UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
__________
FORM 10-K
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
December 31, 2013
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
333-101155,
001-32388
MS STRUCTURED ASSET CORP.
On
behalf of
SATURNS Trust No. 2005-1
(Exact name of
registrant as specified in its charter)
Delaware
|
13-4026700
|
(State or other jurisdiction of incorporation or organization)
|
(IRS Employer Identification No.)
|
|
|
1585 Broadway, Second Floor
New York, New York
Attention: In-Young Chase
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10036
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(Address of principal executive office)
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(Zip Code)
|
|
|
Registrant’s telephone number, including area code:
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(212) 761-2457
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Securities registered pursuant to
Section 12(b) of the Act:
Title of Each Class
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Name of Each Exchange on Which Registered
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SATURNS Goldman Sachs Capital I Capital
Security Backed Series 2005-1 Class A Callable Units
|
New York Stock Exchange
|
Securities registered pursuant to
Section 12(g) of the Act:
None
Indicate by check mark if the registrant is
a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes ___ No
X
Indicate by check
mark if the registrant is not required to file reports pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934.
Yes ___ No
X
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 whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File
required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§ 232.405 of this chapter) during the preceding
12 months (or for such shorter period that the registrant was required to submit and post such files). Yes ___ 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. [ ]
Indicate by check mark whether the registrant
is a large accelerated filer, an accelerated filer, or a non-accelerated filer. See definition of “accelerated filer and
large accelerated filer” in Rule 12b-2 of the Exchange Act. (Check one):
Large accelerated filer ___ Accelerated filer ___ Non-accelerated
filer
X
Smaller reporting company ___
Indicate by check mark
whether the registrant is a shell company (as defined in Rule 12b-2 of the Act).
Yes ___ No
X
All of the common stock of the registrant
is held by Morgan Stanley. As of March 27, 2014, 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.
Introductory Note
The Registrant is the depositor under
the trust agreements for its 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.
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, 100 F Street, N.E., Washington, D.C. 20549. Copies of those materials can be obtained by making a written request
to the SEC, Public Reference Section, 100 F Street, N.E., 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
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Underlying Security Issuer or Guarantor
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CIK
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2005-1
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Goldman Sachs Capital I
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0001277121
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Guarantor – The Goldman Sachs Group, Inc.
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0000886982
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PART I
ITEM 1. BUSINESS
Not Applicable
ITEM 1A. RISK FACTORS
Not Applicable
ITEM 1B. UNRESOLVED STAFF COMMENTS
None
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. The Units are listed on the New York Stock Exchange:
SATURNS Trust No. 2005-1 Class A Units (Goldman Sachs Capital I
Capital Security Backed)
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
ITEM 9B. OTHER INFORMATION
None
PART III
ITEM 10. DIRECTORS AND EXECUTIVE OFFICERS OF THE REGISTRANT
None
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 No.:
|
Closing Date
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Payment Dates
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Form 8-K Filing Dates (Not Trust Agreement
Filings in connection with Closing Date)
For FY 2013
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2005-1
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12/15/04
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February 15 and August 15
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February 19, 2013 and August 19, 2013
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SATURNS
Trust No.:
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Closing Date
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Event Description
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Form 8-K Filing Dates (Not Trust Agreement
Filings in connection with Closing Date or filings related to Payment Dates)
For FY 2013
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2005-1
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12/15/04
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Not Applicable
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None
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(c) Exhibits:
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Exhibit 23
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Consent of Grassi & Co. (See Exhibit 99.1 – contained in final paragraph of accountants’ letter)
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Exhibit 31.1
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Rule 13a-14(d) Certification
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Exhibit 31.2
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Trustee Compliance Certification (U.S. Bank National Association)
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Exhibit 99.1
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Report of Grassi & Co.
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(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: March 27,
2014
MS
STRUCTURED ASSET CORP.
(Registrant)
By:
/s/In-Young
Chase
Name: In-Young
Chase
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