<SEC-DOCUMENT>0001174947-12-000439.txt : 20121120
<SEC-HEADER>0001174947-12-000439.hdr.sgml : 20121120
<ACCEPTANCE-DATETIME>20121120153731
ACCESSION NUMBER:		0001174947-12-000439
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20121115
ITEM INFORMATION:		Other Events
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20121120
DATE AS OF CHANGE:		20121120

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:		121217944

	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>e50789-8k.htm
<DESCRIPTION>FORM 8-K
<TEXT>
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     <TITLE></TITLE>
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<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<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): November
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="width: 100%; border-collapse: collapse; font: 11pt NewCenturySchlbk">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 32%; font-weight: bold; text-align: center">Delaware</TD>
    <TD STYLE="width: 35%; font-weight: bold; text-align: center">001-32247</TD>
    <TD STYLE="width: 33%; font-weight: bold; text-align: center">13-3891329</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">(State or other</TD>
    <TD STYLE="text-align: center">(Commission</TD>
    <TD STYLE="text-align: center">(I. R. S. Employer</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">jurisdiction&nbsp; of</TD>
    <TD STYLE="text-align: center">File Number)</TD>
    <TD STYLE="text-align: center">Identification No.)</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">incorporation)</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-weight: bold; text-align: center"><B>One Bryant Park, 4<SUP>th</SUP> FL</B></TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">10036</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-weight: bold; text-align: center">Structured Credit Trading</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">(Zip Code)</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-weight: bold; text-align: center">New York, NY</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">(Address of principal</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">executive offices)</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&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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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: left; width: 50%">&nbsp;</TD><TD STYLE="text-align: right; width: 50%"></TD></TR></TABLE></DIV>
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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 11pt NewCenturySchlbk; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 1in">Section 1.</TD><TD><FONT STYLE="font: 7pt Times New Roman, Times, Serif"></FONT>Registrant&rsquo;s Business
and Operations</TD></TR></TABLE>

<P STYLE="font: 11pt NewCenturySchlbk; margin: 0 0 6pt 1in">Not applicable.</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 11pt NewCenturySchlbk; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 1in">Section 2.</TD><TD><FONT STYLE="font: 7pt Times New Roman, Times, Serif"></FONT>Financial Information</TD></TR></TABLE>

<P STYLE="font: 11pt NewCenturySchlbk; margin: 0 0 6pt 1in">Not applicable.</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 11pt NewCenturySchlbk; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 1in">Section 3.</TD><TD><FONT STYLE="font: 7pt Times New Roman, Times, Serif"></FONT>Securities and Trading
Markets</TD></TR></TABLE>

<P STYLE="font: 11pt NewCenturySchlbk; margin: 0 0 6pt 1in">Not applicable.</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 11pt NewCenturySchlbk; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 1in">Section 4.</TD><TD><FONT STYLE="font: 7pt Times New Roman, Times, Serif"></FONT>Matters Related to Accountants
and Financial Statements</TD></TR></TABLE>

<P STYLE="font: 11pt NewCenturySchlbk; margin: 0 0 6pt 1in">Not applicable.</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 11pt NewCenturySchlbk; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 1in">Section 5.</TD><TD><FONT STYLE="font: 7pt Times New Roman, Times, Serif"></FONT>Corporate Governance and
Management</TD></TR></TABLE>

<P STYLE="font: 11pt NewCenturySchlbk; margin: 0 0 6pt 1in">Not applicable.</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 11pt NewCenturySchlbk; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 1in">Section 6. </TD><TD><FONT STYLE="font: 7pt Times New Roman, Times, Serif"></FONT>Asset-Backed Securities</TD></TR></TABLE>

<P STYLE="font: 11pt NewCenturySchlbk; margin: 0 0 6pt 1in; text-indent: 0in"><FONT STYLE="font-weight: normal">Not applicable.</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 11pt NewCenturySchlbk; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 1in">Section 7.</TD><TD><FONT STYLE="font: 7pt Times New Roman, Times, Serif"></FONT>Regulation FD</TD></TR></TABLE>

<P STYLE="font: 11pt NewCenturySchlbk; margin: 0 0 6pt 1in">Not applicable.</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 11pt NewCenturySchlbk; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 1in">Section 8.</TD><TD><FONT STYLE="font: 7pt Times New Roman, Times, Serif"></FONT>Other Events</TD></TR></TABLE>

