EFTA01456508

From: Daniel Sabba Sent: 1/28/2015 9:54:11 AM To: jeffrey E. [jeeyacation@ mail corn] CC: Vahe Ste anian Paul Morris Richard Kahn Subject: Coned and GE through TM (C] Classification: Confidential Jeffrey, Per Rich's suggestion, we priced long TRSs for GE and ConEd (without the sale of a call option). We could provide the same financing terms on a $20mm notional equivalent (1m1+75bps, with $0.03 commissions in and out). The IA for these names would be 20%. As discussed, you could use equities at a 50% haircut as this IA. GE and ED have had high dividend history (GE has a 12m yield of 3.67% and ED, 3.51%). Regards, Daniel Daniel Sabba Key Client Partners Deutsche Bank Securities Inc. Tel. Mobile Email This communication may contain confidential and/or privileged information. If you are not the intended recipient (or have received this communication in error) please notify the sender immediately and destroy this communication. Any unauthorized copying, disclosure or distribution of the material in this communication is strictly forbidden. Deutsche Bank does not render legal or tax advice, and the information contained in this communication should not be regarded as such. CONFIDENTIAL - PURSUANT TO FED. R. GRIM. P. 6(e) DB-SDNY-0 115723 CONFIDENTIAL SDNY_GM_00261907 EFTA01456508