<SEC-DOCUMENT>0001193125-23-141022.txt : 20230511
<SEC-HEADER>0001193125-23-141022.hdr.sgml : 20230511
<ACCEPTANCE-DATETIME>20230510202540
ACCESSION NUMBER:		0001193125-23-141022
CONFORMED SUBMISSION TYPE:	424B3
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20230511
DATE AS OF CHANGE:		20230510

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			BLACKROCK DEBT STRATEGIES FUND, INC.
		CENTRAL INDEX KEY:			0001051003
		IRS NUMBER:				223564108
		STATE OF INCORPORATION:			MD
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		424B3
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	333-267429
		FILM NUMBER:		23908456

	BUSINESS ADDRESS:	
		STREET 1:		100 BELLEVUE PARKWAY
		CITY:			WILMINGTON
		STATE:			DE
		ZIP:			19809
		BUSINESS PHONE:		800-441-7762

	MAIL ADDRESS:	
		STREET 1:		100 BELLEVUE PARKWAY
		CITY:			WILMINGTON
		STATE:			DE
		ZIP:			19809

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	BLACKROCK DEBT STRATEGIES FUND
		DATE OF NAME CHANGE:	20070611

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	DEBT STRATEGIES FUND
		DATE OF NAME CHANGE:	20030428

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	DEBT STRATEGIES FUND II INC
		DATE OF NAME CHANGE:	19971208
</SEC-HEADER>
<DOCUMENT>
<TYPE>424B3
<SEQUENCE>1
<FILENAME>d420991d424b3.htm
<DESCRIPTION>BLACKROCK DEBT STRATEGIES FUND, INC.
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<TITLE>BLACKROCK DEBT STRATEGIES FUND, INC.</TITLE>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right">Filed Pursuant to Rule 424(b)(3)<BR>Registration File No.: 333-267429 </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>BLACKROCK DEBT STRATEGIES FUND, INC. </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Supplement dated May&nbsp;10, 2023 to the Prospectus </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>dated December&nbsp;28, 2022, as supplemented on January&nbsp;3, 2023 and March&nbsp;3, 2023 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">This supplement amends certain information in the Prospectus dated December&nbsp;28, 2022, as supplemented on January&nbsp;3, 2023 and March&nbsp;3, 2023, of
BlackRock Debt Strategies Fund, Inc. (the &#147;Fund&#148;). Unless otherwise indicated, all other information included in the Prospectus that is not inconsistent with the information set forth in this supplement remains unchanged. Capitalized terms
not otherwise defined in this supplement have the same meanings as in the Prospectus. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Effective on or about May&nbsp;31, 2023, the following changes
are made to the Fund&#146;s Prospectus: </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><I>The section of the Prospectus entitled &#147;Management of the Fund &#150; Portfolio Managers&#148; is
deleted in its entirety and replaced with the following: </I></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Portfolio Managers </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The members of the portfolio management team who are primarily responsible for the
<FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">day-to-day</FONT></FONT> management of the Fund&#146;s portfolio are as follows: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><I>David Delbos,</I>&nbsp;Managing Director, is the <FONT STYLE="white-space:nowrap">Co-Head</FONT> of U.S. High Yield within BlackRock&#146;s Global Credit
team. He is also responsible for managing Global High Yield strategies. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Mr.&nbsp;Delbos joined BlackRock in 2002 as a credit research analyst in the
Leveraged Finance Group. He transitioned to a portfolio management role in 2012. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Prior to joining the Leveraged Finance team at BlackRock in 2002,
Mr.&nbsp;Delbos was an analyst at Deutsche Bank Securities Inc. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><I>Mitchell Garfin</I>, CFA, Managing Director, is the
<FONT STYLE="white-space:nowrap">Co-Head</FONT> of Leveraged Finance within BlackRock&#146;s Global Credit team. He is responsible for managing US High Yield and Global strategies. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Mr.&nbsp;Garfin joined BlackRock in 1997 as an analyst in the Account Management Group working with taxable financial institutional clients. He joined the
Portfolio Management Group in 2000 as a credit research analyst and in 2005 moved to portfolio management. Mr.&nbsp;Garfin moved to his current role in 2007 and serves as Head of the Global Credit Human Capital Committee. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Mr.&nbsp;Garfin earned a BA degree, with distinction, in finance from the University of Michigan in 1997, and an MBA degree in finance and economics from New
York University in 2005. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><I>Carly Wilson</I>, Managing Director, is a Portfolio Manager on Global Long Short Credit, a US mutual fund investing across
the global credit spectrum, with an emphasis on Global High Yield, Leveraged Loans, and Investment Grade. She specifically focuses on global asset allocation and cross market relative value, as well as single name alpha generation and risk
budgeting. In this role, Ms. Wilson invests long and short in many global markets &#151; including credit, rates and equities, in both cash and derivatives. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Prior to this, Ms. Wilson was a Portfolio Manager on leveraged loan funds, including mutual funds, separate accounts and CLOs. In this role, she focused on
both single name and sector selection, as well as fund level risk management. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Earlier, Ms. Wilson worked at R3 Capital, a multi-strategy hedge fund.
There, she had a focus on leveraged loans. She also previously worked at Lehman in Global Principal Strategies, as part of the capital structure arbitrage investment team. She began her career at Lehman in equity trading. </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Ms. Wilson graduated from the University of Pennsylvania&#146;s Wharton School, with Concentrations in Finance
and Marketing. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The SAI provides additional information about each portfolio manager&#146;s compensation, other accounts managed by the portfolio
management team and the ownership of the Fund&#146;s securities by each portfolio manager. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">- 2 - </P>

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