<P STYLE="font: 11pt NewCenturySchlbk; margin: 0 0 0 0.5in"><B>Item 8.01 &#9;Other events</B></P>

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

<P STYLE="font: 11pt NewCenturySchlbk; margin: 0 0 0 1.5in; text-indent: -0.5in">99.1<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Distribution to holders of the PPLUS Trust Certificates Series GSC-2 on November 15, 2012.</P>

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

<P STYLE="font: 11pt NewCenturySchlbk; margin: 0 0 0 1.5in; text-indent: 0.5in">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>

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

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<P STYLE="font: 11pt NewCenturySchlbk; margin: 0 0 0 1.5in; text-indent: 0.5in">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>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 11pt NewCenturySchlbk; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 1in">Section 9.</TD><TD><FONT STYLE="font: 7pt Times New Roman, Times, Serif"></FONT>Financial Statements and Exhibits</TD></TR></TABLE>



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

<P STYLE="font: 11pt NewCenturySchlbk; margin: 0 0 0 0.5in"><B>Item 9.01&#9;Financial Statements and Exhibits</B></P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt NewCenturySchlbk; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in">(a)</TD><TD>Financial statements of business acquired.</TD></TR></TABLE>

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

<P STYLE="font: 11pt NewCenturySchlbk; margin: 0 0 0 1.5in">None.</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt NewCenturySchlbk; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in">(b)</TD><TD>Pro forma financial information.</TD></TR></TABLE>

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

<P STYLE="font: 11pt NewCenturySchlbk; margin: 0 0 0 1.5in">None.</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt NewCenturySchlbk; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in">(c)</TD><TD>Shell company transaction.</TD></TR></TABLE>

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

<P STYLE="font: 11pt NewCenturySchlbk; margin: 0 0 0 1.5in">Not applicable.</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt NewCenturySchlbk; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in">(d)</TD><TD>Exhibits.</TD></TR></TABLE>



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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt NewCenturySchlbk; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.5in"></TD><TD STYLE="width: 0.5in">99.1</TD><TD>Trustee&rsquo;s report in respect of the November 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">&nbsp;</P>

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

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

<P STYLE="font: 11pt NewCenturySchlbk; margin: 0">&nbsp;</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 NewCenturySchlbk; margin-top: 0; margin-bottom: 9pt; 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>&nbsp;</TD>
    <TD COLSPAN="2">MERRILL LYNCH DEPOSITOR, INC.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 47%">&nbsp;</TD>
    <TD STYLE="width: 8%">&nbsp;</TD>
    <TD STYLE="width: 45%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>Date: November 20, 2012</TD>
    <TD>By:</TD>
    <TD STYLE="border-bottom: Black 1pt solid">/s/ John Marciano</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>Name:</TD>
    <TD>John Marciano</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>Title:</TD>
    <TD>Vice President</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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<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>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 11pt NewCenturySchlbk; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 20pt; text-align: left">99.1&nbsp;&nbsp;&nbsp;</TD><TD>Trustee&rsquo;s report in respect of the November 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">&nbsp;</P>

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

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



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<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>e50789ex99-1.htm
<DESCRIPTION>DISTRIBUTION REPORT
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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>

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<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>November 15, 2012</B></P>

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

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<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 11pt NewCenturySchlbk; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 20pt; text-align: left">(i)</TD><TD>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
&ldquo;Underlying Securities&rdquo;):</TD>
</TR></TABLE>

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<TABLE ALIGN="CENTER" CELLSPACING="0" CELLPADDING="0" STYLE="width: 60%; border-collapse: collapse; font: 11pt NewCenturySchlbk">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 60%">Interest:</TD>
    <TD STYLE="width: 40%; font-weight: bold; text-align: right">$0.00</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>Principal:</TD>
    <TD STYLE="font-weight: bold; text-align: right">0.00</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>Premium:</TD>
    <TD STYLE="font-weight: bold; text-align: right">0.00</TD></TR>
</TABLE>
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<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 11pt NewCenturySchlbk; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 20pt; text-align: left">(ii)</TD><TD>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 &ldquo;Swap
Agreement&rdquo;):</TD>
</TR></TABLE>

