<SEC-DOCUMENT>0001174947-11-000217.txt : 20110524
<SEC-HEADER>0001174947-11-000217.hdr.sgml : 20110524
<ACCEPTANCE-DATETIME>20110524124335
ACCESSION NUMBER:		0001174947-11-000217
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20110516
ITEM INFORMATION:		Other Events
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20110524
DATE AS OF CHANGE:		20110524

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			PPLUS Trust Series GSC-2
		CENTRAL INDEX KEY:			0001294808
		STANDARD INDUSTRIAL CLASSIFICATION:	ASSET-BACKED SECURITIES [6189]
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-32247
		FILM NUMBER:		11867440

	BUSINESS ADDRESS:	
		STREET 1:		WORLD FINANCIAL CENTER
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10281
		BUSINESS PHONE:		2124491000
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>e43637-8k.htm
<DESCRIPTION>FORM 8-K
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<P style="TEXT-ALIGN: center">SECURITIES AND EXCHANGE COMMISSION<BR>
WASHINGTON, D. C. 20549<BR>
__________________________</P>
<P style="TEXT-ALIGN: center">FORM 8-K<BR>
<BR>
CURRENT REPORT<BR>
<BR>
Pursuant to Section 13 or 15(d) of<BR>
The Securities Exchange Act of 1934<BR>
_________________________</P>
<P style="TEXT-ALIGN: center">Date of Report (Date of earliest event reported): May 16, 2011<BR>
<BR>
<B>MERRILL LYNCH DEPOSITOR, INC.</B><BR>
<B>(on behalf of PPLUS TRUST SERIES GSC-2)</B><BR>
(Exact name of registrant as specified in its charter)</P>
<TABLE style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'" cellSpacing=0 width="100%" border=0>
  <TR>
    <TD width="39%"></TD>
    <TD width="27%"></TD>
    <TD width="32%"></TD>
  </TR>
  <TR align="center" vAlign=bottom>
    <TD><B><FONT size=2>Delaware</FONT></B></TD>
    <TD><B><FONT size=2>001-32247</FONT></B></TD>
    <TD><B><FONT size=2>13-3891329</FONT></B></TD>
  </TR>
  <TR align="center" vAlign=bottom>
    <TD><FONT size=2>(State or other</FONT></TD>
    <TD><FONT size=2>(Commission</FONT></TD>
    <TD><FONT size=2>(I. R. S. Employer</FONT></TD>
  </TR>
  <TR align="center" vAlign=bottom>
    <TD><FONT size=2>jurisdiction of</FONT></TD>
    <TD><FONT size=2>File Number)</FONT></TD>
    <TD><FONT size=2>Identification No.)</FONT></TD>
  </TR>
  <TR align="center" vAlign=bottom>
    <TD><FONT size=2>incorporation)</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
  </TR>
  <TR align="center">
    <TD colSpan=3>&nbsp;</TD>
  </TR>
  <TR align="center" vAlign=bottom>
    <TD><B><FONT size=2>World Financial Center,</FONT></B></TD>
    <TD>&nbsp;</TD>
    <TD><B><FONT size=2>10080</FONT></B></TD>
  </TR>
  <TR align="center" vAlign=bottom>
    <TD><B><FONT size=2>New York, New York</FONT></B></TD>
    <TD>&nbsp;</TD>
    <TD><FONT size=2>(Zip Code)</FONT></TD>
  </TR>
  <TR align="center" vAlign=bottom>
    <TD><FONT size=2>(Address of principal</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
  </TR>

  <TR align="center" vAlign=bottom>
    <TD><FONT size=2>executive offices)</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
  </TR>
</TABLE>
<P style="TEXT-ALIGN: center">_________________________</P>
<P style="TEXT-ALIGN: center">Registrant&#146;s telephone number, including area
  code: (212) 449-1000</P>
<P style="TEXT-ALIGN: center"><B>INFORMATION TO BE INCLUDED IN REPORT</B></P>
<P style="TEXT-ALIGN: justify">Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2.):</P>
