EFTA01351267

Subject: Fw: BRL Notes... From: Tazia Smith < Date: Tue, 17 Dec 2013 10:23:46 -0500 To: Vahe Stepanian < Cc: Paul Morris Classification: Confidential Vahe - he may call you on these (if he hasn't already). I'm with Paul and Caroline at meeting, back in lhr. Tazia Smith Director Key Client Partners - US Deutsche Bank Securities, Inc. Deutsche Asset & Wealth Management 345 Park Avenue - 26th Floor New York. NY 10154 Tel: Mobil Fax: E-mail: Original Message From: Tazia Smith Sent: 12/17/2013 10:11 AM EST To: 'eevacation@ mail.com Cc: ; Paul Morris; Vahe Stepanian Subject: BRL Notes... [C] Classification: Confidential Good Morning Jeffrey - Per your request, sending full detail on your BRL notes. European barriers of 2.2562 and 2.3040 to get your principal back in -4-5mos. Please see below/attached and call us to discuss. (1) 3/20/14 Note - marking down, -22%. 15% european barrier (= 2.2562). Initial strike 1.9619. Current USDBRL spot -2.3267, -18%. (2) 4/14/14 Note - marking down -19%. 15% european barrier (=2.3040). Initial strike 2.0035. Current USDBRL spot -2.3267, -16%. Payout: a) make 28.5% if BRL is up more than 3% vs. USD at maturity, b) make 5% if BRL is up between 0-3% vs USD, c) get your principal down less than 15% vs. USD, d) loose 1 for 1 if BRL is down more than 15% vs USD at maturity (max loss 100%) (See attached file: HSBC BRL Step Up - TD April 5, 2013.pdf) (See attached file: HSBC BRL Step Up - TD March 13, 2013.pdf) EFTA01351267 Forwarded by on 12/16/2013 02:14 PM From: To: [email protected], Cc: Date: 11/12/2013 02:55 PM Subject: BRL Notes marking down >20% [C] Classification: Confidential Jeffrey - You're long 1mm USD each of BRL step up notes in Southern Trust from JP. The notes have a 15% barrier and BRL is presently down -17% vs. USD from your initial strike. The notes are marking down more than 20%. Barrier is European. Final valuation date on the notes are 3/20/14 and 4/14/14. Posting you and would like to get your view given the move and mark-to-market (vs. your -10% rule). Speak with you soon, Tazia (Embedded image moved to file: pic10844.gif) Tazia Smith Director I Key Client Partners - US Deutsche Bank Securities Inc Deutsche Asset & Wealth Management 345 Park Avenue, 26th Floor New York, NY 10154 Tel. Fax + Mobil Email EFTA01351268 (Embedded image moved to file: pic29420.gif) EFTA01351269