7/17/2012 -- To the Holders of: $27,700,000 STRATS TRUST For JP Morgan Chase Capital XVII Securities, Series 2005-2 (Cusip 78478Q101) Please forward this notice to all beneficial holders. U.S. Bank Trust National Association serves as trustee for the above-referenced Trust formed pursuant to the terms of the Base Trust Agreement dated as of August 22, 2005, as supplemented by the Series Supplement Series 2005-2 dated October 24, 2005 by and between Synthetic Fixed-Income Securities, Inc. as Depositor (the “Depositor”) and the Trustee. The assets of the Trust include the following securities issued by J.P. Morgan Chase Capital XVII. $27,700,000 principal amount 5.850% Capital Securities, Series Q due August 1, 2035 CUSIP No. 46627VAA5* The Underlying Securities Guarantor has notified the Trustee of its redemption in full of the Underlying Securities pursuant to redemption provisions relating to the occurrence of a “Capital Treatment Event” (as defined in the prospectus governing the Underlying Securities) at 100% of the liquidation amount of each Underlying Security, together with accrued and unpaid distributions to July 12, 2012 (“Redemption Date”). The redemption of the Underlying Securities constitutes a Swap Agreement Termination Event that is also a Trust Termination Event, as described in the prospectus for the STRATS Certificates. Pursuant to the terms of the STRATS Certificates, upon the occurrence of a Swap Agreement Termination Event that is also a Trust Termination Event, Certificateholders are entitled to receive the liquidation proceeds of the Underlying Securities plus any Termination Amount payable by the Swap Counterparty to the Trust, or minus any Termination Amount payable by the Trust to the Swap Counterparty, as applicable. The liquidation proceeds of the Underlying Securities at par ($1,000) plus accrued and unpaid interest of $26.1625 per Underlying Security for a total amount of $1,026.1625 per Underlying Security. The amount per $25 par amount on the STRATS Certificate is $25.6541. The Termination Amount owed by the Trust to the Swap Counterparty is $10.9683 per STRATS Certificate, payable on July 16, 2012. Consequently, the amount payable to Certificateholders is $14.6857 principal amount per STRATS Certificate and 0 interest, equal to the liquidation proceeds of the Underlying Securities less the Termination Amount payable by the Trust to the Swap Counterparty (the “Certificate Termination Amount”). The Certificate Termination Amount will be paid to Certificateholders on July 16, 2012. Dated: July 11, 2012 _____________________________________________________________ To the Holders of: $15,000,000 STRATS TRUST For JP Morgan Chase Capital XVII Securities, Series 2005-5 (Cusip 78478QAA9) Please forward this notice to all beneficial holders. U.S. Bank Trust National Association serves as trustee for the above-referenced Trust formed pursuant to the terms of the Base Trust Agreement dated as of September 26, 2003, as supplemented by the Series Supplement Series 2005-5 dated October 24, 2005 by and between Synthetic Fixed-Income Securities, Inc. as Depositor and the Trustee. The assets of the Trust include the following securities issued by J.P. Morgan Chase Capital XVII. $15,000,000 principal amount 5.850% Capital Securities, Series Q due August 1, 2035 CUSIP No. 46627VAA5* The Underlying Securities Guarantor has notified the Trustee of its redemption in full of the Underlying Securities pursuant to redemption provisions relating to the occurrence of a “Capital Treatment Event” (as defined in the prospectus governing the Underlying Securities) at 100% of the liquidation amount of each Underlying Security, together with accrued and unpaid distributions to July 12, 2012. The redemption of the Underlying Securities constitutes a Swap Agreement Termination Event that is also a Trust Termination Event, as described in the prospectus for the STRATS Certificates. Pursuant to the terms of the STRATS Certificates, upon the occurrence of a Swap Agreement Termination Event that is also a Trust Termination Event, Certificateholders are entitled to receive the liquidation proceeds of the Underlying Securities plus any Termination Amount payable by the Swap Counterparty to the Trust, or minus any Termination Amount payable by the Trust to the Swap Counterparty, as applicable. The liquidation proceeds of the Underlying Securities at par ($1,000.00) plus accrued and unpaid interest of $26.1625 per Underlying Security for a total amount of $1,026.1625 per STRATS Certificate. The Termination Amount owed by the Trust to the Swap Counterparty is $554.00 per STRATS Certificate, payable on July 16, 2012. Consequently, the amount payable to Certificateholders is $472.1625 principal amount per STRATS Certificate and 0 interest, equal to the liquidation proceeds of the Underlying Securities less the Termination Amount payable by the Trust to the Swap Counterparty (the “Certificate Termination Amount”). The Certificate Termination Amount will be paid to Certificateholders on July 16, 2012. Dated: July 11, 2012

QUANTUMONLINE.COM SECURITY DESCRIPTION:  Synthetic Fixed-Income Securities Inc., Floating Rate STRATS (Structured Repackaged Asset-Backed Trust Securities) Certificates, Series 2005-2, STRATS Trust for JPMorgan Chase Capital Trust XVII Series 2005-2 Issuer, price to the public $25 per certificate. The underlying securities are the 5.850% Capital Securities due 8/01/2035 issued by JPMorgan Chase Capital Trust XVII. The certificates pay floating rate distributions monthly on the 1st day of each month to holders of record on the business day immediately preceding the payment date. The floating interest rate of the certificates will adjust for each distribution date and will be equal to the three month Treasury Bill rate plus 1.00% with a minimum interest rate of 3.00% and a maximum rate of 8.00%. The certificates are subject to deferral of interest if the payments on the underlying securities are deferred. The underlying notes are subject to early redemption if the underlying security issuer ceases to or fails to file periodic reports with the SEC. Certificate ratings at the IPO were A- by S&P. Synthetic Fixed-Income Securities, Inc. is a wholly-owned subsidiary of Wachovia Corporation. For further information on the STRATS Trust Certificates, see the IPO Prospectus by clicking on the ‘Link to IPO Prospectus’ provided below.

Stock Exchange	Cpn Rate Ann Amt	LiqPref CallPrice	Call Date Matur Date	Moodys/S&P Dated	Distribution Dates	15% Tax Rate
NYSE Chart	Floating n.a.	$25.00 $25.00	Called for 7/12/2012 8/01/2035	A2 BBB 6/18/2012	1st day of each month Click for MW ExDiv Date Click for Yahoo ExDiv Date	No

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HOME PAGE:     http://www.wellsfargo.com/ (This parent company URL is for reference only and does not have specific information on the security.)

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Address and Phone Numbers

Address:   Wells Fargo Securities, 375 Park Avenue, New York, NY 10152
Main Phone Number	212-214-6277
Fax Number	Not Available
Investor Contact (President)   William Threadgill	212-214-6277