~~Table~~SECURITIES ofAND ~~Contents~~EXCHANGE COMMISSION

~~SECURITIES~~WASHINGTON, ~~AND~~D.C. ~~EXCHANGE COMMISSION~~20549

~~WASHINGTON,~~FORM ~~D.C. 20549~~10-K

~~FORM~~ANNUAL ~~10-K~~REPORT

~~ANNUAL~~Pursuant ~~REPORT~~to Section 13 or 15(d) of The Securities Exchange Act of 1934

Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934


For the fiscal year ended:		Commission file number:
December 31, 2008		001-32201

For the fiscal year ended:		Commission file number:
December 31, 2006		001-32201

MERRILL LYNCH DEPOSITOR, INC.

~~MERRILL~~(ON ~~LYNCH~~BEHALF ~~DEPOSITOR,~~OF ~~INC.~~ PPLUS TRUST SERIES DCNA-1)

(ONExact ~~BEHALF~~name OFof ~~PPLUS~~registrant ~~TRUST~~as ~~SERIES~~specified ~~DCNA-1~~in its charter)

DELAWARE (~~Exact~~State ~~name~~or other jurisdiction of ~~registrant~~incorporation) as13-3891329 ~~specified~~(I. inR. ~~its~~S. ~~charter~~Employer Identification No.)

~~DELAWARE~~WORLD ~~(State~~FINANCIAL orCENTER, ~~other~~NEW ~~jurisdiction~~YORK, ofNEW ~~incorporation)~~YORK ~~13-3891329~~ (I.Address R.of S.principal ~~Employer~~executive ~~Identification~~offices) ~~No.~~10080 (Zip Code)

~~WORLD~~Registrant’s ~~FINANCIAL~~telephone ~~CENTER~~number, ~~NEW~~including ~~YORK,~~area ~~NEW~~code: ~~YORK~~ (~~Address of principal executive offices~~212) ~~10080 (Zip Code)~~ 449-1000

~~Registrant’s~~Securities ~~telephone~~registered ~~number,~~pursuant ~~including~~to ~~area~~Section ~~code:~~ 12(~~212~~b) ~~449-1000~~ of the Act:

~~Securities~~PPLUS ~~registered~~Trust ~~pursuant~~Certificates toSeries DCNA-1 ~~Section~~listed ~~12(b)~~on ofThe ~~the~~New ~~Act:~~York Stock Exchange.

~~PPLUS~~Securities ~~Trust~~registered ~~Certificates~~pursuant ~~Series DCNA-1~~to ~~listed~~Section on12(g) ~~The~~of ~~New~~the ~~York Stock Exchange.~~Act:

~~Securities~~Not ~~registered pursuant to Section 12(g) of the Act:~~Applicable.

~~Not~~Indicate ~~Applicable~~by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act.

~~Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule~~Yes ~~405 of the Securities Act.~~ o No þ

~~Yes~~Indicate by check mark if the registrant is not required to file reports pursuant to Section ~~o No þ~~13 or Section 15(d) of the Act.

~~Indicate by check mark if the registrant is not required to file reports pursuant to Section~~Yes ~~13 or Section 15(d) of the Act.~~ o No þ

~~Yes~~Indicate by check mark whether the registrant (1) ohas filed all reports required to be filed by Section No13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 þmonths (or for such shorter period that the registrant was to file such reports), and (2) has been subject to such filing requirements for the past 90 days.

~~Indicate by check mark whether the Registrant (1)~~Yes ~~has filed all reports required to be filed by Section~~þ ~~13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12~~No ~~months (or for such shorter period that the Registrant was to file such reports), and (2) has been subject to such filing requirements for the past 90 days.~~ o

~~Yes~~Indicate by check mark if disclosure of delinquent filers pursuant to Item þ405 of Regulation NoS-K is not contained herein, and will not be contained, to the best of registrant’s knowledge, in definitive proxy or information statements incorporated by reference in Part III of this Form 10-K or any amendment to this Form 10-K. o

Indicate by check mark ifwhether ~~disclosure~~the ofregistrant ~~delinquent~~is ~~filers~~a ~~pursuant~~large toaccelerated ~~Item 405 of~~filer, ~~Regulation S-K~~an isaccelerated ~~not~~filer, ~~contained~~a ~~herein,~~non-accelerated ~~and~~filer ~~will~~or ~~not~~a besmaller ~~contained,~~reporting tocompany. ~~the best~~See definitions of “large ~~registrant’s~~accelerated ~~knowledge~~filer,” in“accelerated ~~definitive~~filer” ~~proxy~~and or“smaller ~~information~~reporting ~~statements incorporated~~company” ~~by reference~~ in ~~Part~~ Rule ~~III~~12b-2 of ~~this~~the ~~Form~~Exchange ~~10-K~~Act. or(Check ~~any amendment to this~~one): ~~Form 10-K. o~~

~~Indicate by check mark whether the registrant is an~~ Large accelerated filer ~~(as defined~~o Accelerated infiler ~~Rule 12b~~o Non-2accelerated offiler ~~the~~þ Smaller ~~Act).~~ reporting filer o

~~Yes~~Indicate by check mark whether the registrant is a shell company (as defined in Rule ~~o No þ~~12b-2 of the Exchange Act).

