Merrill Lynch PPLUS GSC-2 reports Nov. 17, 2025 distribution

Merrill Lynch Depositor, Inc., on behalf of PPLUS Trust Series GSC-2 (NYSE: PYT), filed a current report to note a distribution to holders of the PPLUS Trust Certificates on November 17, 2025.

Accepted by SEC EDGAR 12/05/2025 - 01:31 PM EST Learn about SEC filing dates

Rhea-AI Filing Summary

Merrill Lynch Depositor, Inc., on behalf of PPLUS Trust Series GSC-2 (NYSE: PYT), filed a current report to note a distribution to holders of the PPLUS Trust Certificates on November 17, 2025. The detailed breakdown of this distribution is contained in a trustee’s report furnished as Exhibit 99.1.

The filing explains that PYT certificates are backed by underlying securities issued or guaranteed by The Goldman Sachs Group, Inc.. Investors are directed to review Goldman Sachs’ public reports, including its Forms 10-K and 10-Q, available through the SEC’s website and public reference facilities, for information about the underlying junior subordinated debentures and the issuer’s and guarantor’s condition. The report also states that neither the depositor nor the trustee prepared those Goldman Sachs documents, performed due diligence on them, or conducted an independent investigation into the financial condition or creditworthiness of the underlying issuer or guarantor.

8-K Event Classification

2 items: 8.01, 9.01

2 items

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, or exhibit attachments filed with this report.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What did Merrill Lynch Depositor, Inc. report in this PYT 8-K filing?

Merrill Lynch Depositor, Inc. reported that a distribution was made to holders of PPLUS Trust Certificates Series GSC-2 (PYT) on November 17, 2025, with details provided in Exhibit 99.1, the trustee’s distribution report.

What is Exhibit 99.1 in the Merrill Lynch PYT Form 8-K?

Exhibit 99.1 is the trustee’s report describing the November 17, 2025 distribution to holders of the PPLUS Trust Certificates Series GSC-2, including the specific distribution information.

How are PPLUS Trust Series GSC-2 (PYT) certificates supported?

The PYT certificates are supported by underlying securities, including junior subordinated debentures, issued or guaranteed by The Goldman Sachs Group, Inc., and investors are referred to Goldman Sachs’ SEC filings for detailed information.

Where can PYT investors find information on the underlying Goldman Sachs securities?

The filing points investors to Goldman Sachs’ periodic reports—including Forms 10-K and 10-Q—and other documents available through the SEC’s public reference room and the website at http://www.sec.gov.

Did Merrill Lynch or the trustee perform due diligence on Goldman Sachs’ filings for PYT?

No. The report states that neither the depositor nor the trustee participated in preparing Goldman Sachs’ reports, conducted due diligence on those documents, or performed an investigation into the financial condition or creditworthiness of the underlying issuer or guarantor.

What caution does the PYT filing give about the underlying Goldman Sachs information?

The filing notes there is no assurance that events affecting the underlying securities, junior subordinated debentures, issuer, or guarantor have not occurred or have not yet been publicly disclosed, which could affect the accuracy or completeness of the publicly available information.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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UNITED STATES
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): November 17^th, 2025

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 jurisdiction of incorporation)	(Commission File Number)	(I. R. S. Employer Identification No.)
One Bryant Park, 4th FL New York, NY		10036
(Address of principal executive offices)		(Zip Code)

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 8.01	Other events
	99.1	Distribution to holders of the PPLUS Trust Certificates Series GSC-2 on November 17, 2025.
		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 9.01	Financial Statements and Exhibits
	(a)	Financial statements of business acquired.
		None.
	(b)	Pro forma financial information
		None.
	(c)	Shell company transaction.
		Not applicable.
	(d)	Exhibits.
		99.1 Trustee’s report in respect of the November 17th, 2025 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: December 5, 2025	By:	/s/ Matthew Nelson
	Name:	Matthew Nelson
	Title:	President

EXHIBIT INDEX

99.1 Trustee’s report in respect of the November 17, 2025 distribution to holders of the PPLUS Trust Certificates Series GSC-2.