From: Tazia Smith <I

From: Tazia Smith <I To: [email protected] Cc: Nav Gu to , Paul Morris , Vahe Stepanian , Vinit Sahni Subject: BRL March note matured [C] Date: Fri, 21 Mar 2014 15:08:00 +0000 Inline-Images: unnamed; unnamed(I); unnamed(2); unnamed(3) Classification: Confidential Jeffrey - BRL March note final value of 2.342. Redemption value will be 806.259239 per bond, or $806,259.239, down $193 740 76 on your position. Will settle 3/27. Source: HSBC Structured Solutions, 3/21/14 BZFXPTAX 2.34140 As Of 03/20/14 Reals/Dollar Brazil USD Avg Rate Central Bank Ptax BZFXPTAX Index CI:Z:12013 /D 0 9s) SaveAs 03120/2014 3D 1M 6M YTD Sid Price Li ax 96) Actionne R) Edit - 98) Table El Compare Ma. Daily Y S et Seculty/St4/ Line Chart rI No Lower Char + Track • Bid Price 2.34140 T High on 08/22/13 2.44510 -9- Average 2.24054 1 Low on 04/11/13 1.97310 Annotate 'A News Q Zoom M :vent O Mar Jun Sep Dec Mar 2013 2014 0-2.40000 GEM 9-2.30000 t.25620 I-2.20000 I-2.10000 I-2.00000 From: To: [email protected], Cc: Paul Morris. Vinit Sahn Nay Gupta/db// Date: 03(17/2014 03:44 PM Subject: First BRL note valuation date 3/20. poised to settle beyond barrier (down —20%) (C) ahe Stepanian EFTA01192015 BRL BGN Curnc 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 $1mm notional. Initial strike: 1.9619 15% european barrier: 2.2562 Current USDBRL spot: 2.3505 Your second note has a final valuation of 4/14. Initial strike 2.0035, european barrier =2.3040. Recall that the payout on these was as follows: a) make 28.5% if BRL is up more than 3% vs. USD at maturity, b) make 5% if BRL is up between 0-3% vs USD, c) get your principal down less than 15% vs. USD, d) loose 1 for 1 if BRL is down more than 15% vs USD at maturity (max loss 100%) BRL 2.3505 -.0099 BGN 2.3500/2.3511 BGN At 15:19 Op 2.3447 Hi 2.3566 Lo 2.3433 Close 2.3467 Value 03/19/14 9$ aS ve As 9$ Actions -' --Vrtifrzi - 9$ Table art 10 30 1M 6m YTD lY SY Kix Daily • Security/Study st Event 0 !Ca l I DI Comps re !XV. Avgs === No Lower Chart 03/13/2013 03/17/2014 + Track .! Annotate News 0 Zoom • Last Price 2.3505 ill T High on 08/21/13 2.4543 -9- Average 2.2376 I Low on 04112/13 1.9695 t‘ Mar Jun Sep .-2.4000 2.3505 .-2.3000 - 2.2562 .-2.2000 i-2.1000 .-2.0000 Dec Mar 2013 2014 Used with permission of Bloomberg Finance LP Tazia Smith Director F Key Client Partners - US EFTA01192016 Deutsche Bank Securities Inc Deutsche Asset 8 Wealth Management 345 Park Avenue, 26th Floor New York, NY 10154 Tel. +1 (212)454-2889 Fax +1 (646)257-3131 Mobile +1 917 327-4107 Email Pan-to-J/4-u Peiftrent 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. EFTA01192017