Business: Merrill Lynch Depositor Inc., IndexPlus Trust Series 2003-1 due 5/15/2033, 6.0518% Initial Pass-Through Rate, issued in $25 denominations per certificate. Underlying securities are fifteen publicly issued investment grade rated corporate long term debt securities (see page S-21 of the prospectus for a list) plus some U.S. Treasury STRIPS. The underlying debt securities mature on varying dates ranging from 5/15/2029 to 5/15/2033. Certificate holders will receive their return of principal when the individual underlying securities mature or are removed from the trust for any reason. The certificates pay an initial pass-through rate of 6.0518% ($1.51295) per annum distributions semiannually on 6/20 & 12/20 to holders of record on the business day immediately preceding the payment date (NOTE: the ex-dividend date is one business day prior to the record date). The certificates are rated were rated A- by Fitch Ratings and A3 by Moodys at the date of issue. For further information on the IndexPlus Certificates, see the IPO Prospectus by clicking on the ‘Link to IPO Prospectus’ provided below.