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EXHIBIT 99.1
DISTRIBUTION REPORT
FOR
PUBLIC STEERS(R) SERIES 1998 MCIC-P1 TRUST
DISTRIBUTION DATE
DECEMBER 15, 2000
CUSIP NUMBER 744593AE4
(i) the amounts received by the Trustee as of the last such
statement in respect of principal, interest and premium on the
MCIC Communications Corporation Debentures due 2027 (the
"Underlying Securities"):
Interest: $1,781,250.00
Principal: 0.00
Premium: 0.00
(ii) the amounts of compensation received by the Trustee, for the
period relating to the Distribution Date:
Paid by the Trust: $.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: $1,781,250.00
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: $50,000,000
Interest Rate: 7.125%
Rating:
Moody's Investor Service A2
Standard & Poor's Rating Service A
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(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: $50,000,000
Reduction: ($ 0)
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Principal Balance 12/15/00: $50,000,000
