McDonalds Indications: <u>long ly</u> TRS + short 100% European call [C]

Jeffrey,

Please see below MCD ly Vols — they are much lower than LNKD or TWTR. IA on this trade would be 25% of Notional. The indications below work for $5mm notional.

McDonalds ly 100% vol

Southern Financial longs MCD through ly TRS:

• SF pays lmL+75bps to receive total return

$0.03 commission in and out, optional early termination applicable, monthly resets

Southern Financial shorts MCD ly 100% European calls:

• DB bids 5.25%

Vol: 17%

Regards,

Daniel

Daniel Sabba

Key Client Partners

EFTA01472057

Deutsche Bank Securities Inc.