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EX-99.1 - MS STRUCTURED TILES SERIES 2005-1tiles8k-20051ex991_0717.htm

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): July 16, 2012
 
MS Structured Asset Corp. on behalf of TILES Trust No. 2005-1
     
(Exact Name of Registrant as Specified in Charter)
 
Delaware  333-101155     13-4026700
(State or Other Jurisdiction
of Incorporation)
(Commission File
Numbers)
(IRS Employer
Identification No.)
     
Attention: Joshua Schanzer
1585 Broadway, 3rd Floor 
New York, New York
10036
(Address of Principal Executive Offices)     (Zip Code) 
     
Registrant’s telephone number, including area code: 212-761-2457 
     
   Not Applicable  
  (Former Name or Former Address, if Changed Since Last Report)
 
 
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 (see General Instruction A.2. below):

[ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 
 

 
 
Section 8                      Other Events
 
Item 8.01                      Other Events
 
On July 16, 2012, Morgan Stanley Capital Services LLC (“MSCS”), the swap counterparty to TILES Trust No. 2005-1 under an interest rate swap transaction dated January 6, 2006 (the "ISDA Agreement"), provided notice to the Trust and the Trustee that in accordance with the terms of the ISDA Agreement MSCS, as the Non-Affected Party has calculated the amount due to MSCS under Section 6(e) of the ISDA Agreement in connection with the Trust Wind-Up Event and Additional Termination Event under the ISDA Agreement that occurred on July 12, 2012.  As a result of the amount payable to MSCS, the funds available for distribution to the holders of the Units on July 18, 2012 will be equal to $459.98 of Principal per $1,000 Unit and $10.17 of Interest Accrued and Unpaid per $1,000 Unit.  A copy of the notice received from MSCS is attached as Exhibit 99.1 hereto.
 

 
 

 


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 hereto duly authorized.

Date:  July 18, 2012
 
MS STRUCTURED ASSET CORP.
(Registrant)
 
By: /s/  In-Young Chase
Name:  In-Young Chase
Title:    Vice President
 
 
 

 
 
EXHIBIT INDEX
 
Exhibit 99.1        Statement Under Section 6(d)(i) of the ISDA Master Agreement, dated July 16, 2012 (attachments omitted).