UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 10-D
ASSET-BACKED ISSUER
DISTRIBUTION REPORT PURSUANT TO SECTION 13 OR 15(d) OF
THE SECURITIES EXCHANGE ACT OF 1934
For the semiannual distribution period from
April 18, 2006 to October 15, 2006
Commission File Number of issuing entity: 001-32824
PPLUS TRUST SERIES RRD-1
(Exact name of registrant as specified in its charter)
Commission File Number of depositor: 333-116208
MERRILL LYNCH DEPOSITOR, INC.
(Exact name of depositor as specified in its charter)
MERRILL LYNCH DEPOSITOR, INC.
(Exact name of sponsor as specified in its charter)
NEW YORK 13-3091329
(State or other jurisdiction or incorporation or (I.R.S. Employer
organization of the issuing entity) Identification No.)
WORLD FINANCIAL CENTER, NEW YORK, 10080
NEW YORK (Zip Code)
(Address of principal executive
offices of the issuing entity)
(212) 449-1000
(Telephone number, including area code)
Registered/reporting pursuant to (check one)
<TABLE>
<CAPTION>
Name of exchange
Title of Class Section 12(b) Section 12(g) Section 15(d) (If Section 12(b))
<S> <C> <C> <C> <C>
PPLUS Class A Callable Trust
Certificates Series RRD-1 [X] [ ] [ ] NEW YORK STOCK EXCHANGE
PPLUS Class B Callable Trust
Certificates Series RRD-1 [ ] [ ] [X]
</TABLE>
Indicate by check mark whether the registrant (1) has filed all reports required
to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during
the preceding 12 months (or for such shorter period that the registrant was
required to file such reports), and (2) has been subject to such filing
requirements for the past 90 days. Yes [X] No [ ]
PART I - DISTRIBUTION INFORMATION
Item 1. DISTRIBUTION AND POOL PERFORMANCE INFORMATION.
On October 16, 2006, a distribution was made to holders of PPLUS
Callable Trust Certificates Series RRD-1. The distribution report is attached as
Exhibit 99.1 to this Form 10-D.
PART II - OTHER INFORMATION
ITEM 2. LEGAL PROCEEDINGS.
Not Applicable.
ITEM 3. SALES OF SECURITIES AND USE OF PROCEEDS.
Not Applicable.
ITEM 4. DEFAULTS UPON SENIOR SECURITIES.
Not Applicable.
ITEM 5. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS.
Not Applicable.
ITEM 6. SIGNIFICANT OBLIGORS OF POOL ASSETS.
For information with respect to the underlying securities held by PPLUS
Trust Series RRD-1, please refer to R.R. Donnelley & Sons Company's (Commission
file number 001-04694) periodic reports, including annual reports on Form 10-K,
quarterly reports on Form 10-Q and current reports on Form 8-K, and other
information on file with the Securities and Exchange Commission (the "SEC"). You
can read and copy these reports and other information at the public reference
facilities maintained by the SEC at Room 1580, 100 F Street, NE, Washington,
D.C. 20549. You may obtain copies of this material for a fee by writing to the
SEC's Public Reference Section of the SEC at 100 F Street, NE, Washington, D.C.
20549. You may obtain information about the operation of the Public Reference
Room by calling the SEC at 1-800-SEC-0330. You can also access some of this
information electronically by means of the SEC's website on the Internet at
http://www.sec.gov, which contains reports, proxy and information statements and
other information that the underlying securities issuer has filed electronically
with the SEC.
Although we have no reason to believe the information concerning the
underlying securities or the underlying securities issuer contained in the
underlying securities issuer's Exchange Act reports is not reliable, neither the
depositor nor the trustee participated in the preparation of such documents or
made any due diligence inquiry with respect to the information provided therein.
No investigation with respect to the underlying securities issuer (including,
without limitation, no investigation as to its financial condition or
creditworthiness) or of the underlying securities has been made. You should
obtain and evaluate the same information concerning the underlying securities
issuer as you would obtain and evaluate if your investment were directly in the
underlying securities or in other securities issued by the underlying securities
issuer. There can be no assurance that events affecting the underlying
securities or the underlying securities issuer have not occurred or have not yet
been publicly disclosed which would affect the accuracy or completeness of the
publicly available documents described above.
ITEM 7. SIGNIFICANT ENHANCEMENT PROVIDER INFORMATION.
Not Applicable.
ITEM 8. OTHER INFORMATION.
Not Applicable.
ITEM 9. EXHIBITS.
(a) The following is a list of documents filed as part of this Report
on Form 10-D:
99.1 Trustee's report in respect of the October 16, 2006
distribution to holders of PPLUS Callable Trust Certificates
Series RRD-1.
(b) The exhibits required to be filed by the Registrant pursuant to
Item 601 of Regulation S-K are listed above and in the Exhibit Index that
immediately follows the signature page hereof.
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 thereunto duly authorized.
MERRILL LYNCH DEPOSITOR, INC.
Date: October 24, 2006 /s/ Jason Liddell
-------------------------------------
Name: Jason Liddell
Title: Vice President
EXHIBIT INDEX
99.1 Trustee's report in respect of the October 16, 2006 distribution to
holders of PPLUS Callable Trust Certificates Series RRD-1
EXHIBIT 99.1
DISTRIBUTION REPORT
FOR
PPLUS TRUST SERIES RRD-1 TRUST
DISTRIBUTION DATE
OCTOBER 16, 2006
CLASS A CUSIP NUMBER 73941X 593
CLASS B CUSIP NUMBER 73941X 585
(i) the amounts received by the Trustee as of the last such statement in
respect of principal, interest and premium on the R.R. Donnelley & Sons
Company 6.625% Debentures due April 15, 2029 (the "Underlying
Securities"):
Interest: $1,987,500.00
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: $1,890,000.00
Principal: $0.00
Class B:
Interest: $97,500.00
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: $60,000,000
Interest Rate: 6.625%
Rating:
Moody's Investor Service Baa2
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: ($25 Stated Amount)
Initial Principal Balance: $60,000,000.00
Reduction: (0)
--------------
Principal Balance 10/16/06: $60,000,000.00
Class B: ($25 Notional Amount)
Initial Principal Balance: $60,000,000.00
Reduction: (0)
--------------
Principal Balance 10/16/06: $60,000,000.00