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, 2011
    
    001-16667
 MERRILL LYNCH DEPOSITOR, INC.
   DELAWARE
(State or other 
jurisdiction of 
incorporation)
    
    13-3891329
(I. R. S. Employer
Identification No.)
 ONE BRYANT PARK, 4th FL STRUCTURED CREDIT TRADINGNEW YORK, NEW YORK
    (Address of principal 
    executive offices)
    
        10036
(Zip Code)
 
       o þ
  o þ
  þ o
  o o
 o
 o o þSmaller reporting  filer o
  o þ
     DOCUMENTS INCORPORATED BY REFERENCE


---







---

TABLE OF CONTENTS
  PART IITEM 1. BUSINESSITEM 1A. RISK FACTORSITEM 1B. UNRESOLVED STAFF COMMENTSITEM 2. PROPERTIESITEM 3. LEGAL PROCEEDINGSITEM 4. MINE SAFETY DISCLOSURESPART 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,  EXECUTIVE OFFICERS AND CORPORATE GOVERNANCEITEM 11. EXECUTIVE COMPENSATIONITEM 12. SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED STOCKHOLDER MATTERSITEM 13. CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS, AND DIRECTOR INDEPENDENCEITEM 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 PRICEWATERHOUSECOOPERS LLPEX-99.3: REPORT OF KPMG  LLP  
 
   
  
    2


---







---


    
    the purchase price of the trust certificates,
    
    when you acquire your trust certificates, and
    
    whether the call warrant holders exercise their optional
rights to purchase outstanding trust certificates.
     3


---







---


    
    if a default occurs, the market value of the underlying
securities may be adversely affected and the proceeds of
their disposition may be lower than the aggregate present
value or stated amount (if applicable) of the trust
certificates; and
    
    in either event, any distribution of funds or underlying
securities by the trust to the trust certificateholders
will be done in accordance with the allocation ratio as
described in the applicable prospectus supplement relating
to the trust certificates. The funds or aggregate principal
amount of underlying securities you receive on that
distribution may be less than the present value or stated
amount (if applicable) of your trust certificates.
   
    
    there is a payment default on any underlying securities,
    
    there is another type of default that accelerates the
maturity of the underlying securities, or
    
    the underlying securities issuer ceases to file Exchange
Act reports.
  4


---







---

5


---







---

6


---







---

(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.
 
   
   7


---







---

31.1.
    
        Certification of the Vice President of Registrant
dated March 9, 2012, 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, 2011.99.1.
    
        Trustee’s Annual Compliance Certificate dated
 March 5, 2012.99.2.
    
        Report of PricewaterhouseCoopers LLP, Independent
Registered Public Accounting Firm, dated
 March 6, 2012, Registrant’s Assertion on
Compliance with PPLUS Minimum Servicing
Standards dated  March  6, 2012 and PPLUS
Minimum Servicing Standards.99.3.
    
        Report of KPMG  LLP, Independent
Registered Public Accounting Firm, dated
 February 24, 2012, The Bank of New York Mellon’s
Assertion on Compliance with PPLUS Minimum
Servicing Standards dated  February 24, 2012
and PPLUS Minimum Servicing Standards.
     8


---







---

MERRILL LYNCH DEPOSITOR, INC.Date:  March  9, 2012
    By:
      /s/ John MarcianoName:
      John MarcianoTitle:
      Vice President


---