EFTA Document EFTA01433260

Subject: RE: Harvest Collateral Yield Enhancement Strategy [I] From: Cynthia Rodriguez ‹ > Date: Tue, 10 Oct 2017 17:18:41 -0400 To: Andrew King Stewart Oldfield Classification: For internal use only You should have access to both Barrett and Southern Financial. Let me know. Thanks. Kind regards, Cynthia Rodriguez {cid:[email protected]} Cynthia Rodriguez Assistant Vice President Deutsche Bank Trust Company Americas Deutsche Bank Wealth Management 345 Park Avenue, 24th Fl 10154-0004 New York, NY, USA Tel. Fax Email From: Andrew King Sent: Tuesday, October 10, 2017 5:13 PM To: Stewart Oldfield Cc: Cynthia Rodriguez Subject: RE: Harvest Collateral Yield Enhancement Strategy Thanks — I can't seem to find him. Cynthia, would you mind adding me to the relationship team? EFTA01433260 From: Stewart Oldfield Sent: Tuesday, October 10, 2017 5:09 PM To: Andrew King < a> Subject: RE: Harvest Collateral Yield Enhancement Strategy Yes. We would trade for Southern Financial in all likelihood though. I can share more details whenever you like From: Andrew King Sent: Tuesday, October 10, 2017 5:06 PM To: Stewart Oldfield Subject: RE: Harvest Collateral Yield Enhancement Strategy Is he in dbForce? From: Stewart Oldfield Sent: Tuesday, October 10 2017 4:47 PM To: Andrew King Subject: RE: Harvest Collateral Yield Enhancement Strategy Please send to Paul Barrett Thanks From: Andrew King Sent: Tuesda , October 10, 2017 4:44 PM To: Cc: Stewart Oldfield EFTA01433261 Subject: Harvest Collateral Yield Enhancement Strategy Steve, During your last meeting with Stew, you had discussed a managed option strategy that we were in the process of on-boarding to our platform: the Harvest Collateral Yield Enhancement Strategy (CYES). The strategy has now been launched, and I thought I would send more information for your review. As background, CYES is an overlay that seeks to exploit the volatility risk premium and time decay properties of options by actively managing a portfolio of short-dated index option spreads on the S&P 500 index. The strategy sells options to generate premium while purchasing further out of the money options to contain risk. In a disciplined manner, the strategy seeks to mitigate exposure to market directional risk by defensively adjusting positions in response to a large move or reducing exposure ahead of specific market events. The strategy enables an investor to add an incremental return stream to their existing portfolio, and the potential diversification benefit provided by the strategy's historically low correlation to equities. It requires no capital outlay and instead uses an investor's existing portfolio as collateral. The strategy is implemented through a separately managed account (SMA) with complete transparency and daily liquidity. Harvest is an established leader in managed option strategies. It was founded in April 2008 and has over $10BN in AUM. The strategy is managed by an experienced team of 15 investment professionals that have deep trading and portfolio management backgrounds and have demonstrated success through the global financial crisis and other market events. If you have any questions or would like to discuss further, please just let me know. There are risks associated with investing in this strategy, please see slide EFTA01433262 20 of the attached presentation for a summary of risks. Best regards, Andrew King fcid:[email protected] Andrew King, CFA Vice President I Investment Solutions Group Deutsche Bank Securities Inc. Deutsche Bank Wealth Management 345 Park Avenue, New York, NY 10154 Tel. Mobile Email fcid:[email protected] EFTA01433263