Epstein Secrets

field Daniel Sabba Ariane Dwyer Classification: For internal use only Paul — just returned your call. Give me a call at your convenience @ From: Paul Morris Sent: Wednesday, November 18, 2015 9:17 AM To: Vahe Stepanian Cc: Stewart Oldfield; Daniel Sabba; Ariane Dwyer Subject: RE: [I] Classification:

n Cc: Stewart Oldfield; Daniel Sabba; Ariane Dwyer Subject: RE: [I] Classification: For internal use only Thanks give us a call when you free up Paul Morris Managing Director Deutsche Bank Private Bank Office: Cell: From: Vahe Stepanian Sent: Tuesday, November 17, 2015 5:43 PM To: Paul Morris Cc:

2030 Indicative Terms (as of 11/17/2015): Client buys PETBRA 3.250% Notes '17 Maturity 03/17/2017 Amount 0/S $1.6bn Rating Ba2 / BB / BBB- (Mdy/S&P/Fitch) Price 95.25 Mid Yield 7.06% Client buys PETBRA 3.500% Notes '17 Maturity 02/06/2017 Amount 0/S $1.75bn Rating Ba2 / BB / BBB- (Mdy/S&P/F

nce U'; 9l5 Cocos: a primer; Deutsche Bank Flow Credit Trading From: Jeffrey E. [mantic): jevwMaior n Sent Tuesday, November 17, 2015 12:43 PM To: Paul Morris Subject: lets look at leveraged preferred or leveraged bonds. please note The information contained in this communication is confidential, may b

Rating Price Mid Yield Client buys Maturity Amount O/S Rating Price Mid Yield PETBRA 3.250% Notes '17 03/17/2017 $1.6bn Ba2 / BB / BBB- (Mdy/S&P/Fitch) 95.25 7.06% PETBRA 3.500% Notes '17 02/06/2017 $1.75bn Ba2 / BB / BBB- (Mdy/S&P/Fitch) 95.875 7.10% EFTA00840385 We are happy to also spe

nt: To: CC: Subject: Attachments: Vahe Stepanian 11/18/2015 3:52:19 PM Jeffrey Epstein 'eevacation mail comj Daniel Sabba ' Ariane Dw er ; Paul Morris Stewart Oldfield I I: Fixed Income Follow•Up IC) Petrobras - Buy the 17s DB Research.pdf Classification: Confidential Jeffrey - Paul sent along

O/S Rating Price Mid Yield Client Maturity Amount O/S Rating Price Mid Yield PETBRA 3.250% Notes '17 03/17/2017 $1.6bn Ba2 / BB / BBB- (Mdy/S&P/Fitch) 95.25 7.06% buys PETBRA 3.500% Notes '17 02/06/2017 $1.75bn Ba2 / BB / BBB- (Mdy/S&P/Fitch) 95.875 7.10% We are happy to also speak about

From: Sent: To: CC: Vahe Stepanian 11/17/2015 5:43:01 PM Paul Morris Stewart Oldfield Daniel Sabba J; Ariane Dwyer Subject: RE: Attachments: 0ZLM Manager Pitchbook_September 2015.pdf; Global Research Fl Top Ideas

O/S Rating Price Mid Yield Client Maturity Amount O/S Rating Price Mid Yield PETBRA 3.250% Notes '17 03/17/2017 $1.6bn Ba2 / BB / BBB- (Mdy/S&P/Fitch) 95.25 7.06% buys PETBRA 3.500% Notes '17 02/06/2017 $1.75bn Ba2 / BB / BBB- (Mdy/S&P/Fitch) 95.875 7.10% CONFIDENTIAL - PURSUANT TO FED. R