~~Indicate by check mark whether the registrant is a shell company (as defined in Rule~~Yes ~~12b-2 of the Exchange Act).~~ o No þ

~~Yes o No þ~~State the aggregate market value of the voting and non-voting common equity held by non-affiliates computed by reference to the price at which the common equity was last sold, or the average bid and asked price of such common equity, as of the last business day of the registrant’s most recently completed second fiscal quarter.

~~State~~Not the aggregate market value of the voting and non-voting common equity held by non-affiliates computed by reference to the price at which the common equity was last sold, or the average bid and asked price of such common equity, as of the last business day of the registrant’s most recently completed second fiscal quarterApplicable.

~~Not~~Indicate ~~Applicable~~the number of shares outstanding for each of the registrant’s classes of common stock, as of the latest practicable date.

~~Indicate~~Not ~~the number of shares outstanding for each of the registrant’s classes of common stock, as of the latest practicable date~~Applicable.

~~Not~~DOCUMENTS ~~Applicable.~~ INCORPORATED BY REFERENCE

~~TABLE OF CONTENTS~~None.

	PART I
	ITEM 1. BUSINESS
	ITEM 1A. RISK FACTORS
	ITEM 1B. UNRESOLVED STAFF COMMENTS
	ITEM 2. PROPERTIES
	ITEM 3. LEGAL PROCEEDINGS
	ITEM 4. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS
	PART II
	ITEM 5. MARKET FOR REGISTRANT’S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES
	ITEM 6. SELECTED FINANCIAL DATA
	ITEM 7. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS
	ITEM 7A. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK
	ITEM 8. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA
	ITEM 9. CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL DISCLOSURE
	ITEM 9A. CONTROLS AND PROCEDURES
	ITEM 9B. OTHER INFORMATION
	PART III
	ITEM 10. DIRECTORS AND EXECUTIVE OFFICERS OF THE REGISTRANT
	ITEM 11. EXECUTIVE COMPENSATION
	ITEM 12. SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED STOCKHOLDER MATTERS
	ITEM 13. CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS
	ITEM 14. PRINCIPAL ACCOUNTING FEES AND SERVICES
	PART IV
	ITEM 15. EXHIBITS, FINANCIAL STATEMENT SCHEDULES
SIGNATURES
EX-31.1: CERTIFICATION
EX-99.1: TRUSTEE'S ANNUAL COMPLIANCE CERTIFICATE
EX-99.2: REPORT OF DELOITTE & TOUCHE LLP
EX-99.3: REPORT OF ERNST & YOUNG LLP

TABLE OF CONTENTS

	PART I
	ITEM 1. BUSINESS
	ITEM 1A. RISK FACTORS
	ITEM 1B. UNRESOLVED STAFF COMMENTS
	ITEM 2. PROPERTIES
	ITEM 3. LEGAL PROCEEDINGS
	ITEM 4. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS
	PART II
	ITEM 5. MARKET FOR REGISTRANT’S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES
	ITEM 6. SELECTED FINANCIAL DATA
	ITEM 7. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS
	ITEM 7A. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK
	ITEM 8. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA
	ITEM 9. CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL DISCLOSURE
	ITEM 9A. CONTROLS AND PROCEDURES
	ITEM 9B. OTHER INFORMATION
	PART III
	ITEM 10. DIRECTORS, EXECUTIVE OFFICERS AND CORPORATE GOVERNANCE
	ITEM 11. EXECUTIVE COMPENSATION
	ITEM 12. SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED STOCKHOLDER MATTERS
	ITEM 13. CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS, AND DIRECTOR INDEPENDENCE
	ITEM 14. PRINCIPAL ACCOUNTING FEES AND SERVICES
	PART IV
	ITEM 15. EXHIBITS, FINANCIAL STATEMENT SCHEDULES
SIGNATURES
EX-31.1: CERTIFICATION
EX-99.1: TRUSTEE'S ANNUAL COMPLIANCE CERTIFICATE
EX-99.2: REPORT OF DELOITTE & TOUCHE LLP
EX-99.3: REPORT OF KPMG LLP

DOCUMENTS INCORPORATED BY REFERENCE

None.

