Fwd: MCD Indicative Pricing [C)
Jeffrey — please =ind indicative pricing below on MCD per your request. McDonald's =MCD) spot ref $97.88.
#1- Total Return =wap:
Swap Seller: DB
Swap Buyer: Southern =inancial LLC
Ticker: &n=sp; MCD
Size: &nbs=; =50,000 shares
Expiry: &n=sp; 3/30/2016 (1y)
Spread: &n=sp; lmL + 75bps
Resets: &n=sp; Monthly
Optional Early Termination: Applicable, 3 days (two-way)
Commission: $0.06 per share in =nd out
#2 - European Call options on MCD:
Option Seller: Southern Financial LLC
Option Buyer: DB
Notional: =nbsp; 50,000 OTC Call
Expiry: &n=sp; 3/30/2016 (1y)
Strike: &n=sp; 100% of TRS Initial =trike
Bid: = &=bsp; 5.58%
Delta: &nb=p; 47%
If both the TRS + short call are executed as a package, IM =ould be 25%.
Thank you,
Vahe
Vahe Stepanian
Assistant Vice President = Key Client Partners
Deutsche Bank Securities Inc.
why .06 per share in and out when previous trades were for =03..
Total Return Swap:
Swap =eller: DB
Swap =uyer: Southern Financial LLC
Ticker: &n=sp; TWTR
Size: &nbs=; =100,000 shares
Expiry: &n=sp; 1/27/2016
Spread: &n=sp; lmL+ 75bps
Resets: &n=sp; Monthly
Optional =arly Termination: Applicable, 3 days (two-way)
Commissions: $0.03 per share in and =ut
Initial Strike: =ommercially reasonable VWAP until today's close
Richard Kahn
HBRK Associates Inc.
575 Lexington =venue 4th Floor
New York, NY 10022