UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

~~WASHINGTON~~Washington, D.C. 20549

~~_______________________~~FORM 8-K

FORM 8-K _______________________

CURRENT REPORT

~~PURSUANT~~Pursuant TOto ~~SECTION~~Section 13 OR 15 (d) OFof ~~THE~~The Securities Exchange Act of 1934

~~SECURITIES~~Date ~~EXCHANGE~~of ~~ACT~~Report OF(Date ~~1934~~of earliest event reported): July 16, 2010

~~Date~~MS ofStructured ~~report~~Asset Corp. (~~Date~~Issuer ofin ~~earliest~~Respect ~~event~~of ~~reported):~~SATURNS ~~July~~Trust ~~14,~~No. ~~2010~~2003-05)

	MS Structured Asset Corp. on behalf of SATURNS Trust No. 2003-5
	(Exact Name of Registrant as Specified in Charter)
Delaware	001-16443, 333-64879	13-4026700
(State or Other Jurisdiction	(Commission File	(IRS Employer
of Incorporation)	Number)	Identification No.)
1585 Broadway, Second Floor
New York, New York		10036
Attention: In-Young Chase
(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)

(Exact name of registrant as specified in its charter)

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

Delaware	001-16443	13-4026700
(State or other jurisdiction of incorporation)	(Commission File Number)	(IRS Employer Identification No.)

o1585 ~~Soliciting~~Broadway, ~~material~~New ~~pursuant~~York, toNew ~~Rule~~York ~~14a-12 under the Exchange Act (17 CFR 240.14a-12)~~10036

~~o Pre-commencement communications pursuant to Rule 14d-2~~(b)Address ~~under~~of ~~the~~principal ~~Exchange~~executive ~~Act~~offices, ~~(17~~including ~~CFR~~Zip ~~240.14d-2(b~~Code))

oRegistrant's ~~Pre-commencement~~telephone ~~communications~~number, ~~pursuant~~including toarea ~~Rule~~code: ~~13e-4~~(c212) ~~under the Exchange Act (17 CFR 240.13e~~761-~~4(c))~~2520

~~Section 8 Other Events~~N/A

~~Item~~(Former ~~8.01 Other~~name ~~Events~~or former address, if changed since last report.)

OnCheck ~~July 14, 2010,~~ the ~~Company~~appropriate ~~issued~~box abelow ~~press~~if ~~release regarding~~ the ~~receipt~~Form of8-K afiling ~~notice~~is of intended ~~exercise of 41,000 Call Options representing the right~~ to ~~call~~simultaneously ~~$41,000,000~~satisfy ~~aggregate principal amount of~~ the ~~7.45%~~filing ~~Debentures~~obligation of ~~Ford Motor Company held by~~ the ~~Trust~~registrant onunder ~~July~~any ~~28, 2010, a copy~~ of ~~which~~the ~~press~~following ~~release~~provisions is(see ~~attached~~General asInstruction ~~Exhibit 99~~A.~~1 hereto~~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.

This current report on Form 8-K relates to the semi-annual distribution reported to the holders of SATURNS Trust No. 2003-05, which was made on July 16, 2010.

Section 9 - Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits.

(Exhibit No. Description)

99.1 Semi-Annual distribution report pursuant to the Trust Agreement for the distribution on July 16, 2010.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the ~~Registrant~~registrant has duly caused this report to be signed on its behalf by the undersigned ~~hereto~~hereunto duly authorized.

Date: July 14, 2010

		Bank of America, National Association as successor by merger to LaSalle Bank National Association, in its capacity as Trustee Under the Trust Agreement on behalf of MS Structured Asset Corp., Registrant

Date: July 19, 2010	By:	/s/ Vanessa L. Danner
		Name: Vanessa L. Danner
		Title: Vice President

MS STRUCTURED ASSET CORP. (Registrant)

By: /s/ In-Young Chase

Name: In-Young Chase Title: Vice President

EXHIBIT INDEX

Exhibit 99.1 Press release, dated July 14, 2010

Filing Compare · MS STRUCTURED SATURNS SERIES 2003-5