Epstein Secrets

Subject: FW: Trade Report 8/12/14 - USDCNH lyr Put [C] From: Vahe Stepanian sz: > Date: Tue, 11 Aug 2015 11:13:50 -0400 To: Paul Morris < Cc: Daniel Sabba Ariane Dwyer Classification: Confidential From: Vahe Stepanian Sent: Friday, August 07, 2015 1:15 PM To: 'jeffrey E.' Cc: D

e Dwyer Classification: Confidential From: Vahe Stepanian Sent: Friday, August 07, 2015 1:15 PM To: 'jeffrey E.' Cc: Daniel Sabba; Ariane Dwyer; Paul Morris; Stewart Oldfield; 'Richard Kahn' Subject: RE: Trade Report 8/12/14 - USDCNH lyr Put [C] Classification: Confidential Per the attached valuation s

ndicative pricing is for an option struck around current USD/CNH spot. Indicative pricing is as follows: Spot ref = 6.2173 Southern Financial buys European USD Put on USD/CNH Strike: 6.218 Notional: USD 75,000,000 Expiry: Tue 09-Aug-2016 (1y) Premium: USD 295,000 Please let us know if you have questions. Thank yo

rk, NY 10022 t Begin forwarded message: From: Tazia Smith Subject: FX Indicative Levels ICI Date: Se tember 2, 2014 at 8:52:18 AM EDT To: Cc: Paul Morris , Vahe Stepanian < Classification: Confidential Indicative levels, subject to market movement. Source: DB FX Pricer, 9/2/14. EURUSD Spot Ref: 1.3

4-Sep-2014 Client receives $317,600 (+317,600 p11) Source: DB FX Pricer 914114 USDCNH Spot Ref: 6.1533 Leg 2: European Option Put <Client> sells European USD Put on USD/CNH Strike: 6.16 Notional: USD 75,000,000 Expiry: Wed 12-Aug-2015 Settlement: Fri 14-Aug-2015 ZoneCut: TK Premium: USD -205,000 ($205,000/$265

From: Tazia Smith Sent: 8/15/2014 9:31:53 AM To: CC: Vahe Stepania ; Paul Morris Subject: Indicative Levels, FYI IC) Attachments: pic08973.gif; pic30971.gif Classification: Confidential Good Morning Rich -- Indicative levels

lement: Mon 08-Sep-2014 ZoneCut: NY Premium: USD -86,300:4,400 (-81,900) Premium Date: Tue 19-Aug-2014 Leg 2: European Option Put <Client> sells European USD Put on USD/CNN Strike: 6.16 Notional: USD 75,000,000 Expiry: wed 12-Aug-2015 Settlement: Fri 14-Aug-2015 ZoneCut: TK Premium: USD -200,250 Premium Date:

From: Tazia Smith Sent: 8/19/2014 11:09:44 AM To: [email protected] CC: Paul Morris Marie Glassman Subject: EURUSD (+$140.4k), USDCNH(-$43.54 l; Vahe Stepanian Classification: Confidential Good Morning Rich - Refreshed indicati

USDCNH(-$43.54 l; Vahe Stepanian Classification: Confidential Good Morning Rich - Refreshed indicative levels: USDCNH Put (spot ref 6.144) sells European USD Put on USD/CNH Strike: 6.16 Notional: USD 75,000,000 Expiry: Wed 12-Aug-2015 Settlement: Fri 14-Aug-2015 ZoneCut: TK Premium: USD -229,500 (30.6bps/43.3b