<P style="TEXT-ALIGN: justify">[&nbsp;&nbsp;&nbsp;] Written communications pursuant
  to Rule 425 under the Securities Act (17 CFR 230.425)</P>
<P style="TEXT-ALIGN: justify">[&nbsp;&nbsp;&nbsp;] Soliciting material pursuant
  to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</P>
<P style="TEXT-ALIGN: justify">[&nbsp;&nbsp;&nbsp;] Pre-commencement communications
  pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</P>
<P style="TEXT-ALIGN: justify">[&nbsp;&nbsp;&nbsp;] Pre-commencement communications
  pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</P>
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  <TR>
    <TD></TD>
    <TD></TD>
    <TD></TD>
    <TD></TD>
  </TR>
  <TR vAlign=top>
    <TD align=left><B><FONT size=2>Section 1.</FONT></B></TD>
    <TD align=left>&nbsp;</TD>
    <TD colspan="2" align=left><B><FONT size=2>Registrant&#146;s Business and
      Operations</FONT></B></TD>
  </TR>
  <TR vAlign=top>
    <TD align=left>&nbsp;</TD>
    <TD align=left>&nbsp;</TD>
    <TD colspan="2" align=left>&nbsp;</TD>
  </TR>
  <TR vAlign=top>
    <TD align=left>&nbsp;</TD>
    <TD align=left>&nbsp;</TD>
    <TD colspan="2" align=left><FONT size=2>Not applicable.</FONT></TD>
  </TR>
  <TR vAlign=top>
    <TD align=left>&nbsp;</TD>
    <TD align=left>&nbsp;</TD>
    <TD colspan="2" align=left>&nbsp;</TD>
  </TR>
  <TR vAlign=top>
    <TD align=left><B><FONT size=2>Section 2.</FONT></B></TD>
    <TD align=left>&nbsp;</TD>
    <TD colspan="2" align=left><B><FONT size=2>Financial Information</FONT></B></TD>
  </TR>
  <TR vAlign=top>
    <TD align=left>&nbsp;</TD>
    <TD align=left>&nbsp;</TD>
    <TD colspan="2" align=left>&nbsp;</TD>
  </TR>
  <TR vAlign=top>
    <TD align=left>&nbsp;</TD>
    <TD align=left>&nbsp;</TD>
    <TD colspan="2" align=left><FONT size=2>Not applicable.</FONT></TD>
  </TR>
  <TR vAlign=top>
    <TD align=left>&nbsp;</TD>
    <TD align=left>&nbsp;</TD>
    <TD colspan="2" align=left>&nbsp;</TD>
  </TR>
  <TR vAlign=top>
    <TD align=left><B><FONT size=2>Section 3.</FONT></B></TD>
    <TD align=left>&nbsp;</TD>
    <TD colspan="2" align=left><B><FONT size=2>Securities and Trading Markets</FONT></B></TD>
  </TR>
  <TR vAlign=top>
    <TD align=left>&nbsp;</TD>
    <TD align=left>&nbsp;</TD>
    <TD colspan="2" align=left>&nbsp;</TD>
  </TR>
  <TR vAlign=top>
    <TD align=left>&nbsp;</TD>
    <TD align=left>&nbsp;</TD>
    <TD colspan="2" align=left><FONT size=2>Not applicable.</FONT></TD>
  </TR>
  <TR vAlign=top>
    <TD align=left>&nbsp;</TD>
    <TD align=left>&nbsp;</TD>
    <TD colspan="2" align=left>&nbsp;</TD>
  </TR>
  <TR vAlign=top>
    <TD align=left><B><FONT size=2>Section 4.</FONT></B></TD>
    <TD align=left>&nbsp;</TD>
    <TD colspan="2" align=left><B><FONT size=2>Matters Related to Accountants
      and Financial Statements</FONT></B></TD>
  </TR>
  <TR vAlign=top>
    <TD align=left><B></B></TD>
    <TD align=left>&nbsp;</TD>
    <TD colspan="2" align=left>&nbsp;</TD>
  </TR>
  <TR vAlign=top>
    <TD align=left>&nbsp;</TD>
    <TD align=left>&nbsp;</TD>
    <TD colspan="2" align=left><FONT size=2>Not applicable.</FONT></TD>
  </TR>
  <TR vAlign=top>
    <TD align=left>&nbsp;</TD>
    <TD align=left>&nbsp;</TD>
    <TD colspan="2" align=left>&nbsp;</TD>
  </TR>
  <TR vAlign=top>
    <TD align=left><B><FONT size=2>Section 5.</FONT></B></TD>
    <TD align=left>&nbsp;</TD>
