SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
__________
FORM 10-K/A
FOR ANNUAL AND TRANSITION REPORTS
PURSUANT TO SECTIONS 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
(Mark One)
[X] ANNUAL REPORT PURSUANT TO SECTION 13 or 15(d) OF THE SECURITIES
EXCHANGE ACT OF 1934
For the fiscal year ended November 30, 2002
OR
[ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
EXCHANGE ACT OF 1934
For the transition period from __________ to __________
Commission File Numbers 333-64879, 001-16443, 001-16819, 001-31382,
001-31408, 001-31438
MS STRUCTURED ASSET CORP.
On behalf of
SATURNS Trust No. 2001-1
SATURNS Trust No. 2001-2
SATURNS Trust No. 2001-3
SATURNS Trust No. 2001-4
SATURNS Trust No. 2001-5
SATURNS Trust No. 2001-6
SATURNS Trust No. 2001-7
SATURNS Trust No. 2001-8
SATURNS Trust No. 2002-1
SATURNS Trust No. 2002-3
SATURNS Trust No. 2002-4
SATURNS Trust No. 2002-5
SATURNS Trust No. 2002-6
SATURNS Trust No. 2002-7
SATURNS Trust No. 2002-8
SATURNS Trust No. 2002-9
SATURNS Trust No. 2002-10
SATURNS Trust No. 2002-11
SATURNS Trust No. 2002-12
SATURNS Trust No. 2002-13
SATURNS Trust No. 2002-14
(Exact name of registrant as specified in its charter)
Delaware 13-4026700
(State or other jurisdiction of (IRS Employer Identification No.)
incorporation or organization)
1585 Broadway, Second Floor
New York, New York 10036
(Address of principal executive office) (Zip Code)
Registrant's telephone number, including area code: (212) 761-2520
Securities registered pursuant to Section 12(b) of the Act:
Title of Each Class Name of Each Exchange on Which Registered
------------------- -----------------------------------------
SATURNS IBM Corporation Debenture-Backed New York Stock Exchange
Series 2001-1 7.125% Callable Units
SATURNS Citizens Communications Company Debenture-Backed Series New York Stock Exchange
2001-2 8.625% Callable Units
SATURNS BellSouth Debenture-Backed New York Stock Exchange
Series 2001-3 7.125% Callable Units
SATURNS Cummins Engine Company Debenture-Backed New York Stock Exchange
Series 2001-4 9.25% Callable Units
SATURNS Bank of America Debenture-Backed New York Stock Exchange
Series 2001-6 7.25% Callable Units
SATURNS SAFECO Capital Security Backed New York Stock Exchange
Series 2001-7 8.25% Callable Units
SATURNS AT&T Corp. Debenture-Backed New York Stock Exchange
Series 2001-8 7.40% Callable Units
SATURNS Aon Capital Security Backed New York Stock Exchange
Series 2002-1 7.50% Class A Callable Units
SATURNS DPL Capital Security Backed New York Stock Exchange
Series 2002-3 7.875% Class A Callable Units
SATURNS DPL Capital Security Backed New York Stock Exchange
Series 2002-4 8.00% Class A Callable Units
SATURNS SAFECO Capital Security Backed New York Stock Exchange
Series 2002-5 8.25% Callable Units
SATURNS JP Morgan Chase Capital Security Backed New York Stock Exchange
Series 2002-6 7.125% Class A Callable Units
SATURNS DPL Capital Security Backed New York Stock Exchange
Series 2002-7 7.875% Class A Callable Units
SATURNS AT&T Wireless Debenture-Backed New York Stock Exchange
Series 2002-8 9.25% Callable Units
SATURNS Verizon Global Funding Debenture-Backed New York Stock Exchange
Series 2002-9 7.50 Class A Callable Units
SATURNS CSFB USA Debenture-Backed New York Stock Exchange
Series 2002-10 7.00% Class A Callable Units
SATURNS AIG Capital Security Backed New York Stock Exchange
Series 2002-11 6.00% Class A Callable Units
SATURNS GE Global Insurance Holding Corporation New York Stock Exchange
Debenture Backed
Series 2002-12 6.25% Class A Callable Units
SATURNS GE Global Insurance Holding Corporation New York Stock Exchange
Debenture Backed
Series 2002-13 6.25% Class A Callable Units
SATURNS General Electric Capital Corporation New York Stock Exchange
Debenture Backed
Series 2002-14 6.00% Class A Callable Units
Securities registered pursuant to Section 12(g) of the Act:
None
Indicate by check mark whether registrant (1) has filed all reports
required to be filed by Section 13 or 15(d) of the Securities Exchange Act of
1934 during the preceding 12 months (or for such shorter period that the
registrant was required to file such reports), and (2) has been subject to such
filing requirements for the past 90 days. Yes X No
Indicate by check mark if disclosure of delinquent filers pursuant to
Item 405 of Regulation S-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.
