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ML Depositor PPLUS Trust 7.00% Sprint Capital Certificates SPR-1
Ticker Symbol: PYG* CUSIP: 73941X817 Exchange: NYSE
* NOTE: This security is no longer trading as of 9/03/2013
QUANTUMONLINE.COM SECURITY DESCRIPTION: Merrill Lynch Depositor Inc., PPLUS Class A, 7.00% Trust Certificates, PPLUS Trust Series SPR-1, stated amount $25 per certificate, underlying securities are the 6.875% Notes due 11/15/2028, issued by Sprint Capital Corp., a subsidiary of Sprint Corp. (NYSE: FON), redeemable on or after 11/15/2008 under the call warrants at $25 plus accrued and unpaid interest, distributions of 7.00% ($1.75) per annum are paid semi-annually on 5/15 & 11/15 to holders of record on the business day immediately prior to the payment date. Ratings of the certificates at the IPO are BBB- by S&P and Baa3 by Moody’s. See the IPO prospectus for further information on the PPLUS Certificates and the call warrant provisions by clicking on the ‘Link to IPO Prospectus’ provided below.
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Go to Parent Company's Record (S*)
Notes: Notice Of Termination Of Trust To The Certificate Holders Of PPLUS Trust Series SPR-1 Certificates (CUSIP No. 73941X817)*
SOURCE The Bank of New York Mellon, as Trustee. Aug. 26, 2013 -- NOTICE IS HEREBY GIVEN that, pursuant to the terms of the Series Supplement dated November 28, 2003, which incorporates the terms of the Standard Terms for Trust Agreements, dated as of February 20, 1998, between Merrill Lynch Depositor, Inc., as Depositor and The Bank of New York Mellon, as Trustee, the Trustee has not received a notice of exercise from the holder of the warrants to purchase the outstanding PPLUS Trust Series SPR-1. Under the terms of the Trust Agreement, if the Call Warrant Holder chooses not to exercise the Call Warrants within 10 days after notice is given, the Trustee will distribute a principal amount of Underlying Securities equal to the stated amount of outstanding Trust Certificates and a pro rata portion of the Related Assets to each Certificateholder's last address as it appears in the Certificate Register. The Trustee will immediately direct the Market Agent to sell all Underlying Securities not so distributed and a pro rata portion of the Related Assets held by the Trust, and any liquidation proceeds shall be deposited into the Certificate Account for distribution to Certificateholders. The Underlying Securities and the proceeds will be distributed on or about September 3, 2013. To receive this distribution, you must surrender your Securities to the Trustee at the following address:
By Mail or Hand Delivery
The Bank of New York Mellon
111 Sanders Creek Parkway
East Syracuse, New York 13057
Attn: Debt Processing Group
The method of delivery of the Securities to the Trustee is at your option and risk, but, if mail is used, registered mail is suggested. The distribution will be remitted promptly following the receipt of the Securities by the Trustee. Withholding of 28% of gross redemption proceeds of any payment made within the United States may be required by the Jobs and Growth Tax Relief Reconciliation Act of 2003 (the "Act"), unless the Trustee has the correct taxpayer identification number (social security or employer identification number) or exemption certificate of the payee. Certificateholders of the Securities who have questions or wish to discuss this notice may contact The Bank of New York Mellon, 101 Barclay Street, New York, New York 10286, Bondholder Relations (800) 254-2826. ____________ On August 26, 2013 The Bank of New York Mellon, as Trustee for the PPLUS Trust Series SPR-1 Trust (the Trust), issued a press release regarding the termination of the Trust. The Trustee gave notice that it had not received a notice of exercise from the holder of the warrants to purchase the outstanding PPLUS Trust Series SPR-1 (the Securities). Under the terms of the Trust Agreement, if the Call Warrant Holder chooses not to exercise the Call Warrants within 10 days after notice is given, distributions will be made to the holders of the Certificates on or about September 3, 2013.
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IPO - 11/28/2003 - 1.00 Million Certificates @ $25.00/cert.
Link to IPO Prospectus
Market Value $42.5 Million
Company's Online Information Links
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HOME PAGE:
http://www.ml.com/
(This parent company URL is for reference only and does not have specific information on the security.)
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Company's Online SEC EDGAR Filings |
Address and Phone Numbers |
Address: World Financial Center, North Tower, New York, NY 10281 |
Main Phone Number |
212-449-1000 |
Fax Number |
Not Available |
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