    <TD colspan="2" align=left><B><FONT size=2>Corporate Governance and Management</FONT></B></TD>
  </TR>
  <TR vAlign=top>
    <TD align=left>&nbsp;</TD>
    <TD align=left>&nbsp;</TD>
    <TD colspan="2" align=left>&nbsp;</TD>
  </TR>
  <TR vAlign=top>
    <TD align=left>&nbsp;</TD>
    <TD align=left>&nbsp;</TD>
    <TD colspan="2" align=left><FONT size=2>Not applicable.</FONT></TD>
  </TR>
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    <TD align=left>&nbsp;</TD>
    <TD align=left>&nbsp;</TD>
    <TD colspan="2" align=left>&nbsp;</TD>
  </TR>
  <TR vAlign=top>
    <TD align=left><B><FONT size=2>Section 6.</FONT></B></TD>
    <TD align=left>&nbsp;</TD>
    <TD colspan="2" align=left><B><FONT size=2>Asset-Backed Securities</FONT></B></TD>
  </TR>
  <TR vAlign=top>
    <TD align=left>&nbsp;</TD>
    <TD align=left>&nbsp;</TD>
    <TD colspan="2" align=left>&nbsp;</TD>
  </TR>
  <TR vAlign=top>
    <TD align=left>&nbsp;</TD>
    <TD align=left>&nbsp;</TD>
    <TD colspan="2" align=left><FONT size=2>Not applicable.</FONT></TD>
  </TR>
  <TR vAlign=top>
    <TD align=left>&nbsp;</TD>
    <TD align=left>&nbsp;</TD>
    <TD colspan="2" align=left>&nbsp;</TD>
  </TR>
  <TR vAlign=top>
    <TD align=left><B><FONT size=2>Section 7.</FONT></B></TD>
    <TD align=left>&nbsp;</TD>
    <TD colspan="2" align=left><B><FONT size=2>Regulation FD</FONT></B></TD>
  </TR>
  <TR vAlign=top>
    <TD align=left>&nbsp;</TD>
    <TD align=left>&nbsp;</TD>
    <TD colspan="2" align=left>&nbsp;</TD>
  </TR>
  <TR vAlign=top>
    <TD align=left>&nbsp;</TD>
    <TD align=left>&nbsp;</TD>
    <TD colspan="2" align=left><FONT size=2>Not applicable.</FONT></TD>
  </TR>
  <TR vAlign=top>
    <TD align=left>&nbsp;</TD>
    <TD align=left>&nbsp;</TD>
    <TD colspan="2" align=left>&nbsp;</TD>
  </TR>
  <TR vAlign=top>
    <TD align=left nowrap><B><FONT size=2>Section 8.&nbsp;&nbsp;&nbsp;</FONT></B></TD>
    <TD align=left>&nbsp;</TD>
    <TD colspan="2" align=left><B><FONT size=2>Other Events</FONT></B></TD>
  </TR>
  <TR vAlign=top>
    <TD align=left>&nbsp;</TD>
    <TD colspan="2" align=left>&nbsp;</TD>
    <TD align=left>&nbsp;</TD>
  </TR>
  <TR vAlign=top>
    <TD align=left><B></B></TD>
    <TD colspan="2" align=left nowrap><b><font size=2>Item 8.01&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></b></TD>
    <TD align=left><B><FONT size=2>Other events</FONT></B></TD>
  </TR>
  <TR vAlign=top>
    <TD align=left>&nbsp;</TD>
    <TD colspan="2" align=left>&nbsp;</TD>
    <TD align=left>&nbsp;</TD>
  </TR>
  <TR vAlign=top>
    <TD align=left>&nbsp;</TD>
    <TD colspan="2" align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;99.1</TD>
    <TD align=left><p>Distribution to holders of the PPLUS Trust Certificates
        Series GSC-2 on May 16, 2011. </p>
      <p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;For information with respect to the underlying
        securities held by PPLUS Trust Series GSC-2, please refer to The Goldman
        Sachs Group, Inc.&#146;s (Commission file number 001-14965) periodic reports,
        including annual reports on Form 10-K, quarterly reports on Form 10-Q
        and current reports on Form 8-K, and other information on file with the
        Securities and Exchange Commission (the &#147;SEC&#148;). You can read
        and copy these reports and other information at the public reference facilities
        maintained by the SEC at Room 1580, 100 F Street, NE, Washington, D.C.
