UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

~~WASHINGTON~~Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 OR 15(d) of ~~the~~The Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): March 13, 2014

Date of report (Date of earliest event reported): June 4, 2018
STRATS^SM Trust for Ambac Financial Group, Inc. Securities, Series 2007-1
(Exact name of registrant as specified in its charter)
Synthetic Fixed-Income Securities, Inc.
(Exact name of sponsor and depositor as specified in its charter)
Delaware
(State or other jurisdiction of incorporation)
001-33605	52-2316339
(Commission File Number)	(IRS Employer 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: 212-214-6277
No Change
(Former name or former address, if changed since last report)

~~STRATSSM~~Check ~~Trust~~the ~~for~~appropriate ~~Ambac~~box ~~Financial~~below ~~Group,~~if ~~Inc.~~the ~~Securities,~~Form ~~Series 2007~~8-1K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

~~________________________________________~~☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

~~(Exact~~☐ Soliciting ~~name~~material ofpursuant to ~~Registrant~~Rule as14a-12 ~~specified~~under inthe ~~its~~Exchange ~~charter~~Act (17 CFR 240.14a-12)

~~Synthetic~~☐ Pre-commencement ~~Fixed~~communications pursuant to Rule 14d-~~Income~~2(b) ~~Securities,~~under ~~Inc~~the Exchange Act (17 CFR 240.14d-2(b))

~~________________________________________~~☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

(Exact name of Sponsor and Depositor as specified in its charter)

Delaware		001-33605		52-2316339
(State or other jurisdiction of incorporation		(Commission File Number)		(IRS Employer 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: 212-214-6277

No Change (Former name or former address, if changed since last report)

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):

[ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Section 8 - Other Events

Item 8.01 Other Events.

On ~~October~~or 19about June 1, ~~2011~~2018, ~~U.S.~~Synthetic ~~Bank~~Fixed-Income ~~Trust~~Securities, ~~National Association~~Inc., as ~~trustee~~sponsor ~~(in~~and ~~such~~depositor ~~capacity, the “Trustee”)~~ on behalf of the ~~STRATSSM~~ Trust ~~for Ambac Financial Group~~, ~~Inc.~~intends ~~Securities,~~to ~~Series~~suspend ~~2007-1 (~~the “Trust”)’s ongoing ~~submitted~~reporting aobligation ~~Proof~~under ~~of Claim and Release (~~the ~~“Trust Claim”) in connection with the In re Ambac Financial Group Inc.~~ Securities ~~Litigation~~Exchange ~~class~~Act ~~action lawsuit (the “Ambac Securities Litigation”), in which the issuer~~ of ~~the~~1934 ~~Underlying~~by ~~Securities~~filing ~~was~~Form ~~a defendant, and the resulting settlement of the Ambac Securities Litigation. On November~~ 15, ~~2013,~~with the ~~United States District Court for the Southern District of New York issued an order approving the distribution plan for the funds awarded to the class members in the settlement of the Ambac~~ Securities ~~Litigation. On~~and ~~February~~Exchange ~~21, 2014, the Trust received funds in the amount of $1,455,843~~Commission.~~66 (the “Initial Trust Award”) relating to the Trust Claim in the settlement of the Ambac Securities Litigation.~~

OnIn ~~March~~connection with Ambac Financial Group, Inc.’s (“Ambac”) filing for a voluntary petition for relief under Chapter 11 of the United States Bankruptcy Code (and as more fully described in the current report on Form 8-K filed by the STRATSSM Trust for Ambac Financial Group, ~~2014~~Inc. Securities, Series 2007-1 (the ~~Trustee~~“Trust”) ~~issued~~with athe ~~notice~~Securities and Exchange Commission on May 6, 2013), 63,281 shares of new common stock of Ambac and 469,192 warrants were distributed to in full and final satisfaction of the ~~Certificateholders~~Underlying ~~regarding~~Securities ~~its~~and ~~receipt~~discharge of any claim against Ambac by the Trustee (as defined below), onas ~~behalf~~holder of the Underlying Securities, and the Underlying Securities were cancelled. In accordance with the terms of the Base Trust Agreement, dated as of September 8, 2006 (the ~~Initial~~“Base Trust ~~Award~~Agreement”), between Synthetic Fixed-Income Securities, Inc. A, as ~~copy~~trustor of(in such capacity, the ~~notice~~“Trustor”) isand ~~attached~~U.S. Bank Trust National Association, as ~~Exhibit~~trustee 99(in such capacity, the “Trustee”) and the Series Supplement, dated as of July 16, 2007 (the “Series Supplement” and, together with the Base Trust Agreement, the “Trust Agreement”), between the Trustor and the Trustee, the shares and the warrants described above were distributed to the Certificateholders.1 ~~hereto~~This distribution was reported by the Trust on its Form 10-D filed with the Securities and Exchange Commission on May 29, 2013.

