From: Jeffrey E. [mailtojeevacationftmail.coml Sent: Wednesday, June 10, 2015 11:50 AM To: Daniel Sabba; Paul Morris Subject: Re: bullish expression of single stocks [C] why is this diffemet or better than seining calls against the stock? ? no provisoin to call can change mind overnight no exectuion risk? On Wed, Jun 10, 2015 at 10:14 AM, Daniel Sabba Classification: Confidential Daniel Sabba Key Client Partners Deutsche Bank Securities Inc, From: Jeffrey E. [mailto:jeevacation@gmail.coml Sent: Wednesday, June 10, 2015 10:13 AM To: Daniel Sabba Subject: Re: bullish expression of single stocks [C] number to call? On Wed, Jun 10, 2015 at 9:48 AM, Daniel Sabba Classification: Confidential Jeffrey, wrote: wrote: I called you back yesterday and left a message with Lesley. We had reached out to discuss using short dated structured notes to articulate constructive views on single name stocks. We priced the example below for AAPL and BK, and could do the same for your favorite names from the list we sent you last week (email below). Sample transaction terms - 18mo Callable Yield Note Issuer: BNP Paribas Maturity: 18 months (callable after 3 months) Underlying: Lesser of: Apple Inc (AAPL) Bank of New York Mellon (BK) Callable: Quarterly — at issuers discretion Contingent Coupon: 10.00% p.a. subject to coupon barrier CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0060283 CONFIDENTIAL SDNY_GM_00206467 EFTA01368517