----

----

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

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

----

----

| New York                                                       | 20-7474289                           |
|----------------------------------------------------------------|--------------------------------------|
| (State or other jurisdiction of incorporation or organization) | (I.R.S. Employer Identification No.) |

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

| Title of each class                | Name of Registered exchange on which registered |
|------------------------------------|-------------------------------------------------|
|                               |                                            |
| STRATS Certificates, Series 2007-1 | New York Stock Exchange                         |

----

----

| Large accelerated filer ☐ | Accelerated filer ☐ | Non- accelerated filer ☒ | Smaller reporting company ☐ |
|---------------------------------|---------------------------|--------------------------------|-----------------------------------|

----

----

----

| Item 1112(b) of Regulation AB. | Significant Obligors of Pool Assets (Financial Information). |
|--------------------------------|--------------------------------------------------------------|

| Item 1114(b)(2) of Regulation AB. | Credit Enhancement and Other Support, Except for Certain Derivatives Instruments (Information Regarding Significant EnhancementProviders Financial Information). |
|-----------------------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Item 1115(b) of Regulation AB. | Certain Derivatives Instruments (Financial Information). |
|--------------------------------|----------------------------------------------------------|

| Item 1117 of Regulation AB. | Legal Proceedings. |
|-----------------------------|--------------------|

| Item 1119 of Regulation AB. | Affiliations and Certain Relationships and Related Transactions. |
|-----------------------------|------------------------------------------------------------------|

| Item 1122 of Regulation AB. | Compliance with Applicable Servicing Criteria |
|-----------------------------|-----------------------------------------------|

| Item 1123 of Regulation AB. | Servicer Compliance Statement. |
|-----------------------------|--------------------------------|

----

|   | (a) | The following documents have been filed as part of this report. |
|--------|-----|-----------------------------------------------------------------|

|  | 1. | None. |
|--|----|-------|

|  | 2. | None. |
|--|----|-------|

|  | 3. | Exhibits: |
|--|----|-----------|

|   | (b) | See Item 15(a) above. |
|--------|-----|-----------------------|

|   | (c) | Not Applicable. |
|--------|-----|-----------------|

----

|   | Synthetic Fixed-Income Securities, Inc., as Depositor for the Trust |                 |
|--------|---------------------------------------------------------------------|----------------------|
|   |                                                           |                 |
|   | By:                                                                 | /s/ Barbara Garafalo |   |
|   | Name:                                                               | Barbara Garafalo     |   |
|   | Title:                                                              | Vice President       |   |
|   |                                                                |                 |   |
|   | (senior officer in charge of the securitizations of the depositor)  |                 |

----

| Exhibit Number in this Form 10‐K | Description of 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.                                          |
| 33.1                                   | Report on Assessment of Compliance with Servicing Criteria for U.S. Bank Trust National Association for the period from and including January 1, 2015 through and including December 31, 2015. |
| 34.1                                   | Attestation Report of Ernst & Young LLP on Assessment of Compliance with Servicing Criteria relating to U.S. Bank Trust National Association.                                              |
| 35.1                                   | Servicer Compliance Statement of U.S. Bank Trust National Association for the period from and including January 1, 2015 through and including December 31, 2015.                               |

----