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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D. C. 20549
--------------------------
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
The Securities Exchange Act of 1934
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Date of Report (Date of earliest event reported) : December 1, 1998
MERRILL LYNCH DEPOSITOR, INC.
(ON BEHALF OF PUBLIC STEERS(R) SERIES 1998 IBM Z-2 TRUST)
(Exact name of registrant as specified in its charter)
DELAWARE 333-29015 13-3891329
(State or other (Commission (I. R. S. Employer
jurisdiction of File Number) Identification No.)
incorporation)
WORLD FINANCIAL CENTER, 10281
NEW YORK, NEW YORK (Zip Code)
(Address of principal
executive offices)
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Registrant's telephone number, including area code: (212) 449-1000
INFORMATION TO BE INCLUDED IN REPORT
ITEM 1. CHANGES IN CONTROL OF REGISTRANT
Not Applicable
ITEM 2. ACQUISITION OF DISPOSITION OF ASSETS
Not Applicable
ITEM 3. BANKRUPTCY OR RECEIVERSHIP
Not Applicable
ITEM 4. CHANGES IN REGISTRANT'S CERTIFYING ACCOUNTANT
Not Applicable
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ITEM 5. OTHER EVENTS
99.1 Distribution to holders of the Public STEERS(R)
Series 1998 IBM Z-2 Trust Class A Certificates on
December 1, 1998.
ITEM 6. RESIGNATION OF REGISTRANT'S DIRECTORS
Not Applicable.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS
(a) Financial statements of business acquired.
Not applicable
(b) Pro forma financial information.
Not applicable.
(c) Exhibits.
99.1 Trustee's report in respect of the December
1, 1998 distribution to holders of the
Public STEERS(R) Series 1998 IBM Z-2 Trust
Class A Certificates.
ITEM 8. CHANGE IN FISCAL YEAR
Not Applicable.
ITEM 9. SALES OF EQUITY SECURITIES PURSUANT TO REGULATION S
Not Applicable
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of
1934, the registrant has duly caused this report to be signed on its behalf by
the undersigned, hereunto duly authorized.
MERRILL LYNCH DEPOSITOR, INC.
Date: 12/15/98 By: /s/ Frank D. Ronan
Name: Frank D. Ronan
Title: President
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EXHIBIT INDEX
99.1 Trustee's report in respect of the December 1, 1998
distribution to holders of the Public STEERS(R) Series 1998
IBM Z-2 Trust Class A Certificates.
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EXHIBIT 99.1
DISTRIBUTION REPORT
FOR
PUBLIC STEERS(R) SERIES 1998 IBM Z-2 TRUST
DISTRIBUTION DATE
DECEMBER 1, 1998
CUSIP NUMBER 744593AC8
(i) the amounts received by the Trustee as of the last such statement
in respect of principal, interest and premium on the International Business
Machines Corporation Debentures due 2096 (the "Underlying Securities"):
Interest: $3,384,375.00
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:
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: $2,426,762.43
Principal: $957,000.00
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: $95,000,000
Interest Rate: 7.125%
Rating:
Moody's Investor Service A1
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Standard & Poor's Rating Service A
(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:
Initial Principal Balance: $76,586,000
Reduction: ($1,884,000)
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Principal Balance 12/1/98: $74,702,000
Class B:
Principal Balance
at Maturity: $95,000,000
