GJT

This Form 10-K is an annual report for the fiscal year ended December 31, 2012, filed by STRATS(SM) Trust For Allstate Corp Securities, Series 2006-3. The entity is a special purpose trust issuing STRATS Certificates registered on the New York Stock Exchange. The depositor and sponsor is Synthetic Fixed-Income Securities, Inc. The filing is prepared in accordance with General Instruction J to Form 10-K, which permits the omission of standard business, risk factor, and financial statement sections typically found in corporate 10-K filings.

Key Financial Metrics

The filing text does not provide specific numerical values for revenue, profit, cash flow, margins, debt, or liquidity. As a securitization trust, its financial performance is derived from the underlying securities issued by The Allstate Corporation. The document explicitly states that financial information regarding the significant obligor (The Allstate Corporation) is available in The Allstate Corporation's separate periodic reports filed under Exchange Act file number 001-11840.

Material Changes and Operational Status

No material changes to the trust's structure or operations are detailed in this specific text. The filing confirms that:

There are no legal proceedings pending or contemplated against the depositor, Trustee, or issuing entity that are material to certificate holders.
The Trustee (The Bank of New York Mellon) has been assessed for compliance with servicing criteria for the year ended December 31, 2012, with no material instances of noncompliance identified.
Wells Fargo Bank, National Association, serves as the Swap Counterparty and is an affiliate of the sponsor and depositor.

Guidance, Risks, and Contingencies

The filing omits specific risk factors and management discussion sections per General Instruction J. However, it notes that neither the sponsor nor the Trustee has verified the accuracy or completeness of The Allstate Corporation's public reports, and there can be no assurance that undisclosed events affecting the underlying securities have not occurred. No credit enhancement or derivatives instruments other than the swap agreement with Wells Fargo are disclosed in this text.

Investor Verification Checklist

Verify the current financial health and credit rating of The Allstate Corporation, the issuer of the underlying securities, by reviewing its latest SEC filings (File No. 001-11840).
Confirm the status of the Swap Counterparty agreement with Wells Fargo Bank, National Association, as this is a critical component of the trust's structure.
Review the attached exhibits (33.1, 34.1, 35.1) for the full details of the Trustee's compliance assessment and independent attestation reports.
Check for any subsequent events or disclosures in The Allstate Corporation's reports that may impact the value of the underlying securities held by the trust.