SECURITIES AND EXCHANGE COMMISSION 
  WASHINGTON, D.C. 20549

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FORM 8-K

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CURRENT REPORTPURSUANT TO SECTION 13 OR 15 (d) OF THE
  SECURITIES EXCHANGE ACT OF 1934

Date of report (Date of earliest event reported): February 15, 2006

|MS Structured Asset Corp.                         
|--------------------------------------------------
|                                                  
|(Exact Name of Registrant as Specified in Charter)

|Delaware                                        | 333-64879                 | 13-4026700                        
|----------------------------------------------- | ------------------------- | ----------------------------------
|                                               
|(State or Other Jurisdiction  of Incorporation) | (Commission File  Number) | (IRS Employer  Identification No.)

|1585 Broadway, Second Floor  New York, New York  Attention: Madhu Philips | 10036     
|------------------------------------------------------------------------- | ----------
|                                                                         
|(Address of Principal Executive Offices)                                  | (Zip Code)

Registrants telephone number, including area code: 212-761-2520

|Not Applicable                                               
|-------------------------------------------------------------
|                                                             
|(Former Name or Former Address, if Changed Since Last Report)





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|Section 9 | Financial Statements and Exhibits
|--------- | ---------------------------------



|Item 9.01 |  | Financial Statements and Exhibits
|--------- |  | ---------------------------------

| | Exhibit4.1  | Trust Agreement                                                               
| | ----------- | ------------------------------------------------------------------------------
| |             |                                                                               
| | Exhibit 5.1 | Validity Opinion of Cleary Gottlieb Steen & Hamilton LLP                      
| |             |                                                                               
| | Exhibit23.1 | Consent of Cleary Gottlieb Steen & Hamilton LLP (included in      Exhibit 5.1)



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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 hereto duly authorized.

|Date: February 21, 2006
|-----------------------

| | MS STRUCTURED ASSET CORP.(Registrant)                        
| | -------------------------------------------------------------
| | By:/s/ John Kehoe
      Name: John KehoeTitle: Vice President

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EXHIBIT INDEX

|        |      |                                                                          
|------- | ---- | -------------------------------------------------------------------------
|Exhibit | 4.1  | Trust Agreement                                                          
|        |      |                                                                          
|Exhibit | 5.1  | Validity Opinion of Cleary Gottlieb Steen & Hamilton LLP                 
|        |      |                                                                          
|Exhibit | 23.1 | Consent of Cleary Gottlieb Steen & Hamilton LLP (included in Exhibit 5.1)

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