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): February 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.
Not
applicable.
| 99.1 | Distribution
to holders of the PPLUS Trust Certificates Series GSC-2 on February 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
9.01 | Financial
Statements and Exhibits |
| (a) | Financial
statements of business acquired. |
None.
| (b) | Pro
forma financial information. |
None.
| (c) | Shell
company transaction. |
Not
applicable.
| 99.1 | Trustee’s
report in respect of the February 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:
February 17, 2026 |
By: |
/s/
Matthew
Nelson |
|
| |
Name: |
Matthew
Nelson |
|
| |
Title: |
President |
|
EXHIBIT
INDEX
| 99.1 | Trustee’s report in respect of the February 17, 2026 distribution to holders of the PPLUS Trust Certificates Series GSC-2. |
MERRILL LYNCH DEPOSITOR, INC. 8-K
EXHIBIT
99.1
DISTRIBUTION
REPORT
FOR
PPLUS
TRUST SERIES GSC-2
DISTRIBUTION
DATE
February
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: | |
$ | 443,950.34 | |
| | 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: | |
$ | 443,950.34 | * |
| |
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: | |
$ | 666,424.66 | * |
| | 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 2/17/26 | |
$ | 35,000,000 | |