[ ]
All of the common stock of the registrant is held by Morgan Stanley.
Indicate by check mark whether the registrant has filed all documents
and reports required to be filed by Section 12, 13 or 15(d) of the Securities
Exchange Act of 1934 subsequent to the distribution of securities under a plan
confirmed by a court. Yes No
As of February 20, 2003, 1,000 shares of common stock, par value
$1.00 per share, were outstanding.
DOCUMENTS INCORPORATED BY REFERENCE:
The distribution reports to security holders filed on Form 8-K during the
Fiscal Year in lieu of reports on Form 10-Q, which also include, without
limitation, the reports filed on Form 8-K on July 31, 2002 and August 1, 2002.
Introductory Note
The Registrant is the depositor under the trust agreements for it various
SATURNS Units listed on the New York Stock Exchange. The Units do not represent
obligations of or interests in the Depositor. Pursuant to staff administrative
positions established in various no-action letters, see e.g. Corporate Asset
Backed Corporation (available August 9, 1995), the Registrant is not required to
respond to various items of Form 10-K. Such items are designated herein as "Not
applicable." Distribution reports detailing receipts and distributions by each
trust are filed shortly after each distribution date on Form 8-K in lieu of
reports on Form 10-Q.
This Amended Annual Report amends the Annual Report for the fiscal year ended
November 30, 2002, filed on Form 10-K dated February 28, 2003.
The underlying security issuer or guarantor, as applicable, of the securities
held by each of the trusts is subject to the informational requirements of the
Exchange Act. The underlying security issuer or guarantor, as applicable,
currently files reports, proxy statements and other information with the SEC.
For information regarding such underlying security issuer or guarantor, you
should refer to such reports. These periodic, current and other reports and
other information can be inspected and copied at the public reference facilities
maintained by the SEC at Room 1024, 450 Fifth Street, N.W., Washington, D.C.
20549. Copies of those materials can be obtained by making a written request to
the SEC, Public Reference Section, 450 Fifth Street, N.W., Washington, D.C.
20549, at prescribed rates. The SEC also maintains a website on the internet at
http://www.sec.gov at which users can view and download copies of reports,
proxy, information statements and other information filed electronically. In
addition, those reports and other information may also be obtained from the
underlying security issuer by making a request to the underlying security
issuer. The trust, the trustee, the Registrant, and their affiliates have not
verified, have not undertaken to verify, and will not verify, the content of any
such reports or information. The name and the central index key (CIK) for each
underlying security issuer or guarantor is set forth below:
Trust Underlying Security Issuer or Guarantor CIK
2001-1 International Business Machines Corp 0000051143
2001-2 Citizens Communications Company 0000020520
2001-3 BellSouth Corporation 0000732713
2001-4 Cummins Inc. 0000026712
2001-6 Bank of America Corporation 0000070858
2001-7 SAFECO Corporation 0000086104
2001-8 AT&T Corp. 0000005907
2002-1 Aon Corp 0000315293
2002-3 DPL Inc. 0000787250
2002-4 DPL Inc. 0000787250
2002-5 SAFECO Corporation 0000086104
2002-6 JP Morgan Chase &Co. 0000019617
2002-7 DPL Inc. 0000787250
2002-8 AT&T Wireless Services, Inc. 0001138234
2002-9 Verizon Communications Inc. 0000732712
2002-10 Credit Suisse First Boston (USA), Inc. 0000029646
2002-11 American International Group, Inc. 0000005272
2002-12 GE Global Insurance Holding Corporation 0000947354
2002-13 GE Global Insurance Holding Corporation 0000947354
2002-14 General Electric Capital Corporation 0000040554
PART I
ITEM 1. BUSINESS
Not Applicable
ITEM 2. PROPERTIES
Not Applicable
ITEM 3. LEGAL PROCEEDINGS
None
ITEM 4. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS.
