Epstein Secrets

hanks Paul Morris Managing Director Deutsche Bank Private Bank Office: Cell: From: Vahe Stepanian Sent: Friday, October 30, 2015 11:27 AM To: jeffrey E. Cc: Daniel Sabba; Ariane Dwyer; Paul Morris; Stewart Oldfield; Richard Kahn Subject: Turkey and CNH [C] Classification: Confidential EFTA01404724 J

ian Sent: Friday, October 30, 2015 11:27 AM To: jeffrey E. Cc: Daniel Sabba; Ariane Dwyer; Paul Morris; St

ian Sent: Friday, October 30, 2015 11:27 AM To: jeffrey E. Cc: Daniel Sabba; Ariane Dwyer; Paul Morris; Ste

d skew, indicative pricing for ly, USD/CNH 6.5 — 7.0 call spread: Spot Ref: 6.3935 (pricing as of 10/27/15) Leg 1: European Option Call SOFL buys European USD Call on USD/CNH EFTA01404725 Strike: 6.5 Notional: USD 10,000,000 Expiry: Thu 27-Oct-2016 (ly) Premium: USD 287,100 (2.87%) Delta: 53% Strike vol: 6.

thanks Paul Morris Managing Director Deutsche Bank Private Bank EFTA01475491 From: Vahe Stepanian Sent: Friday, October 30, 2015 11:27 AM To: jeffrey E. Cc: Daniel Sabba; Ariane Dwyer; Paul Morris; Stewart Oldfield; Richard Kahn Subject: Turkey and CNH [C] Classification: Confidential Jeffrey — we're

ian Sent: Friday, October 30, 2015 11:27 AM To: jeffrey E. Cc: Daniel Sabba; Ariane Dwyer; Paul Morris; St

ian Sent: Friday, October 30, 2015 11:27 AM To: jeffrey E. Cc: Daniel Sabba; Ariane Dwyer; Paul Morris; Ste

ive pricing for ly, USD/CNH 6.5 — 7.0 call EFTA01475492 spread: Spot Ref: 6.3935 (pricing as of 10/27/15) Leg 1: European Option Call SOFL buys European USD Call on USD/CNH Strike: 6.5 Notional: USD 10,000,000 Expiry: Thu 27-Oct-2016 (ly) Premium: USD 287,100 (2.87%) Delta: 53% Strike vol: 6.24% Leg 2: Eur

king to trade thanks Paul Morris Managing Director Deutsche Bank Private Bank From: Vahe Stepanian Sent: Friday, October 30, 2015 11:27 AM To: jeffrey E. Cc: Daniel Sabba; Ariane Dwyer; Paul Morris; Stewart Oldfield; Richard Kahn Subject: Turkey and CNH [C] Classification: Confidential Jeffrey — we're

ian Sent: Friday, October 30, 2015 11:27 AM To: jeffrey E. Cc: Daniel Sabba; Ariane Dwyer; Paul Morris; St

ian Sent: Friday, October 30, 2015 11:27 AM To: jeffrey E. Cc: Daniel Sabba; Ariane Dwyer; Paul Morris; Ste

d skew, indicative pricing for ly, USD/CNH 6.5 — 7.0 call spread: Spot Ref: 6.3935 (pricing as of 10/27/15) Leg 1: European Option Call SOFL buys European USD Call on USD/CNH Strike: 6.5 Notional: USD 10,000,000 Expiry: Thu 27-Oct-2016 (ly) Premium: USD 287,100 (2.87%) EFTA01475497 Delta: 53% Strike vol: 6.

hanks Paul Morris Managing Director Deutsche Bank Private Bank Office: Cell: From: Vahe Stepanian Sent: Friday, October 30, 2015 11:27 AM To: jeffrey E. Cc: Daniel Sabba; Ariane Dwyer; Paul Morris; Stewart Oldfield; Richard Kahn Subject: Turkey and CNH [C] Classification: Confidential Jeffrey — we're

ian Sent: Friday, October 30, 2015 11:27 AM To: jeffrey E. Cc: Daniel Sabba; Ariane Dwyer; Paul Morris; St

ian Sent: Friday, October 30, 2015 11:27 AM To: jeffrey E. Cc: Daniel Sabba; Ariane Dwyer; Paul Morris; Ste

d skew, indicative pricing for ly, USD/CNH 6.5 — 7.0 call spread: Spot Ref: 6.3935 (pricing as of 10/27/15) Leg 1: European Option Call SOFL buys European USD Call on USD/CNH Strike: 6.5 Notional: USD 10,000,000 Expiry: Thu 27-Oct-2016 (ly) Premium: USD 287,100 (2.87%) EFTA01475488 Delta: 53% Strike vol: 6.

ovember 02, 2015 8:07 AM To: Vahe Stepanian; Daniel Sabba Subject: FW: Turkey and CNH [C] Morning where is CDS this am? Original Message From: jeffrey E. [[email protected]] Sent: Monday, November 02, 2015 05:23 AM Eastern Standard Time To: Vahe Stepanian Cc: Daniel Sabba; Ariane Dwyer; Paul Mor

down 7 % on the open. and that is the unleveraged play On Fri, Oct 30, 2015 at 11:27 AM, Vahe Stepanian < => wrote: Classification: Confidential Jeffrey — we're following up our phone calls earlier this week with two trade ideas: EFTA01475505 1) Buy Turkey 5y CDS — currently @ —253 It seems Turk

d skew, indicative pricing for ly, USD/CNH 6.5 — 7.0 call spread: Spot Ref: 6.3935 (pricing as of 10/27/15) Leg 1: European Option Call SOFL buys European USD Call on USD/CNH Strike: 6.5 EFTA01475506 Notional: USD 10,000,000 Expiry: Thu 27-Oct-2016 (ly) Premium: USD 287,100 (2.87%) Delta: 53% Strike vol: 6.

aul Morris < IMI > Date: Mon, 02 Nov 2015 08:07:11 -0500 To: Vahe Stepanian Daniel Sabba Morning where is CDS this am? Original Message From: jeffrey E. [[email protected]] Sent: Monday, November 02, 2015 05:23 AM Eastern Standard Time To: Vahe Stepanian Cc: Daniel Sabba; Ariane Dwyer; Paul Mor

tion down 7 % on the open. and that is the unleveraged play On Fri, Oct 30, 2015 at 11:27 AM, Vahe Stepanian wrote: Classification: Confidential Jeffrey — we're following up our phone calls earlier this week with two trade ideas: 1) Buy Turkey 5y CDS — currently @ —253 It seems Turkey has rallied

d skew, indicative pricing for ly, USD/CNH 6.5 — 7.0 call spread: Spot Ref: 6.3935 (pricing as of 10/27/15) Leg 1: European Option Call SOFL buys European USD Call on USD/CNH Strike: 6.5 Notional: USD 10,000,000 Expiry: Thu 27-Oct-2016 (ly) Premium: USD 287,100 (2.87%) Delta: 53% Strike vol: 6.24% Leg 2: Eur