IPB

Business Context and Reporting Period

This Form 8-K is filed by Merrill Lynch Depositor, Inc. on behalf of INDEXPLUS Trust Series 2003-1 (Trading Symbol: IPB). The report date is December 20, 2024. The filing serves to notify holders of a distribution event and provides a list of underlying securities issuers held by the trust.

Key Financial Metrics

The filing does not provide specific numerical values for revenue, profit, cash flow, margins, debt, or liquidity. The document is a notification of a distribution event rather than a financial statement.

• Event: Distribution to holders of INDEXPLUS Trust Certificates Series 2003-1.
• Date of Distribution: December 20, 2024.
• Underlying Assets: The trust holds securities from various issuers including The Boeing Company, Citigroup Inc., Ford Motor Company, Johnson & Johnson, Verizon Communications Inc., and others.

Material Changes

No material changes to financial performance or operations are reported in this filing. The document references a specific condition regarding DaimlerChrysler North America Holding Corp. (now Daimler Finance North America LLC):

• The issuer and guarantor no longer file periodic Exchange Act reports.
• The trust is not required to liquidate these holdings unless they comprise 10% or more of the total trust assets.
• If the concentration of these assets reaches 10%, the trust would be required to liquidate the holding.

Guidance, Outlook, and Risks

Management Commentary and Due Diligence:

• The depositor and trustee did not participate in the preparation of the underlying issuers' reports and made no due diligence inquiries regarding the information provided therein.
• No investigation was made regarding the financial condition or creditworthiness of the underlying securities issuers.
• Investors are advised to obtain and evaluate information concerning the underlying issuers as if investing directly in their securities.

Risks and Contingencies:

• There is no assurance that events affecting the underlying securities or issuers have not occurred or have not been publicly disclosed which could affect the accuracy of available documents.
• Reliance on the reliability of information contained in the underlying securities issuers' Exchange Act reports is placed on the investor.

Investor Verification Checklist

• Verify the specific amount of the distribution declared for December 20, 2024, by reviewing the attached Exhibit 99.1 (Trustee's report) or subsequent press releases.
• Review the current periodic reports (10-K, 10-Q) of the major underlying issuers (e.g., Boeing, Citigroup, Ford, Johnson & Johnson) to assess their current financial health.
• Confirm the current percentage of Daimler Finance North America LLC assets held by the trust to ensure it remains below the 10% liquidation threshold.
• Understand that the trust does not perform independent due diligence on the creditworthiness of the underlying assets.