Epstein Secrets

fice Cell: From: jeffrey E. [mailto:[email protected]] Sent: Monday, May 04, 2015 10:08 AM To: Vahe Stepanian Cc: Paul Morris; Daniel Sabba; Ariane Dwyer; Richard Kahn Subject: Re: DB James Malcolm: Are the BoJ shifting stance? Own some cheap optionality [C] these prices seem wrong. please send m

cation: Confidential Jeffrey- please find risk reversal pricing below per your request. Spot ref = 120.15 EFTA01400975 #1) SFLLC sells Put, buys Call on USD/JPY in a premium neutral Risk Reversal Put Strike: 118.00 Call Strike: 122.45 Notional: USD 10,000,000 USD Expiry: Thu 06-Aug-2015 (3m) Stru

ate Bank Office: 212-454-0701 Cell: From: Vahe Stepanian Sent: Monday, May 04, 2015 10:00 AM To: Jeffrey Epstein Cc: Paul Morris; Daniel Sabba; Ariane Dwyer; Richard Kahn Subject: RE: DB James Malcolm: Are the BoJ shifting stance? Own some cheap optionality [C] Classification: Confidential Jeffrey-

[C] Classification: Confidential Jeffrey- please find risk reversal pricing below per your request. Spot ref = 120.15 #1) SFLLC sells Put, buys Call on USD/JPY in a premium neutral Risk Reversal EFTA01401808 Put Strike: 118.00 Call Strike: 122.45 Notional: USD 10,000,000 USD Expiry: Thu 06-Aug-

From: Sent: To: CC: Paul Morris ;'Richard Kahn' l; Daniel Sabba I ; Ariane Dwyer ; Stewart Oldfield Subject: RE: DB James Malcolm: Are the Bo) shifting stance? Own some cheap optionatity..... [CI Vahe Stepanian 5/4/2015 1:44:

ify, we priced the structures by choosing a strike on the USD/JPY put sale, then solving for the call. Spot ref = 120.15 #1) SFLLC sells Put, buys Call on USD/JPY in a premium neutral Risk Reversal Put Strike: 118.00 Call Strike: 122.45 Notional: USD 10,000,000 USD Expiry: Thu 06-Aug-2015 (3m) As a spre

riginal Message From: Vahe Stepanian Sent: Monday, May 04, 2015 10:00 AM Eastern Standard Time To: Jeffrey Epstein Cc: Paul Morris; Daniel Sabba; Ariane Dwyer; Richard Kahn Subject: RE: DB James Malcolm: Are the BoJ shifting stance? Own some cheap optionality [C] Classification: Confidential Jeffrey- p

[C] Classification: Confidential Jeffrey- please find risk reversal pricing below per your request. Spot ref = 120.15 #1) SFLLC sells Put, buys Call on USD/JPY in a premium neutral Risk Reversal Put Strike: 118.00 Call Strike: 122.45 Notional: USD 10,000,000 USD Expiry: Thu 06-Aug-2015 (3m) Struc

riginal Message From: Vahe Stepanian Sent: Monday, May 04, 2015 10:00 AM Eastern Standard Time To: Jeffrey Epstein Cc: Paul Morris; Daniel Sabha; Ariane Dwyer; Richard Kahn Subject: RE: DB James Malcolm: Are the BoJ shifting stance? Own some cheap optionality [C] Classification: Confidential Jeffrey- p

[C] Classification: Confidential Jeffrey- please find risk reversal pricing below per your request. Spot ref = 120.15 #1) SFLLC sells Put, buys Call on USD/JPY in a premium neutral Risk Reversal Put Strike: 118.00 Call Strike: 122.45 Notional: USD 10,000,000 USD Expiry: Thu 06-Aug-2015 (3m) Struc

inal Message---- From: Vahe Stepanian Sent: Monday, May 04, 2015 10:00 AM Eastern Standard Time To: Jeffrey Epstein Cc: Paul Morris; Daniel Sabba; Ariane Dwyer; Richard Kahn Subject: RE: DB James Malcolm: Are the BoJ shifting stance? Own some cheap optionality [C] Classification: Conflderitel Jeffrey- p

As a spread: Price on the 117 is $149,100 / $160,000 Price on the 123.45 is $149,100 #3) SFLLC sells Put, buys Call on USD/JPY in a premium neutral Risk Reversal Put Strike: 116.00 Call Strike: 125.00 Notional: USD 10,000,000 USD Expiry: Thu 05-Nov-2015 (6m) Settlemen

tructure Mid: USD 130,000 Thank you, Vahe From: Daniel Sabba Sent: Friday, May 01, 2015 4:35 PM To: jeffrey E.; Paul Morris Cc: Vahe Stepanian; Ariane Dwyer; Richard Kahn Subject: RE: DB James Malcolm: Are the Bo) shifting stance? Own some cheap optionality [C] Classification: Confidential The reason

: Call Strike: Notional: Expiry: Structure Mid: 117.00 123.45 USD 10,000,000 USD Thu 05-Nov-2015 (6m) USD -160,000 #3) Snit sells Put, buys Call on USD/JPY in a premium neutral Risk Reversal Put Strike: 116.00 Call Strike: 125.00 Notional: USD 10,000,000 USD Expiry: Thu 05-Nov-2015 (6m) Struc