MS STRUCTURED TILES SERIES 2006-1 10-K

Exhibit 31.2









Global
                                 Corporate Trust 
190 S. LaSalle Street, 7th Floor 
MK-IL-SL7C 
Chicago, IL 60603

usbank.com



ABS ANNUAL REPORT BACKUP CERTIFICATION

Reference is made to the Trust
Agreement, between MS Structured Asset Corp., as Depositor and U.S. Bank National Association, as Trustee, as successor-in-interest to
Bank of America, National Association, as Trustee, as successor by merger to LaSalle Bank National Association, as Trustee, for TILES
Trust No. 2006-1, dated February 15, 2006, together with Schedules I, II and III attached thereto, and the Standard Terms for Trust Agreements,
between MS Structured Asset Corp., as Depositor and U.S. Bank National Association, as Trustee, as successor-in-interest to Bank of America,
National Association, as Trustee, as successor by merger to LaSalle Bank National Association, as Trustee dated March 5, 2003.
Capitalized terms used herein and not defined shall have the meanings defined in the Trust Agreement and the Standard Terms for Trust
Agreements.

In connection with the
preparation and delivery of the annual report on Form 10-K of MS Structured Asset Corp. on behalf of TILES Trust No. 2006-1 for the fiscal
year ending December 31, 2022 (“Fiscal Year”) and the certifications given by Joshua Schanzer with respect thereto, the undersigned
hereby certifies that she is a duly elected Senior Vice President of U.S. Bank National Association (the “Trustee”) and further
certifies in her capacity as such as follows:

| | 1. | U.S. Bank National Association has prepared
                                            all reports to Unitholders with respect to each distribution date for TILES Trust No. 2006-1
                                            and, if permitted under the applicable rules and regulations of the Securities Exchange Commission
                                            and the procedures with respect thereto that have been mutually agreed upon by MS Structured
                                            Asset Corp. and U.S. Bank National Association, has filed a copy of such reports on Form
                                            10-D for the months listed on Exhibit A hereto;
| | -- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

| | 2. | I (or officers under my supervision)
                                            have reviewed the reports on Form 10-D containing the reports to Unitholders included on
                                            Exhibit A filed in respect of periods included in the Fiscal Year covered by the annual report
                                            of MS Structured Asset Corp. on behalf of TILES Trust No. 2006-1;
| | -- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

| | 3. | I am familiar with the operations of
                                            U.S. Bank National Association with respect to the TILES Trust No. 2006-1 and the requirements
                                            imposed by the Trust Agreement;
| | -- | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

| | 4. | Based on my knowledge, the information
                                            in the reports to Unitholders, taken as a whole, does not contain any untrue statement of
                                            a material fact or omit to state a material fact necessary to make the statements made, in
                                            light of the circumstances under which such statements were made, not misleading as
                                            of the date that the distribution information was filed on Form 10-D;
| | -- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

| | 5. | Based on my knowledge, the information
                                            required to be provided under the Trust Agreement, for inclusion in the reports
                                            to Unitholders, is included in the reports to
                                            Unitholders;
| | -- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

| | 6. | Based on my knowledge, and except
                                            as disclosed in the reports to Unitholders, the
                                            Trustee has fulfilled its obligations under the Trust Agreement in all material respects;
| | -- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



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| | 7. | Based on my knowledge, and except
                                            as disclosed in the reports to Unitholders, there are no material legal proceedings with respect to the trust, involving the trust or
U.S. Bank National Association as Trustee.
| | -- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------





U.S. Bank National Association as successor-in-interest to
Bank of America, National Association as successor by merger to LaSalle Bank National Association, as Trustee



By: /s/ Kimberly
O. Jacobs

Name:	Kimberly
O. Jacobs

Title:	Senior Vice President

Date: March 2, 2023



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Exhibit A



|TILES
    Trust No.: | Closing
    Date      | Payment
    Dates                          | Form
    10-D Filing Dates               
|-------------------- | --------------------- | ------------------------------------------ | -----------------------------------------
|2006-1               | February
    15, 2006 | February
    15, 2022 
    August 15, 2022 | February 23, 2022
        August 30, 2022





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ANNUAL REPORT BACKUP CERTIFICATION
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