EXHIBIT 99.1
DISTRIBUTION REPORT
FOR
PPLUS TRUST CERTIFICATES SERIES VAL-1
DISTRIBUTION DATE
MARCH 3, 2011
CUSIP NUMBER 73941X403
CUSIP NUMBER 73941X502
| (i) |
|
the
amounts received by the Trustee as of the last such statement in respect of principal,
interest and premium on the Valero Energy Corporation 7.50% 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: |
$1,000.00 |
| (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: |
$694,792.00 |
| Principal: |
$25,000,000.00 |
| |
|
| Unpaid Interest Accrued: |
$0.00 |
| |
| Class B: |
| Interest: |
$681,363.00 |
| 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: |
$25,000,000.00 |
| Interest Rate: |
7.50% |
| Rating: |
| Moody’s Investor Service |
Baa2 |
| Standard & Poor’s Rating Service |
BBB |
| (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: |
$25,000,000.00 |
| Reduction: |
(0) |
| |
|
| Principal Balance 03/03/11: |
$25,000,000.00 |
| Class B: ($25 Notional Amount) |
| Initial Principal Balance: |
$25,000,000.00 |
| Reduction: |
(0) |
| |
|
| Principal Balance 03/03/11: |
$25,000,000.00 |
