EFTA01752428

To: Cc: anail.com Vahe Stepanian < Subject: BRL Notes m From: Tazia Smith Sent: Tuesday, Novem r PM Attachment Attachment Classification: Confidential Jeffrey - You're long 1mm USD each of BRL step up notes in Southern Trust from JP. The notes have a 15% barrier and BRL is presently down —17% vs. USD from your initial strike. The notes are marking down more than 20%. Barrier is European. Final valuation date on the notes are 3/20/14 and 4114/14. Posting you and would like to get your view given the move and mark-to-market (vs. your -10% rule). Speak with you soon, Tazia Smith Director I Key Client Patios • US Deutsche Bank Securities Inc Deutsche Asset & Wealth Management 345 Park Avenue. 26th Floor Nev York. NY 10154 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. EFTA_R1_00051145 EFTA01752428