Fund Description: BlackRock Credit Allocation Income Trust, formerly the BlackRock Credit Allocation Income Trust IV, formerly the BlackRock Preferred and Equity Advantage Trust, is an exchange-traded closed-end fund or a closed-end ETF which is officially described as a non-diversified, closed-end management investment company. INVESTMENT OBJECTIVE: The BlackRock Credit Allocation Income Trust seeks to provide current income, current gains and capital appreciation. TRUST STRATEGY: The Trust, under normal market conditions, will invest at least 80% its total assets in credit-related securities, including, but not limited to, investment grade corporate bonds, high yield bonds, bank loans, preferred securities or convertible bonds or derivatives with economic characteristics similar to these credit-related securities. TRUST MANAGEMENT: BlackRock Advisors, LLC serves as the Trust’s investment advisor. BlackRock Financial Management, Inc. serves as the Trust's sub-advisor.