Subject: RE: EURUSD Indicative Pricin [C] From: Vahe Stepanian Date: Fri, 04 Mar 2016 11:25:40 -0500 To: Richard Kahn Cc: Daniel Sabba Ariane Dwyer Paul Morris < Classification: Confidential Ok, we'll be back to you with refreshed pricing. From: Richard Kahn [mailto: Sent: Friday, March 04, 2016 11:04 AM To: Vahe Stepanian Subject: Re: EURUSD Indicative Pricing [C] thanks - jeffrey is still interested in trade can you please reprice as i now see EUR USD in 1.10-1.1025 range thank you Richard Kahn HBRK Associates Inc. 575 Lexington Avenue 4th Floor New York NY 10022 tel fax cel EFTA01477517 On Mar 3, 2016, at 1:22 PM, Vahe Stepanian c > wrote: Classification: Confidential Yes, the strikes included in your summary below are accurate. Please disregard the headers. From: Richard Kahn [mailto: Sent: Thursday, March 03, 2016 1:18 PM To: Vahe Stepanian Cc: Jeffrey Epstein; Daniel Sabba; Ariane Dwyer; Paul Morris Subject: Re: EURUSD Indicative Pricing [C] thank you for sending revised as pricing as improved nicely.. please clarify below as i believe your summary headers have not been updated from original email.. new pricing 1.12 / 1.075 new pricing 1.13 / 1.0675 Richard Kahn HBRK Associates Inc. 575 Lexington Avenue 4th Floor New tel fax cel EFTA01477518 On Mar 3, 2016, at 1:12 PM, Vahe Stepanian c > wrote: Classification: Confidential Jeffrey — please find refreshed indicative levels below per Rich's request. Thank you, Vahe Selling 1.12 EUR Call/Buying 1.0675 EUR Put 6 months expiry Spot Ref 1.0938 Leg 1: European Option Call SOFL sells European EUR Call on EUR/USD Strike: 1.12 Notional: EUR 100,000,000 Expiry: Tue 06-Sep-2016 EFTA01477519 Settlement: Thu 08-Sep-2016 Leg 2: European Option Put SOFL buys European EUR Put on EUR/USD Strike: 1.075 Notional: EUR 100,000,000 Expiry: Tue 06-Sep-2016 Settlement: Thu 08-Sep-2016 Net Premium: SOFL Pays USD 0 Selling 1.13 Call/ Buying 1.056 EUR Put 6 month expiry Spot Ref 1.0938 Leg 1: European Option Call SOFL sells European EUR Call on EUR/USD Strike: 1.13 Notional: EUR 100,000,000 Expiry: Tue 06-Sep-2016 Settlement: Thu 08-Sep-2016 EFTA01477520 Leg 2: European Option Put SOFL buys European EUR Put on EUR/USD Strike: 1.0675 Notional: EUR 100,000,000 Expiry: Tue 06-Sep-2016 Settlement: Thu 08-Sep-2016 Net Premium: SOFL Pays USD 0 From: Richard Kahn [mailto: Sent: Thursday, March 03, 2016 12:21 PM To: Vahe Stepanian Subject: Re: EURUSD Indicative Pricing [C] thank you can you please reprice and resend with euro now at 1.0939 as of 12:20pm thanks EFTA01477521 Richard Kahn HBRK Associates Inc. 575 Lexington Avenue 4th Floor New tel fax cel 2 On Mar 3, 2016, at 9:33 AM, Vahe Stepanian c > wrote: Classification: Confidential Jeffrey — please find indicative EURUSD pricing below per my conversation with Rich. Please let us know which strike you'd like to execute and we will follow up with live levels. Thank you, Vahe Selling 1.12 EUR Call/Buying 1.0675 EUR Put 6 months expiry Spot Ref = 1.0904 EFTA01477522 European Option Call SOFL sells European EUR Call on EUR/USD Strike: 1.12 Notional: EUR 100,000,000 Expiry: Tue 06-Sep-2016 Settlement: Thu 08-Sep-2016 Leg 2: European Option Put SOFL buys European EUR Put on EUR/USD Strike: 1.0675 Notional: EUR 100,000,000 Expiry: Tue 06-Sep-2016 Settlement: Thu 08-Sep-2016 Net Premium: SOFL Pays USD 0 Selling 1.13 Call/ Buying 1.056 EUR Put 6 month expiry Spot ref = 1.0907 EFTA01477523 Leg 1: European Option Call SOFL sells European EUR Call on EUR/USD Strike: 1.13 Notional: EUR 100,000,000 Expiry: Tue 06-Sep-2016 Settlement: Thu 08-Sep-2016 Leg 2: European Option Put SOFL buys European EUR Put on EUR/USD Strike: 1.056 Notional: EUR 100,000,000 Expiry: Tue 06-Sep-2016 Settlement: Thu 08-Sep-2016 Net Premium: SOFL Pays USD 0 Vahe Stepanian Key Client Partners Deutsche Bank Securities Inc. EFTA01477524 Tel. 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