<SEC-DOCUMENT>0001174947-12-000351.txt : 20120828
<SEC-HEADER>0001174947-12-000351.hdr.sgml : 20120828
<ACCEPTANCE-DATETIME>20120828162621
ACCESSION NUMBER:		0001174947-12-000351
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20120815
ITEM INFORMATION:		Other Events
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20120828
DATE AS OF CHANGE:		20120828

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:		121060309

	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>e49626_8k.htm
<DESCRIPTION>CURRENT REPORT
<TEXT>
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<P STYLE="margin: 0"></P>

<P STYLE="font: 11pt NewCenturySchlbk; margin: 0; text-align: center">SECURITIES AND EXCHANGE COMMISSION</P>

<P STYLE="font: 11pt NewCenturySchlbk; margin: 0; text-align: center">WASHINGTON, D. C. 20549</P>

<P STYLE="font: 11pt NewCenturySchlbk; margin: 0; text-align: center">__________________________</P>

<P STYLE="font: 11pt NewCenturySchlbk; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 11pt NewCenturySchlbk; margin: 0; text-align: center">FORM 8-K</P>

<P STYLE="font: 11pt NewCenturySchlbk; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 11pt NewCenturySchlbk; margin: 0; text-align: center">CURRENT REPORT</P>

<P STYLE="font: 11pt NewCenturySchlbk; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 11pt NewCenturySchlbk; margin: 0; text-align: center">Pursuant to Section 13 or 15(d) of</P>

<P STYLE="font: 11pt NewCenturySchlbk; margin: 0; text-align: center">The Securities Exchange Act of 1934</P>

<P STYLE="font: 11pt NewCenturySchlbk; margin: 0; text-align: center">_________________________</P>

<P STYLE="font: 11pt NewCenturySchlbk; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 11pt NewCenturySchlbk; margin: 0; text-align: center">Date of Report (Date of earliest event reported): August
15, 2012</P>

<P STYLE="font: 11pt NewCenturySchlbk; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 11pt NewCenturySchlbk; margin: 0; text-align: center"><B>MERRILL LYNCH DEPOSITOR, INC.</B></P>

<P STYLE="font: 11pt NewCenturySchlbk; margin: 0; text-align: center"><B>(on behalf of PPLUS TRUST SERIES GSC-2)</B></P>

<P STYLE="font: 11pt NewCenturySchlbk; margin: 0; text-align: center">(Exact name of registrant as specified in its charter)</P>

<P STYLE="font: 11pt NewCenturySchlbk; margin: 0; text-align: center">&nbsp;</P>

<TABLE ALIGN="CENTER" CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt NewCenturySchlbk; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 33%; padding-right: 5.4pt; padding-left: 5.4pt; font-weight: bold; text-align: center">Delaware</TD>
    <TD STYLE="width: 33%; padding-right: 5.4pt; padding-left: 5.4pt; font-weight: bold; text-align: center">001-32247</TD>
    <TD STYLE="width: 33%; padding-right: 5.4pt; padding-left: 5.4pt; font-weight: bold; text-align: center">13-3891329</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">(State or other</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">(Commission</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">(I. R. S. Employer</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">jurisdiction&nbsp; of</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">File Number)</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">Identification No.)</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">incorporation)</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-weight: bold; text-align: center"><B>One Bryant Park, 4<SUP>th</SUP> FL</B></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-weight: bold; text-align: center">10036</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-weight: bold; text-align: center">Structured Credit Trading</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">(Zip Code)</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-weight: bold; text-align: center">New York, NY</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">(Address of principal</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">executive offices)</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 11pt NewCenturySchlbk; margin: 0; text-align: center">__________________________</P>

<P STYLE="font: 11pt NewCenturySchlbk; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 11pt NewCenturySchlbk; margin: 0; text-align: center">Registrant&rsquo;s telephone number, including area code:
(646) 855-6745</P>

<P STYLE="font: 11pt NewCenturySchlbk; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 11pt NewCenturySchlbk; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 11pt NewCenturySchlbk; margin: 0; text-align: center"><B>INFORMATION TO BE INCLUDED IN REPORT</B></P>

