The Oil Service HOLDRS Trust is intended to hold deposited shares for the benefit of owners of Oil Services HOLDRS. The trustee will perform only administrative and ministerial acts. The property of the fund will consist of the underlying securities and all monies or other property, if any, received by the trustee. The trust will terminate on December 31,2041,or earlier if a termination event occurs. The trust will issue Oil Services HOLDRS under the depositary trust agreement. After the initial offering, the trust may issue additional Oil Service HOLDRS on a continuous basis when an investor deposits the requisite underlying securities with the trustee.