EFTA01378363

INTERNAL USE ONLY DO NOT DISTRIBUTE IN PART OR IN WHOLE IMPORTANT INFORMATION This material is a product of the Fixed Income Research Team within Asset & Wealth Management. This is not an offer, advice, recommendation or solicitation to buy or sell, nor is it an official confirmation of terms. It is based on information from sources believed to be reliable. This material has been prepared solely for informational purposes. Internal use only. Investment Professionals should not rely solely on this material to determine the products or services to introduce to clients, as all information included herein may not be suitable for every client, and there may be eligibility requirements for certain products. Investment Professionals are responsible for determining the suitability of products and services recommended to clients and for confirming that clients meet any applicable eligibility requirements. Products and services discussed herein may not be offered by every division within Deutsche Bank Asset & Wealth Management. The material was not produced, reviewed or edited by the Research Department of Deutsche Bank. The trading or investment idea is not necessarily consistent with trading and investment ideas provided by other persons within Deutsche Bank Securities Inc. or with the views of the Research Department of Deutsche Bank. Investing in financial markets involves a substantial degree of risk. There can be no assurance that the trade ideas described herein will achieve positive results. Investment losses may occur from time to time. Depending on the strategy, investors may be exposed to significant risk and unlimited loss potential. No guarantee or representation is made that any investment idea, including, without limitation, the investment objective, diversification strategy, or risk monitoring goal, will be successful, and investment results may vary substantially over time. Nothing herein is intended to imply that any investment may be considered "conservative", "safe", "risk free" or "risk averse". Economic, market, and other conditions could also cause the investments to alter their investment objectives, guidelines, and restrictions. No representation is made that it is accurate or complete or that any returns indicated will be achieved. Changes to assumptions may have a material impact on any returns detailed. Past performance is not indicative of future returns. Price and availability are subject to change without notice. Additional information is available upon request. 020245T 021215 Deutsche Asset & Wealth Management 76 CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0075532 CONFIDENTIAL SDNY_GM_00221716 EFTA01378363