        20549. You may obtain copies of this material for a fee by writing to
        the SEC&#146;s Public Reference Section of the SEC at 100 F Street, NE,
        Washington, D.C. 20549. You may obtain information about the operation
        of the Public Reference Room by calling the SEC at 1-800-SEC-0330. You
        can also access some of this information electronically by means of the
        SEC&#146;s website on the Internet at http://www.sec.gov, which contains
        reports, proxy and information statements and other information that the
        underlying securities guarantor and the underlying securities issuer has
        filed electronically with the SEC.</p></TD>
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    <TD align=left>&nbsp;</TD>
    <TD colspan="2" align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD colspan="2" align=left><p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Although we have
        no reason to believe the information concerning the underlying securities
        and the junior subordinated debentures or the underlying securities issuer
        and the underlying securities guarantor contained in the underlying securities
        guarantor&#146;s Exchange Act reports is not reliable, neither the depositor
        nor the trustee participated in the preparation of such documents or made
        any due diligence inquiry with respect to the information provided therein.
        No investigation with respect to the underlying securities issuer and
        the underlying securities guarantor (including, without limitation, no
        investigation as to their financial condition or creditworthiness) or
        of the underlying securities and the junior subordinated debentures has
        been made. You should obtain and evaluate the same information concerning
        the underlying securities issuer and the underlying securities guarantor
        as you would obtain and evaluate if your investment were directly in the
        underlying securities or in other securities issued by the underlying
        securities issuer or the underlying securities guarantor. There can be
        no assurance that events affecting the underlying securities and the junior
        subordinated debentures or the underlying securities issuer and the underlying
        securities guarantor have not occurred or have not yet been publicly disclosed
        which would affect the accuracy or completeness of the publicly available
        documents described above.</p></TD>
  </TR>
  <TR vAlign=top>
    <TD align=left>&nbsp;</TD>
    <TD colspan="2" align=left>&nbsp;</TD>
    <TD colspan="2" align=left>&nbsp;</TD>
  </TR>
  <TR vAlign=top>
    <TD align=left nowrap><B>Section 9. <FONT size=2>&nbsp;&nbsp;&nbsp;</FONT></B></TD>
    <TD align=left>&nbsp;</TD>
    <TD colspan="3" align=left><B>Financial Statements and Exhibits</B></TD>
  </TR>
  <TR vAlign=top>
    <TD align=left>&nbsp;</TD>
    <TD colspan="2" align=left>&nbsp;</TD>
    <TD colspan="2" align=left>&nbsp;</TD>
  </TR>
  <TR vAlign=top>
    <TD align=left><B></B></TD>
    <TD colspan="2" align=left nowrap><b>Item 9.01<font size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></b></TD>
    <TD colspan="2" align=left><B>Financial Statements and Exhibits</B></TD>
  </TR>
  <TR vAlign=top>
    <TD align=left>&nbsp;</TD>
