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Merrill Lynch & Co. Inc. 6.0518% Index Plus Trust Certificates Series 2003-1 (IPB+1.29%) has submitted its annual report on Form 10-K for the fiscal year ended December 31, 2024. The filing is available for review filing.
The report indicates that the trust certificates are listed on The New York Stock Exchange American under the trading symbol IPB. The certificates are represented by physical certificates registered in the name of Cede & Co., the nominee of the Depository Trust Company.
The filing outlines various risk factors associated with the investment in the trust certificates. These include the potential for the underlying securities to be redeemed prior to maturity, which may affect the yield received by investors.
The report states that distributions on the trust certificates will be made only from available assets of the trust, which consist primarily of the portfolio of underlying securities. The report emphasizes that the trust certificates are not obligations of Merrill Lynch, the trustee, or any affiliates.
The filing highlights that the value of the trust certificates depends on the creditworthiness of the underlying securities issuers and the market prices of the underlying securities. It also notes that the market for these securities may be less liquid than for securities traded on an exchange.
The report indicates that potential conflicts of interest may arise between Merrill Lynch, the underwriter, and the trust, as Merrill Lynch and its affiliates may engage in investment banking or other services for the underlying securities issuers.
The filing includes information about the procedures in place to ensure timely filing of future Exchange Act reports. No changes in or disagreements with accountants on accounting and financial disclosure were reported.
The report does not include financial statements or supplementary data, as these are not applicable to the trust. Additionally, no legal proceedings or mine safety disclosures are noted in the filing.
The document incorporates by reference various periodic reports and other information related to the underlying securities held by the trust. These reports are available for public access through the SEC's website.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Merrill Lynch & Co. Inc. 6.0518% Index Plus Trust Certificates Series 2003-1 annual 10-K report dated March 25, 2025. To report an error, please email earnings@qz.com.