From: Tazia Smith To: jeevacationggmail.eom Cc: Paul Morris , Vahe Ste anian < Vinit Sahni c , Nay Gupta Subject: Barrier Notes [C] Date: Wed, 05 Feb 2014 16:49:32 +0000 Inline-Images: unnamed; unnamed(1) Classification: Confidential Jeffrey - US ADP report came in light this morning at +175k v 185k cons, as you saw, payrolls catalyst on Friday. For US exposure on pullback and jump-up in volatility, consider (proposed percentages = 5.0): S&P Current: 80%: 1742 1394 Russell 2000 Current: 1086 80%: 868 13mo Contingent Minimum Return Worst-of Note (S&P 500 and Russell 2000): WoF SPX/RTY 8% Cont Min Return 80% Barrier Daily obs. 29.30% Cap Indicative levels only, subject to market movement, source: DB AWM Structured Solutions, 2/5/14. Europe Note: your current Eurostoxx Contingent Note matures 8/26/14, cont min was 4%, cap was 17%, barrier was 70% (1935). A direct comp to your existing structure is currently not pricing well (10.0 on proposed sheet, 5.0 on suggested). Combining US and European views improves the terms and upside participation: SXSE Current: 2962 80%: 2369 13mo Contingent Minimum Return Worst-of Note (Eurostoxx50 and Russell 2000): WoF SXSE/RTY 11.5% Cont Min Return 80% Barrier Daily obs. uncapped Indicative levels only, subject to market movement, source: DB AWM Structured Solutions, 2/5/14. EFTA01168256 Tazia Smith Director I Key Client Partners - US Deutsche Bank Securities Inc Deutsche Asset 8 Wealth Management 345 Park Avenue, 26th Floor New York, NY 10154 Tel. +1 (212)454-2889 Fax +1 848 257-3131 Mobile Email Petnio-1,-1-rr Perform. 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. EFTA01168257