EFTA01452554

From: Tazia Smith Sent: 2/18/201412:49:55 PM To: [email protected] CC: Paul Morris Subject: Fw: percentages get a rea • om your team Classification: Confidential Jeffrey- Would love to an through details of implementation. Could you give me a call when you have a moment? Or d you're back in NY I can run tw and go through it In person. Market rally last week (and Japan overnight. +3%) makes for a less opportune entry points on some of your asset classes. Healthcare's on a tear: you may have seen, Actavis, which is in the Healthcare basket we're looking to buy, Is up -8% after announcing a bid for Forrest Labs. Tech and Energy look attractive for entry. Ex: XLK currently $36.15. XLK Jan15 36 risk reversal. coiect -$0.40 net premiten and create a synthetic long for $35.60 (giving up dividends, of course) Have details of tech and energy baskets we can review (single names and options) Best, Tazia EMMA }am 9.1 Healthcare 15 15 Energy Renaissance 15 15 Financials 22 12 -10 Tech 0 5 +5 S&P Barrier Noce 0 5 .5 52 52 LAMM Single Stocks 10 S -5 EuropeanCredit 0 10 i +20 Eureitta0( Barrier Nets 10 5 i .5 20 20 beta sink) Stocks 5 5 Toon Swap lor Delta 1) 7 7 Short Yen (premium) 13 s 4 25 17 FX•tecticatioremiumj 0 ior .10 Alternatives 8 ir , 105 100 CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0 109664 CONFIDENTIAL SDNY_GM_00255848 EFTA01452554