    <TD colspan="2" align=left>&nbsp;</TD>
    <TD colspan="2" align=left>&nbsp;</TD>
  </TR>
  <TR vAlign=top>
    <TD align=left>&nbsp;</TD>
    <TD colspan="2" align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)</TD>
    <TD colspan="2" align=left><p>Financial statements of business acquired.</p>
      <p>None.</p></TD>
  </TR>
  <TR vAlign=top>
    <TD align=left>&nbsp;</TD>
    <TD colspan="2" align=left>&nbsp;</TD>
    <TD colspan="2" align=left>&nbsp;</TD>
  </TR>
  <TR vAlign=top>
    <TD align=left>&nbsp;</TD>
    <TD colspan="2" align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)</TD>
    <TD colspan="2" align=left><p>Pro forma financial information.</p>
      <p>None.</p></TD>
  </TR>
  <TR vAlign=top>
    <TD align=left>&nbsp;</TD>
    <TD colspan="2" align=left>&nbsp;</TD>
    <TD colspan="2" align=left>&nbsp;</TD>
  </TR>
  <TR vAlign=top>
    <TD align=left>&nbsp;</TD>
    <TD colspan="2" align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)</TD>
    <TD colspan="2" align=left><p>Shell company transaction.</p>
      <p>Not applicable.</p></TD>
  </TR>
  <TR vAlign=top>
    <TD align=left>&nbsp;</TD>
    <TD colspan="2" align=left>&nbsp;</TD>
    <TD colspan="2" align=left>&nbsp;</TD>
  </TR>
  <TR vAlign=top>
    <TD align=left>&nbsp;</TD>
    <TD colspan="2" align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)</TD>
    <TD colspan="2" align=left>Exhibits.</TD>
  </TR>
  <TR vAlign=top>
    <TD align=left>&nbsp;</TD>
    <TD colspan="2" align=left>&nbsp;</TD>
    <TD colspan="2" align=left>&nbsp;</TD>
  </TR>
  <TR vAlign=top>
    <TD align=left>&nbsp;</TD>
    <TD colspan="2" align=left>&nbsp;</TD>
    <TD align=left>99.1</TD>
    <TD align=left>Trustee&#146;s report in respect of the May 16,
      2011 distribution to holders of the PPLUS Trust Certificates Series GSC-2.</TD>
  </TR>
</TABLE>
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<P style="TEXT-ALIGN: center"><B>SIGNATURES</B></P>
<P style="TEXT-ALIGN: justify">Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, hereunto duly authorized.</P>
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    <TD></TD>
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    <TD width="60%" align=left>&nbsp;</TD>
    <TD colspan="2" align=left><FONT size=2>MERRILL LYNCH DEPOSITOR, INC.</FONT></TD>
  </TR>
  <TR>
    <TD colSpan=3>&nbsp;</TD>
  </TR>
  <TR vAlign=bottom>
    <TD align=left><FONT size=2>Date: May 24, 2011</FONT></TD>
    <TD align=left nowrap><FONT size=2>By:</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD align=left>/s/ <font size=2> John Marciano</font></TD>
  </TR>
  <TR vAlign=bottom>
    <TD align=left>&nbsp;</TD>
    <TD align=left>&nbsp;</TD>
    <TD align=left><hr size="1" noshade></TD>
  </TR>
  <TR vAlign=bottom>
    <TD align=left height="14">&nbsp;</TD>
    <TD align=left height="14">&nbsp;</TD>
    <TD align=left height="14"><FONT size=2>Name: John Marciano</FONT></TD>
  </TR>
  <TR vAlign=bottom>
    <TD align=left>&nbsp;</TD>
    <TD align=left>&nbsp;</TD>
    <TD align=left><FONT size=2>Title: &nbsp;Vice President</FONT></TD>
  </TR>
</TABLE>
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<P style="TEXT-ALIGN: center"><B>EXHIBIT INDEX</B></P>
<TABLE style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'" cellSpacing=0 border=0>
<TR>
     <TD vAlign=top nowrap width="2%">99.1&nbsp; &nbsp; &nbsp; </TD>
