Epstein Secrets

y. From: Jeffrey Epstein Sent: 12/20/2013 09:34 AM EST To: Paul Morris Subject: Fwd: Japanese Equity Basket... [C] Forwarded message From: Tazia Smith < Date: Wed, Dec 18, 2013 at 2:31 PM Subject: Japanese Equity Basket... [C] To: Cc: Paul Morris < >, Vahe Stepanian Classification: Confident

tps://ger gm. ci b i ntra n et.d b com/ger/document/pdf/0900b8c0879ce3f0.pdf 8308 JP Buy Current price 512 Target price (12m) 650 Upside 27% Tazia Smith Director I Key Client Partners - US Deutsche Bank Securities Inc Deutsche Asset & Wealth Management 345 Park Avenue, 26th Floor New York, NY 101

rlay (USDJPY now at 103.40). Let us know your thoughts, Tazia EFTA00711075 Indicative levels, subject to market movement. Source: Bloomberg and DB Global Markets Research 12/16/13. Supplemental Information: DB Research ex ects Ja.anese e. uities could double b 2015 • Abenomics will lead to higher operational lever

Mann Director, KCP U.S. Sales New York, North East, South East Thomas O'Rorke Director, KCP U.S. Sales New York, Mid Atlantic, Mid & South West Tazia Smith Director, KCP U.S. Sales New York, West Coast Matt Glassman P U.S. Sales even Quinn Associate, KCP U.S. ay ipman Analyst, KCP U.S. Ariane Dw

rperformed by only 2.1% during periods of JPY strength with a return / vol of 3.1 and -0.2, respectively — Risks: Max loss — 100% of notional (1) DB Global Markets Research: Japan Data Flash 08/13/14 (2) For additional detail on basket holdings please see Appendix. DB Global Markets Research: Synthetic Equity & Index S

[[email protected]) Sent: 12/20/2013 9:34:08 AM To: Paul Morris I Subject: Fwd: Japanese Equity Basket... [CI Forwarded messa ge From: Tazia Smith < Date: Wed, Dec 18, 2013 at 2:31 PM Subject: Japanese Equity Basket... [C] To: .eevacationG. mail.com Cc: Paul Morris < >, Vahe Stepanian < C

nside: 18% Not covered by 08. Price target reflects Bloomberg Average target. Indicative levels, subject to market movement. Source: Bloomberg and DB Global Markets Research 12/16/13. CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0 106462 CONFIDENTIAL SDNY_GM_00252646 EFTA01450659

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] Nav Gupta - former global macro trader with Citadel(?) (London) Vanshree Verma — formerly fixed income research [London] Roger Pocsh — [Zurich) Tazia Smith — [New York] Raphael Zagury — [Lataml Luis Chavez — [Latam] Bobby Abraham — [Singapore) Ed Lam — (Hong Kong] Apurva Gupta — [Mumbai) Delivering

David, Head of AWM FX Sales; Bilal Hafeez, George Saravelos, and global team, DB FX Strategists] Equities— Leverage the analysts/strategists within DB Global Markets Research division, Traders, and Equity Capital Markets (Joe Spinelli, CB&S Equity Strategy; Brian Rigney, ECM; Frank Wendels, ECM) Equity Derivatives — Greg