8-K

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): December 21, 2020

MERRILL LYNCH DEPOSITOR, INC.

(on behalf of INDEXPLUS TRUST SERIES 2003-1)

(Exact name of registrant as specified in its charter)

Delaware	001-31941	13-3891329
(State or other	(Commission	(I. R. S. Employer
jurisdiction  of	File Number)	Identification No.)
incorporation)
One Bryant Park, 4^th^ FL		10036
New York, NY		(Zip Code)
(Address of principal
executive offices)

__________________________

Registrant’s telephone number, including area code: (646) 855-6745

INFORMATION TO BE INCLUDED IN REPORT

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Check the appropriate box below if the Form 8K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2.):

[  ]  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))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class	Trading<br><br> <br>Symbol(s)	Name of each exchange on which <br><br>registered
INDEXPLUS TRUST SERIES 2003-1	IPB	NYSE
Section 1.	Registrant’s Business and Operations
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Not applicable.

Section 2.	Financial Information

Not applicable.

Section 3.	Securities and Trading Markets

Not applicable.

Section 4.	Matters Related to Accountants and Financial Statements

Not applicable.

Section 5.	Corporate Governance and Management

Not applicable.

Section 6.	Asset-Backed Securities

Not applicable.

Section 7.	Regulation FD

Not applicable.

Section 8.	Other Events
Item 8.01	Other events
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99.1	Distribution to holders of the INDEXPLUS Trust Certificates Series 2003-1 on December 21, 2020.
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For information with respect to the underlying securities held by INDEXPLUS Trust Series 2003-1, please refer to respective periodic reports, including annual reports on Form 10-K, quarterly reports on Form 10-Q and current reports on Form 8-K, and other information of: The Boeing Company (Commission file number 001-00442); Citigroup Inc. (Commission file number 001-09924); Credit Suisse Group AG (Commission file number 001-33434)(condensed consolidated financial statements with respect to guarantor Credit Suisse Group AG and issuer Credit Suisse (USA) of the underlying securities) ; Ford Motor Company (Commission file number 001-03950); Ally Financial Inc. (Commission file number 001-03754); General Motors Acceptance Corporation (Commission file number 001-06461); The Goldman Sachs Group, Inc. (Commission file number 001-14965); Johnson & Johnson (Commission file number 001-03215); Macy’s Retail Holdings Inc. (formerly known as the May Department Stores Company)(Commission file number 333-42940); Macy’s, Inc. (Commission file number 001-13536); Time Warner Inc. (Commission file number 001-15062); Time Warner Companies, Inc. (Commission file number 001-08637); Turner Broadcasting System, Inc. (Commission file number 001-08911); United States Department of Treasury; Valero Energy Corporation (Commission file number 001-13175); Verizon Communications Inc. (Commission file number 001-08606); CBS Corporation (Commission file number 001-09553); and Weyerhaeuser Company (Commission file number 001-04825) on file with the Securities and Exchange Commission ( the “SEC”). You can read and copy these reports and other information at the public reference facilities maintained by the SEC at Room 1580, 100 F Street, N.E., Washington, D.C. 20549. You may obtain copies of this material for a fee by writing to the SEC’s Public Reference Section of the SEC at 100 F Street, N.E., Washington, D.C. 20549. You may obtain information about the operation of the Public Reference Room by calling the SEC at 1-800-SEC-0330. You can also access some of this information electronically by means of the SEC’s website on the Internet at http://www.sec.gov, which contains reports, proxy and information statements and other information that the respective underlying securities issuers have filed electronically with the SEC. The underlying securities issuer DaimlerChrysler North America Holding Corp. (now known as Daimler Finance North America LLC) and the guarantor, Daimler AG, no longer file periodic Exchange Act reports. Unless and until the underlying securities comprise 10% of the assets held by the trust, the trust is not required to liquidate its holdings of the asset. If such circumstances were to occur, such as an increase in concentration of DaimlerChrysler assets to at least 10% of total trust assets, the asset would have to be liquidated.

Although we have no reason to believe the information concerning the underlying securities or the underlying securities issuers contained in the underlying securities issuers’ Exchange Act reports is not reliable, neither the depositor nor the trustee participated in the preparation of such documents or made any due diligence inquiry with respect to the information provided therein. No investigation with respect to the underlying securities issuers (including, without limitation, no investigation as to their financial condition or creditworthiness) or of the underlying securities has been made. You should obtain and evaluate the same information concerning the respective underlying securities issuers as you would obtain and evaluate if you were investing directly in the respective underlying securities or in other securities issued by the respective underlying securities issuers. There can be no assurance that events affecting the respective underlying securities or the respective underlying securities issuers have not occurred or have not yet been publicly disclosed which would affect the accuracy or completeness of the publicly available documents described above.