<P STYLE="font: 11pt NewCenturySchlbk; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt NewCenturySchlbk; margin: 12pt 0.5in 0 0">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="font: 10pt NewCenturySchlbk; margin: 12pt 0 0">[&nbsp;&nbsp;&nbsp;] Written communications pursuant to Rule 425 under the Securities Act
(17 CFR 230.425)</P>

<P STYLE="font: 10pt NewCenturySchlbk; margin: 12pt 0 0">[&nbsp;&nbsp;&nbsp;] Soliciting material pursuant to Rule 14a-12 under the Exchange Act
(17 CFR 240.14a-12)</P>

<P STYLE="font: 10pt NewCenturySchlbk; margin: 12pt 0 0">[&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="font: 10pt NewCenturySchlbk; margin: 12pt 0 0">[&nbsp;&nbsp;&nbsp;] Pre-commencement communications pursuant to Rule 13e-4(c) under the
Exchange Act (17 CFR 240.13e-4(c))</P>

<P STYLE="font: 11pt NewCenturySchlbk; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt NewCenturySchlbk; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt NewCenturySchlbk; margin: 0">&nbsp;</P>

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<P STYLE="font: 11pt NewCenturySchlbk; margin: 0"></P>

<P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0 0 6pt; text-indent: 0in">Section 1.<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>&#9;Registrant&rsquo;s Business and Operations</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt; margin-left: 40pt; text-indent: 0pt">Not applicable.</P>

<P STYLE="font: bold 11pt NewCenturySchlbk; margin: 0 0 6pt; text-indent: 0in">Section 2.<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>&#9;Financial Information</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt; margin-left: 40pt; text-indent: 0pt">Not applicable.</P>

<P STYLE="font: bold 11pt NewCenturySchlbk; margin: 0 0 6pt; text-indent: 0in">Section 3.<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>&#9;Securities and Trading Markets</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt; margin-left: 40pt; text-indent: 0pt">Not applicable.</P>

<P STYLE="font: bold 11pt NewCenturySchlbk; margin: 0 0 6pt; text-indent: 0in">Section 4.<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>&#9;Matters Related to Accountants and Financial Statements</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt; margin-left: 40pt; text-indent: 0pt">Not applicable.</P>

<P STYLE="font: bold 11pt NewCenturySchlbk; margin: 0 0 6pt; text-indent: 0in">Section 5.<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>&#9;Corporate Governance and Management</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt; margin-left: 40pt; text-indent: 0pt">Not applicable.</P>

<P STYLE="font: bold 11pt NewCenturySchlbk; margin: 0 0 6pt; text-indent: 0in">Section 6.<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>&#9;Asset-Backed Securities</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt; margin-left: 40pt; text-indent: 0pt"><FONT STYLE="font-weight: normal">Not applicable.</FONT></P>

<P STYLE="font: bold 11pt NewCenturySchlbk; margin: 0 0 6pt; text-indent: 0in">Section 7.<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>&#9;Regulation FD</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt; margin-left: 40pt; text-indent: 0pt">Not applicable.</P>

<P STYLE="font: bold 11pt NewCenturySchlbk; margin: 0 0 12pt; text-indent: 0in">Section 8.<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>&#9;Other Events</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.25in"><B>&#9;Item 8.01 &#9;Other events</B></P>


<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 11pt NewCenturySchlbk; margin-top: 0pt; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 61pt; text-align: right">99.1</TD><TD STYLE="width: 5pt"></TD><TD>Distribution to holders of the PPLUS Trust Certificates Series GSC-2 on August 15,
2012.</TD>
</TR></TABLE>

<P STYLE="font: 11pt NewCenturySchlbk; margin: 0 0 0 1in">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt; margin-left: 60pt; text-indent: 20pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">For information with respect to the underlying
securities held by PPLUS Trust Series GSC-2, please refer to The Goldman Sachs Group, Inc.&rsquo;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 &ldquo;SEC&rdquo;). You can read and copy these reports and
other information at the public reference facilities maintained by the SEC at Room&nbsp;1580, 100 F Street, NE, Washington, D.C.
20549. You may obtain copies of this material for a fee by writing to the SEC&rsquo;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&rsquo;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>


