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: 333-111858-05, 001-32281

                    Synthetic Fixed-Income Securities, Inc.

                                 on behalf of:

  STRATS(SM) Trust For DaimlerChrysler NA Holding Securities, Series 2004-10
            ------------------------------------------------------
            (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
--------------------------------------------------------------------------------
   (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 2004-10


<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:

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 DaimlerChrysler NA Holding Securities,
Series 2004-10 (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 2004-10 (the
"Series Supplement") dated as of August 6, 2004 in respect of the Trust. The
Trust's assets consist solely of notes issued by DaimlerChrysler North America
Holding Corporation. 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>


Daimler AG, the guarantor of the underlying securities, is subject to the
information reporting requirements of the Securities Exchange Act of 1934, as
amended, (the "Exchange Act") (the issuer of the underlying securities is
Daimler Finance North America LLC as successor issuer and in substitution
under the underlying securities indenture for DaimlerChrysler North America
Holding Corporation). For information on Daimler AG please see its periodic
and current reports filed with the Securities and Exchange Commission (the
"Commission") under its Exchange Act file number, 001-14561. 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 Daimler
AG 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 guarantor 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.  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.


                                      3
<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


                                      4
<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 DaimlerChrysler NA
                         Holding Securities, Series 2004-10 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:

--------------------------------------------------------------------------------
                                                   Distribution
Trust Description                                          Date        Filed on
--------------------------------------------------------------------------------
STRATS(SM) Trust For DaimlerChrysler NA Holding      01-16-2007      01-29-2007
Securities, Series 2004-10                           02-15-2007      02-23-2007
                                                     03-15-2007      03-29-2007
                                                     04-16-2007      04-20-2007
                                                     05-15-2007      05-25-2007
                                                     06-15-2007      06-21-2007
                                                     07-15-2007      07-20-2007
                                                     08-15-2007      08-23-2007
                                                     09-17-2007      09-25-2007
                                                     10-15-2007      10-19-2007
                                                     11-15-2007      11-21-2007
                                                     12-17-2007      12-28-2007
--------------------------------------------------------------------------------

                  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 29, 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 23, 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
                         29, 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
                         20, 2007, 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


                                      5
<PAGE>


                         Commission on May 25, 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
                         21, 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
                         20, 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
                         23, 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 25, 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 19, 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 21, 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 28, 2007, as further described in Item
                         15(a)(1) above, is incorporated herein by reference.

          (b)     See Item 15(a) above.

          (c)     Not Applicable.


                                      6
<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>


<TABLE>
<CAPTION>

                                 EXHIBIT INDEX

------------------- ---------------------------------------------------- ----------------
Reference
Number per                                                                       Exhibit
Item 601 of                                                               Number in this
Regulation SK       Description of Exhibits                                    Form 10-K
------------------- ---------------------------------------------------- ----------------
<S>                 <C>                                                             <C>
(31.1)              Certification by Director of the Registrant                     31.1
                    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              99.1
                    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.                                      99.2
------------------- ---------------------------------------------------- ----------------
(99.3)              Registrant's Current Report on Form 8-K filed with              99.3
                    the Securities and Exchange Commission on January
                    29, 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              99.4
                    the Securities and Exchange Commission on February
                    23, 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              99.5
                    the Securities and Exchange Commission on March
                    29, 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              99.6
                    the Securities and Exchange Commission on April
                    20, 2007, 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              99.7
                    the Securities and Exchange Commission on May 25,
                    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              99.8
                    the Securities and Exchange Commission on June 21,
                    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              99.9
                    the Securities and Exchange Commission on July 20,
                    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                  99.10
------------------- ---------------------------------------------------- ----------------


                                      8
<PAGE>


------------------- ---------------------------------------------------- ----------------
                    with the Securities and Exchange Commission on August
                    23, 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             99.11
                    the Securities and Exchange Commission on
                    September 25, 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             99.12
                    the Securities and Exchange Commission on October
                    19, 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             99.13
                    the Securities and Exchange Commission on November
                    21, 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             99.14
                    the Securities and Exchange Commission on December
                    28, 2007, as further described in Item 15(a)(1)
                    above, is incorporated herein by reference.
------------------- ---------------------------------------------------- ----------------
</TABLE>


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