UBS Group AG — Director's Dealing 2016

Oct 28, 2016

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: BLACKROCK MUNICIPAL 2020 TERM TRUST (BKK)
CIK: 0001181250
Period of Report: 2016-10-27

Reporting Person: UBS Group AG (10% Owner)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2016-10-27	Auction Preferred Stock	J	58	—	Disposed	636	Indirect

Footnotes

F1: This Statement is filed jointly by UBS Group AG for the benefit and on behalf of UBS Securities LLC and UBS Financial Services Inc., two wholly owned subsidiaries of UBS Group AG to which UBS Group AG has delegated portions of its performance obligations with respect to the Auction Rate Securities Rights issued by UBS Group AG to certain clients and pursuant to which the securities reported herein have been purchased from such clients.

F2: This filing reports holdings of the Series of Auction Preferred Stock identified in Item 1 of this Table I on an aggregated basis.

F3: At Par

F4: (Cusip Nos 09249X208, 09249X307, 09249X406)