Section 9.	Financial Statements and Exhibits
Item 9.01	Financial Statements and Exhibits
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(a)	Financial statements of business acquired.
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Not applicable.

(b)	Pro forma financial information.

Not applicable.

(c)	Shell company transactions.

Not applicable

(d)	Exhibits.
99.1	Trustee’s report in respect of the December 21, 2020 distribution to holders of the INDEXPLUS Trust Certificates Series<br>2003-1.
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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, hereunto duly authorized.

		MERRILL LYNCH DEPOSITOR, INC.
Date: December 22, 2020	By:	/s/ Matthew Nelson
		Name:	Matthew Nelson
		Title:	President

EXHIBIT INDEX

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99.1	Trustee’s report in respect of the December 21, 2020 distribution to holders of the INDEXPLUS Trust Certificates Series 2003-1.

EXHIBIT 99.1

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DISTRIBUTION REPORT

FOR

INDEXPLUS TRUST SERIES 2003-1

DISTRIBUTION DATE

December 21, 2020

CUSIP NUMBER 45408V203

(i)	the amounts received by the Trustee as of the last such statement in respect of principal, interest and premium on the “Underlying<br>Securities” (see following chart):
Interest:	$1,134,712.50
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Principal:	0.00
Premium:	0.00
(ii)	the amounts of compensation received by the Trustee for the period relating to such Distribution Date:
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Paid by the Trust:	$0.00
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Paid by the Depositor:	$0.00
(iii)	the amount of distribution on such Distribution Date to Holders allocable to principal of and premium, if any, and interest<br>on the Certificates and the amount of aggregate unpaid interest accrued as of such Distribution Date:
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Interest:	$1,134,712.50
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Principal:	$0.00
Unpaid Interest Accrued:	$0.00

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(iv)	see the following chart for the aggregate stated principal amount of the Underlying Securities related to such Series, the<br>current interest rate or rates thereon at the close of business on such Distribution Date and the current rating assigned to the<br>Certificates.
(v)	the aggregate Certificate Principal Balance of such Series at the close of business on such Distribution Date.
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(25 Stated Amount)
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Initial Principal Balance:
Reduction:
Principal Balance 12/21/20:

All values are in US Dollars.

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Amounts Received Per Issuer:

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	Interest
Issuer	Collected
The Boeing Company	$67,773.13
Citigroup Inc.	$65,006.88
Credit Suisse Group AG.	$78,838.13
Daimler Finance North America LLC	$94,052.50
Ford Motor Company	$82,434.25
General Electric Capital Corporation	$74,688.75
Ally Financial Inc.	$88,520.00
The Goldman Sachs Group, Inc.	$67,773.13
Johnson & Johnson	$54,771.75
Macy’s Retail Holdings, Inc.	$76,348.50
Time Warner Companies, Inc.	$73,305.63
Valero Energy Corporation	$82,987.50
Verizon Communications Inc.	$85,753.75
CBS Corporation	$60,857.50
Weyerhaeuser Company	$81,604.38
	$1,134,712.50

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Principal Amounts, Rates & Current Ratings:

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Issuer		CUSIP	Moody's	S&P
The Boeing Company	2,213,000	097-023-AU9	Baa2	BBB-
Citigroup Inc.	2,213,000	172-967-BU4	Baa2	BBB
Credit Suisse Group AG	2,213,000	225-41L-AE3	AA3	A+
Daimler Finance North America LLC	2,213,000	233-835-AQ0	A3	BBB+
Ford Motor Company	2,213,000	345-370-CA6	BA2	BB+
General Electric Capital Corporation	2,213,000	369-62G-XZ2	Baa1	BBB+
Ally Financial Inc	2,213,000	370-425-RZ5	Ba1	BBB-
The Goldman Sachs Group, Inc.	2,213,000	381-41G-CU6	A3	BBB+
Johnson & Johnson	2,213,000	478-160-AL8	Aaa	AAA
Macy’s Retail Holdings, Inc.	2,213,000	577-778-BQ5	B1	B
Time Warner Companies, Inc.	2,213,000	887-315-BN8	WR	BBB
Valero Energy Corporation	2,213,000	919-13Y-AE0	Baa2	BBB
Verizon Communications Inc.	2,213,000	923-44G-AS5	Baa1	BBB+
CBS Corporation	2,213,000	925-524-AV2	Baa2	BBB
Weyerhaeuser Company	2,213,000	962-166-BR4	Baa2	BBB
United States Department of Treasury	4,305,000	912-803-CH4
	37,500,000

All values are in US Dollars.

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