From: Vahe Stepanian Sent: 11/19/2015 10:57:13 AM To: Jeffrey Epstein 'eevacation mail coml CC: Daniel Sabba ' Ariane Dw er Paul Morris I I; Stewart Oldfield ( ]- Subject: RE: (No Subject) [C) Classification: Confidential Jeffrey - I'm following up with indicative pricing on the one touch, digital put options on the SPX index. To be clear, the options below are continuous observation — therefore, if at any point between inception and maturity the underlying touches the relevant strike, you will receive 100% payout. Pricing is good for $5mm payout. SPX Index Ref: 2081 lm Tenor 90% Strike 95% Strike 3m Tenor 90% Strike 95% Strike Thank you, Vahe Offer = 12% Offer = 33% Offer = 31% Offer = 55% From: Vahe Stepanian Sent: Thursday, November 19, 2015 8:44 AM To: Jeffrey Epstein Cc: Daniel Sabba; Ariane Dwyer; Paul Morris; Stewart Oldfield; 'richardkahn12@gmail.com' Subject: RE: (No Subject) [C] Classification: Confidential Jeffrey - we will be back to you on the one-touch options after the open. With that said, please see below listed indications as of yesterday's close on listed SPX index options. Ref 2083.58 December Expiry: B SPX Dec 2000 Put @ $12.20/ct. S SPX Dec 2125 Call @ $12.50/ct. B SPX Dec 1950 Put @ $6.80/ct. S SPX Dec 2145 Call @ $6.70/ct. January Expiry: CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0088973 CONFIDENTIAL SDNY_GM_00235157 EFTA01386989