In ~~accordance~~connection with the Trustee’s submission on behalf of the ~~terms~~Trust of ~~(i)~~a Proof of Claim and Release in the ~~Base~~In ~~Trust~~re ~~Agreement,~~Ambac ~~dated~~Financial asGroup ofInc. Securities ~~September~~Litigation 8,class ~~2006~~action lawsuit (the “~~Base~~Ambac ~~Trust~~Securities ~~Agreement~~Litigation”), ~~between~~in ~~Synthetic~~which ~~Fixed-Income~~the ~~Securities,~~issuer ~~Inc.,~~of the asUnderlying ~~trustor~~Securities ~~(in~~was ~~such~~a ~~capacity~~defendant, ~~the “Trustor”)~~ and the ~~Trustee~~resulting ~~and~~settlement ~~(ii)~~of the ~~Series~~Ambac ~~Supplement,~~Securities ~~dated~~Litigation (as ofmore ~~July~~fully ~~16,~~described in ~~2007 (~~the ~~“Series~~current ~~Supplement”~~report ~~and,~~on ~~together~~Form ~~with~~8-K ~~the~~filed ~~Base~~by the Trust ~~Agreement,~~with the ~~“Trust~~Securities ~~Agreement”),~~and ~~between~~Exchange ~~the~~Commission ~~Trustor~~on ~~and~~March ~~the~~14, ~~Trustee~~2014), the ~~Initial~~ Trust received ~~Award~~settlement ~~will~~funds bein ~~distributed~~the toamount ~~the~~of ~~Certificateholders~~$1,455,843. ~~Such~~66. ~~distribution~~In ~~will~~accordance bewith ~~made~~the ~~net~~terms of ~~all~~the ~~accrued~~Trust ~~and~~Agreement, ~~unpaid~~such ~~expenses~~settlement funds ofwere ~~the~~distributed ~~Trustee~~to ~~and~~the ~~its~~Certificateholders. ~~respective~~This ~~agents~~distribution upwas toreported by the ~~Allowable~~Trust ~~Expense~~on ~~Amount,~~its ~~all~~Form ~~accrued~~10-D ~~and~~filed ~~unpaid~~with ~~fees of~~ the Securities ~~Trustee,~~ and ~~any~~Exchange ~~unpaid~~Commission ~~listing~~on ~~fees~~March of26, ~~the Trust~~2014. ~~Following~~ ~~the~~Although ~~final~~it ~~disposition~~has ofbeen ~~all~~more ~~material~~than ~~outstanding~~four ~~claims~~years ofsince ~~the~~settlement ~~Trust,~~funds relating to the ~~Trust~~Ambac ~~will~~Securities ~~terminate~~Litigation inwere ~~accordance~~received ~~with~~by the ~~terms~~Trust, as of the ~~Trust~~date ~~Agreement. Capitalized~~hereof ~~terms~~the ~~used~~related ~~but~~lawsuit has not ~~defined~~been ~~herein~~formally and ~~have~~finally ~~the~~discharged ~~meanings~~by ~~assigned in~~ the ~~Trust Agreement~~court.

~~Section~~Synthetic 9 Fixed-Income Securities, ~~Financial~~Inc., ~~Statements~~as sponsor and ~~Exhibits~~depositor on behalf of the Trust, has concluded that (i) the sole remaining asset of the Trust is a potential claim to any remaining settlement funds that may arise in connection with the settlement of the Ambac Securities Litigation, and (ii) because settlement payments have already been received in connection with the settlement of the Ambac Securities Litigation, as described in the immediately preceding paragraph, the likelihood of additional settlement proceeds being distributed are uncertain and the net amount of such proceeds after payment of accrued and unpaid expenses of the Trust, if any, are not reasonably likely to be material.

~~Item~~Capitalized 9terms used but not defined herein have the meanings assigned in the Trust Agreement.~~01(d) Exhibits.~~

~~The following is filed as an Exhibit to this Report.~~SIGNATURES

~~Exhibit~~Pursuant to ~~99.1~~the ~~Notice~~requirements toof ~~Certificateholders~~the ~~from~~Securities ~~U.S.~~Exchange ~~Bank~~Act ~~Trust~~of ~~National Association~~1934, asthe ~~Trustee~~registrant ~~for~~has ~~the~~duly ~~STRATSSM~~caused ~~Trust~~this ~~for~~report ~~Ambac~~to be ~~Financial~~signed ~~Group,~~on ~~Inc.~~its ~~Securities,~~behalf ~~Series~~by ~~2007-1,~~the ~~dated~~undersigned ~~March~~hereunto ~~11,~~duly ~~2014~~authorized.

~~SIGNATURES~~Synthetic Fixed-Income Securities, Inc. (Registrant) By: /s/ Barbara Garafalo Name: Barbara Garafalo Title: Vice President

~~Pursuant~~Date: June ~~to the requirements of the Securities Exchange Act of 1934~~4, ~~the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.~~2018

	Synthetic Fixed-Income Securities, Inc.
	(Registrant)
Date: March 14, 2014	By: /s/ Barbara Garafalo
	Name: Barbara Garafalo
	Title: Vice President

Exhibit Index

Exhibit No.	Description
99.1	Notice to Certificateholders from U.S. Bank Trust National Association, as Trustee for the STRATSSM Trust for Ambac Financial Group, Inc. Securities, Series 2007-1, dated March 11, 2014.

Filing Compare · STRATS (SM) Trust for Ambac Financial Group, Inc. Securities, Series 2007-1