From: Richard Kahn

From: Richard Kahn To: "Jeffrey E." <[email protected]> Subject: Re: Cnh trade [C] Date: Tue, 11 Aug 2015 14:16:54 +0000 just hung up with vahe he says our trade is a dollar put trade and with yuan depreciating and dollar appreciating the trade is actually going against us.. please advise thank you Richard Kahn HBRK Associates Inc. 575 Lexington Avenue 4th Floor New York, NY 10022 On Aug 11, 2015, at 10:15 AM, Jeffrey E. <[email protected]> wrote: I bought puts with the view that the yuan would collapse. not surethat if the put is struck at spot 61 and after collapse now selling for 635, how does it not have value. On Tue, Aug 11, 2015 at 8:10 AM, Paul Morris < Classification: Confidential ?? I'll check Paul Morris Managing Director Deutsche Bank Private Bank From: Jeffrey E. [mailto:jeevacS@g i com Sent: Tuesday, August 11, 2015 9:47 AM To: Paul Morris Subject: Fwd: Cnh trade [C] > wrote: EFTA00644823 Forwarded message From: Richard Kahn ..tj Date: Tue, Aug 11, 2015 at 7:03 AM Subject: Fwd: Cnh trade [C] To: Jeffrey Epstein <[email protected]> Sent from my iPhone Begin forwarded message: From: Vahe Stepanian Date: August 11, 2015 at 8:58:36 AM EDT To: Richard Kahn < >, Daniel Sabba Subject: RE: Cnh trade [C] Classification: Confidential Rich - we confirmed with our traders that the option currently does not have any value. Recall the trade details are as follows: TradeType EUR BuySell Client Buys Currencyl USD CP Put Notionall 75,000,000 Currency2 CNH Notional2 -462,000,000 Strike 6.1600 ZoneCut TK: 15:00 hours (Local time In Tokyo) ExpiryDate Wed 12 August 2015 SettlementDate Fri 14 August 2015 FixingReference SPOT Premium 273,000 PremiumTerms USD PremiumDate Thu 14 August 2014 Thank you, Vahe EFTA00644824 <image001.jpg> *Used with the permission of Bloomberg LP ----Original Message-----From: Richard Kahn imailto Sent: Tuesday, August 11, 2015 5:51 AM To: Daniel Sabba; Vahe Stepanian Subject: Cnh trade I know we have 2 days left. Please advise on pricing and market value on option based on current news. Thank you. Richard Kahn HBRK Associates Inc. 575 Lexington Avenue, 4th Floor New York, NY 10022 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. please note The information contained in this communication is confidential, may be attorney-client privileged, may constitute inside information, and is intended only for the use of the addressee. It is the property of JEE EFTA00644825 Unauthorized use, disclosure or copying of this communication or any part thereof is strictly prohibited and may be unlawful. If you have received this communication in error, please notify us immediately by return e-mail or by e-mail to jeevacation®gmail.com, and destroy this communication and all copies thereof, including all attachments. copyright -all rights reserved 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. please note The information contained in this communication is confidential, may be attorney-client privileged, may constitute inside information, and is intended only for the use of the addressee. It is the property of JEE Unauthorized use, disclosure or copying of this communication or any part thereof is strictly prohibited and may be unlawful. If you have received this communication in error, please notify us immediately by return e-mail or by e-mail to [email protected], and destroy this communication and all copies thereof, including all attachments. copyright -all rights reserved EFTA00644826