UNITED STATES
 SECURITIES AND EXCHANGE COMMISSION
 WASHINGTON, D.C. 20549










FORM 10-K


(Mark One)




x
ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934




For the fiscal year ended December 31, 2010




or




o
TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934




For the transition period from ________ to ________




Commission File Numbers: 333-111858-03, 001-32235




Synthetic Fixed-Income Securities, Inc.




on behalf of:




STRATSSM Trust For Goldman Sachs Group Securities, Series 2004-8







(Exact name of registrant as specified in its charter)




Delaware
52-2316339(State or other jurisdiction of incorporation

or organization)
(I.R.S. Employer Identification No.)301 South College, Charlotte, North Carolina
28288(Address of principal executive offices)
(Zip Code)


Registrant’s telephone number, including area code: (212) 214-6282




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




Title of each class
Name of Registered exchange on which registeredSTRATSSM  Certificates, Series 2004-8
New York Stock Exchange (“NYSE”)












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 o  No x
  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 o  No x
  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 x  No o
  Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files).
  Yes x  No o
 
 Indicate by check mark if disclosure of delinquent filers pursuant to Item 405 of Regulation S-K 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.
  Not applicable.
  Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer or a smaller reporting company.  See the definitions of “large accelerated filer,” “accelerated filer” and “smaller reporting company”  in Rule 12b 2 of the Exchange Act. (check one):
  Large accelerated filer  o
Accelerated filer oNon- accelerated filer x
Smaler Reporting Company o
 Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act).
  Yes o  No x
  State the aggregate market value of the voting and non-voting common equity  held by non-affiliates computed by reference to the price at which the common equity was last sold, or the average bid and asked price of such common equity, as of the last business day of the registrant’s most recently completed second fiscal quarter:
  The registrant has no voting stock or class of common stock that is held by non-affiliates.
  DOCUMENTS INCORPORATED BY REFERENCE
  The following documents are incorporated by reference into Part IV of this Annual Report: The distribution reports to security holders filed on Form 8-K during the fiscal year, in lieu of reports on Form 10-Q, which include the reports filed on Form 8-K listed in Item 15(a) hereto.
  Introductory Note
  Synthetic Fixed-Income Securities, Inc. (the “Depositor”) is the Depositor in respect of the STRATS(SM) Trust For Goldman Sachs Group Securities, Series 2004-8 (the “Trust”), a common law trust formed pursuant to the Base Trust Agreement, dated as of September 26, 2003, between the Depositor and U.S. Bank Trust National Association,
  2
  as trustee (the “Trustee”), as supplemented by the STRATS(SM) Certificates Series Supplement 2004-8 (the “Series Supplement”) dated as of June 29, 2004 in respect of the Trust. The Trust’s assets consist solely of notes issued by The Goldman Sachs Group, Inc. The Certificates do not represent obligations of or interests in the Depositor or the Trustee.
  Pursuant to staff administrative positions established in Corporate Asset Backed Corporation (available August 9, 1995), the Trust is not required to respond to various items of Form 10-K. Such items are designated herein as “Not Applicable.” Distribution reports detailing receipts and distributions by the Trust are filed after each distribution date on Form 8-K in lieu of reports on Form 10-Q.
  The Goldman Sachs Group, Inc., the issuer of the underlying securities, is subject to the information reporting requirements of the Securities Exchange Act of 1934, as amended, (the “Exchange Act”). For information on The Goldman Sachs Group, Inc. please see its periodic and current reports filed with the Securities and Exchange Commission (the “Commission”) under its Exchange Act file number, 001-14965. The Commission maintains a site on the World Wide Web at “http://www.sec.gov” at which users can view and download copies of reports, proxy and information statements and other information filed electronically through the Electronic Data Gathering, Analysis and Retrieval system, or “EDGAR.” Periodic and current reports and other information required to be filed pursuant to the Exchange Act by The Goldman Sachs Group, Inc. may be accessed on this site. Neither Synthetic Fixed-Income Securities, Inc. nor the Trustee has participated in the preparation of such reporting documents, or made any due diligence investigation with respect to the information provided therein. Neither Synthetic Fixed-Income Securities, Inc. nor the Trustee has verified the accuracy or completeness of such documents or
 reports. There can be no assurance that events affecting the issuer of the underlying securities, or the underlying securities themselves, have not occurred or have not yet been publicly disclosed which would affect the accuracy or completeness of the publicly available documents described above.
   PART I
  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.
  None
  Item 4. [Removed and Reserved.]
  Not Applicable
  3
  PART II
  Item 5. Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities.
  The Certificates representing investors’ interest in 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 Certificates are listed on the NYSE.
  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.
  Not Applicable
  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
   PART III
  Item 10. Directors, Executive Officers and Corporate Governance.
  Not Applicable
  Item 11. Executive Compensation.
  Not Applicable
  Item 12. Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters.
  Not Applicable
  Item 13. Certain Relationships and Related Transactions, and Director Independence.
  None
 4
   Item 14. Principal Accounting Fees and Services.
  Not Applicable
   PART IV
  Item 15. Exhibits, Financial Statement Schedules.
  (a)           The following documents have been filed as part of this report.
  1.
Trustee’s Distribution Statements documented on Form 8-K of STRATSSM  Trust For Goldman Sachs Group Securities, Series 2004-8 to the certificateholders for the period from January 1, 2010 through and including December 31, 2010 have been filed with the Securities and Exchange Commission and are hereby incorporated by reference. Filing dates are listed below:
  Trust Description
Distribution Date
Filed onSTRATSSMTrust For Goldman Sachs Group Securities, Series 2004-8
01-15-2010

