EFTA Document EFTA01423747

Subject: SF OTC trade on the books From: Stewart Oldfield ‹ > Date: Wed, 06 Feb 2019 12:10:25 -0500 To: Richard Kahn Bcc: Rich, Please see below. You have one outstanding OTC position on, which should be straightforward to unwind. Note that it is hedging a bond you own. Thanks From: Davide-A Sferrazza Sent: Wednesday, February 06, 2019 12:05 PM To: Stewart Oldfield Subject: Southern Financial OTC trade on the books Stew, Southern Financial LLC (account holds EUR 2.5mm face of COFP 4.407 08/06/19: TRADE DATE QUANTITY DESCRIPTION CUSIP MARKET PRICE (POSITION CCY) POSITION VALUE (POSITION CCY) FX RATE (TO USDE) POSITION VALUE EFTA01423747 (USDE) TYPE 2,500,000.0000 CASINO, GUICHARD-PERRACHON SA ISIN#FR0011301480 4.407% 08/06/19 REG DTD 08/03/12 N/C F1413LCN4 99.6200 2,490,500.00 1.14070 2,840,913.35 CORPORATE DEBT We executed a EURUSD forward (v/d 06 Aug 19) that is still on the books. MtM is $87k in favor of client, per latest valuation statement: Southern Financial LLC (account ) holds 100k shares of AAPL and some cash from dividends as collateral for OTC trades: TRADE DATE QUANTITY SYMBOL DESCRIPTION CUSIP EFTA01423748 MARKET PRICE (POSITION CCY) POSITION VALUE (POSITION CCY) FX RATE (TO USDE) POSITION VALUE (USDE) TYPE 100,000.0000 AAPL APPLE INC COM 037833100 175.4600 17,546,000.00 1.00000 17,546,000.00 EQUITY 73,091.3300 DBDA INSURED DEPOSITS PROGRAM PER980411 1.0000 73,091.33 1.00000 73,091.33 EFTA01423749 MONEY FUND Client would need to unwind the FX hedge, at which point we could consolidate the Southern Financial LLC assets (i.e. move assets from the collateral account to the main trading account). Regards, Davide fhttps://brandportal.intranet.db.com/img/modules/logogrey.gifl Davide Sferrazza Associate I Investments & Trading Deutsche Bank Securities Inc. Deutsche Bank Wealth Management 345 Park Avenue, 24th Floor New York NY 10154 USA Tel. Mobile Email Visit us: http://deutschewealth.com Institutional Wealth Partners fhttps://brandportal.intranet.db.com/img/modules/positive_impact_ENG.gifl IWP products and services are intended for and available only to sophisticated, experienced investors who qualify as "institutional accounts" under FINRA Rule 4512(c)(3), and are capable of evaluating the investment benefits and risks of, and exercising independent judgment in evaluating and determining whether to enter into, sophisticated trading strategies and financial transactions. Transactions are subject to relevant internal approvals of Deutsche Bank or its affiliates prior to execution, and no transaction, idea or opportunity discussed herein may be executed unless you are a client of Deutsche Bank and of the Institutional Wealth Partners group (IWP). EFTA01423750 Material herein regarding IWP products, investment ideas and solutions is for discussion purposes only. While brokerage services offered through the IWP Americas desk may include investment recommendations and brokerage advice, IWP does not provide investment management or investment advisory services, and private market opportunities and other products and services available through IWP are offered only on a non-advisory basis. This communication is confidential and personal to you, solely for your information and for discussion purposes only, and does not create any legally binding obligation. Reproduction or distribution of any material herein without our written consent is strictly forbidden. EFTA01423751