From: Tazia Smith Sent: 7/1/2014 10:25:40 AM To: Vinit Sathe CC: Nay Gupta Inay.gupta@db.com]; Paul Morris [paul.morris@db.corn) Subject: Banco Espirito continued [CJ Classification: Confidential Rich - Vinit highlights the BESP 7.125 2023s LT2 (ISIN PTBEOJOM0012). This is subordinated Banco Espirito credit. Trading —94.125x95.375 or 8.4% (bloomberg). DB trader is wide on these given volatility - his indicative market is 93.5x95.5, so we'd clearly work a level if interested. Vinit • care to opine further? Thanks, Tazia BESPL 7 3 11/28/23 r •,-1.266 95.49 7 At 10:24 C'n 94.092 H: 94.882 I.:: o SS Sava As All Actions tz Ts‘,%• Une Chart "011111111=1.104 - 10 30 1M el NTO • Ploy in Track Annotate " News . ZOOm li • Last Price 94.882 T High on 06/09/14 111.227 -0- Average 105.406 .1 Low on 06/30/14 94.697 Feb Mar Apr May Jun 2014 Jan g- 112.000 :110.000 s- 108.000 • 106.000 •104.000 • 102.000 • 100.000 I-98.000 •-aak CONFIDENTIAL - PURSUANT TO FED. R. GRIM. P. 6(e) DB-SDNY-0 112709 CONFIDENTIAL SDNY_GM_00258893 EFTA01454550