From: Tazia Smith

From: Tazia Smith To: "jeffrey epstein" leevacation®gmail.cotn> Cc: "Paul Morris" < Subject: Re: First BRL note valuation date 3/20, poised to settle beyond barrier (down —20%) [C] Date: Tue, 18 Mar 2014 00:51:14 +0000 I mportance: Normal Inline-Images: unnamed; unnamed(1) Classification: Confidential Mark-to-market on the note was $799k (down $201k) intrinsic value is $802k (down $198k), subject to moves in BRL for the next 3 days. Tazia Smith Director Key Client Partners - US Deutsche Bank Securities, Inc. Deutsche Asset & Wealth Management 345 Park Avenue - 26th Floor Ne Tel Mo From: Jeffrey Epstein [[email protected]] Sent: 03/17/2014 06:02 PM CST To: Tazia Smith Subject: Re: First BRL note valuation date 3/20, poised to settle beyond barrier (down —20%) [C] is there a number ??? On Mon, Mar 17, 2014 at 1:44 PM, Tazia Smith <a>. wrote: Classification: Confidential Jeffrey - First BRL note's valuation date is this Thursday, 3/20 (settles 3/27); presently down 19.8%, intrinsic. Your original investment was $1mm notional. Initial strike: 1.9619 15% european barrier: 2.2562 Current USDBRL spot: 2.3505 Your second note has a final valuation of 4/14. Initial strike 2.0035, european barrier =2.3040. EFTA00870594 Recall that the payout on these was as follows: a) make 28.5% if BRL is up more than 3% vs. USD at maturity, b) make 5% if BRL is up between 0- 3% vs USD, c) get your principal down less than 15% vs. USD, d) loose 1 for 1 if BRL is down more than 15% vs USD at maturity (max loss 100%) Used with permission of Bloomberg Finance LP Tazia Smith Director I Key Client Partners - US Deutsche Bank Securities Inc Deutsche Asset & Wealth Management 305 Park Avenue. 26th Floor Ne Tel. Fax 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. 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 Jeffrey Epstein 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 EFTA00870595 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. EFTA00870596