----

| ý | ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES AND EXCHANGE ACT OF 1934 |
|--------|------------------------------------------------------------------------------------------|

| ☐ | TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES AND EXCHANGE ACT OF 1934 |
|---------|----------------------------------------------------------------------------------------------|

| Delaware                                  | 13-3692801                      |
|------------------------------------------------|--------------------------------------|
| (State or other jurisdiction of incorporation) | (I.R.S. employer identification no.) |
|                                           |                                 |
|                                           |                                 |
| 270 Park Avenue, New York, New York       | 10013                           |
| (Address of principal executive offices)       | (Zip Code)                           |
|                                           |                                 |
| Title of Each Class                                      |   | Name of Each Exchange on Which Registered |
|----------------------------------------------------------|--------|-------------------------------------------|
|                                                     |   |                                      |
| Select Notes Trust Long Term Certificates, Series 2003-1 |   | American Stock Exchange                   |
| Securities registered pursuant to Section 12(g) of the Act:  None                                                       |
|------------------------------------------------------------------------------------------------------------------------------|
|                                                                                                                         |   |   |
| Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act.      |
|                                                                                                                         |
|                                                                                                                         | Yes | ☐ |   | No | ý |   |
|                                                                                                                         |
| Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. |
|                                                                                                                         |
|                                                                                                                         | Yes | ☐ |   | No | ý |   |

----

| Indicate by check mark whether the registrant: (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.                                            |
|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|                                                                                                                                                                                                                                                                                                                                                                                                 |
|                                                                                                                                                                                                                                                                                                                                                                                                 | Yes | ý1 |   | No | ☐ |   |
|                                                                                                                                                                                                                                                                                                                                                                                                 |
| Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Website, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files).                                           |
|                                                                                                                                                                                                                                                                                                                                                                                                 |
|                                                                                                                                                                                                                                                                                                                                                                                                 | Yes | ý | No | ☐ |
|                                                                                                                                                                                                                                                                                                                                                                                                 | [Rule 405 of Regulation S-T is not applicable.] |
|                                                                                                                                                                                                                                                                                                                                                                                                 |
| Indicate by check mark if disclosure of delinquent filers pursuant to Item 405 of Regulation S‐K (§229.405 of this chapter) is not contained herein, and will not be contained, to the best of registrant's knowledge, in definitive proxy or information statements incorporated by reference in Part III of this Form 10‐K or any amendment to this Form 10‐K.  ý |
|                                                                                                                                                                                                                                                                                                                                                                                                 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                 | [Item 405 of Regulation S-K is not applicable.] |
|                                                                                                                                                                                                                                                                                                                                                                                                 |
| Indicate by check mark whether the registrant is large accelerated filer, an accelerated filer, a non-accelerated filer or a smaller reporting company. See the definition of "accelerated filer, large accelerated filer and smaller reporting company" in Rule 12b‐2 of the Exchange Act. (check one):                                                                                       |
|                                                                                                                                                                                                                                                                                                                                                                                                 |
| Large accelerated filer  ☐                                                                                                                                                                                                                                                                                                                                                                | Accelerated filer  ☐ | Non-accelerated filer  ý | Smaller reporting company  ☐ |
|                                                                                                                                                                                                                                                                                                                                                                                                 |
| Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act).                                                                                                                                                                                                                                                                                              |
|                                                                                                                                                                                                                                                                                                                                                                                                 | Yes | ☐ |   | No | ý |   |

----

----

|   | Underlying Securities Issuer or Guarantor, orSuccessor thereto                                                           | Commission File Number |   |
|--------|--------------------------------------------------------------------------------------------------------------------------|------------------------|--------|
|   | Carnival Corporation                                                                                                     | 001-09610              |   |
|   | Merck &Co., Inc.                                                                                                     | 001-06571              |   |
|   | HP Inc.                                                                                                                  | 001-4423               |   |
|   | Spectra Energy Corp (guarantor of the underlying securities issued by Duke Capital LLC)                                  | 001-33007              |   |
|   | General Electric Company (guarantor/obligor of the underlying securities issued by General Electric Capital Corporation) | 001-00035              |   |
|   | Target Corporation                                                                                                       | 001-06049              |   |
|   | International Business Machines Corporation                                                                              | 001-02360              |   |
|   | Citigroup Inc.                                                                                                           | 001-09924              |   |

