Termination of 11 Merrill Lynch Holdrs slated for Thursday

By Toni Weeks

San Diego, Dec. 22 - Bank of America Corp. announced that 11 Holding Company Depositary Receipts, or Holdrs, will be terminated at 5 p.m. ET on Dec. 23.

On Nov. 22, Bank of America Merrill Lynch alerted the Bank of New York Mellon, the trustee of the Holdrs, of its plans to terminate the Holdrs. According to a press release from Charlotte, N.C.-based Bank of America, the trustee then notified Cede & Co., the sole owner of the receipts issued by the 11 Holdrs.

Following the termination,

• No new Holdrs will be issued, and trading on the NYSE Arca will be permanently suspended;

• The trustee will discontinue the registration of transfers of Holdrs, suspend the distribution of dividends or other distributions to owners and will not give further notices;

• Owners will have the right to withdraw the underlying securities by delivering a round-lot or an integral multiple of a round lot of Holdrs to the trustee and paying a $10 fee for each round-lot of 100 Holdrs; and

• The trustee may sell, after a period of four months after the termination date, the underlying securities then held by the 11 Holdrs trusts and hold the net uninvested proceeds of such a sale for the pro rata benefit of the owners of Holdrs that have not been surrendered.

As previously announced, the Bank of New York Mellon has extended the period to one year from four months during which owners of Holdrs can surrender their Holdrs and request delivery of the underlying securities.

The Holdrs that will terminate are the B2B Internet Holdrs Trust, Broadband Holdrs Trust, Europe 2001 Holdrs Trust, Internet Holdrs Trust, Internet Architecture Holdrs Trust, Internet Infrastructure Holdrs Trust, Market 2001+ Holdrs Trust, Software Holdrs Trust, Telecom Holdrs Trust, Wireless Holdrs Trust and Utilities Holdrs Trust.

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