes.The amounts and sources of distributions reported in Section 19 Notices are only estimates and are not being provided for tax reporting purposes. The Fund will send you a Form 1099-DIV for the calendar year that will tell you how to report these distributions for federal income tax purposes.

Performance data quoted represents past performance and is no guarantee of future results. Investment returns and principal values may fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. All returns assume reinvestment of dividends and capital gains. Current performance may be lower or higher than that shown. Refer to blackrock.com for most recent month-end performance.

Investing involves risks, including possible loss of principal.

You should consider the Fund’s investment objectives, risks, charges and expenses carefully before investing. The prospectus contains more complete information about the Fund and should be read and considered carefully before investing. Copies of the Fund’s prospectus may be obtained by calling 800-882-0052

An interval fund provides liquidity through periodic repurchase offers, for instance, quarterly (not daily). Interval funds are designed for long-term investors and, unlike an investment in a traditional listed closed-end fund, should be considered illiquid. Investors should consider their investment goals, time horizon and risk tolerance before investing.

The information provided here is neither tax nor legal advice. Investors should speak to their tax professional for specific information regarding their tax situation. Investment involves risk including possible loss of principal. International investing involves risks, including risks related to foreign currency, limited liquidity, less government regulation, and the possibility of substantial volatility due to adverse political, economic or other developments. These risks are often heightened for investments in emerging/developing markets or smaller capital markets.

The Fund does not intend to list its shares on any securities exchange, and the Fund does not expect any secondary market to develop for the shares. The Fund is designed for long-term investors and an investment in the shares, unlike an investment in a traditional listed closed-end fund, should be considered illiquid. Investors should consider their investment goals, time horizons and risk tolerance before investing in the Fund.

Important Risks: While the amount of the Fund’s net assets allocated to private investments may vary over time, BlackRock Advisors, LLC (the “Advisor”) anticipates allocating 30-50% of the Fund’s net assets to these types of investments. See “Risks—Principal Risks—Competition for Investment Opportunities”, and “Risks—Principal Risks—Valuation Risks” and “Net Asset Value” in the prospectus. Some or all of the Fund's private credit investments will be managed by BlackRock Capital Investment Advisors, LLC (“BCIA”). The Fund has received exemptive relief from the SEC which permits the portion of private credit investments managed by BCIA to co-invest in certain transactions alongside affiliated investment funds advised or sub-advised by BCIA or its controlled subsidiaries. The fund will rely on this relief. The portion of the Fund not managed by BCIA will not be able to rely on the exemptive relief and may at all times invest in private credit investments only as permitted by existing regulatory guidance.

BlackRock is not making any recommendation or soliciting any action based upon the information contained herein. This information is furnished to you with the express understanding that it does not constitute: (i) an offer, solicitation or recommendation to invest in a particular investment in any jurisdiction; (ii) a means by which any such investment may be offered or sold; or (iii) advice or an expression of BlackRock’s view as to whether a particular investment is appropriate for you and meets your financial objectives.

An investment in the Fund involves a high degree of risk and should be considered speculative. You could lose some or all of your investment.

There can be no assurance that the Fund’s investment objective will be achieved or that the Fund’s investment program will be successful.

The Fund may invest, without limitation, in debt securities that are rated, at the time of investment, below investment grade quality, which are commonly referred to as “high yield” or “junk” bonds and are regarded as predominantly speculative with respect to issuer’s capacity to pay interest and repay principal.

The Fund intends to use leverage. The use of leverage is subject to numerous risks. Changes in the value of the Fund’s portfolio, including securities bought with the proceeds of leverage, will be borne entirely by the Fund’s common shareholders. When leverage is employed, the net asset value and the yield to holders of common shares will be more volatile than if leverage was not used. The Fund cannot assure you that the use of leverage will result in a higher yield on the common shares.

Not FDIC Insured | May Lose Value | No Bank Guarantee

Distributed by BlackRock Investments LLC, member FINRA.

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