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8-K - FORM 8-K - MERRILL LYNCH DEPOSITOR INC PREFERREDPLUS TRUST SERIES ELP 1e41757-8k.htm

EXHIBIT 99.1

 DISTRIBUTION REPORT
FOR
PreferredPLUS TRUST SERIES ELP-1

DISTRIBUTION DATE
JANUARY 21, 2011
CUSIP NUMBER 740434766
CUSIP NUMBER 740434758

(i)

the amounts received by the Trustee as of the last such statement in respect of principal, interest and premium on the El Paso Corporation 7.75% Medium Term Notes due 2032 (the “Underlying Securities”):


Interest:

$0.00

Principal:

0.00

Premium:

0.00


(ii)

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


(iii) 

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:


Class A:

 

 

 

Interest:

$0.00

 

Principal:

$0.00

 

 

 

 

Unpaid Interest Accrued:

$0.00

 

 

 

Class B:

 

 

 

Interest:

$0.00

 

Principal:

$0.00

 

 

 

 

Unpaid Interest Accrued:

$0.00


(iv)

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:

$50,754,000

Interest Rate:

7.750%

Rating:

 

 

Moody’s Investor Service

Ba3

 

Standard & Poor’s Rating Service

BB-



(v)

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.


Class A: ($25 Stated Amount)

 

Initial Principal Balance:

$50,754,000

Reduction:

($50,754,000)

 

Principal Balance 01/21/11:

(0)

 

 

Class B: ($25 Notional Amount)

 

Initial Principal Balance:

$50,754,000

Reduction:

($50,754,000)

 

Principal Balance 01/21/11:

(0)