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EXHIBIT 1
DISTRIBUTION REPORT
FOR
PUBLIC STEERS (R) SERIES 1998 HLT-1 TRUST
DISTRIBUTION DATE
OCTOBER 15, 2000
CLASS A CUSIP NUMBER 744593AK0
CLASS B CUSIP NUMBER 744593AL8
(i) the amounts received by the Trustee as of the last such statement in
respect of principal, interest and premium on the Hilton Hotels
Corporation Debentures due 2007 (the "Underlying Securities"):
Interest: $1,456,360.50
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: $1,282,330.00
Principal: $0.00
Class B:
Interest: $174,030.50
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.
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Principal Amount: $36,638,000
Interest Rate: 7.195%
Rating:
Moody's Investor Service BAA1
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:
Principal Balance: $36,638,000
Class B:
Principal Balance $36,638,000
Reduction due to any Realized Losses: N/A