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<P STYLE="font: 11pt NewCenturySchlbk; margin: 0 0 0 1in; text-indent: 0.5in"></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt; margin-left: 60pt; text-indent: 20pt">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&rsquo;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>

<P STYLE="font: 11pt NewCenturySchlbk; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt NewCenturySchlbk; margin: 0"><B>Section 9.&#9;Financial Statements and Exhibits</B></P>

<P STYLE="font: 11pt NewCenturySchlbk; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.25in">&#9;<B>Item 9.01&#9;Financial Statements and Exhibits</B></P>


<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 55pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">(a)</TD><TD STYLE="width: 5pt"></TD><TD>Financial statements of business acquired.</TD>
</TR></TABLE>

<P STYLE="font: 11pt NewCenturySchlbk; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt; margin-left: 60pt; text-indent: 0pt">None.</P>

<P STYLE="font: 11pt NewCenturySchlbk; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 55pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">(b)</TD><TD STYLE="width: 5pt"></TD><TD>Pro forma financial information.</TD>
</TR></TABLE>

<P STYLE="font: 11pt NewCenturySchlbk; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt; margin-left: 60pt; text-indent: 0pt">None.</P>

<P STYLE="font: 11pt NewCenturySchlbk; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 55pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">(c)</TD><TD STYLE="width: 5pt"></TD><TD>Shell company transaction.</TD>
</TR></TABLE>

<P STYLE="font: 11pt NewCenturySchlbk; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt; margin-left: 60pt; text-indent: 0pt">Not applicable.</P>

<P STYLE="font: 11pt NewCenturySchlbk; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 55pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">(d)</TD><TD STYLE="width: 5pt"></TD><TD>Exhibits.</TD>
</TR></TABLE>

<P STYLE="font: 11pt NewCenturySchlbk; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">99.1</TD>
    <TD>&nbsp;</TD><TD>Trustee&rsquo;s report in respect of the August 15, 2012 distribution to holders of the PPLUS Trust Certificates Series GSC-2.</TD></TR></TABLE>

<P STYLE="font: 11pt NewCenturySchlbk; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt NewCenturySchlbk; margin: 0"></P>

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<P STYLE="font: 11pt NewCenturySchlbk; margin: 0; text-align: center"><B>SIGNATURES</B></P>

<P STYLE="font: 11pt NewCenturySchlbk; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt; margin-left: 0; text-indent: 0">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>

<P STYLE="font: 11pt NewCenturySchlbk; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 11pt NewCenturySchlbk; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt">MERRILL LYNCH DEPOSITOR, INC.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 60%; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="width: 8%; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="width: 32%; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Date: August 28, 2012</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">By:</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; border-bottom: Black 1pt solid">/s/ John Marciano</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Name:</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">John Marciano</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Title:</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Vice President</TD></TR>
</TABLE>
<P STYLE="font: 11pt NewCenturySchlbk; margin: 0">&nbsp;</P>


<P STYLE="font: 11pt NewCenturySchlbk; margin: 0; text-align: center"><B></B></P>

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<P STYLE="font: 11pt NewCenturySchlbk; margin: 0; text-align: center"><B>EXHIBIT INDEX</B></P>

<P STYLE="font: 11pt NewCenturySchlbk; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 11pt NewCenturySchlbk; margin: 0"><B>&nbsp;</B></P>

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<TD STYLE="width: 17pt; text-align: right">99.1</TD><TD STYLE="width: 5pt"></TD><TD>Trustee&rsquo;s report in respect of the August 15, 2012 distribution to holders of
the PPLUS Trust Certificates Series GSC-2.</TD>
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<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>e49626ex99_1.htm
<DESCRIPTION>DISTRIBUTION REPORT
<TEXT>
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<P STYLE="font: 11pt NewCenturySchlbk; margin: 0; text-align: center"><B>EXHIBIT 99.1</B></P>

