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sd-10-EFTA01387671Dept. of JusticeOther

EFTA Document EFTA01387671

From: Stewart Oldfield Sent: 1/24/2018 4:10:35 PM To: Vahe Stepanian CC: Martin Zeman Subject: Re: Have you spoken to Paul Barrett about Harvest? [I) I know harvest very well. Worked with most of those guys at CS and my group did the work when we bought their predecessor firm. I agree - nice overlay to broad portfolio. Stewart Oldfield, CFA, CAIA Director Deutsche Bank Trust Company Americas Deutsche Bank Wealth Management 345 Park Avenue, New York, NY 10154 Securities offered t

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sd-10-EFTA01387671
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From: Stewart Oldfield Sent: 1/24/2018 4:10:35 PM To: Vahe Stepanian CC: Martin Zeman Subject: Re: Have you spoken to Paul Barrett about Harvest? [I) I know harvest very well. Worked with most of those guys at CS and my group did the work when we bought their predecessor firm. I agree - nice overlay to broad portfolio. Stewart Oldfield, CFA, CAIA Director Deutsche Bank Trust Company Americas Deutsche Bank Wealth Management 345 Park Avenue, New York, NY 10154 Securities offered t

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From: Stewart Oldfield Sent: 1/24/2018 4:10:35 PM To: Vahe Stepanian CC: Martin Zeman Subject: Re: Have you spoken to Paul Barrett about Harvest? [I) I know harvest very well. Worked with most of those guys at CS and my group did the work when we bought their predecessor firm. I agree - nice overlay to broad portfolio. Stewart Oldfield, CFA, CAIA Director Deutsche Bank Trust Company Americas Deutsche Bank Wealth Management 345 Park Avenue, New York, NY 10154 Securities offered through Deutsche Bank Securities Inc. On Jan 24, 2018, at 3:59 PM, Vahe Stepanian wrote: Classification: For internal use only Yah, think it makes sense considering he already has assets here and would easily understand the strategy. Had a call this morning with a big family office (allocator type) and thought the strategy makes sense + they did a good job. From: Stewart Oldfield Sent: Wednesday, January 24, 2018 3:53 PM To: Vahe Stepania Cc: Martin Zeman Subject: Re: Have you spoken to Paul Barrett about Harvest? [I] Yes. Need to follow up on it. Stewart Oldfield, CFA, CAIA Director Deutsche Bank Trust Company Americas Deutsche Bank Wealth Management 345 Park Avenue, New York, NY 10154 Securities offered through Deutsche Bank Securities Inc. On Jan 24, 2018, at 3:49 PM, Vahe Stepanian wrote: CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0090735 CONFIDENTIAL SDNY_GM_00236919 EFTA01387671

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From: Vahe Stepanian Sent: 1/24/2018 5:17:56 PM To: Stewart 0ldfiel CC: Martin Zeman [ Subject: RE: Have you spoken to Paul Barrett about Harvest? [II Classification: For internal use only Yep, figured because they spun out of CS. Let's follow up with him when you're back. From: Stewart Oldfield Sent: Wednesday, January 24, 2018 4:11 PM To: Vahe Stepanian Cc: Martin Zeman < Subject: Re: Have you spoken to Paul Barrett about Harvest? [II I know harvest very well. Worked with most

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Subject: Re: Have you spoken to Paul Barrett about Harvest? [I] From: Stewart Oldfield e > Date: Wed, 24 Jan 2018 16:10:35 -0500 To: Vahe Stepanian Cc: Martin Zeman I know harvest very well. Worked with most of those guys at CS and my group did the work when we bought their predecessor firm. I agree - nice overlay to broad portfolio. Stewart Oldfield, CFA, CAIA Director Deutsche Deutsche 345 Park Tel. Mobi Email ■ Bank Trust Company Americas Bank Wealth Management Avenue, New Y

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Subject: RE: Launched: [13.0]% p.a. Callable Yield Note with Contingent Coupon [I] From: Martin Zeman < Date: Wed, 07 Feb 2018 17:46:48 -0500 To: Stewart Oldfield Classification: For internal use only Yeah, let's talk tomorrow with Mike Raphael on the line. From: Stewart Oldfield Sent: Wednesday, February 07, 2018 5:18 PM To: Martin Zeman Subject: FW: Launched: [13.0]% p.a. Callable Yield Note with Contingent Coupon Maybe better to have a call to discuss. I'm happy to be on that. If

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Subject: Paul -> Offering Launched: At least [12.001% p.a. Callable Yield Note with Contingent Coupon From: Martin Zeman < la> Date: Fri, 12 Oct 2018 09:33:35 -0400 To: "Paul Barrett (Ma" < II> Cc: Stewart Oldfield >, Alan Brody Davide-A Sferrazza Paul, We are launching the below note next Wednesday. Do you have any interest to join? Happy to get on a call and walk through the details... We are launching a 2 year Callable Yield Note (CYN) which offers investors at least [12.01% Cont

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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: Have you spoken to Paul Barrett about Harvest? [I] From: Stewart Oldfield e > Date: Wed, 24 Jan 2018 15:52:33 -0500 To: Vahe Stepanian Cc: Martin Zeman Yes. Need to follow up on it. Stewart Oldfield, CFA, CAIA Director Deutsche Deutsche 345 Park Tel. Mobile Email Bank Trust Company Americas Bank Wealth Management Avenue, New York, NY 10154 Securities offered through Deutsche Bank Securities Inc. On Jan 24, 2018, at 3:49 PM, Vahe Stepanian <O> wrote: > Classificat

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