UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
______________________________
FORM
8-K
CURRENT
REPORT
Pursuant
to Section 13 OR 15(d) of the Securities Exchange Act of 1934
Date
of Report (Date of earliest event reported): March 15, 2010
Structured Obligations
Corporation
(Exact
name of registrant as specified in its charter)
Delaware
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001-32015
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13-3741177
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(State
or other jurisdiction of incorporation or organization)
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(Commission
File Number)
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(IRS
Employer Identification Number)
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270
Park Avenue, New York, New
York 10013
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(Address
of principal executive
offices) (Zip
Code)
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Registrant's
telephone number including area code (212) 834-6000.
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Check the
appropriate box below if the Form 8-K filing is intended to simultaneously
satisfy the filing obligation of the registrant under any of the following
provisions:
□ Written
communications pursuant to Rule 425 under the Securities Act (17CFR
230.425)
□
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17CFR
240.14a-12)
□
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act
(17CFR 240.14d-2(b))
□
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act
(17CFR 240.13e-4(c))
1
Section
8 - Other Events
Item
8.01 Other Events.
This
current report on Form 8-K relates to a distribution made to holders of the
Certificates issued by the Select Notes Trust LT 2003-1.
Each
issuer of an underlying security, or guarantor thereof, or successor thereto, as
applicable, is subject to the
information reporting requirements of the Securities Exchange Act of 1934, as
amended (the "Exchange Act"). Periodic reports and other information
required to be filed pursuant to the Exchange Act, by an issuer of an underlying
security, or guarantor thereof, or successor thereto, as applicable, may be
inspected and copied at the public reference facilities maintained by the
Securities and Exchange Commission (the "Commission") at 450 Fifth Street, N.W.,
Washington, D.C. 20549. The Commission also maintains a site on the World Wide
Web at "http://www.sec.gov" at which users can view and download copies of
reports, proxy and information statements and other information filed
electronically through the Electronic Data Gathering, Analysis and Retrieval
system. Neither Structured Obligations Corporation nor the trustee has
participated in the preparation of such reporting documents, or made any due
diligence investigation with respect to the information provided therein.
Neither Structured Obligations Corporation nor the trustee has verified the
accuracy or completeness of such documents or reports. There can be no assurance
that events affecting an issuer of an underlying security, or guarantor thereof,
or successor thereto, as applicable, or an underlying security have not occurred
or have not yet been publicly disclosed which would affect the accuracy or
completeness of the publicly available documents described above.
Section
9- Financial Statements and Exhibits
Item
9.01 Financial Statements and Exhibits.
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(c) Exhibits:
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1.
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Trustee’s
Report with respect to the March 15, 2010 Distribution Date for the Select
Notes Trust LT 2003-1
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2
SIGNATURES
Pursuant
to the requirements 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.
By: /s/ Chadwick S. Parson | |
________________________________ | |
Name: Chadwick S. Parson | |
Title: Authorized Signatory |
March 15,
2010
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EXHIBIT
INDEX
Exhibit
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Page
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1
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Trustee’s
Report with respect to the March 15, 2010 Distribution Date for the Select
Notes Trust LT 2003-1
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5
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4
Exhibit 1 |
To the
Holders of:
Select
Notes Trust LT 2003-1
Long
Term Certificates Series 2003-1
*CUSIP: 81619PAA5
U.S. Bank
Trust National Association, as Trustee for the Select Notes Trust LT 2003-1 (the
“Trust”), hereby gives notice with respect to Interest Period commencing on the
day after February 16, 2009 and including the March 15, 2010 Interest
Distribution Date (the “Interest Period”) in respect of the March 15, 2010
Interest Distribution Date (the “Interest Distribution Date”) as
follows:
1.
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The
amount of interest received by the Trust during the Interest Period is as
set forth below (each Certificate holder’s pro rata portion of this amount
is the amount to be included in such Certificate holder’s Form
1099).
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$
315,625.00
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a.
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Per
certificate held amount of interest income to be included in Form 1099 for
the year ending December 31, 2010 is set forth
below.
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$
6.674244
2.
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The
total of all interest distributed to Certificate holders during the
Interest Period is set forth below.
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$
235,267.75
3.
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Total
amount of advances made to the Trustee on the Interest Distribution Date
is
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$
0.00
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4.
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Total
amount of advances repaid to the Advancing Party during the Interest
Period is
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$
80,000.00
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5.
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The
net total of repayments made during the Interest Period is
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$
80,000.00
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a.
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The
net amount owed by the Trust to the Advancing Party on the Interest
Distribution Date is set forth
below.
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$
641,714.00
6.
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The
total amount of interest expense paid to the Advancing Party on the
Interest Distribution Date is set forth below (each Certificateholders pro
rata portion of this amount should be included in a footnote to such
Certificate holder’s Form 1099 indicating that such amount should
constitute investment indebtedness interest, which can be deducted by
non-corporate taxpayers to the extent of such net investment
income).
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$
21,072.00
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a.
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Per
certificate held amount of interest expense to be included in Form 1099
for the year ending December 31, 2010 is set forth
below.
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$
0.445591
7.
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At
the close of business on the Interest Distribution Date, there were 52,290
Certificates outstanding, which after applying the factor of 90.437942%,
results in 47,290 notional amount.
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8.
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Payments
made on Underlying Securities during the Interest period are as set forth
below.
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Payment
Date
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Description
of Underlying Security
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Principal
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Interest
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03/15/2010
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General
Electric Capital Corporation 6.75% Medium-Term Notes, Series A due March
15, 2032.
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$
0.00
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$
168,750.00
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02/22/2010
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Citigroup
Inc. 5.875% Subordinated Notes due February 22, 2033.
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$
0.00
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$
146,875.00
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U.S.
Bank Trust National Association, as Trustee
*The
Trustee shall not be held responsible for the selection or use of the CUSIP
number nor is any representation made as to its correctness. It is
included solely for the convenience of the Holders.
5