<P STYLE="font: 11pt NewCenturySchlbk; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 11pt NewCenturySchlbk; margin: 0; text-align: center"><B>DISTRIBUTION REPORT</B></P>

<P STYLE="font: 11pt NewCenturySchlbk; margin: 0; text-align: center"><B>FOR</B></P>

<P STYLE="font: bold 11pt NewCenturySchlbk; margin: 0; text-align: center">PPLUS TRUST SERIES GSC-2</P>

<P STYLE="font: 11pt NewCenturySchlbk; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: bold 11pt NewCenturySchlbk; margin: 0; text-align: center">DISTRIBUTION DATE</P>

<P STYLE="font: 11pt NewCenturySchlbk; margin: 0; text-align: center"><B>AUGUST 15, 2012</B></P>

<P STYLE="font: 11pt NewCenturySchlbk; margin: 0; text-align: center"><B>CUSIP NUMBER 73941X684</B></P>

<P STYLE="font: 11pt NewCenturySchlbk; margin: 0">&nbsp;</P>

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<TD STYLE="width: 17pt; text-align: right">(i)</TD><TD STYLE="width: 5pt"></TD><TD>the amounts received by the Trustee as of the last such statement in respect of&nbsp;
principal, interest and premium on the 6.345% Capital Securities due 2034 issued by Goldman Sachs Capital I (the &ldquo;Underlying
Securities&rdquo;):</TD>
</TR></TABLE>
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<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; padding-right: 5.4pt; padding-left: 5.4pt">Interest:</TD>
    <TD STYLE="width: 50%; padding-right: 5.4pt; padding-left: 5.4pt; font-weight: bold; text-align: right">$1,110,375.00</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Principal:</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-weight: bold; text-align: right">0.00</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Premium:</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-weight: bold; text-align: right">0.00</TD></TR>
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<TD STYLE="width: 17pt; text-align: right">(ii)</TD><TD STYLE="width: 5pt"></TD><TD>the amounts received by the Trustee as of the last such statement in respect of&nbsp;
Interest Rate Swap entered into between PPLUS Trust Series GSC-2 and Merrill Lynch Capital Services, Inc. (the &ldquo;Swap Agreement&rdquo;):</TD>
</TR></TABLE>
<P STYLE="font: 11pt NewCenturySchlbk; margin: 0">&nbsp;</P>

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<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; padding-right: 5.4pt; padding-left: 5.4pt">Interest:</TD>
    <TD STYLE="width: 50%; padding-right: 5.4pt; padding-left: 5.4pt; font-weight: bold; text-align: right">$0.00</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Principal:</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-weight: bold; text-align: right">0.00</TD></TR>
</TABLE>
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<TD STYLE="width: 17pt; text-align: right">(iii)</TD><TD STYLE="width: 5pt"></TD><TD>the amounts of compensation received by the Trustee, for the period relating to such
Distribution Date:</TD>
</TR></TABLE>
<P STYLE="font: 11pt NewCenturySchlbk; margin: 0">&nbsp;</P>

