Ernm: Stewar ld Sent: 6/10/2015 lila Iv i To: Paul Morris ; Daniel Sabba l l Subject: RE: bullish expression of single stocks [CI ill Classification: For Internal use only Primary benefits are worst-of structure which can't be replicated with vanilla options and the barrier which gives better protection vs. long stock/short call. From: Paul Morris Sent: Wednesday, June 10, 2015 12:12 PM To: Stewart Oldfield; Daniel Sabba Subject: FW: bullish expression of single stocks [C] [I] Classification: For 'Memel use only Pis discuss Paul Morris Managing Director Deutsche Bank Private Bank Office: Cell: From: Jeffrey E. [mailto:feevacation@tomail.conl] Sent: Wednesday, June 10, 2015 11:50 AM To: Daniel Sabba; Paul Morris Subject: Re: bullish expression of single stocks [C] why is this differnet or better than selling 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 cz > wrote: Classification: Confidential Daniel Sabba Key Client Partners Deutsche Bank Securities Inc. Tel. Mobile Email From: Jeffrey E. [mailto:ieevacation@gmail.com] Sent: Wednesday, June 10, 2015 10:13 AM CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0082862 CONFIDENTIAL SDNY_GM_00229046 EFTA01383193