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  4. [8-K] PPLUS Trust Series GSC-2 Reports Material Event

PPLUS Trust GSC-2 (PYT) posts interest only, no principal

Filing Impact
(High)
Filing Sentiment
(Neutral)
Form Type
8-K

Rhea-AI Filing Summary

Merrill Lynch Depositor, Inc., on behalf of PPLUS Trust Series GSC-2 (PYT), reported a distribution for the August 17, 2026 distribution date. The report lists total interest of $1,110,375.00 and additional interest line items of $435,256.03, with $0.00 principal distributed and $0.00 unpaid accrued interest.

The trust’s underlying principal balance remains $35,000,000 as of August 17, 2026, with a stated amount of $25 per security and no reduction in principal. One tranche carries a 6.345% interest rate and an S&P rating of BB+ (Moody’s: N/A), and a related notional amount of $35,000,000 bears interest at 3.00%.

Holders are directed to the Exchange Act reports of The Goldman Sachs Group, Inc. for information on the underlying securities and junior subordinated debentures, and the depositor and trustee state they have not independently investigated the financial condition or creditworthiness of the underlying issuer or guarantor.

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Item 8.01 Other Events Other
Voluntary disclosure of events the company deems important to shareholders but not covered by other items.
Item 9.01 Financial Statements and Exhibits Exhibits
Financial statements, pro forma financial information, and exhibit attachments filed with this report.
Total Interest (Distribution Date) $1,110,375.00 Interest reported for PPLUS Trust Series GSC-2 distribution date August 17, 2026
Interest Line Item $435,256.03 Interest amount listed in the distribution report with $0.00 principal and $0.00 unpaid interest
Principal Amount $35,000,000 Principal amount of PPLUS Trust Series GSC-2; balance unchanged as of August 17, 2026
Trust Interest Rate 6.345% Interest rate associated with the $35,000,000 principal amount
Notional Interest Rate 3.00% Interest rate on the $35,000,000 notional amount
Standard & Poor’s Rating BB+ Standard & Poor’s Rating Service assessment for PPLUS Trust Series GSC-2
Moody’s Rating N/A Moody’s Investors Service rating status for the trust securities
junior subordinated debentures financial
"the underlying securities and the junior subordinated debentures or the underlying securities issuer"
A junior subordinated debenture is a long-term loan a company issues to investors that sits low in the repayment order: holders get paid after most other creditors but usually before shareholders. Because it offers higher interest to compensate for greater risk, it can boost income for investors but also carries bigger chances of loss if the issuer faces financial trouble. Think of it as standing near the back of a line for repayment — you get a bigger reward but a smaller guarantee.
Public Reference Room regulatory
"information about the operation of the Public Reference Room by calling the SEC"
notional amount financial
"Notional Amount: | $35,000,000 Interest Rate: | 3.00%"
Notional amount is the headline value assigned to a financial contract used only to calculate payments or obligations, not the cash exchanged up front. For investors it shows the scale of exposure and potential risk from contracts tied to interest rates, currencies or other assets—think of it as the 'price tag' used to work out bills on a loan even when that full sum never actually changes hands.
Exchange Act reports regulatory
"periodic reports, including annual reports on Form 10-K, quarterly reports on Form 10-Q"

FAQ

What distribution did PPLUS Trust Series GSC-2 (PYT) report for August 17, 2026?
PPLUS Trust Series GSC-2 reported $1,110,375.00 in interest for the August 17, 2026 distribution date, with $0.00 principal and $0.00 unpaid accrued interest. The principal balance remained $35,000,000, indicating only interest was reflected in this distribution cycle.

What is the principal balance of PPLUS Trust Series GSC-2 (PYT) after the August 17, 2026 distribution?
The principal balance of PPLUS Trust Series GSC-2 remained $35,000,000 as of August 17, 2026, with a noted reduction of (0). This means no principal was paid down in this period and the entire principal amount continues outstanding on the same stated terms.

What interest rates apply to the PPLUS Trust Series GSC-2 (PYT) securities?
The filing lists a principal amount of $35,000,000 bearing interest at 6.345%, and a related notional amount of $35,000,000 with a 3.00% interest rate. These figures describe different referenced amounts, both tied to the trust’s structure and cash flow profile.

How is PPLUS Trust Series GSC-2 (PYT) rated by credit rating agencies?
For PPLUS Trust Series GSC-2, the Standard & Poor’s Rating Service rating is BB+, while the Moody’s Investors Service rating is listed as N/A. These ratings relate to the trust securities and inform investors about the assessed credit quality.

Where can PYT investors find information about the underlying Goldman Sachs securities?
Investors are referred to The Goldman Sachs Group, Inc.’s Exchange Act reports, including Forms 10-K and 10-Q, filed under Commission file number 001-14965. These are available through the SEC’s Public Reference Room and electronically on http://www.sec.gov for detailed underlying security information.

