SECURITIES
AND EXCHANGE COMMISSIONWASHINGTON, D.C. 20549_____________________



FORM
10-K/A(Amendment No. 1)_____________________



|ý | ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
 SECURITIES EXCHANGE ACT OF 1934 FOR THE FISCAL YEAR
 ENDED DECEMBER 31, 2013              
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|  |                                                                                                                                                 
|  | OR                                                                                                                                              
|  |                                                                                                                                                 
| ̈ | TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d)
        OF THE SECURITIES EXCHANGE ACT OF 1934
        FOR THE TRANSITION PERIOD FROM       TO
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|  |                                                                                                                                                 

Commission
File Number of issuing entity: 001-32822STRATS TRUST FOR PROCTER & GAMBLE SECURITIES,
 SERIES 2006-1(Exact name of issuing entity as specified in its charter)



Commission File Number of depositor and
sponsor: 001-31818



SYNTHETIC FIXED-INCOME SECURITIES, INC.(Exact name of depositor and sponsor as specified in its charter)



|New York(State of incorporation or organizationof the issuing entity)                                        | 26-6115306(IRS Employer Identification No.)
|------------------------------------------------------------------------------------------------------------ | -------------------------------------------
|                                                                                                             |                                            
|One Wells Fargo Center301 S. College StreetCharlotte, North Carolina(Address of principal executive offices) | 28288(Zip Code)                            
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SECURITIES REGISTERED PURSUANT
TO SECTION 12(b) OF THE ACT:



|Title of Class                     | Name of  Registered Exchange     
|---------------------------------- | ---------------------------------
|STRATS Certificates, Series 2006-1 | 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 ý No



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 ý No



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.



ý
Yes  ̈ No



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).



ý
Yes  ̈ No



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.

 ̈



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 definition of “large
accelerated filer”, “accelerated filer” and “smaller reporting company” in Rule 12b-2 of the Exchange
Act.





|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 Exchange Act).



 ̈
Yes ý No



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.



DOCUMENTS INCORPORATED BY REFERENCE



List hereunder the following documents if
incorporated by reference and the part of the Form 10-K (e.g., Part I, Part II, etc.) into which the document is incorporated:
(1) Any annual report to security holders; (2) Any proxy information statement; and, (3) Any prospectus filed pursuant to Rule
424(b) or (c) under the Securities Act of 1933. The listed documents should be clearly described for identification purposes (e.g.,
annual report to security holders for fiscal year ended December 24, 1980).



None.



EXPLANATORY NOTE



The Depositor, on behalf of STRATS Trust
for Procter & Gamble Securities, Series 2006-1, is filing this Amendment No. 1 on Form 10-K/A to its Form 10-K for the year
ended December 31, 2013 to revise the disclosure included pursuant to Item 1122 of Regulation AB.



This Form 10-K/A does not otherwise amend
the Form 10-K.
















PART III



The information below has been provided in accordance with
General Instruction J to Form 10-K:



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



The Trustee has been identified as a party
participating in the servicing function during the reporting period with respect to the pool assets held by the issuing entity.
The Trustee’s report on an assessment of compliance with the servicing criteria applicable to it during the Issuing Entity’s
fiscal year ending December 31, 2013 and an attestation report by a registered independent public accounting firm regarding the
Trustee’s related report on assessment are attached as exhibits to this Form 10-K.



Except as disclosed below, neither the report
on assessment nor the related attestation report has identified any material instances of noncompliance with the servicing criteria
described in the report on assessment as being applicable to the Trustee. With respect to the exceptions identified below, the
Trustee has confirmed that none of the identified instances of noncompliance related to or affected STRATS Trust for Procter &
Gamble Securities, Series 2006-1.



Exceptions:



The Trustee’s report on assessment
and the related attestation report have identified material noncompliance with two servicing criteria applicable to the Trustee:



| | · | Servicing criterion 1122(d)(3)(i)(A) contemplates that reports to investors, including those to be filed with the Commission,
are maintained in accordance with the transaction agreements and applicable Commission requirements. Specifically, such reports
must be prepared in accordance with timeframes and other terms set forth in the transaction agreements.
| | - | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



Noncompliance:
The Trustee indicates that during the reporting period, certain reports to investors were not prepared in accordance with the timeframes
and other terms set forth in the related transaction agreements.



Remediation:
The Trustee further indicates that when its management became aware of such instances (a) controls designed to prevent such occurrences
in the future were implemented and (b) impacted investors received either (i) reports containing accurate information that were
not previously distributed or (ii) revised reports notifying investors that previous information in reports were revised with corrected
information. Reports were delivered to investors and filed on EDGAR on Form 10-D or Form 10-D/A, as required.



| | · | Servicing criterion 1122(d)(3)(ii) contemplates that amounts due to investors are allocated and remitted in accordance with
timeframes, distribution priority and other terms set forth in the transaction agreements.
| | - | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



Noncompliance:
The Trustee indicates that during the reporting period, for an auto transaction in its platform, certain amounts due to the related
investors were not remitted in accordance with the timeframes set forth in the related transaction agreements.



Remediation:
The Trustee further indicates that when its management became aware of such instance (a) the transaction was properly set-up on
the related company’s automated payment system and other controls designed to prevent such occurrences in the future were
implemented, (b) notice of the failure was made available to investors in the transaction through the facilities of DTC on August
21, 2013 and on a Form 10-D filed on EDGAR on the same date, and investors were offered compensation for the one day remittance
delay, and (c) the investor report was not revised as it accurately reflected the amounts due to investors and available for payment
on the payment due date.



2





SIGNATURES



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.
| | ---------------------------------------
| | (Depositor)                            





|Dated: January 13, 2015 | By: | /s/ William Threadgill                   
|----------------------- | --- | -----------------------------------------
|                        |     | William Threadgill                       
|                        |     | President                                
|                        |     | (senior officer of depositor in charge of
|                        |     | securitization)