PPLUS Trust Series GSC-2 Files 2023 Annual Report (10-K)

TL;DR

<b>PPLUS Trust Series GSC-2 has filed its 2023 annual report on Form 10-K, detailing its financial status and operations.</b>

AI Summary

PPLUS Trust Series GSC-2 (PYT) filed a Annual Report (10-K) with the SEC on March 22, 2024. PPLUS Trust Series GSC-2 filed its annual report on Form 10-K for the fiscal year ended December 31, 2023. The registrant is Merrill Lynch Depositor, Inc. on behalf of PPLUS Trust Series GSC-2. The PPLUS Trust Certificates Series GSC-2 are listed on The New York Stock Exchange under the trading symbol PYT. The company is incorporated in Delaware and its principal executive offices are located in New York, NY. The filing indicates the registrant is a non-accelerated filer and not a well-known seasoned issuer.

Why It Matters

For investors and stakeholders tracking PPLUS Trust Series GSC-2, this filing contains several important signals. This 10-K filing provides crucial financial and operational data for PPLUS Trust Series GSC-2 for the fiscal year 2023, essential for investors to assess performance and risks. The report confirms the listing of PPLUS Trust Certificates Series GSC-2 on the NYSE under PYT, indicating ongoing market activity and regulatory compliance.

Risk Assessment

Risk Level: low — PPLUS Trust Series GSC-2 shows low risk based on this filing. The filing is a standard annual report for a trust, with no immediate indicators of significant financial distress or operational issues.

Analyst Insight

Review the detailed financial statements and risk factors within the 10-K to understand the specific performance and potential risks associated with PPLUS Trust Series GSC-2.

Key Numbers

• 2023-12-31 — Fiscal Year End (Conformed period of report)
• 001-32247 — Commission File Number (SEC file number)
• PYT — Trading Symbol (Securities registered pursuant to Section 12(b) of the Act)
• Non-accelerated filer — Filer Status (Indicates filer classification)

Key Players & Entities

• PPLUS Trust Series GSC-2 (company) — Registrant name
• Merrill Lynch Depositor, Inc. (company) — Filer name
• PYT (company) — Trading symbol
• The New York Stock Exchange (company) — Exchange where securities are listed
• Delaware (company) — State of incorporation
• New York (company) — Principal executive offices location
• 2023-12-31 (date) — Fiscal year end
• 2024-03-22 (date) — Filing date

FAQ

Industry Context

The filing pertains to a trust issuing asset-backed debt securities, a segment of the structured finance market.

Regulatory Implications

The filing is made under the Securities Exchange Act of 1934, specifically Section 13 or 15(d), and adheres to SEC regulations for annual reports.

What Investors Should Do

1. Analyze the financial statements for PPLUS Trust Series GSC-2 for the fiscal year ended 12/31/2023.
2. Review any disclosed risk factors or management discussion and analysis sections.
3. Monitor future filings for any changes in the trust's financial health or operational status.

Key Dates

• 2023-12-31: Fiscal Year End — Marks the end of the reporting period for the 10-K.
• 2024-03-22: Filing Date — Date the 10-K was officially filed with the SEC.

Year-Over-Year Comparison

This is the initial 10-K filing for the fiscal year 2023, following the previous year's reporting period.

Filing Documents

• pplus-10k_123123.htm (10-K) — 133KB
• ex31-1.htm (EX-31.1) — 8KB
• ex97.htm (EX-97.) — 12KB
• ex99-1.htm (EX-99.1) — 10KB
• ex99-2.htm (EX-99.2) — 42KB
• ex99-3.htm (EX-99.3) — 40KB
• ex991001.jpg (GRAPHIC) — 2KB
• 0001999371-24-003850.txt (&nbsp;) — 250KB

RISK FACTORS

ITEM 1A. RISK FACTORS 3

UNRESOLVED STAFF COMMENTS

ITEM 1B. UNRESOLVED STAFF COMMENTS 11

CYBERSECURITY

ITEM 1C. CYBERSECURITY 11

PROPERTIES

ITEM 2. PROPERTIES 11

LEGAL PROCEEDINGS

ITEM 3. LEGAL PROCEEDINGS 11

MINE SAFETY DISCLOSURES

ITEM 4. MINE SAFETY DISCLOSURES 11 PART II 11 ITEM 5. MARKET FOR REGISTRANT&rsquo;S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES 11

