On January 17, 2020, Saba Capital Management, L.P. announced that it has submitted to BlackRock New York Municipal Bond Trust a proposal pursuant to rule 14a-8 promulgated under the Securities Exchange Act of 1934, as amended and the proposal requests that the Board of Trustees of the Company consider authorizing a self-tender offer for all outstanding shares of the Company at or close to net asset value. Saba Capital stated that the proposal further states that, if more than 50% of the Company’s outstanding shares are submitted for tender, the tender offer should be cancelled and the Company should be liquidated or converted into an open-end mutual fund.