Item 14. Principal Accountant Fees and Services.
Substitute information provided in accordance with General
Instruction J to Form 10-K:
Item 1112(b) of Regulation AB. Significant Obligors of Pool
Assets (Financial Information).
The Procter & Gamble Company, the issuer
of the underlying securities, is subject to the information reporting requirements of the Securities Exchange Act of 1934 (the
“Exchange Act”). For information on The Procter & Gamble Company please see its periodic and current reports filed
with the Securities and Exchange Commission (the “Commission”) under its Exchange Act file number, 001-00434. 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 The Procter & Gamble Company 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
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.
Item 1114(b)(2) of Regulation AB. Credit Enhancement and
Other Support, Except for Certain Derivatives Instruments (Financial Information).
None.
Item 1115(b) of Regulation AB. Certain Derivatives Instruments
(Financial Information).
None.
Item 1117 of Regulation AB. Legal Proceedings.
There are no legal proceedings pending,
or any proceedings known to be contemplated, by governmental authorities against the depositor, the Trustee or the issuing entity,
or any property thereof, that is material to the holders of the Certificates.
Item 1119 of Regulation AB. Affiliations and Certain Relationships
and Related Transactions.
In accordance with the Instruction to Item
1119, affiliations and certain relationships and related transactions are described below in response to this item.
Wells Fargo Bank, National Association (“Wells
Fargo Bank”), as successor to Wachovia Bank, National Association, is the “Swap Counterparty” with respect to
its obligations under the ISDA Master Agreement including the Schedule thereto and a confirmation thereunder, by and among the
Swap Counterparty and the issuing entity, dated as of February 28, 2006. Wells Fargo Bank is an affiliate of Synthetic
Fixed-Income Securities, Inc., the sponsor of the issuing entity and the depositor of the issuing entity and Wells Fargo Securities,
LLC (formerly known as Wachovia Capital Markets, LLC), who acted as an underwriter of the Certificates issued by the issuing entity.
The Trustee is unaffiliated with, but may
have normal banking relationships with, the sponsor, the depositor and their respective affiliates.
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, 2019 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 additional material instances of noncompliance with the servicing
criteria described in the report on assessment as being applicable to the Trustee. With respect to the exception identified below,
the Trustee has identified one instance of noncompliance related to STRATS Trust for Proctor & Gamble Securities, Series 2006-1.
Exception:
The Trustee’s report on assessment
and the related attestation report have identified material noncompliance with one servicing criterion applicable to the Trustee:
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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 timeframes and other terms set forth in the transaction agreements.
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Noncompliance:
During the period, certain reports to investors were not prepared in accordance with the timeframes set forth in the transaction
agreements.
Remediation:
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Transaction identifiers will be verified and made uniform, as needed, between the BNY Mellon Investor Reporting website and
the system that generates investor reports.
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All desktop procedures for the Platform will be reviewed to make sure the correct transaction identifiers are listed for all
reports that need to be made available to investors on the BNY Mellon Investor Reporting website.
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A review of the BNY Mellon Investor Reporting website will be undertaken on the relevant Payment Dates to verify that all pertinent
reports have been successfully posted and assure any needed remediation occurs on the same date.
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Item 1123 of Regulation AB. Servicer Compliance Statement.
The Trustee has provided a compliance statement,
signed by an authorized officer, attached as an exhibit to this Form 10-K.