From: Vahe Stepanian

From: Vahe Stepanian To: Jeffrey Epstein <[email protected]> CC: Todd Stevens Stewart Oldfield Richard Kahn Subject: RE: Thanks/muni structure follow up Date: Wed, 01 Feb 2017 13:06:54 +0000 Attachments: MRG_Approved_Opportunties_in_the_Muni_Capital_Markets_January_2017.pdf Inline-Images: image001.png Jeffrey - attached is the muni book per Stew's email below. Please take a look at page 10, which outlines the A/B financing structure. Thank you, Vahe From: Stewart Oldfield Sent: Tuesday, January 31, 2017 4:56 PM To: [email protected]; Richard Kahn Cc: Todd Stevens; Vahe Stepanian Subject: Thanks/muni structure follow up Jeffrey, Thanks again for your time yesterday, Todd and I enjoyed the discussion. We owe you some follow up info on the levered muni structures. Vahe will send some written info tomorrow and we can follow up at your convenience with a call to discuss specifics. I sent Rich a separate email to discuss moving your cash balances to a higher yielding money market account in DB AG. Looking forward to connecting again soon. Thanks Stewart Oldfield, CFA, CAIA Director Deutsche Bank Trust Company Americas Deutsche Bank Wealth Management 345 Park Avenue. New York, NY 10154 Tel. Mobile blackberry Email Securities offered through Deutsche Bank Securities Inc. EFTA00669547 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. EFTA00669548