----

| Item 1.  | Business                           |
|----------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|     | Not Applicable                                                                                                                                                       |
|     |                                                                                                                                                                 |
| Item 1A. | Risk Factors                                                                                                                                                         |
|     | Not Applicable                                                                                                                                                       |
|     |                                                                                                                                                                 |
| Item 1B. | Unresolved Staff Comments                                                                                                                                            |
|     | Not Applicable                                                                                                                                                       |
|     |                                                                                                                                                                 |
| Item 2.  | Properties                                                                                                                                                           |
|     | Not Applicable                                                                                                                                                       |
|     |                                                                                                                                                                 |
| Item 3.  | Legal Proceedings                                                                                                                                                    |
|     | The Registrant is not subject to any material pending legal proceedings.                                                                                             |
|     |                                                                                                                                                                 |
| Item 4.  | Mine Safety Disclosures                                                                                                                                              |
|     | None                                                                                                                                                                 |
| Item 5.                                                                 | Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities                                                                                                                                                   |
|-------------------------------------------------------------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|                                                                    | The Certificates issued by and representing investors' interest in the Select Notes Trust LT 2003-1 (the "Trust") are represented by one or more physical Certificates registered in the name of "Cede & Co., the nominee of The Depository Trust Company. |
|                                                                    |                                                                                                                                                                                                                                                           |
| The following Certificates are listed on the exchange identified below: |
| Title of Each Class                                 | Name of Each Exchange on Which Registered |
|----------------------------------------------------------|-------------------------------------------|
| Select Notes Trust Long Term Certificates, Series 2003-1 | American Stock Exchange                   |
|     |                                                                                  |
|----------|---------------------------------------------------------------------------------------|
| Item 6.  | Selected Financial Data                                                               |
|     | Not Applicable                                                                        |
|     |                                                                                  |
| Item 7.  | Management's Discussion and Analysis of Financial Condition and Results of Operations |
|     | Not Applicable                                                                        |
|     |                                                                                  |
| Item 7A. | Quantitative and Qualitative Disclosures About Market Risk                            |
|     | Not Applicable                                                                        |

----

| Item 8.  | Financial Statements and Supplementary Data                                          |
|----------|--------------------------------------------------------------------------------------|
|     | None                                                                                 |
|     |                                                                                 |
| Item 9.  | Changes In and Disagreements With Accountants on Accounting and Financial Disclosure |
|     | None                                                                                 |
|     |                                                                                 |
| Item 9A. | Controls and Procedures.                                                             |
|     | Not Applicable                                                                       |
|     |                                                                                 |
| Item 9B. | Other Information.                                                                   |
|     | None.                                                                                |
| Item 10. | Directors, Executive Officers and Corporate Governance                                         |
|----------|------------------------------------------------------------------------------------------------|
|     | None.                                                                                          |
|     |                                                                                           |
| Item 11. | Executive Compensation                                                                         |
|     | Not Applicable                                                                                 |
|     |                                                                                           |
| Item 12. | Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters |
|     | Information required by Item 201(d) of Regulation S-X:  Not Applicable                    |
|     | Information required by Item 403 of Regulation S-X:  None                                 |
|     |                                                                                           |
| Item 13. | Certain Relationships and Related Transactions, and Director Independence                      |
|     | None.                                                                                          |
|     |                                                                                           |
| Item 14. | Principal Accounting Fees and Services                                                         |
|     | Not Applicable                                                                                 |
| Item 15. | Exhibits, Financial Statement Schedules |
|----------|-----------------------------------------|
|     |                                    |
|   | 1.  None                                                                                                                                                           |
|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|   |                                                                                                                                                                    |
|   | 2.  None                                                                                                                                                           |
|   |                                                                                                                                                                    |
|   | 3.  Exhibits:                                                                                                                                                      |
|   |                                                                                                                                                                    |
|   | 31.1 – Certification by the President of the Registrant pursuant to 15 U.S.C. Section 7241, as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002. |
|   | 99.1 – Annual Compliance Report by Trustee.                                                                                                                       |
|   | 99.2 – Report of RubinBrown LLP                                                                                                                                   |

----

----

|                                                                  | STRUCTURED OBLIGATIONS CORPORATION,                                    |
|-----------------------------------------------------------------------|------------------------------------------------------------------------|
|                                                                  | as trustor for the Trust Registrant                                    |
|                                                                  |                                                                   |
|                                                                  |                                                                   |
|                                                                  |                                                                   |
|                                                                  | By:                                                                    |  /s/ Chadwick S. Parson |
|                                                                  | Name:                                                                  | Chadwick S. Parson |
|                                                                  | Title:                                                                 | Managing Director and President |
|                                                                  | (senior officer in charge of securitization function of the Depositor) |
|                                                                  |                                                                   |
|                                                                  |                                                                   |
| Dated:  March  30, 2017       |                                                                   |

----