SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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FORM 10-K
ANNUAL REPORT
Pursuant to Section 13 or 15(d) of
The Securities Exchange Act of 1934
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For the fiscal year ended: Commission file number:
December 31, 2003 001-31941
MERRILL LYNCH DEPOSITOR, INC.
(ON BEHALF OF INDEXPLUS TRUST SERIES 2003-1)
(Exact name of registrant as specified in its charter)
Delaware 13-3891329
(State or other (I. R. S. Employer
jurisdiction of Identification No.)
incorporation)
World Financial Center, 10080
New York, New York (Zip Code)
(Address of principal
executive offices)
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Registrant's telephone number, including area code: (212) 449-1000
Securities registered pursuant to Section 12(b) of the Act:
INDEXPLUS Trust Certificates Series 2003-1, listed on The New York Stock
Exchange.
Securities registered pursuant to Section 12(g) of the Act:
Not Applicable.
Indicate by check mark whether the 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 [ ]
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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.
Indicate by check mark whether the registrant is an accelerated filer (as
defined in Rule 12b-2 of the Act).
Yes [ ] No [X]
State the aggregate market value of the voting and non-voting common equity held
by non-affiliates of the registrant. The aggregate market value shall be
computed by reference to the price at which the common equity was sold, or the
average bid and asked prices of such common equity, as of the last business day
of the registrant's most recently completed second fiscal quarter.
Not Applicable.
Indicate the number of shares outstanding for each of the registrant's class of
common stock, as of the latest practicable date.
Not Applicable.
DOCUMENTS INCORPORATED BY REFERENCE
None.
PART I
Item 1. Business
For information with respect to the underlying securities held by
INDEXPLUS Trust Series 2003-1, please refer to respective
periodic reports, including annual reports on Form 10-K,
quarterly reports on Form 10-Q and current reports on Form 8-K,
and other information of: The Boeing Company (Commission file
number 001-00442); Citigroup Inc. (Commission file number
001-09924); Credit Suisse First Boston (USA), Inc. (Commission
file number 001-06862); DaimlerChrysler North
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America Holding Corporation (Commission file number 333-13160);
DaimlerChrysler AG (Commission file number 001-12356); Ford Motor
Company (Commission file number 001-03950); General Electric
Capital Corporation (Commission file number 001-06461); General
Motors Acceptance Corporation (Commission file number 001-03754);
The Goldman Sachs Group, Inc. (Commission file number 001-14965);
Johnson & Johnson (Commission file number 001-03215); The May
Department Stores Company (New York) (Commission file number
333-42940); The May Department Stores Company (Delaware)
(Commission file number 001-00079); Time Warner Inc. (Commission
file number 001-15062); Time Warner Companies, Inc. (Commission
file number 001-08637); Turner Broadcasting System, Inc.
(Commission file number 001-08911); United States Department of
Treasury; Valero Energy Corporation (Commission file number
001-04718); Verizon Communications Inc. (Commission file number
001-08606); Verizon Global Funding Corp. (Commission file number
333-73612); Viacom Inc. (Commission file number 001-09553);
Viacom International Inc. (Commission file number 001-15153) and
Weyerhaeuser Company (Commission file number 001-04825) 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 1024, 450
Fifth Street, NW, 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 450 Fifth Street, NW, 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 respective underlying securities issuers
have filed electronically with the SEC.
Although we have no reason to believe the information concerning
the respective underlying securities or the respective underlying
securities issuers contained in the underlying securities
issuer's Exchange Act reports are 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 respective underlying securities issuers (including, without
limitation, no investigation as to their respective financial
condition or creditworthiness) or of the respective underlying
securities has been made. You should obtain and evaluate the same
information concerning the respective underlying securities
issuers as you would obtain and evaluate if your investment were
directly in the respective underlying securities or in other
securities issued by the respective underlying securities
issuers. There can be no assurance that events affecting the
respective underlying securities or the respective underlying
securities issuesr have not occurred
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or have not yet been publicly disclosed which would affect the
accuracy or completeness of the publicly available documents
described above.
INDEXPLUS Trust Series 2003-1 was established on December 17,
2003 pursuant to the INDEXPLUS Trust Certificates Series 2003-1
Series Supplement dated December 17, 2003 as attached as an
exhibit to the Registrant's current report on Form 8-K filed with
the Securities and Exchange Commission on December 19, 2003.
Item 2. Properties
None.
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 Trust Certificates issued by INDEXPLUS Trust Series 2003-1
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
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.
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Item 9. Changes in and Disagreements With Accountants on Accounting and
Financial Disclosure
None.
Item 9A. Controls and Procedures
The Registrant has procedures so as to provide reasonable
assurance that its future Exchange Act filings will be filed
within the applicable time periods.
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
and Related Stockholder Matters
(a) 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 13. Certain Relationships and Related Party 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)(1) Financial Statements: Not Applicable
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(a)(2) Financial Statement Schedules: Not Applicable
(a)(3) List of Exhibits
The following exhibits are filed as part of, and
incorporated by reference into, this Annual Report on Form
10-K:
31.1 Certification of President of Registrant dated
March 30, 2004, 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
fiscal year ended December 31, 2003.
99.1. Trustee's Annual Compliance Certificate dated
March 30, 2004.
99.2. Independent Accountants' Report dated March 30,
2004, Management's Assertion on Compliance with
PPLUS Minimum Servicing Standards dated March
30, 2004 and PPLUS Minimum Servicing Standards.
(b) Reports on Form 8-K
Current Report on Form 8-K filed with the Securities
and Exchange Commission on December 19, 2003 which
includes as exhibits thereto, the Terms Agreement
between the Registrant and Merrill Lynch, Pierce,
Fenner & Smith, Incorporated dated December 11, 2003
and the INDEXPLUS Trust Certificates Series 2003-1
Series Supplement, dated as of December 17, 2003,
between the Registrant and the Trustee.
(c) Exhibits
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.
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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, hereunto duly authorized.
MERRILL LYNCH DEPOSITOR, INC.
Date: March 30, 2004 By: /s/ Michael Frank Connor
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Name: Michael Frank Connor
Title: President
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