From: Richard Kahn

From: Richard Kahn To: Jeffrey Epstein <[email protected]> Subject: Fwd: EURUSD Indicative Pricing [C] Date: Fri, 04 Mar 2016 14:56:26 +0000 not sure if you liked pricing for trade however pricing should be a lot better this am as EUR USD 1.1025 at 9:53am shall i request repricing? also shall i ask for pricing until to 12-31-2016 to include any craziness that may occur around election? please advise reprice or hold thank you Richard Kahn HBRK Associates Inc. 575 Lexington Avenue 4th Floor N Begin forwarded message: From: Vahe Stepanian Subject: RE: EURUSD indicative Pricing [C] Date: March 3, 2016 at 1:22:12 PM EST To: Richard Kahn < Cc: Jeffrey Epstein <[email protected]> Daniel Sabba < >, Ariane Dwyer < k Paul Morris < Classification: Confidential Yes, the strikes included in your summary below are accurate. Please disregard the headers. From: Richard Kahn [mailto: Sent: Thursday, March 03, 2016 1:18 PM To: Vahe Stepanian Cc: Jeffrey Epstein; Daniel Sabba; Mane Dwyer; Paul Morris Subject: Re: EURUSD Indicative Pricing [C] thank you for sending revised as pricing as improved nicely.. please clarify below as i believe your summary headers have not been updated from original email.. new pricing 1.12 / 1.075 new pricing 1.13 / 1.0675 Richard Kahn HBRK Associates Inc. EFTA00832606 575 Lexington Avenue 4th Floor New York, NY 10022 On Mar 3, 2016, at 1:12 PM, Vahe Stepanian A > wrote: Classification: Confidential Jeffrey — please find refreshed indicative levels below per Rich's request. Thank you, Vahe Selling 1.12 EUR Call/Buying 1.0675 EUR Put 6 months expiry Spot Ref 1.0938 Leg 1: European Option Call SOFL sells European EUR Call on EUR/USD Strike: 1.12 Notional: EUR 100,000,000 Expiry: Tue 06-Sep-2016 Settlement: Thu 08-Sep-2016 Leg 2: European Option Put SOFL buys European EUR Put on EUR/USD Strike: 1.075 Notional: EUR 100,000,000 Expiry: Tue 06-Sep-2016 Settlement: Thu 08-Sep-2016 Net Premium: SOFL Pays USD 0 Selling 1.13 Call Buying 1.056 EUR Put 6 month expiry Spot Ref 1.0938 Leg 1: European Option Call SOFL sells European EUR Call on EUR/USD Strike: 1.13 Notional: EUR 100,000,000 Expiry: Tue 06-Sep-2016 Settlement: Thu 08-Sep-2016 Leg 2: European Option Put SOFL buys European EUR Put on EUR/USD Strike: 1.0675 EFTA00832607 Notional: EUR 100,000,000 Expiry: Tue 06-Sep-2016 Settlement: Thu 08-Sep-2016 Net Premium: SOFL Pays USD 0 From: Richard Kahn [mailto: Sent: Thursday, March 03, 2016 12:21 PM To: Vahe Stepanian Subject: Re: EURUSD Indicative Pricing [C] thank you can you please reprice and resend with euro now at 1.0939 as of 12:20pm thanks Richard Kahn HBRK Associates Inc. 575 Lexington Avenue 4th Floor New York. NY 10022 On Mar 3, 2016, at 9:33 AM, Vahe Stepanian < > wrote: Classification: Confidential Jeffrey — please find indicative EURUSD pricing below per my conversation with Rich. Please let us know which strike like to execute and we will follow up with live levels. Thank you, Vahe Selling 1.12 EUR Call/Buying 1.0675 EUR Put 6 months expiry Spot Ref = 1.0904 European Option Call SOFL sells European EUR Call on EUR/USD Strike: 1.12 Notional: EUR 100,000,000 Expiry: Tue 06-Sep-2016 Settlement: Thu 08-Sep-2016 Leg 2: European Option Put SOFL buys European EUR Put on EUR/USD Strike: 1.0675 EFTA00832608 Notional: EUR 100,000,000 Expiry: Tue 06-Sep-2016 Settlement: Thu 08-Sep-2016 Net Premium: SOFL Pays USD 0 Selling 1.13 Call Buying 1.056 EUR Put 6 month expiry Spot ref = 1.0907 Leg 1: European Option Call SOFL sells European EUR Call on EUR/USD Strike: 1.13 Notional: EUR 100,000,000 Expiry: Tue 06-Sep-2016 Settlement: Thu 08-Sep-2016 Leg 2: European Option Put SOFL buys European EUR Put on EUR/USD Strike: 1.056 Notional: EUR 100,000,000 Expiry: Tue 06-Sep-2016 Settlement: Thu 08-Sep-2016 Net Premium: SOFL Pays USD 0 Vahe Stepanian Key Client Partners Deutsche Bank Securities Inc. 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