EFTA Document EFTA01419729

Subject: RE: indication on WTI risk reversals [C] From: Vahe Stepanian <E > Date: Tue, 07 Jun 2016 11:23:22 -0400 To: Richard Kahn Cc: Daniel Sabba Stewart Oldfield Classification: Confidential Rich, Please see below refreshed indications - these levels are not tradable. As previously mentioned, we heard back from our Credit Risk Management team and they would require 40% IA for the below transactions in cash or treasures (i.e. approx. $20mm on 1mm barrels of WTI). Notional: 1mm barr