SECURITIES
AND EXCHANGE COMMISSION
WASHINGTON,
D.C. 20549
_______________________
FORM
8-K
_______________________
CURRENT
REPORT
PURSUANT
TO SECTION 13 OR 15 (d) OF THE
SECURITIES
EXCHANGE ACT OF 1934
Date of
report (Date of earliest event reported): March 11, 2010
| STRATSSM Trust for BNSF Funding Trust I Securities, Series 2007-2 | ||||
| (Exact Name of Registrant as Specified in Charter) | ||||
| Synthetic Fixed-Income Securities, Inc. | ||||
|
(Exact
Name of Sponsor and Depositor as Specified in its Charter)
|
|
Delaware
|
001-33639
|
52-2316339
|
||
|
(State or Other
Jurisdiction
|
(Commission File
|
(IRS Employer
|
||
|
of Incorporation)
|
Numbers)
|
Identification No.)
|
||
| Synthetic
Fixed Income Securities, Inc.
301
South College
Charlotte, North
Carolina
|
28288 | |||
| (Address of Principal Executive Offices) | (Zip Code) | |||
| Registrant’s telephone number, including area code: (212) 214-6274 | ||||
Check the
appropriate box below if the Form 8-K filing is intended to simultaneously
satisfy the filing obligation of the registrant under any of the following
provisions (see General Instruction A.2. below):
o Written communications
pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o Soliciting material
pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
240.14d-2(b))
o Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
240.13e-4(c))
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Section 8 Other Events
Item
8.01 Other Events
On March
4, 2010, Synthetic Fixed-Income Securities, Inc., trustor for the STRATSSM Trust for BNSF
Funding Trust I Securities, Series 2007-2 (the “Trust”) notified the New York
Stock Exchange (the “Exchange”) that Burlington Northern Santa Fe, LLC, the
successor to Burlington Northern Santa Fe Corporation (“BNSF”) had filed a
Form 15 with the Securities and Exchange Commission (the “Commission”) to
deregister all of its publicly-traded securities and end its filing obligations
under the Securities Exchange Act of 1934, as amended (the “Exchange
Act”). BNSF is the parent of BNSF Funding Trust I, and BNSF’s 6.613%
Fixed Rate/Floating Rate Junior Subordinated Notes, due December 15, 2055, and
related proceeds, are the only assets of BNSF Funding Trust I. BNSF
is also guarantor of the 6.613% Fixed Rate/Floating Rate Trust Preferred
Securities (the “BNSF Trust Securities”) issued by BNSF Funding Trust
I. The BNSF Trust Securities, and related proceeds, are the sole
assets of the Trust.
On March
8, 2010, the Trust received notice from the Exchange that trading in the STRATS
Callable Certificates, Series 2007-2 (ticker symbol “GJX”) (the “Securities”)
issued by the Trust would be suspended as of close of business on March 8, 2010,
and that the Exchange would make application to the Commission to delist
the Securities from the Exchange. The Exchange stated in a press
release dated March 8, 2010 that because BNSF is no longer an Exchange Act
registrant, and because the BNSF Trust Securities are the only asset of the
Trust, the Exchange believes that the Securities are no longer suitable for
exchange trading. The Exchange noted that it may, at any time,
suspend a security if it believes that continued dealings in the security on the
Exchange are not advisable.
The Trust
has determined that because BNSF is no longer a reporting company under the
Exchange Act, the Trust will be unable to satisfy listing requirements for the
Exchange or any other national securities exchange or national securities
association.
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SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the Registrant has
duly caused this report to be signed on its behalf by the undersigned hereto
duly authorized.
| Synthetic Fixed-Income Securities, Inc. | |
| (Registrant) | |
| By: /s/ William Threadgill | |
| Name: William Threadgill | |
| Title: President |
Date:
March 11, 2010
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