02-16-2010

03-15-2010

04-15-2010

05-17-2010

04-15-2010

06-15-2010

07-15-2010

08-16-2010

09-15-2010

10-15-2010

11-15-2010

12-15-2010
01-28-2010

02-24-2010

03-24-2010

04-21-2010

05-26-2010

06-02-2010

06-29-2010

07-30-2010

08-30-2010

09-30-2010

10-28-2010

11-30-2010

12-30-2010


2.
None
  3.
Exhibits:
  31.1 – Certification by Director 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 pursuant to 15 U.S.C. Section 7241, as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.
  99.2 – Report of Aston Bell, CPA.
  99.3 - Registrant’s Current Report on Form 8-K filed with the Securities and Exchange Commission on January 28, 2010, as further described in Item 15(a)(1) above, is incorporated herein by reference.
  99.4 - Registrant’s Current Report on Form 8-K filed with the Securities and Exchange Commission on February 24, 2010, as further described in Item 15(a)(1) above, is incorporated herein by reference.
  99.5 - Registrant’s Current Report on Form 8-K filed with the Securities and Exchange Commission on March 24, 2010, as further described in Item 15(a)(1) above, is incorporated herein by reference.
 
 5
  99.6 - Registrant’s Current Report on Form 8-K filed with the Securities and Exchange Commission on April 21, 2010, as further described in Item 15(a)(1) above, is incorporated herein by reference.
  99.7 - Registrant’s Current Report on Form 8-K filed with the Securities and Exchange Commission on May 26, 2010, as further described in Item 15(a)(1) above, is incorporated herein by reference.
  99.8 - Registrant’s Current Report on Form 8-K filed with the Securities and Exchange Commission on June 2, 2010, as further described in Item 15(a)(1) above, is incorporated herein by reference.
  99.9 - Registrant’s Current Report on Form 8-K filed with the Securities and Exchange Commission on June 29, 2010, as further described in Item 15(a)(1) above, is incorporated herein by reference.
  99.10 - Registrant’s Current Report on Form 8-K filed with the Securities and Exchange Commission on July 30, 2010, as further described in Item 15(a)(1) above, is incorporated herein by reference.
  99.11 - Registrant’s Current Report on Form 8-K filed with the Securities and Exchange Commission on August 30, 2010, as further described in Item 15(a)(1) above, is incorporated herein by reference.
  99.12 - Registrant’s Current Report on Form 8-K filed with the Securities and Exchange Commission on September 30, 2010, as further described in Item 15(a)(1) above, is incorporated herein by reference.
  99.13 - Registrant’s Current Report on Form 8-K filed with the Securities and Exchange Commission on October 28, 2010, as further described in Item 15(a)(1) above, is incorporated herein by reference.
  99.14 - Registrant’s Current Report on Form 8-K filed with the Securities and Exchange Commission on November 30, 2010, as further described in Item 15(a)(1) above, is incorporated herein by reference.
  99.15 - Registrant’s Current Report on Form 8-K filed with the Securities and Exchange Commission on December 30, 2010, as further described in Item 15(a)(1) above, is incorporated herein by reference.
  (b)           See Item 15(a) above.
  (c)           Not Applicable.
 
