Issuer | BlackRock TCP Capital Corp. (“TCPC”) |
Security | 3.900% Notes due 2024 |
Aggregate Principal Amount Offered | $50,000,000 |
Series of Notes | The Notes are a further issuance of the 3.900% Notes due 2024 that TCPC issued on August 23, 2019 in the aggregate principal amount of $150,000,000 (the “Existing 2024 Notes”). The Notes will be treated as a single series with the Existing 2024 Notes under the indenture and will have the same terms as the Existing 2024 Notes. The Notes offered hereby will have the same CUSIP number and will be fungible and rank equally with the Existing 2024 Notes. |
Maturity | August 23, 2024, unless earlier repurchased or redeemed |
Trade Date | November 19, 2019 |
Price to Public (Issue Price) | 99.035 % plus accrued and unpaid interest from August 23, 2019 up to, but not including, the date of delivery |
Aggregate Accrued Interest | $503,750 of accrued and unpaid interest from August 23, 2019 up to, but not including, the date of delivery. |
Coupon (Interest Rate) | 3.900% per year |
Yield to Maturity | 4.125 % |
Spread to Benchmark Treasury | T+250 basis points |
Benchmark Treasury | 1.500% UST due October 31, 2024 |
Benchmark Treasury Price and Yield | 99-13 / 1.625 % |
Interest Payment Dates | February 23 and August 23, commencing February 23, 2020 |
Make-Whole Redemption | 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 45 basis points, plus, in each case, accrued and unpaid interest to the redemption date. |
Change of Control | 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. |
Settlement Date | November 26, 2019 (T+5) |
Denomination | $2,000 and integral multiples of $1,000 in excess thereof |
CUSIP | 09259E AA6 |
ISIN | US09259EAA64 |
Sole Book-Running Manager | BofA Securities, Inc. |
Co-Manager | Keefe, Bruyette & Woods, Inc. |
The following summary of certain U.S. federal income tax considerations supplements the discussion set forth under the heading “U.S. Federal Income Tax Matters” in the accompanying Preliminary Prospectus and is subject to the qualifications and assumptions set forth therein.
The Notes are not being issued at a price that gives rise to market discount or amortizable bond premium for U.S. federal income tax purposes. Accordingly, the discussion of such matters set forth under the heading “U.S. Federal Income Tax Matters” in the accompanying Preliminary Prospectus will not apply to holders of the Notes. All holders are urged to consult their own tax advisors regarding their particular circumstances.