[RESERVED]

ITEM 6. [RESERVED] 11

MANAGEMENT&rsquo;S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

ITEM 7. MANAGEMENT&rsquo;S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS 11

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

ITEM 7A. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK 11

FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA

ITEM 8. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA 12

CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL DISCLOSURE

ITEM 9. CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL DISCLOSURE 12

CONTROLS AND PROCEDURES

ITEM 9A. CONTROLS AND PROCEDURES 12

OTHER INFORMATION

ITEM 9B. OTHER INFORMATION 12

DISCLOSURE REGARDING FOREIGN JURISDICTIONS THAT PREVENT INSPECTIONS

ITEM 9C. DISCLOSURE REGARDING FOREIGN JURISDICTIONS THAT PREVENT INSPECTIONS 12 PART III 12

DIRECTORS, EXECUTIVE OFFICERS AND CORPORATE GOVERNANCE

ITEM 10. DIRECTORS, EXECUTIVE OFFICERS AND CORPORATE GOVERNANCE 12

EXECUTIVE COMPENSATION

ITEM 11. EXECUTIVE COMPENSATION 12

SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED STOCKHOLDER MATTERS

ITEM 12. SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED STOCKHOLDER MATTERS 12

CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS, AND DIRECTOR INDEPENDENCE

ITEM 13. CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS, AND DIRECTOR INDEPENDENCE 12

PRINCIPAL ACCOUNTING FEES AND SERVICES

ITEM 14. PRINCIPAL ACCOUNTING FEES AND SERVICES 12 PART IV 13

EXHIBITS, FINANCIAL STATEMENT SCHEDULES

ITEM 15. EXHIBITS, FINANCIAL STATEMENT SCHEDULES 13

SIGNATURES

SIGNATURES EX-31.1: CERTIFICATION EX-97: POLICY RELATING TO RECOVERY OF ERRONEOUSLY AWARDED COMPENSATION EX-99.1: TRUSTEE'S ANNUAL COMPLIANCE CERTIFICATE EX-99.2: REPORT OF PRICEWATERHOUSECOOPERS LLP EX-99.3: REPORT OF KPMG LLP PART I ITEM 1. BUSINESS Not Applicable. 2 ITEM 1A. RISK FACTORS Your investment in the trust certificates will involve certain risks. You should carefully consider the following discussion of risks, and the other information included or incorporated by reference in the applicable prospectus supplement and the accompanying prospectus. You should also carefully consider any risk factors and other information that the underlying securities guarantor may file in its Exchange Act reports as referenced in the &ldquo;Documents Incorporated by Reference&rdquo; section above. IF THE UNDERLYING SECURITIES ARE REDEEMED PRIOR TO THE MATURITY DATE OF THE UNDERLYING SECURITIES OR IF ANY CALL WARRANTS ARE EXERCISED PRIOR TO THE STATED MATURITY DATE, YOU MAY NOT BE ABLE TO REINVEST YOUR REDEMPTION OR CALL PROCEEDS AT A YIELD COMPARABLE TO THE YIELD YOU WOULD HAVE RECEIVED ON YOUR TRUST CERTIFICATES The yield you will realize on your trust certificates depends upon several factors, including: &bull; whether an early termination payment is payable by the trust to the swap counterparty, &bull; the purchase price of trust certificates, &bull; when you acquire your trust certificates, &bull; whether the underlying securities issuer exercises its option to redeem the underlying securities, and &bull; whether the call warrant holders exercise their optional rights to purchase outstanding trust certificates. The underlying securities issuer has the right to redeem the underlying securities in whole or in part at its option or in part if it becomes obligated to pay additional amounts. Because the underlying securities issuer has the right to redeem the underlying securities early, we cannot assure you that the trust will be

CYBERSECURITY

ITEM 1C. CYBERSECURITY Not Applicable. ITEM 2. PROPERTIES None. ITEM 3. LEGAL PROCEEDINGS None. ITEM 4. MINE SAFETY DISCLOSURES Not Applicable. PART II ITEM 5. MARKET FOR REGISTRANT&rsquo;S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES

View Full Filing

View this 10-K filing on SEC EDGAR