EFTA01453675

Classification: For internal use only Thanks Tazia. A couple of comments; In the title and in the first paragraph you have inverted "Capital Invested". Re the chart of the us divs performance; I don't know whether compliance would allow you to just choose an arbitrary time frame. If that is the total time-frame available then that is okay. In the line; "10 total indices in the CROCI family: us, UK, Japan, Germany, Euro, world, world Ex-Japan, Sectors III, Global Dividends and US Dividends" please remove "total" and put "principal". Thanks, Joe Kind regards, Joe Hall (Embedded image moved to file: pic28127.gif) Joe Hall CANS Investments Distributors, Inc. Deutsche Asset & wealth Management 345 Park Avenue, 10154-0004 New York, NY, USA (Embedded image moved to file: pic10363.gif) From: Tazia smith To: Joe Hall Date: 04/08/2014 10:25 AM subject: Joe - this is my draft. still awaiting pricing [I] Classification: For internal use only Subject: Consider: 510-15mm Total Return Swap on Cash Return On Invested Capital (CROCI), L+65bps Good Morning Jeffrey - Globally you are seeing the rotation from high-beta, small cap and growth stocks into large-cap value. This is inline with your early call for us to pull out a concentrated five names. Instead of those single stocks, consider a 510-15mm total return swap on Cash Return On Invested Capital (CROCI). Specifically, the CROCI sub-index focused on dividend paying/dividend-growing US equities. I've included my colleague, Joe Hall, who sits on the CROCI team and will CONFIDENTIAL — PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0 111429 CONFIDENTIAL SDNY_GM_00257613 EFTA01453675