PART I

ITEM 1. BUSINESS

For information with respect to the underlying securities held by PPLUS Trust Series DCNA-1, please refer to ~~DaimlerChrysler~~Daimler AG’s (Commission file number 001-14561) periodic reports, including reports on Form 20-F and Form 6-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, N.E., 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, N.E., 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 guarantor and the underlying securities issuer have filed electronically with the SEC.

Although we have no reason to believe the information concerning the underlying securities guarantee and underlying securities or the underlying securities guarantor and the underlying securities issuer contained in the underlying securities guarantor’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 guarantor and underlying securities issuer (including, without limitation, no investigation as to its financial condition or creditworthiness) or of the underlying securities and underlying securities guarantee has been made. You should obtain and evaluate the same information concerning the underlying securities issuer and the underlying securities guarantor 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 or the underlying securities guarantor. There can be no assurance that events affecting the underlying securities and underlying securities guarantee or the underlying securities issuer and underlying securities guarantor have not occurred or have not yet been publicly disclosed which would affect the accuracy or completeness of the publicly available documents described above.

~~Table~~ITEM of1A. ~~Contents~~RISK FACTORS

~~ITEM~~Your 1Ainvestment in trust certificates will involve certain risks. ~~RISK~~You ~~FACTORS~~should carefully consider the following discussion of risks, and the other information included or incorporated by reference in the applicable prospectus supplement and the accompanying prospectus. You should also carefully consider any risk factors and other information that the underlying securities guarantor may file in their Exchange Act reports as referenced in Item 1 above.

~~Your~~IF ~~investment~~THE inUNDERLYING ~~trust~~SECURITIES ~~certificates~~ARE ~~will~~REDEEMED ~~involve~~PRIOR TO ~~certain~~THEIR ~~risks.~~MATURITY ~~You~~DATE ~~should~~OR ~~carefully~~IF ~~consider~~ANY ~~the following~~CALL ~~discussion~~WARRANTS ofARE EXERCISED ~~risks,~~PRIOR ~~and~~TO ~~the~~THE ~~other information~~STATED ~~included~~MATURITY orDATE, ~~incorporated~~YOU ~~by reference in~~MAY ~~the~~NOT ~~applicable~~BE ~~prospectus~~ABLE ~~supplement~~TO ~~and~~REINVEST ~~the accompanying~~YOUR ~~prospectus.~~REDEMPTION ~~You~~OR ~~should also carefully~~CALL ~~consider~~PROCEEDS ~~any~~AT ~~risk~~A ~~factors~~YIELD ~~and~~COMPARABLE ~~other~~TO ~~information~~THE ~~that the~~YIELD ~~underlying~~YOU ~~securities guarantor may file in their~~WOULD ~~Exchange~~HAVE ~~Act~~RECEIVED ~~reports~~ON asYOUR ~~referenced~~TRUST ~~in Item 1 above.~~CERTIFICATES

IFThe ~~THE~~yield ~~UNDERLYING~~you ~~SECURITIES~~will ~~ARE~~realize ~~REDEEMED~~on ~~PRIOR~~your ~~TO THEIR~~trust ~~MATURITY DATE OR IF ANY CALL WARRANTS ARE~~certificates ~~EXERCISED~~depends ~~PRIOR~~upon TOseveral ~~THE STATED MATURITY DATE~~factors, ~~YOU MAY~~including: ~~NOT BE ABLE TO REINVEST YOUR REDEMPTION OR CALL PROCEEDS AT A YIELD COMPARABLE TO THE YIELD YOU WOULD HAVE RECEIVED ON YOUR TRUST CERTIFICATES~~

~~The~~• ~~yield~~the ~~you~~purchase ~~will~~price ~~realize~~of onthe trust certificates, • when you acquire your trust certificates ~~depends~~, ~~upon~~• ~~several~~whether ~~factors~~the underlying securities issuer exercises its option to redeem the underlying securities, ~~including:~~ and • whether the call warrant holders exercise their optional rights to purchase outstanding trust certificates.

•The ~~the~~underlying ~~purchase~~securities ~~price~~issuer ofhas the ~~trust~~right ~~certificates,~~to redeem •the ~~when~~underlying ~~you~~securities ~~acquire~~in ~~your~~whole, ~~trust~~but ~~certificates~~not in part, •if ~~whether~~it becomes obligated to pay additional amounts. Because the underlying securities issuer ~~exercises~~has the ~~its~~right ~~option~~ to redeem the underlying securities early, we ~~and~~cannot •assure ~~whether~~you that the ~~call~~trust ~~warrant~~will ~~holders~~be ~~exercise~~able ~~their~~to hold ~~optional~~the ~~rights~~underlying tosecurities ~~purchase~~until ~~outstanding~~their ~~trust certificates~~maturity date.

