"Rounded" down as in your example. This will return a varchar value of the date.
DECLARE @date As DateTime2
SET @date = '2007-09-22 15:07:38.850'
SELECT CONVERT(VARCHAR(16), @date, 120) --2007-09-22 15:07
SELECT CONVERT(VARCHAR(13), @date, 120) --2007-09-22 15