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MSDW Structured Asset SATURNS 2002-01, 7.50% Aon Capital
Ticker Symbol: MJO*     CUSIP: 80409X205     Exchange: NYSE
Security Type:   Third Party Trust Preferred
* NOTE: This security is no longer trading as of 3/09/2007

Security has been Called for:  Friday, March 9, 2007

March 9, 2007 -- Structured Asset Trust Unit Repackagings (SATURNS), Aon Capital Security Backed Series 2002-1 Trust (NYSE:MJO), announced today that a "Trust Wind Up Event" has occurred under the terms of the Trust Agreement governing the Trust and that the Trust will liquidate its assets and terminate. On February 27, 2007, the Call Options holder for the SATURNS 2002-1 Trust notified the Trust of its intent to exercise its Call Options representing its right to call all of the Underlying Securities owned by the Trust. Upon settlement of the Call Options on or about March 9, 2007, Unitholders will receive the par value plus accrued interest, of each Class A Unit and accrued interest outstanding on each Class B Unit. Contact: LaSalle Bank National Association Andy Streepey, ABS Trust Services, 312-904-9387

QUANTUMONLINE.COM SECURITY DESCRIPTION:  MSDW Structured Asset Corp., Structured Asset Trust Unit Repackagings (SATURNS), Aon Capital Security-Backed, Series 2002-1, 7.50% Class A Callable Units, issued in $25 denominations. Underlying securities are the 8.205% trust preferred capital securities due 1/01/2027 issued by Aon Capital A and guaranteed by Aon Corp. (NYSE: AOC). The SATURNS are redeemable anytime at the issuer's option on 30 to 60 days notice at $25 per unit plus accrued and unpaid dividends. If redeemed prior to 2/26/2007 the holders may receive an additional amount of up to $2.50 per unit. Distributions of 7.50% per annum are paid semi-annually on 1/1 & 7/1 to holders of record on 12/15 & 6/15 respectively. The company has the right, at any time, to defer interest payments for up to 10 consecutive semi-annual periods (but not beyond the maturity date). The trust's assets consist of the 8.205% Junior Subordinated Deferrable Interest Debentures due 1/01/2027 which were purchased from the company using the funds generated from the sale of the trust preferred securities. To be issued the units must be assigned a rating of at least BBB+ by S&P and Baa1 by Moody's. Units are expected to trade flat, which means accrued interest will be reflected in the trading price and the purchasers will not pay and the sellers will not receive any accrued and unpaid interest. On 11/8/02 MSDW Structured Asset Corp. changed their name to MS Structured Asset Corp. See the IPO prospectus for further information on the SATURNS by clicking on the ‘Link to IPO Prospectus’ provided below.
Stock
Exchange
Cpn Rate
Ann Amt
LiqPref
CallPrice
Call Date
Matur Date
Moodys/S&P
Dated
Distribution Dates 15%
Tax Rate
NYSE
Chart
7.50%
$1.875
$25.00
$25.00
Called for
3/09/2007

1/01/2027
Baa3 BBB-
1/15/2006
1/1 & 7/1
Click for MW ExDiv Date
Click for Yahoo ExDiv Date
No

Go to Parent Company's Record (AON)

IPO - 2/20/2002 - 1.00 Million Units @ $25.00/unit.    Link to IPO Prospectus
Market Value $22.4 Million

Company's Online Information Links
HOME PAGE:     http://www.morganstanley.com/

(This parent company URL is for reference only and does not have specific information on the security.)

Company's Online SEC EDGAR Filings
Company's SEC EDGAR Filings Go to SEC Filings

Address and Phone Numbers
Address:   1585 Broadway, New York, NY 10036
Main Phone Number 212-761-4000
Fax Number Not Available

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