From: Tazia Smith <I To: jeevacation@gmail.com Cc: Paul Morris < Subject: Citi K fixed-to-float... [C] Date: Mon, 03 Feb 2014 19:14:32 +0000 Inline-Images: unnamed; unnamed(1); unnamed(2); unnamed(3) Classification: Confidential Jeffrey - Will be back with complete thoughts on all of the below, but given nice pullback today, some highlights (potentially timely entry points) are popping up, for one: Consider buying some of the Citi K fixed to floats today. They went ex-div today (50c) and are trading -$25.25 (down 45c). As you know, they're fixed at 6.875% and float in '23 at 3moL +413bps. One quarterly coupon and you've recouped the moderate premium to par C 6 7.3 12/31/49 $ 1 25.250 -.450 K25.230 /25.250 3x25 EXCI. At 13:57 Vo 1 177 757 C 25.300P l- 25.320N L 25.200E Val. 4.487M '9111rArReffl Table 10 3D 1P1 6M YTD 1Y SY Max Daily V 4.7: Security/Study 02/03/2014 Last Price M Line M C.4)n IMIIMI Volume ± Track Annotate News u, Zoom EP045024 Pfd ll • Last Price 25.250 T High on 01/22/14 25.890 4,- Average 25.243 1 Low on 10/30/13 24.870 Line Chart mar Event O 9.•• Volume 100.178M L • SMAVG (15) 1.077M 25.800 25.600 25.400 25.250 CJ.CV-V 25.000 24.800 IR Adtwww Oct 31 Nov 15 Nov 29 2013 Dec 16 Dec 31 Jan 15 2014 5M egg Jan 31 Tazia Smith EFTA01166566 Director I Key Client Partners - US Deutsche Bank Securities Inc gaff- Pexfoon From: Jeffrey Epstein leevacation@gmail.com> To: Date: 02'02+2014 08:59 PM Subject: percentages get a read from your team EFTA01166567 Equity Energy Equity Energy Renaisance Theme S 15.00 Sub Total Financials Equity Bristol Myers S 2.50 Pfizer S 2.50 Merck S 2.50 Valeant S 1.50 Acitayis S 1.50 Gilead S 1.50 Mylan S 1.00 Endo Health S 1.00 HCA S 0.50 Rite Aid S 0.50 Sub Total 15.00 Bank of America S 3.00 Fixed-to-Float Preferreds' (CIDI Eligible) JPM 6.75%. BBB. callable 2024 S 3.00 Citi - K 6.875% BB+, callable 2023 S 3.00 Morgan Stanley - F 6.875%, BB+. callable 2024 S 2.00 Ally - B 6.50%. B, callable 2016 S 1.00 Sub Total $ 9.00 Fixed Income Agency Interest Only Mortgages 5% Coupon Agency Interest Only Mortgages 4.5% Coupon Sub Total S 5.00 S 5.00 $ 10.00 Total $ 52.00 Europe Equity Recovery Consumer Carrefour S 1.50 Financial Intesa Sanoaolo S 1.50 Auto Volkswagen S 1.50 Advertising JC Decaux S 1.50 Staffing Adecco S 1.50 Insurance Grupo Catalana S 0.50 Healthcare Roche Holdings S 1.00 Energy Total S 1.00 Sub Total S 10.00 Eurostoxx Barrier Note S 10.00 Japan Equity Total $ 20.00 Financials Sumitomo S 0.50 Insurance Mitsui Fudosan S 0.50 Daiichi Life S 0.50 Consumer Seven and I S 0.50 Unicharm S 0.50 Exporters Sumitomo Electric S 0.50 Toyota S 0.50 Japan Tobacco S 0.50 Hitachi S 0.50 Advertising Dentsu S 0.50 Sub Total S 5.00 TOPIX Deta One Note S 7.00 Foreign Exchange Long USD / Short Yen ($5 hedge. S8 spec) S 13.00 Total S 20.00 Alternatives Credit Watford Re: Total S 8.00 8.00 EFTA01166568 The information contained in this communication is confidential, may be attorney-client privileged, may constitute inside information, and is intended only for the use of the addressee. It is the property of Jeffrey Epstein Unauthorized use, disclosure or copying of this communication or any part thereof is strictly prohibited and may be unlawful. If you have received this communication in error, please notify us immediately by return e-mail or by e-mail to jeevacation@gmail.com, and destroy this communication and all copies thereof, including all attachments. copyright -all rights reserved 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. EFTA01166569