Epstein Secrets

D03CA9.04BA 4440 god, cid:[email protected] BA4440 Best regards, Daniel From: Daniel Sabba Sent: Friday, January 30, 2015 10:23 AM To: Jeffrey E.' Cc: Vahe Stepanian; Richard Kahn; Paul Morris Subject: RE: One idea for diverging policies - calls on global dispersion [C] Classification: Confid

th, 2015 instead of Feb. 3 as noted below. Have a great weekend. Thank you, Vahe From: Daniel Sabba Sent: Friday, January 30, 2015 11:00 AM To: Jeffrey E. Cc: Richard Kahn; Paul Morris; Vahe Stepanian Subject: Trade Recap - 01.30.2015 - Call options on dispersion - SPX, EEM, SXSE, HSCEI, NKY [C] Classifi

orris; Vahe Stepanian Subject: Trade Recap - 01.30.2015 - Call options on dispersion - SPX, EEM, SXSE, HSCEI, NKY [C] Classification: Confidential Jeffrey, Southern Financial LLC entered into the following transaction with Deutsche Bank AG, acting through its London branch. Southern Financial purchase

Offer: 2.4% where Final Payout = Notional * max(Average Realized Dispersion — Strike,0) Average Realized Dispersion = Average(absolute value of Individual Dispersion for each Index i) Individual Dispersion for Index i = Final Performance for Index i — Average Performance Average Performance = average (Final Perf

a Sent: Thursday, January 29, 2015 2:54 PM To: 'Jeffrey E.' Cc: Vahe Stepanian; Richard Kahn; Paul Morris

evert tomorrow on whether the transaction has been executed. Thank you, Daniel From: Daniel Sabba Sent: Thursday, January 29, 2015 2:54 PM To: 'Jeffrey E.' Cc: Vahe Stepanian; Richard Kahn; Paul Morris Subject: One idea for diverging policies - calls on global dispersion [C] Classification: Confidenti

) Offer: 2.4% where Final Payout = Notional' max(Average Realized Dispersion — Strike,0) Average Realized Dispersion = Average(absolute value of Individual Dispersion for each Index i) CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0051193 CONFIDENTIAL SDNY_GM_00197377 EFTA01361917

From: Daniel Sabba Sent: Thursday, January 29, 2015 2:54 PM To: 'Jeffrey E.' Cc: Vahe Stepanian; Richard Kahn; Paul Morris Subject: One idea for diverging policies - calls on global dispersion [C] Classification: Confidenti

: Vahe Stepanian; Richard Kahn; Paul Morris Subject: One idea for diverging policies - calls on global dispersion [C] Classification: Confidential Jeffrey, As we look at the world, the enormous dispersion of monetary and fiscal policies is obvious. One transaction we have used in the past to articulat

Offer: 2.4% where Final Payout = Notional • max(Average Realized Dispersion — Strike,0) Average Realized Dispersion = Average(absolute value of Individual Dispersion for each Index i) Individual Dispersion for Index i = Final Performance for Index i —Average Performance Average Performance = average (Final Perfo