- Notice by closed-end investment companies of intention to call or redeem their own securities (N-23C-2)

 

 

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, DC 20549

 

RULE 23C-2 NOTICE OF INTENTION TO REDEEM SECURITIES

 

of

 

BlackRock Credit Allocation Income Trust III

100 Bellevue Parkway

Wilmington, DE 19809

[phone]

 

under the

 

Investment Company Act of 1940

 

Investment Company Act File No. 811-21280

 

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1.	Title of the class of securities of BlackRock Credit Allocation Income Trust III (the " Fund ") to be redeemed:

 

Auction Market Preferred Shares, liquidation preference $25,000 per share, as identified by series and CUSIP in Annex A hereto (the " Shares ").

 

2.	The date on which the securities are to be called or redeemed:

 

See Annex A for the dates on which Shares of each series are to be redeemed (the " Redemption Date ").

 

3.	The applicable provisions of the governing instrument pursuant to which the securities are to be called or redeemed:

 

The Shares are to be redeemed pursuant to Section 10(a) of the Fund's Statement of Preferences.

 

4.	The principal amount or number of shares and the basis upon which the securities to be redeemed are to be selected:

 

The Fund intends to redeem all outstanding Shares.

 

 

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SIGNATURE

Pursuant to the requirement of Rule 23c-2 of the Investment Company Act of 1940, the Fund has duly caused this Notice of Intention to Redeem Securities to be signed on its behalf by the undersigned on this 16th day of November, 2010.

	BLACKROCK CREDIT ALLOCATION INCOME TRUST III
	By:	/s/ Neal J. Andrews
	Name:	Neal J. Andrews
	Title:	Chief Financial Officer

 

 

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Annex A

Series	CUSIP	Redemption Date	Total Shares to be Redeemed	Aggregate Principal Amount to be Redeemed
T7	09249V202	December 8, 2010	939	$23,475,000
W7	09249V301	December 9, 2010	939	$23,475,000
R7	09249V400	December 10, 2010	939	$23,475,000