~~The~~Although ~~underlying securities issuer has~~ the ~~right~~call ~~to redeem~~warrant ~~the~~holders ~~underlying~~are ~~securities in whole, but~~ not ~~in part, if it becomes~~ obligated to ~~pay~~exercise ~~additional amounts.~~the ~~Because~~call warrants, the ~~underlying~~yield ~~securities~~you ~~issuer has~~will ~~the~~realize ~~right~~on toyour ~~redeem~~trust ~~the~~certificates ~~underlying~~depends ~~securities~~on ~~early,~~whether wethe ~~cannot~~call ~~assure~~warrant ~~you~~holders ~~that~~exercise ~~the~~their ~~trust~~call ~~will be able to~~warrants ~~hold~~to purchase the ~~underlying~~Class A ~~securities~~trust ~~until their maturity date~~certificates.

~~Although~~Prevailing ~~the~~interest ~~call~~rates ~~warrant~~at ~~holders~~the ~~are~~time ~~not~~of ~~obligated~~an early toredemption ~~exercise~~or ~~the~~a call ~~warrants,~~exercise ~~the~~may ~~yield~~be ~~you~~lower ~~will~~than the ~~realize~~yield on your trust certificates. ~~depends~~Therefore, onyou ~~whether~~may be unable to realize a comparable yield upon reinvesting the ~~call~~funds ~~warrant~~you ~~holders~~receive from an early redemption or exercise ~~their~~of any call warrants. In toaddition, ~~purchase~~if the ~~Class A~~prevailing ~~trust~~market value of the trust certificates exceeds the redemption price or call exercise price paid to you upon a redemption of the underlying securities or the exercise of a call, you will not be able to realize such excess.

~~Prevailing interest rates at the time of an early~~3 redemption or a call exercise may be lower than the yield on your trust certificates. Therefore, you may be unable to realize a comparable yield upon reinvesting the funds you receive from an early redemption or exercise of any call warrants. In addition, if the prevailing market value of the trust certificates exceeds the redemption price or call exercise price paid to you upon a redemption of the underlying securities or the exercise of a call, you will not be able to realize such excess.

3YOU MAY NOT BE PAID IF THE ASSETS OF THE TRUST ARE INSUFFICIENT

~~Table~~Currently, the trust has no significant assets other than the underlying securities and the underlying guarantee. If the underlying securities and the underlying guarantee are insufficient to make payments or distributions on the trust certificates, no other assets will be available for payment of ~~Contents~~the deficiency. The underlying securities issuer is organized as a holding company that owns subsidiary companies. According to the underlying securities prospectus, the underlying securities issuer derives its operating income and cash flow primarily from its subsidiaries and investments, which poses two principal risks:

~~YOU~~• ~~MAY~~the ~~NOT~~underlying BEsecurities ~~PAID~~issuer’s IFright ~~THE~~to ~~ASSETS~~participate OFas ~~THE~~an ~~TRUST~~equity ~~ARE INSUFFICIENT~~ holder in any distribution of assets of any of its subsidiaries upon the subsidiary’s liquidation or otherwise, and thus the ability of its security holders, including the trust, to benefit from the distribution, will be subject to prior claims of the subsidiary’s creditors, except to the extent that any claims the underlying securities issuer may have as a creditor of the subsidiary are recognized, and • the underlying securities issuer’s ability to service its indebtedness and other obligations is dependent primarily upon the earnings and cash flow of its subsidiaries and the distribution or other payment to it of such earnings and cash flow.

~~Currently,~~YOU ~~the~~MAY ~~trust~~NOT ~~has~~RECOVER noTHE ~~significant~~WHOLE ~~assets~~OF ~~other than~~THE ~~the~~PRESENT ~~underlying~~VALUE ~~securities and the underlying~~OR ~~guarantee.~~STATED IfAMOUNT ~~the~~(IF ~~underlying~~APPLICABLE) ~~securities~~OF ~~and~~YOUR ~~the~~TRUST ~~underlying~~CERTIFICATES ~~guarantee~~IF ~~are~~THE ~~insufficient~~TRUST toDISPOSES ~~make payments~~OF orTHE ~~distributions on the trust certificates,~~UNDERLYING noSECURITIES ~~other~~ON ~~assets~~A ~~will~~DEFAULT beBY ~~available~~THE ~~for~~UNDERLYING ~~payment of the~~SECURITIES ~~deficiency.~~ISSUER ~~The~~OR ~~underlying~~IN ~~securities~~THE ~~issuer~~EVENT ~~is organized~~THE asUNDERLYING ~~a holding company that owns subsidiary~~SECURITIES ~~companies.~~GUARANTOR ~~According~~CEASES toFILING ~~the~~EXCHANGE ~~underlying~~ACT ~~securities~~REPORTS ~~prospectus, the underlying securities issuer derives its operating income and cash flow primarily from its subsidiaries and investments, which poses two principal risks:~~

