From: Tazia Smith To: Vahe Stepanian "jeffrey epstein" cte Cc: Paul Moths <a Subject: AAL [C] Date: Wed, 11 Dec 2013 16:59:36 +0000 Importance: Normal I nlin e-I mages: graycol.gif; 10678232.gif; 10452398.gif Classification: Confidential Jeffrey - American Airlines (AAL) is presently trading —$26.5. You can synthetically create the stock via listed risk reversal out to Jan15: Indicative levels: Spot ref 26.50 Buy Jan15 20 call Sell Jan15 20 put Net Debit: 6.25 Do this on 1000 contracts to represent your 2-3mm of exposure. This priced better than a total return swap. Indicative levels only. Subject to market movement. Source: DB WM Equity Derivatives, 12/11/13. TDS Tazia Smith Director Key Client Partners - US Deutsche Bank Securities, Inc. Deutsche Asset & Wealth Management Original Message From: Vahe Stepanian Sent: 12/11/2013 11:43 AM EST To: Cm: Paul Morris; Tazia Smith Subject: DXJ tC) Classification: Confidential Jeffrey, EFTA00639615 As a follow up to your conversation with Paul, please confirm you would like to purchase 60,000 DXJ @ market. DXJ is currently trading —$49.36, therefore the position = —$3mm exposure. Pill be back to you shortly on AAL. Thank you, Vahe Ire\ I Igor Vahe Stepanian Associate I Wealth Investment Coverage Deutsche Bank Securities Inc. Deutsche Asset & Wealth Management This communication may contain confidential and/or privileged information. If you are not the intended recipient (or have received this communication in error) please notify the sender immediately and destroy this communication. Any unauthorized copying, disclosure or distribution of the material in this communication is strictly forbidden. Deutsche Bank does not render legal or tax advice, and the information contained in this communication should not be regarded as such. EFTA00639616