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sd-10-EFTA01365135Dept. of JusticeOther

EFTA Document EFTA01365135

From: Vahe Stepanian Sent: 7/12/2017 4:21:06 PM To: Chris Maxmin CC: Stewart Oldfield Subject: RMS [II Classification: For Internal use only Chris — can you please confirm that RMS SOFL is good to buy EURUSD calls? Thank you, Vahe Vahe Stepanian Key Client Partners Deutsche Bank Securities Inc. Tel. Mobile Email KCP products and services are intended and available only for persons who are sophisticated institutional investors within the meaning of the FINRA Rule 4512(C)(3).

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Dept. of Justice
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sd-10-EFTA01365135
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From: Vahe Stepanian Sent: 7/12/2017 4:21:06 PM To: Chris Maxmin CC: Stewart Oldfield Subject: RMS [II Classification: For Internal use only Chris — can you please confirm that RMS SOFL is good to buy EURUSD calls? Thank you, Vahe Vahe Stepanian Key Client Partners Deutsche Bank Securities Inc. Tel. Mobile Email KCP products and services are intended and available only for persons who are sophisticated institutional investors within the meaning of the FINRA Rule 4512(C)(3).

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EFTA Disclosure
Text extracted via OCR from the original document. May contain errors from the scanning process.
From: Vahe Stepanian Sent: 7/12/2017 4:21:06 PM To: Chris Maxmin CC: Stewart Oldfield Subject: RMS [II Classification: For Internal use only Chris — can you please confirm that RMS SOFL is good to buy EURUSD calls? Thank you, Vahe Vahe Stepanian Key Client Partners Deutsche Bank Securities Inc. Tel. Mobile Email KCP products and services are intended and available only for persons who are sophisticated institutional investors within the meaning of the FINRA Rule 4512(C)(3). and who are capable of evaluating the strategies, characteristics and investment risks of. and exercising independent judgment in evaluating, the ideas and products discussed herein. Trades and transactions are subject to relevant internal approvals of DBSI or its affiliates prior to execution, and the execution of any transaction or idea discussed herein is conditional on your becoming a client of Deutsche Bank. Key Client Partners (KCP) products. investment ideas and solutions and related matters discussed herein are provided for discussion purposes oNy, and strictly on a non-advisory basis. The KCP Americas desk does not provide investment advice. The information set forth herein is confidential and personal to you and is being presented for your information and for discussion purposes only. Any reproduction and/or redistribution thereof (in whole or in part) or disclosure of its content without our written consent is strictly forbidden. This communication does not create any legally binding obligation on the pad of DBSI or any of its affiliates. CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0055786 CONFIDENTIAL SDNY_GM_00201970 EFTA01365135

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Subject: RE: RIN follow up From: Vahe Stepanian Date: Fri, 20 Apr 2018 14:16:02 -0400 To: Paul Barrett Cc: Stewart Oldfield Martin Zeman No problem, happy to help. The team assumes a 50bps p.a. default rate, and I would point you to page 29 of the book to support this point. Also worth looking at the scenario analysis on pg. 40 — think scenarios 1-7 are particularly relevant because the 50bp issuance costs are in line with RIN I (vs. 2% for a BSL). Thank you, Vahe From: Paul Barrett

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Subject: RE: DB - Harvest Collateral Yield Enhancement Strategy [I] [C] From: Andrew King ‹ > Date: Mon, 26 Feb 2018 15:58:06 -0500 To: Stewart Oldfield < => I checked with Olga last week — I'll follow up with her now. From: Stewart Oldfield Sent: Monday, Februar 26, 2018 3:57 PM To: Andrew King < Subject: FW: DB - Harvest Collateral Yield Enhancement Strategy [I] [C] Did we ever get anything on this? From: Vahe Stepanian Sent: Thursday, February 22, 2018 4:41 PM To: Andrew King < ;

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