PPLUS Trust Series GSC-2 Distribution Report: $0 Underlying, $454K Swap Income
Ticker: PYT · Form: 8-K · Filed: May 15, 2025 · CIK: 1294808
| Field | Detail |
|---|---|
| Company | Pplus Trust Series Gsc-2 (PYT) |
| Form Type | 8-K |
| Filed Date | May 15, 2025 |
| Risk Level | low |
| Sentiment | neutral |
Sentiment: neutral
Topics: debt-securities, distribution-report, swap-agreement
Related Tickers: GS
TL;DR
PPLUS Trust Series GSC-2 got $0 from underlying bonds but $454K from a Merrill Lynch swap on May 15, 2025.
AI Summary
On May 15, 2025, PPLUS Trust Series GSC-2 filed an 8-K detailing its distribution report. The report shows $0.00 received for principal, interest, and premium on the underlying Goldman Sachs Capital I securities. However, the Trust received $454,392.11 in interest from its swap agreement with Merrill Lynch International.
Why It Matters
This filing clarifies the cash flows for PPLUS Trust Series GSC-2, indicating no direct principal or interest payments from the underlying securities but a significant interest payment from a derivative swap.
Risk Assessment
Risk Level: low — The filing is a routine distribution report and does not indicate any new or significant risks.
Key Numbers
- $454,392.11 — Swap Interest Received (Income from Merrill Lynch International swap agreement.)
- $0.00 — Underlying Principal/Interest (No principal or interest received from Goldman Sachs Capital I securities.)
Key Players & Entities
- PPLUS Trust Series GSC-2 (company) — Issuer of the securities
- May 15, 2025 (date) — Distribution date
- Goldman Sachs Capital I (company) — Issuer of underlying securities
- Merrill Lynch International (company) — Counterparty to the swap agreement
- $454,392.11 (dollar_amount) — Interest received from swap agreement
- $0.00 (dollar_amount) — Principal and interest received from underlying securities
FAQ
What is the total amount distributed to holders on the May 15, 2025 distribution date?
The filing indicates that the amount of distribution on the Distribution Date to Holders allocable to principal and premium, and interest on the Certificates of each Class, is to be detailed but the specific aggregate amount is not provided in the excerpt.
What is the purpose of the swap agreement with Merrill Lynch International?
The swap agreement is entered into between PPLUS Trust Series GSC-2 and Merrill Lynch International, and it generated $454,392.11 in interest for the Trust as of the last statement.
Are there any principal payments expected from the underlying securities?
As of the last statement for the May 15, 2025 distribution date, $0.00 was received by the Trustee in respect of principal on the underlying securities.
Who is the depositor for PPLUS Trust Series GSC-2?
Merrill Lynch Depositor Inc. is identified as the depositor in the filing.
What is the maturity date of the underlying Capital Securities?
The underlying Capital Securities are the 6.345% Capital Securities due 2034 issued by Goldman Sachs Capital I.
Filing Details
This Form 8-K (Form 8-K) was filed with the SEC on May 15, 2025 regarding PPLUS Trust Series GSC-2 (PYT).