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Utilities HOLDRS are Depositary Receipts issued by the Utilities HOLDRS Trust which represent an undivided beneficial ownership in the common stock of a group of specified companies that are involved in various segments of the utilities industry. The Bank of New York is the trustee. Utilities HOLDRS may be acquired, held or transferred in a round-lot amount of 100 Utilities HOLDRS or round-lot multiples. Utilities HOLDRS are separate from the underlying deposited common stocks that are represented by the Utilities HOLDRS. The Utilities HOLDRS Trust is not a registered investment company under the Investment Company Act of 1940.
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