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SECURITIES AND EXCHANGE COMMISSION
 WASHINGTON, D.C. 20549
 
 FORM 10-K
 ANNUAL REPORT
 Pursuant to Section 13 or 15(d) of
The Securities Exchange Act of 1934
 
 For the fiscal year ended:
    
    Commission file number:December 31, 2006
    
    001-15485
 MERRILL LYNCH DEPOSITOR, INC.
   DELAWARE
(State or other 
jurisdiction of 
incorporation)
    
    13-3891329
(I. R. S. Employer
Identification No.)
 WORLD FINANCIAL CENTER, 
NEW YORK, NEW YORK
(Address of principal 
executive offices)
    
    10080
(Zip Code)
 
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TABLE OF CONTENTS  PART IITEM 1. BUSINESSITEM 1A. RISK FACTORSITEM 1B. UNRESOLVED STAFF COMMENTSITEM 2. PROPERTIESITEM 3. LEGAL PROCEEDINGSITEM 4. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERSPART IIITEM 5. MARKET FOR REGISTRANTS COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIESITEM 6. SELECTED FINANCIAL DATAITEM 7. MANAGEMENTS DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONSITEM 7A. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISKITEM 8. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATAITEM 9. CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL DISCLOSUREITEM 9A. CONTROLS AND PROCEDURESITEM 9B. OTHER INFORMATIONPART IIIITEM 10. DIRECTORS AND EXECUTIVE OFFICERS OF THE REGISTRANTITEM 11. EXECUTIVE COMPENSATIONITEM 12. SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED STOCKHOLDER MATTERSITEM 13. CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONSITEM 14. PRINCIPAL ACCOUNTING FEES AND SERVICESPART IVITEM 15. EXHIBITS, FINANCIAL STATEMENT SCHEDULESSIGNATURESEX-31.1: CERTIFICATIONEX-99.1: TRUSTEE'S ANNUAL COMPLIANCE CERTIFICATEEX-99.2: REPORT OF DELOITTE & TOUCHE LLPEX-99.3: REPORT OF ERNST & YOUNG LLP    Table of Contents    
  
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
    
    the purchase price of the trust certificates,
    
    when you acquire your trust certificates, and
    
    whether the underlying securities guarantor exercises its
option to redeem the junior subordinated debentures.
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
    
    a Special Event occurs and the underlying securities
guarantor exercises its right to redeem all of the junior
subordinated debentures,
    
    the underlying securities are paid or sold prior to
maturity as a result of a default, or
    
    the underlying securities guarantor ceases to file reports
under the Exchange Act,
       (1)
    
    there is a payment default on any underlying securities,(2)
    
    there is another type of default which accelerates the
maturity of the underlying securities, or(3)
    
    the underlying securities guarantor ceases to file Exchange
Act reports.
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
    
    directing the Indenture Trustee to enforce the terms of the
junior subordinated debentures or
    
    instituting a legal proceeding against the underlying
securities guarantor to enforce the Indenture Trustees
rights under the junior subordinated debentures.
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
    
    subordinate and junior to all of the underlying securities
guarantors obligations;
    
    equal with the most senior preferred or preference stock
previously issued or that the underlying securities
guarantor may issue;
    
    equal with any guarantee that the underlying securities
guarantor may offer in respect of any capital or preferred
securities issued by other trusts to be established by the
underlying securities guarantor that are similar to the
underlying securities; and
    
    senior to the underlying securities guarantors common
stock.
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
    
    any accrued and unpaid distributions that are required to
be paid on the underlying securities, to the extent the
underlying securities issuer has funds available for
payment;
    
    the applicable redemption price of the underlying
securities called for redemption, to the extent the
underlying securities issuer has funds available for
redemption; and
    
    upon a voluntary or involuntary dissolution or liquidation
of the underlying securities issuer, the lesser of
    
    the aggregate of the liquidation amount and all accrued and
unpaid distributions on the underlying securities to the
date of the payment, to the extent the underlying
securities issuer has funds available for payment, and
    
    the amount of the underlying securities issuers assets
remaining available for distribution to underlying
securities holders upon the underlying security issuers
liquidation.
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(a)
    
    Securities Authorized For Issuance Under Equity Compensation
Plans: None.(b)
    
    Security Ownership Of Certain Beneficial Owners: None.(c)
    
    Security Ownership Of Management: Not Applicable.(d)
    
    Changes In Control: None.
 
   
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31.1
    
    Certification of Vice President of Registrant dated March 26, 2007, pursuant to Rules 13a-14 and 15d-14 under the
Securities Exchange Act of 1934, as adopted pursuant to
Section 302 of the Sarbanes-Oxley Act of 2002, with
respect to the Registrants Annual Report on Form 10-K
for the year ended December 31, 2006.99.1.
    
    Trustees Annual Compliance Certificate dated
March 22,
2007.99.2.
    
    Report of Deloitte & Touche LLP, Independent Registered
Public Accounting Firm, dated March 26, 2007,
Registrants Assertion on Compliance with PPLUS Minimum
Servicing Standards dated March 26, 2007 and PPLUS
Minimum Servicing Standards.99.3.
    
    Report of Ernst & Young LLP, Independent Registered
Public Accounting Firm, dated March 1, 2007, and
The Bank of New Yorks Assertion on Compliance with
PPLUS Minimum Servicing Standards dated March 1,
2007 and PPLUS Minimum Servicing Standards.
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MERRILL LYNCH DEPOSITOR, INC.Date: March 26, 2007
    By:
    /s/ Jason LiddellName:
    Jason LiddellTitle:
    Vice President