Epstein Secrets

rom: Richard Kahn <[email protected]> To: "Jeffrey E." <[email protected]> Subject: Fwd: Trade Reca

t amount of $152,705.94 is included in page 1 of the confirmation. Thank you, Vahe From: Vahe Stepanlan Sent: Monday, April 06, 2015 9:49 AM To: Jeffrey Epstein Cc: Daniel Sabba; Richard Kahn; Paul Morris; Mane Dwyer Subject: RE: Trade Recap - 4/2/2015 - DB Commodity WTI Short Volatility II Index [C] Classific

rd Kahn; Paul Morris; Mane Dwyer Subject: RE: Trade Recap - 4/2/2015 - DB Commodity WTI Short Volatility II Index [C] Classification: Confidential Jeffrey — please find WTI short vol. settlement details: Index strike for 2Apr is 242.8579 Discount factor is 0.9994011 EFTA00860049 Southern Financial

Sent: Monday, April 06, 2015 9:49 AM To: Jeffrey Epstein Cc: Daniel Sabba; Richard Kahn; Paul Morris; Man

Trade recap: SOFL unwinds the REFERENCE trade noted below at the close today. Unwind Date: 2 Apr 2015 Final payment will be computed as: DB pays: Notional / Strike * Index closing level on Unwind Date — Index closing level on Last Reset Date ] Discount Factor — Bid/Offer Cost If this number is negative, then S

From: "jeffrey E." <[email protected]> To: Richard Kahn Subject

t amount of $152,705.94 is included in page 1 of the confirmation. Thank you, Vahe From: Vahe Stepanian Sent: Monday, April 06, 2015 9:49 AM To: Jeffrey Epstein Cc: Daniel Sabba; Richard Kahn; Paul Morris; Mane Dwyer Subject: RE: Trade Recap - 4/2/2015 - DB Commodity WTI Short Volatility II Index [C] EFTA00860

orris; Mane Dwyer Subject: RE: Trade Recap - 4/2/2015 - DB Commodity WTI Short Volatility II Index [C] EFTA00860053 Classification: Confidential Jeffrey — please find WTI short vol. settlement details: Index strike for 2Apr is 242.8579 Discount factor is 0.9994011 Southern Financial pays USD 152,70

Sent: Monday, April 06, 2015 9:49 AM To: Jeffrey Epstein Cc: Daniel Sabba; Richard Kahn; Paul Morris; Man

Trade recap: SOFL unwinds the REFERENCE trade noted below at the close today. Unwind Date: 2 Apr 2015 Final payment will be computed as: DB pays: Notional / Strike * Index closing level on Unwind Date — Index closing level on Last Reset Date ] • Discount Factor — Bid/Offer Cost If this number is negative, then

From: Richard Kahn To: "Jeffrey E." <[email protected]> Subject: Fwd: Trade Reca

t amount of $152,705.94 is included in page 1 of the confirmation. Thank you, Vahe From: Vahe Stepanlan Sent: Monday, April 06, 2015 9:49 AM To: Jeffrey Epstein Cc: Daniel Sabba; Richard Kahn; Paul Morris; Mane Dwyer Subject: RE: Trade Recap - 4/2/2015 - DB Commodity WTI Short Volatility II Index [C] Classific

rd Kahn; Paul Morris; Mane Dwyer Subject: RE: Trade Recap - 4/2/2015 - DB Commodity WTI Short Volatility II Index [C] Classification: Confidential Jeffrey — please find WTI short vol. settlement details: Index strike for 2Apr is 242.8579 Discount factor is 0.9994011 EFTA00670829 Southern Financial

Sent: Monday, April 06, 2015 9:49 AM To: Jeffrey Epstein Cc: Daniel Sabba; Richard Kahn; Paul Morris; Man

Trade recap: SOFL unwinds the REFERENCE trade noted below at the close today. Unwind Date: 2 Apr 2015 Final payment will be computed as: DB pays: Notional / Strike * Index closing level on Unwind Date — Index closing level on Last Reset Date ] * Discount Factor — Bid/Offer Cost If this number is negative, then

