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

                                    FORM 10-K
                        FOR ANNUAL AND TRANSITION REPORTS
                     PURSUANT TO SECTIONS 13 OR 15(d) OF THE
                         SECURITIES EXCHANGE ACT OF 1934

(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, 2007

                                       or

       [ ]   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: 333-111858-14, 001-32611

                     Synthetic Fixed-Income Securities, Inc.

                                  on behalf of:

   STRATS(SM) Trust For JPMorgan Chase Capital XVII Securities, Series 2005-2
      ----------------------------------------------------------------------
             (Exact name of registrant as specified in its charter)

         Delaware                                       52-2316339
--------------------------------------------------------------------------------
(State or other jurisdiction of          (I.R.S. Employer Identification No.)
 incorporation or organization)


301 South College, Charlotte, North Carolina                28288
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  (Address of principal executive offices)                (Zip Code)

Registrant's telephone number, including area code: (704) 383-7727

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

Title of each class              Name of Registered exchange on which registered
-------------------              -----------------------------------------------

STRATS(SM) Certificates,         New York Stock Exchange ("NYSE")
Series 2005-2


<PAGE>

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 [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 [ ]  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 [ ]

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 large accelerated filer, an
accelerated filer or a non-accelerated filer. See the definition of "accelerated
filer and large accelerated filer" in Rule 12b-2 of the Exchange Act. (check
one):
Large accelerated filer [ ]  Accelerated filer  [ ]  Non- accelerated filer [X]

Indicate by check mark whether the registrant is a shell company (as defined in
Rule 12b-2 of the Act).
Yes [ ]  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:
Not Applicable.

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 JPMorgan Chase Capital XVII Securities,
Series 2005-2 (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, as trustee (the "Trustee"), as supplemented by
the STRATS(SM) Certificates Series Supplement 2005-2 (the "Series Supplement")
dated as of August 22, 2005 in respect of the Trust. The Trust's assets consist
solely of notes issued by JPMorgan Chase Capital XVII. 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.

                                       2
<PAGE>


JPMorgan Chase & Co., the guarantor of the junior subordinated debentures, the
sole assets held by JPMorgan Chase Capital XVII, 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 JPMorgan Chase & Co. please see its periodic and current reports
filed with the Securities and Exchange Commission (the "Commission") under its
Exchange Act file number, 001-05805. 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 JPMorgan Chase & Co. 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, the issuer of the
junior subordinated debentures 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. Submission of Matters to a Vote of Security Holders.

        None


                                     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.


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<PAGE>

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 and Executive Officers of the Registrant.

        Not Applicable

Item 11. Executive Compensation.

        Not Applicable

Item 12. Security Ownership of Certain Beneficial Owners and Management and
Related Stock Matters.

        Not Applicable

Item 13. Certain Relationships and Related Transactions.

        None

Item 14. Principal Accounting Fees and Services.

        Not Applicable


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<PAGE>


                                     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 STRATS(SM) Trust For JPMorgan Chase Capital
                   XVII Securities, Series 2005-2 to the
                   certificateholders for the period from January 1,
                   2007 through and including December 31, 2007 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 on
--------------------------------------------------------------------------------
STRATS(SM) Trust For JPMorgan Chase Capital  01-01-2007               01-11-2007
XVII Securities, Series 2005-2               02-01-2007               02-07-2007
                                             03-01-2007               03-08-2007
                                             04-01-2007               04-05-2007
                                             05-01-2007               05-11-2007
                                             06-01-2007               06-14-2007
                                             07-01-2007               07-12-2007
                                             08-01-2007               08-10-2007
                                             09-01-2007               09-13-2007
                                             10-01-2007               10-12-2007
                                             11-01-2007               11-13-2007
                                             12-01-2007               12-07-2007
--------------------------------------------------------------------------------


              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 11, 2007, 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 7, 2007, 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 8, 2007, as
                   further described in Item 15(a)(1) above, is incorporated
                   herein by reference.

                   99.6 - Registrant's Current Report on Form 8-K filed with the
                   Securities and Exchange Commission on April 5, 2007, as
                   further described in Item 15(a)(1) above, is incorporated
                   herein by reference.


