EFTA01456547

From: Daniel Sabba Sent: 1/30/2015 1:39:16 PM To: jeffrey E. CC: Paul Morris I ; Vahe Stepanian [ ]; Richard Kahn Subject: McDonalds Indications: long ly TRS + short 100% European call (CI Classification: Confidential Jeffrey, Please see below MCD 1y Vols — they are much lower than LNKD or TWTR. IA on this trade would be 25% of Notional. The indications below work for $smm notional. McDonalds ly 100% vol Southern Financial longs MCD through ly TRS: • SF pays 1mL+75bps to receive total return • $0.03 commission in and out, optional early termination applicable, monthly resets Southern Financial shorts MCD 1y 100% European calls: • DB bids 5.25% • Vol: 17% Regards, Daniel Daniel Sabba Key Client Partners Deutsche Bank Securities Inc. CONFIDENTIAL — PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0 115779 CONFIDENTIAL SDNY_GM_00261963 EFTA01456547