EFTA Document EFTA01451462

Email lane smilhdbdb corn <mime-attachment.gif> From. Jeffrey Epstein leeyacabongkimail.com> To. Tazia Smah/db/dbcom@DBAMERICAS, Date. 01/17/2014 11:15AM Subject Re: Trade Idea: Long 3-Month USDCAD KI Call Spread -1.10 with a 1.13 sold call knocking-in only it USDCAD trades to 1.17 II] i like it size? On Fri, Jan 17, 2014 at 11:48 AM, Tazia Smith <[email protected]> wrote: Classification: For internal use only Jeffrey - Our US FX traders agree/like Nav's call here. The 3-month 1.10/1.13 USDCAD, 1.17 knock-in call spread (where that 1.13 short call only exists if USDCAD goes to 1.17 during the life of the trade) described below is currently offered -1.1% (Source: DB FX Sales, 1/17/14). Please see the investment thesis below and let us know your thoughts. Best, Tazia Indicative levels only. Subject to market movement. Source: DB Key Client Partners London, as of 1/17/14. --- Forwarded by Tazia Smittildb/dbcom on 01/1712014 10.35 AM --- From' Nay Gupta/db/dbcom@DBEMEA To' kcp-emeatblist.db.com. loopelistdb.cont Date 01/17/2014 07:35 AM Subject: I like buying USDCAD calls to position for further weakness in CAD. Spot FX it currerdy 1.035. ju Classification: For internal use only I like USDCAD call options to position for further weakness in CAD. Spot FX is currently 1.095 Over the course of the past week the interest rate curve has started pricing in a small amount of rate cuts - this development is significant and clearly a beginning of a pain trade. I believe it can go further. Lower CAD rates from here will drive USD CAD higher. CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0 108080 CONFIDENTIAL SDNY_GM_00254264 EFTA01451462