From: Sent: To: CC: Paul Morris I; Vahe Stepanian [ I; Nav Gupta Tazia Smith 8/19/2014 11:09:44 AM Marie Glassman Subject: EURUSD (+$140.4k), USDCNH(-$43510 (C) Attachments:

ments: pic06763.gif; pic16188.gif Classification: Confidential Good Morning Rich - Refreshed indicative levels: USDCNH Put (spot ref 6.144) sells European USD Put on USD/CNH strike: 6.16 Notional: USD 75,000,000 Expiry: Wed 12-Aug-2015 settlement: Fri 14-Aug-2015 ZoneCut: TK Premium: USD -229,500 (30.6bps/43.3b

a Smith Sent: 8 25 20149:20:00 AM To: CC: Vahe Stepanian Subject: Indicative Levels... (CI Classification: Confidential Good Morning Rich - Paul Morris Note, UK is technically on holiday today. That does affect liquidity incrementally. Watching the USDJPY above 104.As you see, the valuation stateme

p-2014 ZoneCut: NY Premium: USD -254,400:4,500 (-249,900) Premium Date: Wed 27-Aug-2014 Client receives: $249,000 (+$249,000 p/I) <Client> sells European USD Put on USD/CNH Strike: 6.16 Notional: USD 75,000,000 Expiry: Wed 12-Aug-2015 Settlement: Fri 14-Aug-2015 ZoneCut: TK Premium: USD -186,750 (24.9bps/33.5b

e Stepanian Subject: Indicative Levels... ICI Attachments: pic05284.gif; pic05253.gif 8/25/2014 9:20:00 AM I I Classification: Confidential ; Paul Morris Good Morning Rich - Note, UK is technically on holiday today. That does affect liquidity incrementally. Watching the USDJPY above 104.As you see, t

p-2014 ZoneCut: NY Premium: USD -254,400:4,500 (-249,900) Premium Date: Wed 27-Aug-2014 Client receives: $249,000 (+4249,000 p/l) <Client> sells European USD Put on USD/CNH Strike: 6.16 Notional: USD 75,000,000 Expiry: wed 12-Aug-2015 Settlement: Fri 14-Aug-2015 ZoneCut: TK Premium: USD -186,750 (24.9bps/33.Sb

From: Sent: To: CC: Tazia Smith 8/20/2014 11:05:35 AM Paul Morris Subject: FX (0 Attachments: pic19653.gif; pic23117.gif classification: Confidential Rich - Update levels for your reference. ; Matt Glassman [

(+5160,000 p/l) Indicative levels. Subject to market movement. Source: DB FXPricer, 8/20/14. European Option Put (spot ref 6.142) <client> sells European USD Put on USD/CNH Strike: 6.16 Notional: USD 75,000,000 Expiry: Wed 12-Aug-2015 Settlement: Fri 14-Aug-2015 ZoneCut: TK Premium: USD -244,500 (32.6bps/40.5bp

From: Sent: To: CC: VaheStepanian I; Paul Morris Subject: FX Indicative Levels [CI Attachments: ECB QE In September 8.26.14.pdf; pic25900.gif; pic29296.gif Tazia Smith 8/29/2014 9:38:33 AM Cla

mium: usD -273,300:4,800 (-268,500) Premium Date: Tue 02-Sep-2014 Client Receives: $268,500 (+S268,500 p/l) USDCNH Spot Ref: 6.147 <Client> sells European USD Put on USD/CNH Strike: 6.16 Notional: USD 75,000,000 Expiry: wed 12-Aug-2015 Settlement: Fri 14-Aug-2015 ZoneCut: TK Premium: USD -241,500 (0.322%/0.39%)

From: Tazia Smith Sent: 9/2/2014 8:52:18 AM To: CC: Paul Morris Subject: FX Indicative Levels ICI Attachments: pic05436.gif; pic23669.gif Classification: Confidential Vahe Stepanian Indicative levels, subjec

-324,700) Premium Date: Thu 04-Sep-2014 Client Receives $324,700 (+$324,700 01) USDCNH Spot Ref: 6.152 Leg 2: European Option Put <Client> sells European USD Put on USD/CNH Strike: 6.16 Notional: USD 75,000,000 Expiry: wed 12-Aug-2015 Settlement: Fri 14-Aug-2015 ZoneCut: TK Premium: USD -186,000 (.248%/.34S%)