From: Tazia Smith To: jeevacation@gmail.com Cc: Richard Kahn Subject: Re: FX Indicative Levels [C] Date: Tue, 02 Sep 2014 16:45:21 +0000 Inline-Images: unnamed; unnamed(1); unnamed(2); unnamed(3); unnamed(4); unnamed(5) Classification: Confidential understood working euro r/r at $322k or better keeping USDCNH or sell there at -$205k? Tazia Smith Director I Key Client Partners - US DB Securities Inc Wealth Management New York. NY. USA Pasidoi,:frr PerformFrom: "affray E. leevar-ation@gmail.com> To: Cc: Richard Kahn < > Date: 09/02/2014 12:41 PM Subject: Re: FX Indicative Levels (C) 322k unwind euro On Tuesday, September 2, 2014, Tazia Smith < > wrote: Classification: Confidential Got it Jeffrey - Given time since this morning, refreshed levels here to confirm you still want to unwind both the EURUSD risk reversal and the USDCNH put. Tightened USDCNH as much as possible with DB FX trading: EFTA01190553 EURUSD Spot Ref: 1.3127 <Client> sells Put, buys Call on EUR/USD in a Risk Reversal Put Strike: 1.345 Call Strike: 1.38 Notional: EUR 10,000,000 EUR Expiry: Mon 08-Sep-2014 Settlement: Wed 10-Sep-2014 ZoneCut: NY Premium: USD -322,700:5,100 (-317,600) ($317,600/$328,300) Premium Date: Thu 04-Sep-2014 Client receives $317,600 (+317,600 p/I) Source: DB FX Pricer 9/4/14 USDCNH Spot Ref: 6.1533 Leg 2: European Option Put <Client> sells European USD Put on USD/CNH Strike: 6.16 Notional: USD 75,000,000 Expiry: Wed 12-Aug-2015 Settlement: Fri 14-Aug-2015 ZoneCut: TK Premium: USD -205,000 ($205,000/$265,000) Premium Date: Thu 04-Sep-2014 Client receives $205,000 (-$68,000 p/I) Source: DB FX Trading 9/4/14 1 Tazia Smith Director I Key Client Partners - US DB Securities Inc Wealth Management 10154-0004 New York. NY. USA Panitrpcirr Per From: leffrey E." <jeevacation@gmaLcorn> To: Richard Kahn ..: ".. Tazia Smithfc Dale: 09/02/2014 12:11 PM Subject: Re: FX Indicative Levels IC] EFTA01190554 sell both positions On Tue, Sep 2, 2014 at 11:06 AM, Richard Kahn • wrote: Richard Kahn HBRK Associates Inc. New York, NY 10022 Begin forwarded message: From: Tazia Smith < Subject: FX Indicative Levels ICI Date: Se tember 2, 2014 at 8:52:18 AM EDT To: Cc: Paul Morris < , Vahe Stepanian < Classification: Confidential > Indicative levels, subject to market movement. Source: DB FX Pricer, 9/2/14. EURUSD Spot Ref: 1.312 <Client> sells Put, buys Call on EUR/USD in a Risk Reversal Put Strike: 1.345 Call Strike: 1.38 Notional: EUR 10,000,000 EUR Expiry: Mon 08-Sep-2014 Settlement: Wed 10-Sep-2014 ZoneCut: NY Premium: USD -329,800:5,100 (-324,700) Premium Date: Thu 04-Sep-2014 Client Receives $324,700 (+$324,700 p/I) USDCNH Spot Ref: 6.152 Leg 2: European Option Put EFTA01190555 <Client> sells European USD Put on USD/CNH Strike: 6.16 Notional: USD 75,000,000 Expiry: Wed 12-Aug-2015 Settlement: Fri 14-Aug-2015 ZoneCut: TK Premium: USD -186,000 (.248%/.345%) Premium Date: Thu 04-Sep-2014 Client Receives $186,000 (-$87,000 p/I) Tazia Smith Director I Key Client Partners - US DB Securities Inc Deutsche Asset & Wealth Management w York, NY, USA 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. please note 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 JEE 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 EFTA01190556 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. please note 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 JEE 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. EFTA01190557