     <TD width="98%">
<P align=justify>Trustee&#146;s report in respect of the May 16, 2011 distribution to holders of the PPLUS Trust Certificates Series GSC-2.</P>
</TD></TR>
<TR>
     <TD width="100%" colSpan=2>&nbsp;</TD></TR></TABLE>
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<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>e43637ex99-1.htm
<DESCRIPTION>TRUSTEE'S REPORT
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<P style="TEXT-ALIGN: center"><B>EXHIBIT 99.1</B></P>
<P style="TEXT-ALIGN: center"><B>DISTRIBUTION REPORT</B><BR>
<B>FOR</B><BR>
<B>PPLUS TRUST SERIES GSC-2</B><BR>
<BR>
<B>DISTRIBUTION DATE</B><BR>
<B>MAY 16, 2011</B><BR>
<B>CUSIP NUMBER 73941X684</B></P>
<TABLE style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'" cellSpacing=0 border=0>
<TR>
     <TD vAlign=top nowrap width="2%">(i)&nbsp; &nbsp; &nbsp; </TD>
     <TD width="98%">
<P align=justify>the amounts received by the Trustee as of the last such statement in respect of principal, interest and premium on the 6.345% Capital Securities due 2034 issued by Goldman Sachs Capital I (the &#147;Underlying Securities&#148;):</P>
</TD></TR>
<TR>
     <TD width="100%" colSpan=2>&nbsp;</TD></TR></TABLE>
<TABLE width="300" border=0 align="center" cellpadding="0" cellSpacing=0 style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">
<TR>
     <TD></TD>
     <TD></TD></TR>
<TR vAlign=bottom>
     <TD align=left><FONT size=2>Interest:</FONT></TD>
     <TD align=right><B><FONT size=2>$0.00</FONT></B></TD></TR>
<TR vAlign=bottom>
     <TD align=left><FONT size=2>Principal:</FONT></TD>
     <TD align=right><B><FONT size=2>0.00</FONT></B></TD></TR>
<TR vAlign=bottom>
     <TD align=left><FONT size=2>Premium:</FONT></TD>
     <TD align=right><B><FONT size=2>0.00</FONT></B></TD></TR></TABLE><BR>
<TABLE style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'" cellSpacing=0 border=0>
<TR>
     <TD vAlign=top nowrap width="2%">(ii)&nbsp; &nbsp; &nbsp; </TD>
     <TD width="98%">
<P align=justify>the amounts received by the Trustee as of the last such statement in respect of Interest Rate Swap entered into between PPLUS Trust Series GSC-2 and Merrill Lynch Capital Services, Inc. (the &#147;Swap Agreement&#148;):</P>
</TD></TR>
<TR>
     <TD width="100%" colSpan=2>&nbsp;</TD></TR></TABLE>
<TABLE width="300" border=0 align="center" cellpadding="0" cellSpacing=0 style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">
<TR>
     <TD></TD>
     <TD></TD></TR>
<TR vAlign=bottom>
     <TD align=left><FONT size=2>Interest:</FONT></TD>
     <TD align=right><B><FONT size=2>$262,500.00</FONT></B></TD></TR>
<TR vAlign=bottom>
     <TD align=left><FONT size=2>Principal:</FONT></TD>
     <TD align=right><B><FONT size=2>0.00</FONT></B></TD></TR></TABLE><BR>
<TABLE style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'" cellSpacing=0 border=0>
<TR>
     <TD vAlign=top nowrap width="2%">(iii)&nbsp; &nbsp; &nbsp; </TD>
     <TD width="98%">
<P align=justify>the amounts of compensation received by the Trustee, for the period relating to such Distribution Date:</P>
</TD></TR>
<TR>
     <TD width="100%" colSpan=2>&nbsp;</TD></TR></TABLE>
<TABLE width="300" border=0 align="center" cellpadding="0" cellSpacing=0 style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">
  <TR>
    <TD></TD>
    <TD></TD>
  </TR>
  <TR vAlign=bottom>