•If the underlying securities issuer’s ~~right~~defaults toon ~~participate as an equity holder in any distribution of assets of any of~~ its obligations ~~subsidiaries~~under ~~upon~~ the ~~subsidiary’s~~underlying ~~liquidation~~securities or ~~otherwise, and thus~~ the underlying ~~ability~~securities ofguarantor ~~its~~ceases ~~security holders, including the trust,~~ to ~~benefit~~file Exchange ~~from~~Act ~~the~~reports ~~distribution,~~or ~~will~~ceases to be ~~subject~~in tocompliance with ~~prior~~Rule 3-10 ~~claims~~ of ~~the~~Regulation S-X ~~subsidiary’s~~under ~~creditors~~the Securities Act, ~~except~~then to the ~~extent~~trust ~~that~~will ~~any~~either ~~claims~~distribute the underlying securities ~~issuer~~to ~~may~~the ~~have~~trust ascertificateholders or adispose ~~creditor~~ of ~~the~~them ~~subsidiary are recognized,~~ and •distribute the ~~underlying~~proceeds ~~securities issuer’s ability~~ to ~~service its indebtedness and other obligations is dependent primarily upon~~ the trust ~~earnings~~certificateholders. ~~and~~Your ~~cash~~recovery ~~flow~~in either of those ~~its~~events ~~subsidiaries~~may ~~and~~be ~~the~~limited ~~distribution~~by ortwo ~~other payment to it of such earnings and cash flow.~~factors:

~~YOU MAY NOT RECOVER THE WHOLE OF THE PRESENT VALUE OR~~4 STATED AMOUNT (IF APPLICABLE) OF YOUR TRUST CERTIFICATES IF THE TRUST DISPOSES OF THE UNDERLYING SECURITIES ON A DEFAULT BY THE UNDERLYING SECURITIES ISSUER OR IN THE EVENT THE UNDERLYING SECURITIES GUARANTOR CEASES FILING EXCHANGE ACT REPORTS

If• ~~the~~if ~~underlying~~a ~~securities~~default ~~issuer~~occurs, ~~defaults~~the onmarket ~~its obligations~~value ~~under~~of the underlying securities ormay ~~the underlying~~be ~~securities~~adversely ~~guarantor~~affected ~~ceases~~and tothe ~~file Exchange~~proceeds ~~Act~~of ~~reports~~their ordisposition ~~ceases~~may to be inlower ~~compliance with~~than ~~Rule 3-10~~the ofaggregate ~~Regulation S-X~~present ~~under~~value ~~the~~or ~~Securities Act,~~stated ~~then~~amount (if applicable) of the trust ~~will~~certificates; and • in either ~~distribute~~event, ~~the~~ any distribution of funds or underlying securities by the trust to the trust certificateholders or ~~dispose~~will ofbe ~~them~~done ~~and~~in ~~distribute~~accordance with the ~~proceeds~~allocation ratio as described in the applicable prospectus supplement relating to the trust ~~certificateholders~~certificates. ~~Your~~The ~~recovery~~funds inor ~~either~~aggregate principal amount of ~~those~~ ~~events~~underlying securities you receive on that distribution may be ~~limited~~less bythan ~~two~~the ~~factors:~~ present value or stated amount (if applicable) of your trust certificates.

4THE TRUSTEE WILL NOT MANAGE THE UNDERLYING SECURITIES

~~Table~~Except as described below, the trust will not dispose of ~~Contents~~any underlying securities, even if an event occurs that adversely affects the value of the underlying securities or that adversely affects the underlying securities issuer or the underlying securities guarantor. As provided in the applicable trust agreement, the trust will dispose of the underlying securities only if:

• ifthere is a payment default ~~occurs,~~on ~~the~~any ~~market value of the~~ underlying securities, ~~may~~• bethere ~~adversely~~is ~~affected~~another ~~and~~type ~~the proceeds~~ of ~~their~~default ~~disposition~~that ~~may~~accelerates bethe ~~lower~~maturity ~~than~~of the ~~aggregate~~underlying ~~present~~securities, ~~value~~ or ~~stated~~• ~~amount (if applicable) of~~ the ~~trust~~underlying ~~certificates;~~securities ~~and~~guarantor •ceases into ~~either~~file ~~event,~~Exchange ~~any~~Act ~~distribution~~reports ~~of funds~~ or ~~underlying~~ceases ~~securities by the trust~~ to ~~the trust certificateholders will~~ be ~~done~~ in ~~accordance~~compliance with ~~the~~Rule ~~allocation~~3-10 ~~ratio as described in the applicable prospectus supplement relating to the trust certificates. The funds or aggregate principal amount~~ of ~~underlying~~Regulation ~~securities~~S-X ~~you~~under ~~receive on that distribution may be less than~~ the ~~present~~Securities ~~value or stated amount (if applicable) of your trust certificates~~Act.

