Bank of America's Purchase of VRDP Shares in BlackRock 2037 Municipal Target Term Trust

Bank of America Corporation (BAC) and Banc of America Preferred Funding Corporation (BAPFC) have filed a Schedule 13D with the SEC regarding the purchase of 500 Variable Rate Demand Preferred Shares (VRDP Shares) of BlackRock 2037 Municipal Target Term Trust. The shares were purchased for $50,000,000 using the working capital of the Reporting Persons. BAPFC acquired the VRDP Shares for investment purposes and has not acquired them with the intent to influence control of the issuer. The VRDP Shares come with certain voting rights assigned to a Voting Trust, and BAPFC retains other voting and consent rights. The filing includes details of the Voting Trust Agreement, VRDP Shares Purchase Agreement, and other related agreements.