    <TD align=left><FONT size=2>Paid by the Trust:</FONT></TD>
    <TD align=right><B><FONT size=2>$0.00</FONT></B></TD>
  </TR>
  <TR vAlign=bottom>
    <TD align=left><FONT size=2>Paid by the Depositor:</FONT><B></B></TD>
    <TD align=right><b><font size=2>$1,000.00</font></b></TD>
  </TR>
</TABLE>
<BR>
<TABLE style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'" cellSpacing=0 border=0>
<TR>
     <TD vAlign=top nowrap width="2%">(iv)&nbsp; &nbsp; &nbsp; </TD>
     <TD width="98%">
<P align=justify>the amount of distribution on such Distribution Date to Holders allocable to principal of and premium, if any, and interest on the Certificates of each such Class and the amount of aggregate unpaid interest accrued as of such Distribution Date:</P>
</TD></TR>
<TR>
     <TD width="100%" colSpan=2>&nbsp;</TD></TR></TABLE>
<TABLE width="300" border=0 align="center" cellpadding="0" cellSpacing=0 style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">
  <TR>
    <TD width="185"></TD>
    <TD width="100"></TD>
  </TR>
  <TR vAlign=bottom>
    <TD align=left><FONT size=2>Interest:</FONT></TD>
    <TD align=center><B><FONT size=2>$262,500.00</FONT></B></TD>
  </TR>
  <TR vAlign=bottom>
    <TD align=left><FONT size=2>Principal:</FONT></TD>
    <TD align=center><B><FONT size=2>$0.00</FONT></B></TD>
  </TR>
  <TR vAlign=bottom>
    <TD align=left><FONT size=2>Unpaid Interest Accrued:</FONT></TD>
    <TD align=center><B><FONT size=2>$0.00</FONT></B></TD>
  </TR>
</TABLE>
<BR>
<TABLE style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'" cellSpacing=0 border=0>
<TR>
     <TD vAlign=top nowrap width="2%">(v)&nbsp; &nbsp; &nbsp; </TD>
     <TD width="98%">
<P align=justify>the amount of distribution on such Distribution Date to Merrill Lynch Capital Services, Inc. in respect of the Interest Rate Swap entered into between PPLUS Trust Series GSC-2 and Merrill Lynch Capital Services, Inc. (the &#147;Swap Agreement:</P>
</TD></TR>
<TR>
     <TD width="100%" colSpan=2>&nbsp;</TD></TR></TABLE>
<TABLE width="300" border=0 align="center" cellpadding="0" cellSpacing=0 style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">
<TR>
     <TD></TD>
     <TD></TD></TR>
<TR vAlign=bottom>
     <TD align=left><FONT size=2>Interest:</FONT></TD>

    <TD align=right><FONT size=2><b>$</b></FONT><b><FONT size=2>0.00</FONT></b></TD>
  </TR>
<TR vAlign=bottom>
     <TD align=left><FONT size=2>Principal:</FONT></TD>
     <TD style="TEXT-INDENT: 1px" align=right><B><FONT size=2>$0.00</FONT></B></TD></TR></TABLE><BR>
<HR align=center width="100%" noshade SIZE=5>
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<BR>
<TABLE style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'" cellSpacing=0 border=0>
<TR>
     <TD vAlign=top nowrap width="2%">(vi)&nbsp; &nbsp; &nbsp; </TD>
     <TD width="98%">
<P align=justify>the aggregate stated principal amount and, if applicable, notional amount of the Underlying Securities related to such Series, the current interest rate or rates thereon at the close of business on such Distribution Date, and the current rating assigned to the Certificates.</P>
</TD></TR>
<TR>
     <TD width="100%" colSpan=2>&nbsp;</TD></TR></TABLE>
<TABLE width="400" border=0 align="center" cellpadding="0" cellSpacing=0 style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">
<TR>
     <TD width="253"></TD>
     <TD width="95"></TD>