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<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; padding-right: 5.4pt; padding-left: 5.4pt">Paid by the Trust:</TD>
    <TD STYLE="width: 50%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><B>$0.00</B></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Paid by the Depositor:</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-weight: bold; text-align: right">$1,000.00</TD></TR>
</TABLE>
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<TD STYLE="width: 17pt; text-align: right">(iv)</TD><TD STYLE="width: 5pt"></TD><TD>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:</TD>
</TR></TABLE>
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<TABLE CELLSPACING="0" CELLPADDING="0" ALIGN="CENTER" STYLE="width: 50%; font: 11pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; padding-right: 5.4pt; padding-left: 5.4pt">Interest:</TD>
    <TD STYLE="width: 50%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><B>$268,333.33</B></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Principal:</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><B>$0.00</B></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Unpaid Interest Accrued:</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><B>$0.00</B></TD></TR>
</TABLE>
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<TD STYLE="width: 17pt; text-align: right">(v)</TD><TD STYLE="width: 5pt"></TD><TD>the amount of distribution on such Distribution Date to Merrill Lynch Capital Services,
Inc. in respect of&nbsp; the Interest Rate Swap entered into between PPLUS Trust Series GSC-2 and Merrill Lynch Capital Services,
Inc. (the &ldquo;Swap Agreement:</TD>
</TR></TABLE>
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    <TD STYLE="width: 50%; padding-right: 5.4pt; padding-left: 5.4pt">Interest:</TD>
    <TD STYLE="width: 50%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">$<B>842,041.67</B></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Principal:</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><B>$0.00</B></TD></TR>
</TABLE>
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<TD STYLE="width: 17pt; text-align: right">(vi)</TD><TD STYLE="width: 5pt"></TD><TD>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.</TD>
</TR></TABLE>
<P STYLE="font: 11pt NewCenturySchlbk; margin: 0">&nbsp;</P>


<TABLE CELLSPACING="0" CELLPADDING="0" ALIGN="CENTER" STYLE="width: 60%; font: 11pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 76%; text-autospace: none"><FONT STYLE="font-family: Times New Roman, Times, Serif">Principal
    Amount:</FONT></TD>
    <TD STYLE="width: 24%; text-autospace: none; font-weight: bold"><FONT STYLE="font-family: Times New Roman, Times, Serif">$35,000,000</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-autospace: none"><FONT STYLE="font-family: Times New Roman, Times, Serif">Interest
    Rate:</FONT></TD>
    <TD STYLE="text-autospace: none; font-weight: bold"><FONT STYLE="font-family: Times New Roman, Times, Serif">6.345%</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-autospace: none">&nbsp;</TD>
    <TD STYLE="text-autospace: none; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-autospace: none"><FONT STYLE="font-family: Times New Roman, Times, Serif">Rating:</FONT></TD>
    <TD STYLE="text-autospace: none"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-autospace: none"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Moody&rsquo;s
    Investor Service</FONT></TD>
    <TD STYLE="text-autospace: none; font-weight: bold; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">N/A</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-autospace: none"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Standard
    &amp; Poor&rsquo;s Rating Service</FONT></TD>
    <TD STYLE="text-autospace: none; font-weight: bold; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">BB+</FONT></TD></TR>
</TABLE>


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<TD STYLE="width: 17pt; text-align: right">(vii)</TD><TD STYLE="width: 5pt"></TD><TD>the aggregate&nbsp; 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.</TD>
</TR></TABLE>
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<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; padding-right: 5.4pt; padding-left: 5.4pt">Notional Amount:</TD>
    <TD STYLE="width: 50%; padding-right: 5.4pt; padding-left: 5.4pt; font-weight: bold; text-align: right">$35,000,000</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Interest Rate:</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-weight: bold; text-align: right">3.000%</TD></TR>
</TABLE>
<P STYLE="font: 11pt NewCenturySchlbk; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 11pt NewCenturySchlbk; margin: 0"><B>&nbsp;</B></P>

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<TD STYLE="width: 17pt; text-align: right">(viii)</TD><TD STYLE="width: 5pt"></TD><TD>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.</TD>
</TR></TABLE>
<P STYLE="font: 11pt NewCenturySchlbk; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt NewCenturySchlbk; margin: 0">&nbsp;</P>

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<TR STYLE="vertical-align: top">
    <TD STYLE="width: 74%; padding-right: 5.4pt; padding-left: 5.4pt">($25 Stated Amount)</TD>
    <TD STYLE="width: 26%; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Principal Balance:</TD>
    <TD STYLE="text-autospace: none; font-weight: bold; text-align: right">$35,000,000</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Reduction:</TD>
    <TD STYLE="text-autospace: none; text-align: right; border-bottom: Black 1pt solid"><B>(0)</B></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Principal Balance 08/15/12</TD>
    <TD STYLE="text-autospace: none; font-weight: bold; text-align: right">$35,000,000</TD></TR>
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