RE: Argentina Long Dated Bonds EUR XCCY

Paul, we have done some more homework with research and trading, let's discuss the below. Thanks

Bond ISIN CCY Size(bio) Maturity Type Clean Price Bond Coupon Basis Last Coupon Next Coupon Fixed (Semi,30/360) Floating (Q, Act/360) ARGENT 5 ; 01/11/28 Corp US040114HQ69 USD 4.20 11-Jan-28 Bullet 95.62% 5.87% Semi, 30/360 11-Jan-18 11-Jul-18 6.48% 3.68% ARGENT 5 la 01/15/28 Corp XS1715303779 EUR 1.00 15-Jan-28 Bullet 100.45% 5.25% Ann, Act/Act 15-Jan-18 15-Jan-19 7.90% 5.00% ARGENT 7.82 12/31/33 Corp XS0205545840 EUR 2.20 31-Dec-33 Amortizing 114.25% 7.82% Semi, 30/360 31-Dec-17 29-Jun-18 9.30% 6.30%

Cross Currency Prices

1. EUR ARGENT 2028
   Notional Exchange
   Initial and Final
   EUR Notional
   USD Notional
   EUR Notional * 1.2340
   Swap Start
   T+2bd
   Swap End
   15 Jan 2028
   Client Pays
   EUR Notional * 5.25%
   (Ann, Act/Act) First Full Coupon 15 Jan 18 to 15 Jan 19
   Client Recs Floating
   USD Notional * [ 3m Libor + 5.00% ]
   (Quarterly, Act/360)
   First Short Coupon Swap Start to 15 Apr 18
   Client Recs Fixed
   USD Notional *
   [ 7.90% ] (Semi, 30/360) First Short Coupon Swap Start to 15 Jul 18

2. EUR ARGENT 2033
   Notional Exchange
   Intermediate and Final
   EUR Notional
   USD Notional
   EUR Notional * 1.2340
   Swap Start
   T+2bd
   Swap End
   31 Dec 2033
   Client Pays
   EUR Notional *
   7.82% (Semi, 30/360) First Full Coupon 31 Dec 17 to 29 Jun 18
   Client Receives
   EUR Notional * 14.50% Upfront (Difference between Dirty Price and Par)
   Client Recs Floating
   USD Notional * [ 3m Libor + 6.30% ]
   (Quarterly, Act/360) First Short Coupon Swap Start to 29 Jun 18
   Client Recs Fixed
   USD Notional * [ 9.30% ] (Semi, 30/360) First Short Coupon Swap Start to 29 Jun 18

Set Date Pay Date EUR Notional % Factor % EUR Notional EUR Amortization
Coupon (Semi, 30/360) Coupon EUR
31-Dec-17 29-Jun-18 100.00% 137.61% 1,376,104 0 7.82% 53,806
29-Jun-18 31-Dec-18 100.00% 137.61% 1,376,104 0 7.82% 53,806
31-Dec-18 28-Jun-19 100.00% 137.61% 1,376,104 0 7.82% 53,806
28-Jun-19 31-Dec-19 100.00% 137.61% 1,376,104 0 7.82% 53,806
31-Dec-19 30-Jun-20 100.00% 137.61% 1,376,104 0 7.82% 53,806
30-Jun-20 31-Dec-20 100.00% 137.61% 1,376,104 0 7.82% 53,806
31-Dec-20 30-Jun-21 100.00% 137.61% 1,376,104 0 7.82% 53,806
30-Jun-21 31-Dec-21 100.00% 137.61% 1,376,104 0 7.82% 53,806
31-Dec-21 30-Jun-22 100.00% 137.61% 1,376,104 0 7.82% 53,806
30-Jun-22 30-Dec-22 100.00% 137.61% 1,376,104 0 7.82% 53,806
30-Dec-22 30-Jun-23 100.00% 137.61% 1,376,104 0 7.82% 53,806
30-Jun-23 29-Dec-23 100.00% 137.61% 1,376,104 0 7.82% 53,806
29-Dec-23 28-Jun-24 100.00% 137.61% 1,376,104 -68,805 7.82% 53,806
28-Jun-24 31-Dec-24 95.00% 130.73% 1,307,299 -68,805 7.82% 51,115
31-Dec-24 30-Jun-25 90.00% 123.85% 1,238,493 -68,805 7.82% 48,425
30-Jun-25 31-Dec-25 85.00% 116.97% 1,169,688 -68,805 7.82% 45,735
31-Dec-25 30-Jun-26 80.00% 110.09% 1,100,883 -68,805 7.82% 43,045
30-Jun-26 31-Dec-26 75.00% 103.21% 1,032,078 -68,805 7.82% 40,354
31-Dec-26 30-Jun-27 70.00% 96.33% 963,273 -68,805 7.82% 37,664
30-Jun-27 31-Dec-27 65.00% 89.45% 894,467 -68,805 7.82% 34,974
31-Dec-27 30-Jun-28 60.00% 82.57% 825,662 -68,805 7.82% 32,283
30-Jun-28 29-Dec-28 55.00% 75.69% 756,857 -68,805 7.82% 29,593
29-Dec-28 29-Jun-29 50.00% 68.81% 688,052 -68,805 7.82% 26,903
29-Jun-29 31-Dec-29 45.00% 61.92% 619,247 -68,805 7.82% 24,213
31-Dec-29 28-Jun-30 40.00% 55.04% 550,441 -68,805 7.82% 21,522
28-Jun-30 31-Dec-30 35.00% 48.16% 481,636 -68,805 7.82% 18,832
31-Dec-30 30-Jun-31 30.00% 41.28% 412,831 -68,805 7.82% 16,142
30-Jun-31 31-Dec-31 25.00% 34.40% 344,026 -68,805 7.82% 13,451
31-Dec-31 30-Jun-32 20.00% 27.52% 275,221 -68,805 7.82% 10,761
30-Jun-32 31-Dec-32 15.00% 20.64% 206,415 -68,805 7.82% 8,071
31-Dec-32 30-Jun-33 10.00% 13.76% 137,610 -68,805 7.82% 5,381
30-Jun-33 31-Dec-33 5.00% 6.88% 68,805 -68,805 7.82% 2,690

Xavier Avila

Managing Director I Key Clients Partners

Wealth Management Americas
Deutsche Bank Securities Inc
345 Park Avenue, New York, NY, 10154-0004
Office
Mobile
Email

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Paul, slight mistake below.
Thanks

From: Xavier Avila
Sent: Friday, April 13, 2018 12:39 PM
To: 'Paul Barrett'
Cc: Martin Zeman; Davide-A Sferrazza; Stewart Oldfield
Subject: RE: Argentina Long Dated Bonds EUR XCCY

Paul

You bought EUR 1,000,000 ARGENT 5 /34 01/15/28 Corp (XS1715303779) at Clean Price 100.85%: Dirty Price 102.173288%

You enter into a EURUSD Cross Currency Swap

Xavier Avila

Managing Director I Key Clients Partners

Wealth Management Americas
Deutsche Bank Securities Inc
345 Park Avenue, New York, NY, 10154-0004
Office
Mobile
Email