Did PPLUS Trust Series GSC-2 (PYT) report any unpaid interest or principal shortfalls?
The distribution report shows $0.00 unpaid interest accrued and $0.00 principal distributed for this date. It also indicates no reduction to the $35,000,000 principal balance, suggesting scheduled distributions did not create reported shortfalls in this period.

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Understanding 8-K Material Events →
 

 

SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D. C. 20549

 

 

FORM 8-K

 

CURRENT REPORT

 

Pursuant to Section 13 or 15(d) of
The Securities Exchange Act of 1934

 

 

Date of Report (Date of earliest event reported): August 17th, 2026

 

MERRILL LYNCH DEPOSITOR, INC.
(on behalf of PPLUS TRUST SERIES GSC-2)
(Exact name of registrant as specified in its charter)

 

Delaware   001-32247   13-3891329
(State or other   (Commission   (I. R. S. Employer
jurisdiction  of   File Number)   Identification No.)
incorporation)        

 

One Bryant Park, 4th FL
New York, NY		   10036
(Address of principal   (Zip Code)
executive offices)    

 

Registrant’s telephone number, including area code: (646) 855-6745

 

INFORMATION TO BE INCLUDED IN REPORT

 

Check the appropriate box below if the Form 8K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2.):

 

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

Securities registered pursuant to Section 12(b) of the Act:

 

Title of each class Trading
Symbol(s)		 Name of each exchange on which registered
PPLUS Trust Series GSC-2 PYT NYSE

 

 

 

 

Section 1.Registrant’s Business and Operations

 

Not applicable.

 

Section 2.Financial Information

 

Not applicable.

 

Section 3.Securities and Trading Markets

 

Not applicable.

 

Section 4.Matters Related to Accountants and Financial Statements

 

Not applicable.

 

Section 5.Corporate Governance and Management

 

Not applicable.

 

Section 6.Asset-Backed Securities

 

Not applicable.

 

Section 7.Regulation FD

 

Not applicable.

 

Section 8.Other Events

 

Item 8.01Other events

 

99.1Distribution to holders of the PPLUS Trust Certificates Series GSC-2 on August 17, 2026.

 

For information with respect to the underlying securities held by PPLUS Trust Series GSC-2, please refer to The Goldman Sachs Group, Inc.’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 “SEC”). 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’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’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.

 

 

 

 

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’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.

 

Section 9.Financial Statements and Exhibits

 

Item 9.01Financial Statements and Exhibits

 

(a)Financial statements of business acquired.

 

None.

 

(b)Pro forma financial information.

 

None.

 

(c)Shell company transaction.

 

Not applicable.

 

(d)Exhibits.

 

99.1Trustee’s report in respect of the August 17, 2026 distribution to holders of the PPLUS Trust Certificates Series GSC-2.

 

 

 

 

SIGNATURES

 

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.

 

  MERRILL LYNCH DEPOSITOR, INC.
     
Date: August 17, 2026 By: /s/ Matthew Nelson
  Name: Matthew Nelson
  Title: President

 

 

 

 

EXHIBIT INDEX

 

99.1Trustee’s report in respect of the August 17, 2026 distribution to holders of the PPLUS Trust Certificates Series GSC-2.

 

 

 

MERRILL LYNCH DEPOSITOR 8-K

EXHIBIT 99.1

 

DISTRIBUTION REPORT
FOR
PPLUS TRUST SERIES GSC-2

 

DISTRIBUTION DATE
August 17th, 2026
CUSIP NUMBER 73941X684

 

(i)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 “Underlying Securities”):

 

Interest: $1,110,375.00
Principal: $0.00
Premium: $0.00

 

(ii)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 International (the “Swap Agreement”):

 

Interest: $435,256.03
Principal  $0.00

 

(iii)the amounts of compensation received by the Trustee, for the period relating to such Distribution Date:

 

Paid by the Trust:        $0.00
Paid by the Depositor:      $0.00

 

(iv)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:

 

Interest: $435,256.03*
Principal: $0.00
Unpaid Interest Accrued: $0.00

 

(v)the amount of distribution on such Distribution Date to Merrill Lynch International in respect of the Interest Rate Swap entered into between PPLUS Trust Series GSC-2 and Merrill Lynch International (the “Swap Agreement:

 

Interest: $675,118.97*
Principal: $0.00

 

 

 

 

●This is a net amount, reflecting netting of amounts receivable by the Trust and Merrill Lynch International under the Swap Agreement.

 

(vi)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.

 

Principal Amount: $35,000,000
Interest Rate: 6.345%
   
Rating:  
Moody’s Investor Service N/A
Standard & Poor’s Rating Service BB+

 

(vii)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.

 

Notional Amount: $35,000,000
Interest Rate: 3.00%

 

(viii)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.

 

($25 Stated Amount)  
Principal Balance: $35,000,000
Reduction:  (0)
Principal Balance 8/17/26 $35,000,000

 

 

Source: View Original Filing on SEC EDGAR

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