From: Daniel Sabba

From: Daniel Sabba To: jeevacationggmail.com Subject: [C] Date: Tue, 13 Jan 2015 16:55:12 +0000 Inline-Images: unnamed; unnamed(1) Classification: Confidential Hi Jeffrey - I gave you a call to follow-up on our discussion. I am at See below a short term time series of Brazil CDS and of the short vol crude index we discussed. Brazil 5 CDS GRAB BRAZIL CDS USD SR 01/14/2014 1D 30 i l 6M YTD lY 5? Max Daily 95) Save As... 961 Actions- 97) Edit - 910 Table 01/13/2015 Last Price Line Cyrpare o■ Last Price 205.000 T High on 12/15/14 243.000 -t- Average 163.693 Low on 09/02/14 125.000 Historical Line Chart No Lower Chart f:!: Security/Study M Event J.USD P.240 Mar Jun Sep Dec 2014 2015 LW) ►180 ►160 b• 140 0 Australia 61 2 9777 8600 Brazil 5511 2395 9000 Europe 44 20 7330 7500 Germany 49 69 9204 1210 Hong Kong 852 2977 6000 Japan 81 3 3201 8900 Singapore 65 6212 1000 U.S. 1 212 318 2000 Copyright 2015 Bloomberg Finance SH 839901 11329-48-0 13-Jan-I5 11.52:23 EST GMT-5:00 Short WTI vol index EFTA01201886 GRAB DBGIA'SV2 Index 01/13/2014 10 3D 1H 611 'lTD Sy 5Y Hax Daily '95) Save As... 90 Actions- 97) Edit - 9S Table 01/13/2015 Mid Line PI Line oil Mid Price 256.3495 - T High on 07/08/14 298.3815 -9- Average 282.0639 -1 Low on 12/26/14 250.5192 Mar 3DT:are ' Historical Line Chart I IN° Lower Chart • Security/Study USD Event 9.• 300 Jun Sep Dec 2014 I 201E 290 280 270 260 250 Australia 61 2 9777 8600 Brazil 5511 2395 9000 Europe 44 20 7330 7500 Germany 49 69 9204 1210 Hong Kong 852 2977 6000 Japan 81 3 3201 8900 Singapore 65 6212 1000 U.S. 1 212 318 2000 Copyright 2015 Bloomberg Finance SN 839901 H329-48-1 13-Jan-15 11:54:05 EST OT-5:00 M Daniel Sabba Key Client Partners Deutsche Bank Securities Inc. Tel. Mobile 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. EFTA01201887