From: Tazia Smith

From: Tazia Smith To: [email protected] Cc: Paul Morris Subject: Re: Hard Asset Put [C] Date: Thu, 11 Sep 2014 20:29:32 +0000 Inline-Images: unnamed; unnamed(1) >, Classification: Confidential thank you, we'll coordinate with Leslie. From: "affray E. <[email protected]> To: Tazia Smith/db/dbcom@DBAMERICAS. Dale: 09/11/2014 04:23 PM Subject: Re: Hard Asset Put [CI tomorw On Thu, Sep 11, 2014 at 4:21 PM, Tazia Smith < In. wrote: Classification: Confidential Jeffrey - We wanted to get your feedback on a structure that we've used to convert an existing liability into an asset for a qualified client - specifically premium collected by a client for selling a put on an underlying hard asset. In this specific case, it is the property in France that we talked about, but a transportation asset was the underlier of a prior solution and we could foresee this applying to a variety of leveragable assets (art, etc). I know Paul already discussed this with you. This solution potentially works for small subset of qualified clients (qualified from a sophistication and liquidity perspective). Would like to discuss the general structure further with you - will directly link to trader on this or prior transaction. When works to through this together and get your thoughts? Let us know, Tazia & Paul EFTA00710985 Tazia Smith Director I Key Client Partners - US DB Secunbes Inc Deutsche Asset & Wealth Management 345 Park Avenue. 10154-0004 New York. NY. USA Tel. Fax Mobile Email FR7 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 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. EFTA00710986