BlackRock Florida Municipal 2020 Term Trust (the Trust) is a non-diversified, closed-end management investment company. The Trust's investment objectives are to provide current income exempt from regular federal income tax and Florida intangible personal property tax. The Trust invests at least 80% of its assets in municipal bonds exempt from federal income taxes and Florida intangible personal property tax. The Trust invests at least 80% of its assets in municipal bonds that are investment grade quality at the time of investment. The Trust actively manages the maturity of its bonds to seek to have a dollar weighted average effective maturity approximately equal to the Trust's maturity date. The Trust may invest directly in such securities or synthetically through the use of derivatives. BlackRock Advisors, LLC is the Trust's investment advisor. Its sub-advisor is BlackRock Financial Management, Inc.