~~THE~~Under ~~TRUSTEE~~the ~~WILL~~first ~~NOT~~circumstance ~~MANAGE~~listed ~~THE~~above, ~~UNDERLYING~~the trustee ~~SECURITIES~~must sell the underlying securities on behalf of the trust, even if adverse market conditions exist. The trustee has no discretion to do otherwise. If adverse market conditions do exist at the time of the trustee’s sale of the underlying securities, you may incur greater losses than if the trust continued to hold the underlying securities.

~~Except~~THE asTRUST ~~described~~CERTIFICATES ~~below,~~ARE ~~the~~SUBJECT ~~trust~~TO ~~will not dispose~~THE ofCREDITWORTHINESS ~~any~~OF ~~underlying~~THE ~~securities,~~UNDERLYING ~~even if an event occurs~~SECURITIES ~~that~~ISSUER ~~adversely~~AND ~~affects~~THE ~~the~~UNDERLYING ~~value~~SECURITIES ~~of the underlying~~GUARANTOR securities or that adversely affects the underlying securities issuer or the underlying securities guarantor. As provided in the applicable trust agreement, the trust will dispose of the underlying securities only if:

•The ~~there~~trust iscertificates arepresent ~~payment~~interests ~~default~~in obligations onof ~~any~~the underlying securities, •issuer ~~there~~and the isunderlying ~~another~~securities ~~type~~guarantor. ofIn ~~default~~particular, the ~~that~~trust ~~accelerates~~certificates ~~the~~will ~~maturity~~be ofsubject to all the risks ~~underlying~~associated ~~securities,~~with ordirectly •investing ~~the~~in the underlying securities guarantor’s ~~ceases~~unsecured todebt obligations. ~~file~~None ~~Exchange~~of ~~Act~~the ~~reports~~underlying orindenture, ~~ceases~~the underlying tosecurities beor inthe ~~compliance~~guarantee ~~with~~places ~~Rule~~a limitation ~~3-10~~on the amount of ~~Regulation~~indebtedness ~~S-X~~that ~~under~~may be incurred by the ~~Securities~~underlying ~~Act~~securities issuer or underlying securities guarantor.

~~Under the first circumstance listed above, the~~5 trustee must sell the underlying securities on behalf of the trust, even if adverse market conditions exist. The trustee has no discretion to do otherwise. If adverse market conditions do exist at the time of the trustee’s sale of the underlying securities, you may incur greater losses than if the trust continued to hold the underlying securities.

THE ~~TRUST~~PAYMENTS ~~CERTIFICATES~~OWED ~~ARE SUBJECT~~ TO THE ~~CREDITWORTHINESS~~ OFTRUST ~~THE~~CERTIFICATEHOLDERS ~~UNDERLYING SECURITIES~~ARE ~~ISSUER~~UNSECURED ~~AND THE UNDERLYING SECURITIES GUARANTOR~~OBLIGATIONS

~~The~~In ~~trust~~a ~~certificates~~liquidation, ~~represent~~holders ~~interests in obligations~~ of the underlying ~~securities issuer and~~ ~~the underlying~~ securities, ~~guarantor.~~including ~~In particular,~~ the trust, ~~certificates~~ will be ~~subject~~paid ~~to all the~~only ~~risks~~after ~~associated~~holders ~~with~~of ~~directly~~secured ~~investing~~obligations inof the underlying securities ~~guarantor’s unsecured debt obligations~~issuer. ~~None~~According ofto the ~~underlying indenture, the~~ underlying securities orprospectus, the ~~guarantee places a~~underlying ~~limitation~~securities onare ~~the~~unsecured ~~amount~~and ofrank ~~indebtedness~~equally ~~that~~with ~~may be~~all ~~incurred~~other byunsecured ~~the~~and ~~underlying~~unsubordinated ~~securities~~indebtedness ~~issuer or~~of the underlying securities ~~guarantor~~issuer.

5THE RATINGS OF THE TRUST CERTIFICATES MAY CHANGE

~~Table~~At the time of ~~Contents~~issuance, Moody’s and S&P assigned ratings to the trust certificates equivalent to the ratings of the underlying securities, as of the date of the applicable prospectus.

~~THE~~Any ~~PAYMENTS~~rating ~~OWED~~issued TOwith ~~THE~~respect ~~TRUST~~to ~~CERTIFICATEHOLDERS~~the ~~ARE~~trust ~~UNSECURED~~certificates ~~OBLIGATIONS~~is not a recommendation to purchase, sell or hold a security. Ratings do not comment on the market price of the trust certificates or their suitability for a particular investor. We cannot assure you that initial ratings will remain for any given period of time or that a ratings agency would not revise or withdraw entirely the ratings if, in its judgment, circumstances (including, without limitation, the rating of the underlying securities) merit. A revision or withdrawal of a rating may adversely affect the market price of the trust certificates.

