EFTA Document EFTA01419062

Subject: RE: Richard Kahn / Epstein Total Return Swap [I] From: Daniel Sabba ‹ > Date: Mon, 27 Jun 2016 12:16:06 -0400 To: Vahe Stepanian Andrew King Cc: Stewart Oldfield Joseph Dursi <[email protected]> Classification: For internal use only we reached out to CRM on the back of our chat with Stewart and will let you know. From: Vahe Stepanian Sent: Monday, June 27, 2016 11:36 AM To: Andrew King Cc: Stewart Oldfield; Daniel Sabba; Joseph Dursi Subject: RE: Richard Kahn / Epstein Total Return Swap [I] Classification: For internal use only This is a CRM question, will CC you on email to them. From: Andrew King Sent: Monday, June 27, 2016 11:27 AM To: Vahe Stepanian Cc: Stewart Oldfield; Daniel Sabba; Joseph Dursi Subject: RE: Richard Kahn / Epstein Total Return Swap [I] Classification: For internal use only Vahe, I've attached the basket we put together with the help of STG. Would you mind working with Cap. Markets to determine the margin requirement on the swap (Richard would like to keep it below 30% in order to get 3x leverage), EFTA01419062 and the expected swap rate? Please let us know if you have any questions. From: Vahe Stepanian Sent: Friday, June 24, 2016 10:12 AM To: Andrew King Cc: Stewart Oldfield; Daniel Sabba Subject: RE: Richard Kahn / Epstein Total Return Swap [I] Classification: For internal use only Interesting. Can you send over a proposed basket, tenor, etc. and I'll loop in the right folks? Thanks, Vahe From: Andrew King Sent: Friday, June 24, 2016 10:04 AM To: Vahe Stepanian Cc: Stewart Oldfield Subject: Richard Kahn / Epstein Total Return Swap [I] Classification: For internal use only Vahe, EFTA01419063 Stew spoke to Richard yesterday who would like to move forward on a $20MM total return swap on a basket of preferreds. We're going to put a basket together from the list of preferreds we originally provided, but I thought I'd check to see if Capital Markets might also be able to put together the basket for the swap. Also, what are next steps to provide indicative terms to Richard? Thanks in advance. Best regards, Andrew King fcid:[email protected] Andrew King, CFA Vice President I Investment Solutions Group Deutsche Deutsche 345 Park Tel. Fax Mobile Email Bank Securities Inc. Asset & Wealth Management Avenue. New York, NY 10154 Icid:[email protected] EFTA01419064