None
PART II
ITEM 5. MARKET FOR REGISTRANT'S COMMON EQUITY AND RELATED STOCKHOLDER MATTERS
The Units issued by the SATURNS trusts listed below representing investors'
interest in such trust are represented by one or more physical certificates
registered in the name of Cede & Co., the nominee of The Depository Trust
Company. These Units are listed on the New York Stock Exchange:
SATURNS Trust No. 2001-1 (IBM debentures)
SATURNS Trust No. 2001-2 (Citizens Communications debentures)
SATURNS Trust No. 2001-3 (BellSouth debentures)
SATURNS Trust No. 2001-4 (Cummins Engine debentures)
SATURNS Trust No. 2001-6 (Bank of America capital securities)
SATURNS Trust No. 2001-7 (SAFECO capital securities)
SATURNS Trust No. 2001-8 (AT&T debentures)
SATURNS Trust No. 2002-1 Class A Units (Aon capital securities)
SATURNS Trust No. 2002-3 Class A Units (DPL capital securities)
SATURNS Trust No. 2002-4 Class A Units (DPL capital securities)
SATURNS Trust No. 2002-5 Class A Units (SAFECO capital securities)
SATURNS Trust No. 2002-6 Class A Units (JP Morgan Chase capital securities)
SATURNS Trust No. 2002-7 Class A Units (DPL capital securities)
SATURNS Trust No. 2002-8 (AT&T Wireless debentures)
SATURNS Trust No. 2002-9 Class A Units (Verizon Global Funding debentures)
SATURNS Trust No. 2002-10 Class A Units (CSFB USA debentures)
SATURNS Trust No. 2002-11 Class A Units (AIG capital securities)
SATURNS Trust No. 2002-12 Class A Units (GE Global debentures)
SATURNS Trust No. 2002-13 Class A Units (GE Global debentures)
SATURNS Trust No. 2002-14 Class A Units (GECC debentures)
ITEM 6. SELECTED FINANCIAL DATA
Not Applicable
ITEM 7. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND
RESULTS OF OPERATIONS
Not Applicable
ITEM 7A. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK
Not Applicable
ITEM 8. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA
Not Applicable
ITEM 9. CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND
FINANCIAL DISCLOSURE
None
ITEM 9A. CONTROLS AND PROCEDURES
Not Applicable
PART III
ITEM 10. DIRECTORS AND EXECUTIVE OFFICERS OF THE REGISTRANT
Not Applicable
ITEM 11. EXECUTIVE COMPENSATION
Not Applicable
Item 12. SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT
None
ITEM 13. CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS
None
ITEM 14. PRINCIPAL ACCOUNTING FEES AND SERVICES
Not Applicable
PART IV
ITEM 15. EXHIBITS, FINANCIAL STATEMENT SCHEDULES, AND REPORTS ON FORM 8-K
(a) The following documents are filed as part of this Report: None
(b) Reports on Form 8-K:
See Table Below:
- --------------- --------- ---------------------------- ------------------------------- ----------------------------
SATURNS Trust Closing Collateral Payment Dates Form 8-K Filing Dates (Not
No.: Date Trust Agreement Filings in
connection with Closing
Date)
For FY 2002
- --------------- --------- ---------------------------- ------------------------------- ----------------------------
- --------------- --------- ---------------------------- ------------------------------- ----------------------------
2001-1 4/24/01 IBM Debentures due 2096 June 1 and December 1 December 13, 2001, June
25, 2002
- --------------- --------- ---------------------------- ------------------------------- ----------------------------
2001-2 5/11/01 Citizens Communications April 1 and October 1 April 5, 2002, October 21,
Company Debentures due 2046 2002
- --------------- --------- ---------------------------- ------------------------------- ----------------------------
2001-3 5/22/01 BellSouth Corporation January 15 and July 15 January 17, 2002, July 18,
Debentures due 2097 2002
- --------------- --------- ---------------------------- ------------------------------- ----------------------------
2001-4 6/4/01 Cummins Engine Debentures March 1 and September 1 March 8, 2002, September
due 2098 12, 2002
- --------------- --------- ---------------------------- ------------------------------- ----------------------------
2001-5 7/10/01 WorldCom Debentures due May 15 and November 15 May 23, 2002,
2031
Terminated July 2002 Termination Related:
July 31, 2002, August 1,
2002
- --------------- --------- ---------------------------- ------------------------------- ----------------------------