InITEM ~~a liquidation, holders of the underlying securities, including the trust, will be paid only after holders of secured obligations of the underlying securities issuer~~1B. ~~According~~UNRESOLVED toSTAFF ~~the~~COMMENTS ~~underlying securities prospectus, the underlying securities are unsecured and rank equally with all other unsecured and unsubordinated indebtedness of the underlying securities issuer.~~

~~THE~~Not ~~RATINGS OF THE TRUST CERTIFICATES MAY CHANGE~~Applicable.

AtITEM ~~the~~2. ~~time of issuance, Moody’s and S&P assigned~~PROPERTIES ~~ratings to the trust certificates equivalent to the ratings of the underlying securities, as of the date of the applicable prospectus.~~

~~Any rating issued with respect to the trust certificates is not a recommendation to purchase, sell or hold a security~~None. ~~Ratings do not comment on~~ the market price of the trust certificates or their suitability for a particular investor. We cannot assure you that initial ratings will remain for any given period of time or that a ratings agency would not revise or withdraw entirely the ratings if, in its judgment, circumstances (including, without limitation, the rating of the underlying securities) merit. A revision or withdrawal of a rating may adversely affect the market price of the trust certificates.

ITEM 1B3. ~~UNRESOLVED~~LEGAL ~~STAFF COMMENTS~~PROCEEDINGS

~~Not Applicable~~None.

ITEM 24. ~~PROPERTIES~~SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS

None.

~~ITEM 3. LEGAL PROCEEDINGS~~6

~~None.~~PART II

ITEM 45. ~~SUBMISSION~~MARKET OFFOR REGISTRANT’S COMMON EQUITY, RELATED STOCKHOLDER MATTERS TOAND AISSUER ~~VOTE~~PURCHASES OF EQUITY ~~SECURITY HOLDERS~~SECURITIES

~~None~~The Trust Certificates issued by PPLUS Trust Series DCNA-1 are represented by one or more physical certificates registered in the name of Cede & Co., the nominee of the Depository Trust Company. The Trust Certificates are listed on the New York Stock Exchange.

ITEM 6. SELECTED FINANCIAL DATA

~~Table~~Not ~~of Contents~~Applicable.

~~PART~~ITEM II7. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

~~ITEM~~Not 5Applicable. ~~MARKET FOR REGISTRANT’S COMMON EQUITY, RELATED~~ ~~STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES~~

~~The~~ITEM ~~Trust Certificates issued by PPLUS Trust Series DCNA-1 are represented by one or more physical certificates registered in the name of Cede & Co~~7A.~~, the~~ ~~nominee~~QUANTITATIVE ofAND ~~the~~QUALITATIVE ~~Depository~~DISCLOSURES ~~Trust~~ABOUT ~~Company. The~~MARKET ~~Trust Certificates are listed on the New York Stock~~RISK ~~Exchange.~~

~~ITEM~~Not 6Applicable. ~~SELECTED FINANCIAL DATA~~

~~Not~~ITEM ~~Applicable~~8. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA

~~ITEM~~Not 7Applicable. ~~MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL~~ ~~CONDITION AND RESULTS OF OPERATIONS~~

~~Not~~ITEM ~~Applicable~~9. CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL DISCLOSURE

~~ITEM 7A~~None. ~~QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET~~ ~~RISK~~

~~Not~~ITEM ~~Applicable~~9A. CONTROLS AND PROCEDURES

~~ITEM~~The 8.Registrant ~~FINANCIAL~~has ~~STATEMENTS~~procedures ~~AND~~so ~~SUPPLEMENTARY~~as ~~DATA~~to provide reasonable assurance that its future Exchange Act filings will be filed within the applicable time periods.

~~Not~~ITEM ~~Applicable~~9B. OTHER INFORMATION

~~ITEM 9~~None. ~~CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON~~ ~~ACCOUNTING AND FINANCIAL DISCLOSURE~~

~~None.~~7

~~ITEM~~PART ~~9A. CONTROLS AND PROCEDURES~~III

~~The~~ITEM ~~Registrant~~10. ~~has~~DIRECTORS, ~~procedures~~EXECUTIVE soOFFICERS asAND toCORPORATE ~~provide reasonable assurance that its future Exchange Act filings will be filed within the applicable time periods.~~ GOVERNANCE

~~ITEM~~Not 9BApplicable. ~~OTHER INFORMATION~~

~~None~~ITEM 11. EXECUTIVE COMPENSATION

7Not Applicable.

~~Table~~ITEM of12. ~~Contents~~SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED STOCKHOLDER MATTERS

~~PART~~(a) ~~III~~ Securities Authorized For Issuance Under Equity Compensation Plans: None. (b) Security Ownership Of Certain Beneficial Owners: None. (c) Security Ownership Of Management: Not Applicable. (d) Changes In Control: None.

