GJL Synthetic Fixed-Income Securities Floating Rate Strats Certificates, Series 2004-10 (For Daimler-Chrysler NA)

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:

 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

Title of each class Name of Registered exchange on which registered
------------------- -----------------------------------------------

STRATS(SM) Certificates, New York Stock Exchange ("NYSE")
Series 2004-10

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.

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.

--------------------------------------------------------------------------------
 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
--------------------------------------------------------------------------------

 By: /s/ Jimmy Whang
 ---------------------------
 Name: Jimmy Whang
 Title: Director





Dated: March 28, 2008

 EXHIBIT INDEX

------------------- ---------------------------------------------------- ----------------
Reference
Number per Exhibit
Item 601 of Number in this
Regulation SK Description of Exhibits Form 10-K
------------------- ---------------------------------------------------- ----------------
(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

------------------- ---------------------------------------------------- ----------------
 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.
------------------- ---------------------------------------------------- ----------------

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