FW: Brazil Unwind - 1/15/2016

CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) CONFIDENTIAL

DB-SDNY-0120526
SDNY_GM_00266710
EFTA01459818

Jeffrey — Brazil CDS recap:

BraSov default swap with SOUTHERN FINANCIAL LLC DB Buys default protection on FEDERATIVE REPUBLIC OF BRAZIL

NOTIONAL : USD 10,000,000
TRADE DATE 15-Jan-2016
IM% None (unwind)
EFFECTIVE 16-Jan-2016
TERMINATION : 20-Mar-2020
REF OB BRAZIL 12.25% OF 03/30 ISIN: US105756AL40
CREDIT EVENTS Failure to Pay, R, Repudiation/Moratorium
ISDA Definition : 2014
SPREAD 462 bps per annum (COUPON: 100 bps per annum)
UPFRONT FEE : DB Pays USD 1,311,509.00
STANDARD TRADE : Yes
HARDWIRING : Yes
CLEARING HOUSE : No

Official trade confirm to follow.

Thank you,
Vahe

Hi was there p& Ion the unwind?

Paul Morris
Managing Director
Deutsche Bank Private Bank

From: Vahe Stepanian Sent: Friday, January 15, 2016 3:18 PM To: Jeffrey E. Cc: Daniel Sabba; Ariane Dwyer; Paul Morris; Stewart Oldfield; Richard Kahn Subject: Brazil CDS Unwind Recap - 1/15/2016 [C]

Classification: Confidential

Jeffrey — Brazil CDS recap:

BraSov default swap with SOUTHERN FINANCIAL LLC DB Buys default protection on FEDERATIVE REPUBLIC OF BRAZIL

NOTIONAL : USD 10,000,000
TRADE DATE 15-Jan-2016
IM% None (unwind)
EFFECTIVE 16-Jan-2016
TERMINATION : 20-Mar-2020
REF OB BRAZIL 12.25% OF 03/30 ISIN: US105756AL40
CREDIT EVENTS Failure to Pay, R, Repudiation/Moratorium
ISDA Definition : 2014
SPREAD 462 bps per annum (COUPON: 100 bps per annum)
UPFRONT FEE : DB Pays USD 1,311,509.00
STANDARD TRADE : Yes
HARDWIRING : Yes
CLEARING HOUSE : No

Official trade confirm to follow.

Thank you,
Vahe