ITEM 1013. ~~DIRECTORS~~CERTAIN RELATIONSHIPS AND ~~EXECUTIVE~~RELATED ~~OFFICERS~~TRANSACTIONS, OFAND ~~THE~~DIRECTOR ~~REGISTRANT~~INDEPENDENCE

~~Not Applicable~~None.

ITEM 1114. ~~EXECUTIVE~~PRINCIPAL ~~COMPENSATION~~ACCOUNTING FEES AND SERVICES

Not Applicable.

~~ITEM~~PART ~~12. SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND~~IV ~~MANAGEMENT AND RELATED STOCKHOLDER MATTERS~~

~~(a)~~ITEM ~~Securities Authorized For Issuance Under Equity Compensation Plans: None~~15. ~~(b)~~EXHIBITS, ~~Security~~FINANCIAL ~~Ownership~~STATEMENT ~~Of Certain Beneficial Owners: None. (c) Security Ownership Of Management: Not Applicable. (d) Changes In Control: None.~~SCHEDULES

~~ITEM~~(a)(1) ~~13.~~Financial ~~CERTAIN~~Statements: ~~RELATIONSHIPS~~Not ~~AND RELATED TRANSACTIONS~~Applicable.

~~None~~(a)(2) Financial Statement Schedules: Not Applicable.

~~ITEM~~(a)(3) ~~14.~~List ~~PRINCIPAL~~of ~~ACCOUNTING FEES AND SERVICES~~Exhibits

~~Not~~The ~~Applicable.~~following exhibits are filed as part of, and incorporated by reference into, this Annual Report on Form 10-K:

~~PART~~31.1. IV Certification of Vice President of Registrant dated March 27, 2009, pursuant to Rules 13a-14 and 15d-14 under the Securities Exchange Act of 1934, as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002, with respect to the Registrant’s Annual Report on Form 10-K for the year ended December 31, 2008.

~~ITEM 15. EXHIBITS, FINANCIAL STATEMENT SCHEDULES~~8

(a)(1) Financial Statements: Not Applicable.

	99.1.		Trustee’s Annual Compliance Certificate dated March 6, 2009.

	99.2.		Report of Deloitte & Touche LLP, Independent Registered Public Accounting Firm, dated March 23, 2009, Registrant’s Assertion on Compliance with PPLUS Minimum Servicing Standards dated March 23, 2009 and PPLUS Minimum Servicing Standards.

	99.3.		Report of KPMG LLP, Independent Registered Public Accounting Firm, dated March 6, 2009, The Bank of New York Mellon’s Assertion on Compliance with PPLUS Minimum Servicing Standards dated March 6, 2009 and PPLUS Minimum Servicing Standards.

(ab)~~(2) Financial Statement Schedules: Not Applicable.~~ Exhibits

The Registrant hereby files as part of this Annual Report on Form 10-K the exhibits listed in Item 15(a)(3) ~~List~~set offorth ~~Exhibits~~above.

~~The~~(c) Financial ~~following~~Statement ~~exhibits are filed as part of, and~~Schedules ~~incorporated by reference into, this Annual Report on Form 10-K:~~

~~31.1~~Not Certification of Vice President of Registrant dated March 26, 2007, pursuant to Rules 13a-14 and 15d-14 under the Securities Exchange Act of 1934, as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002, with respect to the Registrant’s Annual Report on Form 10-K for the year ended December 31, 2006Applicable.

~~Table of Contents~~SIGNATURES

	99.1		Trustee’s Annual Compliance Certificate dated March 22, 2007.
	99.2.		Report of Deloitte & Touche LLP, Independent Registered Public Accounting Firm, dated March 26, 2007, Registrant’s Assertion on Compliance with PPLUS Minimum Servicing Standards dated March 26, 2007 and PPLUS Minimum Servicing Standards.
	99.3.		Report of Ernst & Young LLP, Independent Registered Public Accounting Firm, dated March 1, 2007, The Bank of New York’s Assertion on Compliance with PPLUS Minimum Servicing Standards dated March 1, 2007 and PPLUS Minimum Servicing Standards.

Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, hereunto duly authorized.

(b) Exhibits


	MERRILL LYNCH DEPOSITOR, INC.
Date: March 27, 2009	By:	/s/ Steven O’Neill
		Name:	Steven O’Neill
		Title:	Vice President

~~The Registrant hereby files as part of this Annual Report on Form~~ 10~~-K the exhibits~~ ~~listed in Item 15(a)(3) set forth above.~~

Not applicable.

SIGNATURES

	MERRILL LYNCH DEPOSITOR, INC.
Date: March 26, 2007	By:	/s/ Jason Liddell
		Name:	Jason Liddell
		Title:	Vice President

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