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<TABLE ALIGN="CENTER" CELLSPACING="0" CELLPADDING="0" STYLE="width: 60%; border-collapse: collapse; font: 11pt NewCenturySchlbk">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 60%; text-align: left; vertical-align: bottom">Interest:</TD>
    <TD STYLE="width: 40%; font-weight: bold; text-align: right; vertical-align: bottom">$268,333.33</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left; vertical-align: bottom">Principal:</TD>
    <TD STYLE="font-weight: bold; text-align: right; vertical-align: bottom">0.00</TD></TR>
</TABLE>
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<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 11pt NewCenturySchlbk; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 20pt; text-align: left">(iii)</TD><TD>the amounts of compensation received by the Trustee, for
the period relating to such Distribution Date:</TD>
</TR></TABLE>

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<TABLE ALIGN="CENTER" CELLSPACING="0" CELLPADDING="0" STYLE="width: 60%; border-collapse: collapse; font: 11pt NewCenturySchlbk">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 60%">Paid by the Trust:</TD>
    <TD STYLE="width: 40%; text-align: right"><B>$0.00</B></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>Paid by the Depositor:</TD>
    <TD STYLE="font-weight: bold; text-align: right">$1,000.00</TD></TR>
</TABLE>
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<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 11pt NewCenturySchlbk; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 20pt; text-align: left">(iv)</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 ALIGN="CENTER" CELLSPACING="0" CELLPADDING="0" STYLE="width: 60%; border-collapse: collapse; font: 11pt NewCenturySchlbk">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 79%">Interest:</TD>
    <TD STYLE="width: 21%; text-align: center; vertical-align: bottom"><B>$268,333.33</B></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>Principal:</TD>
    <TD STYLE="text-align: center; vertical-align: bottom"><B>$0.00</B></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>Unpaid Interest Accrued:</TD>
    <TD STYLE="text-align: center; vertical-align: bottom"><B>$0.00</B></TD></TR>
</TABLE>
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<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 11pt NewCenturySchlbk; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 20pt; text-align: left">(v)</TD><TD>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 &ldquo;Swap Agreement:</TD>
</TR></TABLE>

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<TABLE ALIGN="CENTER" CELLSPACING="0" CELLPADDING="0" STYLE="width: 60%; border-collapse: collapse; font: 11pt NewCenturySchlbk">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 60%">Interest:</TD>
    <TD STYLE="width: 40%; text-align: right">$<B>0.00</B></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>Principal:</TD>
    <TD STYLE="text-align: right"><B>$0.00</B></TD></TR>
</TABLE>
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<P STYLE="font: 11pt NewCenturySchlbk; margin: 0"><B>&nbsp;</B></P>

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<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 11pt NewCenturySchlbk; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 20pt; text-align: left">(vi)</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>

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<TR STYLE="vertical-align: top">
    <TD STYLE="width: 66%">Principal Amount:</TD>
    <TD STYLE="width: 34%; font-weight: bold">$35,000,000</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>Interest Rate:</TD>
    <TD STYLE="font-weight: bold">6.345%</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>Rating:</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Moody&rsquo;s Investor Service</TD>
    <TD STYLE="font-weight: bold; text-align: right">N/A</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Standard &amp; Poor&rsquo;s Rating Service</TD>
    <TD STYLE="font-weight: bold; text-align: right">BB+</TD></TR>
</TABLE>
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<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 11pt NewCenturySchlbk; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 20pt; text-align: left">(vii)</TD><TD>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.</TD>
</TR></TABLE>

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<TR STYLE="vertical-align: top">
    <TD STYLE="width: 76%">Notional Amount:</TD>
    <TD STYLE="width: 24%; font-weight: bold">$35,000,000</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>Interest Rate:</TD>
    <TD STYLE="font-weight: bold">3.000%</TD></TR>
</TABLE>
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<P STYLE="font: 11pt NewCenturySchlbk; margin: 0"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 11pt NewCenturySchlbk; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 20pt; text-align: left">(viii)</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>

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<TR STYLE="vertical-align: top">
    <TD STYLE="width: 79%">($25 Stated Amount)</TD>
    <TD STYLE="width: 21%; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>Principal Balance:</TD>
    <TD STYLE="font-weight: bold; text-align: right">$35,000,000</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>Reduction:</TD>
    <TD STYLE="text-align: right; border-bottom: Black 1pt solid"><B>(0)</B></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>Principal Balance 11/15/12</TD>
    <TD STYLE="font-weight: bold; text-align: right">$35,000,000</TD></TR>
</TABLE>
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