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  SIGNATURE
  Pursuant to the requirements of Section 13 or 15 (d) the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
  Synthetic Fixed-Income Securities, Inc.as Depositor for the TrustBy:
/s/ William ThreadgillName:
William ThreadgillTitle:
President
  Dated:  March 30, 2011
  
  7
 EXHIBIT INDEX
  Reference Number per Item 601 of Regulation SK
Description of Exhibits
Exhibit Number in this Form 10-K(31.1)
Certification by Director of the Registrant pursuant to 15 U.S.C. Section 7241, as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.
31.1(99.1)
Annual Compliance Report by Trustee pursuant to 15 U.S.C. Section 7241, as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.
99.1(99.2)
Report of Aston Bell, CPA.
99.2(99.3)
Registrant’s Current Report on Form 8-K filed with the Securities and Exchange Commission on January 28, 2010, as further described in Item 15(a)(1) above, is incorporated herein by reference.
99.3(99.4)
Registrant’s Current Report on Form 8-K filed with the Securities and Exchange Commission on February 24, 2010, as further described in Item 15(a)(1) above, is incorporated herein by reference.
99.4(99.5)
Registrant’s Current Report on Form 8-K filed with the Securities and Exchange Commission on March 24, 2010, as further described in Item 15(a)(1) above, is incorporated herein by reference.
99.5(99.6)
Registrant’s Current Report on Form 8-K filed with the Securities and Exchange Commission on April 21, 2010, as further described in Item 15(a)(1) above, is incorporated herein by reference.
99.6(99.7)
Registrant’s Current Report on Form 8-K filed with the Securities and Exchange Commission on May 26, 2010, as further described in Item 15(a)(1) above, is incorporated herein by reference.
99.7(99.8)
Registrant’s Current Report on Form 8-K filed with the Securities and Exchange Commission on June 2, 2010, as further described in Item 15(a)(1) above, is incorporated herein by reference.
99.8(99.9)
Registrant’s Current Report on Form 8-K filed with the Securities and Exchange Commission on June 29, 2010, as further described in Item 15(a)(1) above, is incorporated herein by reference.
99.9(99.10)
Registrant’s Current Report on Form 8-K filed
99.10     8
  (99.11)
with the Securities and Exchange Commission on August 30, 2010, as further described in Item 15(a)(1) above, is incorporated herein by reference.
99.11(99.12)
Registrant’s Current Report on Form 8-K filed with the Securities and Exchange Commission on September 30, 2010, as further described in Item 15(a)(1) above, is incorporated herein by reference.
99.12(99.13)
Registrant’s Current Report on Form 8-K filed with the Securities and Exchange Commission on October 28, 2010, as further described in Item 15(a)(1) above, is incorporated herein by reference.
99.13(99.14)
Registrant’s Current Report on Form 8-K filed with the Securities and Exchange Commission on November 30, 2010, as further described in Item 15(a)(1) above, is incorporated herein by reference.
99.14(99.15)
Registrant’s Current Report on Form 8-K filed with the Securities and Exchange Commission on December 30, 2010, as further described in Item 15(a)(1) above, is incorporated herein by reference.
99.15