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<PAGE>


                   99.7 - Registrant's Current Report on Form 8-K filed with the
                   Securities and Exchange Commission on May 11, 2007, 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 14, 2007, 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 July 12, 2007, 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 August 10, 2007, 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 September 13, 2007,
                   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 October 12, 2007,
                   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 November 13, 2007,
                   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 December 7, 2007,
                   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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<PAGE>


                                    SIGNATURE

         Pursuant to the requirements of Section 13 or 15(d) of 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 Trust




                                       By:   /s/ Jimmy Whang
                                             ----------------------------------
                                       Name:  Jimmy Whang
                                       Title:  Director


Dated:  March 28, 2008



                                       7
<PAGE>


                                  EXHIBIT INDEX

--------------------------------------------------------------------------------
 Reference Number                                                 Exhibit Number
 per Item 601 of              Description of Exhibits                 in this
  Regulation SK                                                      Form 10-K
--------------------------------------------------------------------------------
                   Certification by Director of the Registrant
     (31.1)        pursuant to 15 U.S.C. Section 7241, as adopted        31.1
                   pursuant to Section 302 of the Sarbanes-Oxley Act
                   of 2002.
--------------------------------------------------------------------------------
                   Annual Compliance Report by Trustee pursuant to 15
     (99.1)        U.S.C. Section 7241, as adopted pursuant to           99.1
                   Section 302 of the Sarbanes-Oxley Act of 2002.
--------------------------------------------------------------------------------
     (99.2)        Report of Aston Bell, CPA.                            99.2
--------------------------------------------------------------------------------
                   Registrant's Current Report on Form 8-K filed with    99.3
                   the Securities and Exchange Commission on January
     (99.3)        11, 2007, as further described in Item 15(a)(1)
                   above, is incorporated herein by reference.
--------------------------------------------------------------------------------
                   Registrant's Current Report on Form 8-K filed with
                   the Securities and Exchange Commission on February
     (99.4)        7, 2007, as further described in Item 15(a)(1)        99.4
                   above, is incorporated herein by reference.
--------------------------------------------------------------------------------
                   Registrant's Current Report on Form 8-K filed with
                   the Securities and Exchange Commission on March 8,
     (99.5)        2007, as further described in Item 15(a)(1) above,    99.5
                   is incorporated herein by reference.
--------------------------------------------------------------------------------
                   Registrant's Current Report on Form 8-K filed with
                   the Securities and Exchange Commission on April 5,
     (99.6)        2007, as further described in Item 15(a)(1) above,    99.6
                   is incorporated herein by reference.
--------------------------------------------------------------------------------
                   Registrant's Current Report on Form 8-K filed with
                   the Securities and Exchange Commission on May 11,
     (99.7)        2007, as further described in Item 15(a)(1) above,    99.7
                   is incorporated herein by reference.
--------------------------------------------------------------------------------
                   Registrant's Current Report on Form 8-K filed with
                   the Securities and Exchange Commission on June 14,
     (99.8)        2007, as further described in Item 15(a)(1) above,    99.8
                   is incorporated herein by reference.
--------------------------------------------------------------------------------
                   Registrant's Current Report on Form 8-K filed with
                   the Securities and Exchange Commission on July 12,
     (99.9)        2007, as further described in Item 15(a)(1) above,    99.9
                   is incorporated herein by reference.
--------------------------------------------------------------------------------
     (99.10)       Registrant's Current Report on Form 8-K filed with    99.10
                   the Securities and Exchange Commission on
--------------------------------------------------------------------------------


                                       8
<PAGE>

--------------------------------------------------------------------------------
                   August 10, 2007, as further described in Item 15(a)(1)
                   above, is incorporated herein by reference.
--------------------------------------------------------------------------------
                   Registrant's Current Report on Form 8-K filed with
                   the Securities and Exchange Commission on
     (99.11)       September 13, 2007, as further described in Item      99.11
                   15(a)(1) above, is incorporated herein by
                   reference.
--------------------------------------------------------------------------------
                   Registrant's Current Report on Form 8-K filed with
                   the Securities and Exchange Commission on October
     (99.12)       12, 2007, as further described in Item 15(a)(1)       99.12
                   above, is incorporated herein by reference.
--------------------------------------------------------------------------------
                   Registrant's Current Report on Form 8-K filed with
                   the Securities and Exchange Commission on November
     (99.13)       13, 2007, as further described in Item 15(a)(1)       99.13
                   above, is incorporated herein by reference.
--------------------------------------------------------------------------------
                   Registrant's Current Report on Form 8-K filed with
                   the Securities and Exchange Commission on December
     (99.14)       7, 2007, as further described in Item 15(a)(1)        99.14
                   above, is incorporated herein by reference.
--------------------------------------------------------------------------------


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