     <TD width="52"></TD></TR>
<TR vAlign=bottom>
     <TD align=left><FONT size=2>Principal Amount:</FONT></TD>
     <TD align=left><B><FONT size=2>$35,000,000</FONT></B></TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left><FONT size=2>Interest Rate:</FONT></TD>
     <TD align=left><B><FONT size=2>6.345%</FONT></B></TD>
     <TD align=left>&nbsp;</TD></TR>
<TR>
     <TD colSpan=3>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left><FONT size=2>Rating:</FONT></TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>

    <TD style="TEXT-INDENT: 10px" align=left colSpan=2><FONT size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Moody&#146;s
      Investor Service</FONT></TD>
     <TD align=left><B><FONT size=2>N/A</FONT></B></TD></TR>
<TR vAlign=bottom>

    <TD style="TEXT-INDENT: 10px" align=left colSpan=2><FONT size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Standard
      &amp; Poor&#146;s Rating Service</FONT></TD>
     <TD align=left><B><FONT size=2>BBB-</FONT></B></TD></TR></TABLE><BR>
<TABLE style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'" cellSpacing=0 border=0>
<TR>
     <TD vAlign=top nowrap width="2%">(vii)&nbsp; &nbsp; &nbsp; </TD>
     <TD width="98%">
<P align=justify>the aggregate notional amount of the Swap Agreement related to such Series, the current interest rate or rates thereon at the close of business on such Distribution Date.</P>
</TD></TR>
<TR>
     <TD width="100%" colSpan=2>&nbsp;</TD></TR></TABLE>
<TABLE width="400" border=0 align="center" cellpadding="0" cellSpacing=0 style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">
<TR>
     <TD width="254"></TD>
     <TD width="146"></TD></TR>
<TR vAlign=bottom>
     <TD align=left><FONT size=2>Notional Amount:</FONT></TD>
     <TD align=left><B><FONT size=2>$35,000,000</FONT></B></TD></TR>
<TR vAlign=bottom>
     <TD align=left><FONT size=2>Interest Rate:</FONT></TD>
     <TD align=left><B><FONT size=2>3.000%</FONT></B></TD></TR></TABLE><BR>
<TABLE style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'" cellSpacing=0 border=0>
<TR>
     <TD vAlign=top nowrap width="2%">(viii)&nbsp; &nbsp; &nbsp; </TD>
     <TD width="98%">
<P align=justify>the aggregate Certificate Principal Balance (or Notional Amount, if applicable) of each Class of such Series at the close of business on such Distribution Date.</P>
</TD></TR>
<TR>
     <TD width="100%" colSpan=2>&nbsp;</TD></TR></TABLE>
<TABLE width="400" border=0 align="center" cellpadding="0" cellSpacing=0 style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">
<TR>
     <TD width="321"></TD>
     <TD width="79"></TD></TR>
<TR vAlign=bottom>
     <TD align=left><FONT size=2>($25 Stated Amount)</FONT></TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left><FONT size=2>Principal Balance:</FONT></TD>
     <TD align=right><B><FONT size=2>$35,000,000</FONT></B></TD></TR>
<TR vAlign=bottom>
     <TD align=left><FONT size=2>Reduction:</FONT></TD>
     <TD style="TEXT-INDENT: 12px" align=right><B><FONT size=2>(0)</FONT></B></TD></TR>
<TR>
     <TD>&nbsp;</TD>
     <TD align="right">
<HR noshade SIZE=1>
</TD></TR>
<TR vAlign=bottom>
     <TD align=left><FONT size=2>Principal Balance 05/16/11</FONT></TD>
     <TD align=right><B><FONT size=2>$35,000,000</FONT></B></TD></TR></TABLE><BR>
<HR align=center width="100%" noshade SIZE=5>


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