From: Vahe Stepanian To: Jeffrey Epstein <[email protected]> CC: Daniel Sabba Richard Kahn Paul Morris , Ariane Dwyer Subject: Trade Recap - 4/2/2015 - DB Commodity WTI Short Volat

From: Vahe Stepanian To: Jeffrey Epstein <[email protected]> CC: Daniel Sabba Richar

From: Vahe Stepanian To: Jeffrey Epstein <[email protected]> CC: Daniel Sabba

Trade recap: SOFL unwinds the REFERENCE trade noted below at the close today. Unwind Date: 2 Apr 2015 Final payment will be computed as: DB pays: Notional / Strike * Index closing level on Unwind Date — Index closing level on Last Reset Date ] * Discount Factor — Bid/Offer Cost If this number is negative, then

Short Volatility II Index [C] Date: Mon, 06 Apr 2015 13:49:24 +0000 Attachments: Executed_Crude_Confirm_1.26.15.pdf Classification: Confidential Jeffrey — please find WTI short vol. settlement details: Index strike for 2Apr is 242.8579 Discount factor is 0.9994011 Southern Financial pays USD 152,70

Financial pays USD 152,705.94 to DB Settlement date: 7 Apr 2015 Thank you, Vahe From: Vahe Stepanian Sent: Thursday, April 02, 2015 3:00 PM To: Jeffrey Epstein Cc: Daniel Sabba; 'Richard Kahn'; Paul Morris; Mane Dwyer Subject: Trade Recap - 4/2/2015 - DB Commodity WTI Short Volatility II Index [C] Classificat

From: Vahe Stepanian To: Jeffrey Epstein <[email protected]> CC: Daniel Sabba , Rich

Trade recap: SOFL unwinds the REFERENCE trade noted below at the close today. Unwind Date: 2 Apr 2015 Final payment will be computed as: DB pays: Notional / Strike * [ Index closing level on Unwind Date — Index closing level on Last Reset Date ] * Discount Factor — Bid/Offer Cost If this number is negative, th

o make the payment and I will call Darren for verbal confirmation. Thank you, Vahe From: Vahe Stepanian Sent: Monday, April 06, 2015 9:49 AM To: Jeffrey Epstein Cc: Daniel Sabba; Richard Kahn; Paul Morris; Ariane Dwyer Subject: RE: Trade Recap - 4/2/2015 - DB Commodity WTI Short Volatility II Index [C] Classif

Kahn; Paul Morris; Ariane Dwyer Subject: RE: Trade Recap - 4/2/2015 - DB Commodity WTI Short Volatility II Index [C] Classification: Confidential Jeffrey — please find WTI short vol. settlement details: Index strike for 2Apr is 242.8579 Discount factor is 0.9994011 Southern Financial pays USD 152,70

Sent: Monday, April 06, 2015 9:49 AM To: Jeffrey Epstein Cc: Daniel Sabba; Richard Kahn; Paul Morris; Ari

Trade recap: SOFL unwinds the REFERENCE trade noted below at the close today. Unwind Date: 2 Apr 2015 Final payment will be computed as: DB pays: Notional / Strike * Index closing level on Unwind Date — Index closing level on Last Reset Date ] Discount Factor — Bid/Offer Cost If this number is negative, then S

From: "jeffrey E." <[email protected]> To: Daniel Sabba < Subj

ty II Index [C] Date: Wed, 14 Jan 2015 15:09:13 +0000 ok On Wed, Jan 14, 2015 at 11:07 AM, Daniel Sabba < > wrote: Classification: Confidential Jeffrey, The initial index strike was set last night at 255.8709. Please see attached the term sheet for this transaction. Official confirm to follow. Tha

heduled Expiry Date or earlier Strike: Underlying closing level on Effective Date Cash flows: On each reset date: EFTA00866675 Buyer receives: Notional / Strike * (Index closing level on reset date - Index closing level on previous reset date) For the first reset date, Index closing level on previous reset

ility II Index [C] Classification: Confidential Jeffrey, per our phone conversation, Southern Financial L

exit is on scheduled Expiry Date or earlier Strike: Underlying closing level on Effective Date Cash flows: On each reset date: Buyer receives: Notional / Strike * (Index closing level on reset date - Index closing level on previous reset date) For the first reset date, Index closing level on previous reset