2001-6 7/16/01 Bank of America Capital March 31, June 30, September January 10, 2002, April 5,
Securities due 2026 30, December 31 2002, July 26, 2002,
September 26, 2002
- --------------- --------- ---------------------------- ------------------------------- ----------------------------
2001-7 12/12/01 SAFECO Capital Trust I January 15 and July 15 January 30, 2002, July 18,
Capital Securities due 2037 2002, July 26, 2002
- --------------- --------- ---------------------------- ------------------------------- ----------------------------
2001-8 12/20/01 AT&T Debentures due 2029 March 15 and September 15 March 22, 2002, July 26,
2002, September 20, 2002
- --------------- --------- ---------------------------- ------------------------------- ----------------------------
2002-1 2/26/02 Aon Capital A Capital January 1 and July 1 July 11, 2002, July 26,
Securities due 2027 2002
- --------------- --------- ---------------------------- ------------------------------- ----------------------------
2002-3 3/19/02 DPL Capital Trust II March 1 and September 1 September 12, 2002
Capital Securities due 2031
- --------------- --------- ---------------------------- ------------------------------- ----------------------------
2002-4 4/25/02 DPL Capital Securities due March 1 and September 1 September 12, 2002
2031
- --------------- --------- ---------------------------- ------------------------------- ----------------------------
2002-5 5/14/02 SAFECO Capital Securities January 15 and July 15 July 24, 2002
due 2037
- --------------- --------- ---------------------------- ------------------------------- ----------------------------
2002-6 6/19/02 JPM Capital Trust II February 1 and August 1 August 20, 2002
Capital Securities due 2027
- --------------- --------- ---------------------------- ------------------------------- ----------------------------
2002-7 7/9/02 DPL Capital Trust II March 1 and September 1 September 12, 2002
Capital Securities due 2031
- --------------- --------- ---------------------------- ------------------------------- ----------------------------
2002-8 7/11/02 AT&T Wireless Debentures March 1 and September 1 September 12, 2002
due 2031
- --------------- --------- ---------------------------- ------------------------------- ----------------------------
2002-9 7/30/02 Verizon Global Funding June 1 and December 1 None required during
Debentures due 2030 fiscal year
- --------------- --------- ---------------------------- ------------------------------- ----------------------------
2002-10 8/20/02 CSFB USA Debentures due January 15 and July 15 None required during
2032 fiscal year
- --------------- --------- ---------------------------- ------------------------------- ----------------------------
2002-11 10/28/02 American General June 1 and December 1 None required during
Institutional Capital A fiscal year
Capital Securities due 2045
- --------------- --------- ---------------------------- ------------------------------- ----------------------------
2002-12 10/29/02 GE Global Insurance June 15 and December 15 None required during
Holding Corp. Debentures fiscal year
due 2030
- --------------- --------- ---------------------------- ------------------------------- ----------------------------
2002-13 10/29/02 General Electric Global February 15 and August 15 None required during
Insurance Holding Corp. fiscal year
Debentures due 2026
- --------------- --------- ---------------------------- ------------------------------- ----------------------------
2002-14 11/14/02 General Electric Capital March 15 and September 15 None required during
Corp. Debentures due 2032 fiscal year
- --------------- --------- ---------------------------- ------------------------------- ----------------------------
(c) Exhibits:
Exhibit 31.1 Rule 13a-14(d) Certification
Exhibit 31.2 Trustee Compliance Certification
(d) Not applicable
SIGNATURES
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, thereunto duly authorized.
Date: February 19, 2004
MS STRUCTURED ASSET CORP.
(Registrant)
By: /s/ John Kehoe
-------------------------
Name: John Kehoe
Title: Vice President
Date: February 19, 2004