Subject: Short EURUSD Trades [C] From: Vahe Stepanian ‹ > Date: Wed, 29 Apr 2015 13:06:20 -0400 To: Jeffrey Epstein <[email protected]> Cc: Daniel Sabba Ariane Dwyer Richard Kahn Paul Morris Classification: Confidential Jeffrey- we think it makes sense to revisit bearish EURUSD trades given today's move. Refreshed levels are below. Please let us know should you wish to trade. Spot ref = 1.1150 Three alternatives: 1) Buy European Digital Put Option on EUR/USD Strike: Payout: Payout Ccy: Expiry: Premium Offer: USD 1.05 USD 1,000,000 Mon 02-Nov-2015 (6m) USD 200,000 (Mid = $185,000) 2) Buy European Put Option on EUR/USD EFTA01472942

Strike: Notional: Expiry: Premium Offer: 1.1050 EUR 10,000,000 Mon 02-May-2016 (1y) USD 385,000 (Mid $370,000) 3) Buy EUR/USD Put, sell EUR/USD call in a premium neutral Risk Reversal Put Strike: Call Strike: Notional: Expiry: Structure mid: Thank you, Vahe 1.07 1.1935 EUR 10,000,000 EUR Tue 02-May-2017 (2y) USD -47,000 Vahe Stepanian Assistant Vice President I Key Client Partners Deutsche Bank Securities Inc. Tel. Mobile Email All trade execution information contained herein is being provided as an EFTA01472943

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