From: Paul Morris

From: Paul Morris To: [email protected] Subject: Fw: INTC buy-and-write [C] Date: Tue, 26 Nov 2013 19:49:23 +0000 Attachments: 1NTC_11.22.13.pdf Inline-Images: unnamed; unnamed(1) > Classification: Confidential you're right, yes i get it, Paul Morris Managing Director Deutsche Bank Private Bank 345 Park Avenue, 27th Floor New York, NY 10154 Offic Cell: -- Forwarded by Paul Morris/db/dbcom on 11+26/2013 02:47 PM From: Tazia Smith To: [email protected]. Cc: Paul Morris. Vahe Stepaniangligmlamim Date: 11/22/2013 10:25AM Subject: INTO buy-and-write IC] Classification: Confidential Not fancy - INTC, down over 4.5% following a self-critical Analyst Day. DB is one of the only analysts across the Street defending the name - in fact he raised his price target to 28 from 26. In part, he thinks management is being conservative and setting up for outperformance., $2 eps for 2014E (current 12x vs large cap semi peers at 16x) INTC spot is $24.09 Dec 23 calls are —$1.21 bid Dec 24 calls are —$0.51 bid INTC has a 3.7% current dividend yield, goes ex 215, reports 1/16 (Jan expiry is 1/18) Tazia Smith Director I Key Client Partners - US Deutsche Bank Securities Inc Deutsche Asset & Wealth Management 345 Park Avenue, 26th Floor New York, NY 10154 EFTA00977104 Fa Tel. Email 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. EFTA00977105