Feb. 7, 2013
/PRNewswire/ -- NOTICE IS HEREBY GIVEN that, pursuant to the terms of the Warrant Agreement, dated as of
July 24, 2002
, (the "Agreement") between
Trust Certificates Series VER-1 Trust (the "Trust"), Merrill Lynch Depositor, Inc., as Depositor (the "Depositor") and The Bank of New York Mellon, as Warrant Agent (the "Warrant Agent"), pursuant to Section 2.02(i) of the Agreement, the Warrant Agent has received a notice of exercise from the holder of the warrants to purchase all of the outstanding aggregate amount of the
Trust Certificates Series VER-1 (the "Securities").
The date fixed for the exercise is
March 7, 2013
(the "Exercise Date"). On the Exercise Date, 800,000 notional amount of the Securities will become due and payable at an exercise price equal to the sum of the present values, discounted at a rate of 7.75%, of the unpaid payments due, or to become due, in respect of the distributions to be made to the Class B Certificateholders by the Trust on or after the Exercise Date (the "Exercise Price"). On and after the Exercise Date, the Securities being exercised will cease to bear interest, and your only remaining right is to receive payment of the Exercise Price upon surrender of the Securities to the Warrant Agent.
Please be advised that the Certificateholders, by their acceptance of Securities, covenanted and agreed to tender any and all Securities to the Warrant Agent upon the holder's exercise of Warrants and deposit of the Exercise Price with The Bank of New York Mellon, as Escrow Agent for such Securities in accordance with the applicable procedures in the Agreement. Your rights under the Standard Terms for Trust Agreements, dated February 20, 1998 and together with the Series Supplement, dated
July 24, 2002
, (the "Trust Agreement") and the Securities are limited by the terms, provisions and conditions of the Trust Agreement and the Warrant Agreement with respect to the exercise of the Warrants by the holder.
To receive payment of the Exercise Price for the Securities held by you, you must surrender your Securities to the Warrant Agent at the following address: