Subject: Re: Trade recap (DB / SOFL) [C] From: Matthew ()Connor cc z• Date: Thu, 17 Apr 2014 21:39:18 -0400 To: Paul Morris Cc: Tazia Smith Classification: Confidential Call me Monday From: Paul Morris To: Matthew ()Connor Cc: Tazia Smith Sent: Thu Apr 17 19:42:51 2014 Subject: Re: Trade recap (DB / SOFL) [C] Classification: Confidential Matt, need some help here, why does he feel we are trading against him if we are principal? From: Matthew OConnor Sent: 04/17/2014 03:20 PM EST To: "jeevacation@gmail.com" <jeevacation@gmail.com> Cc: Paul Morris; Tazia Smith; Laura Krattli; Jatin Bindal; Amit Garg; MO Commodities; James Fordham; Prateek Jain; Stavros Valavanis Subject: Re: Trade recap (DB / SOFL) [C] Classification: Confidential Jeffrey - I used 2 prices that approximated where the market was trading. Since we traded as a package, the legs are really more for reference. We act as a principal, not agent. We take market risk. Thanks, Matt EFTA01468408 From: Jeffrey Epstein <jeevacation@gmail.com> To: Matthew ()Connor Cc: Paul Morris; Tazia Smith; Laura Krattli; Jatin Bindal; Amit Garg; MO Commodities; James Fordham; Prateek Jain; Stavros Valavanis Sent: Thu Apr 17 15:12:03 2014 Subject: Re: Trade recap (DB / SOFL) Was told puts were 12 both ways . Do I am clear are you guys acting for me or principal against me On Thursday, April 17, 2014, Matthew OConnor <matthew.oconnor@db.com> wrote: Classification: External Communication Jeffrey - Thanks for the trade. To recap: Underlying: Jun14 WTI Bloomberg code: CLM4 <comdty> RMS Counterparty code: SOFL SOFL sells $101 call for $3.27/bbl SOFL buys $93.5 put for $.15/bbl Premium: DB pays $3.12/bbl ($312,000) Notional: 100,000 bbls on each leg Both legs knock out if on any day CLM4 fixes below $20/bbl. This trade fully unwinds existing trade. 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 EFTA01468409 Jeffrey Epstein 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 EFTA01468410