EFTA Document EFTA01432471

Subject: RE: Richard Kahn / Epstein Total Return Swap [I] From: Andrew King ‹ > Date: Mon, 27 Jun 2016 11:26:39 -0400 To: Vahe Stepanian Cc: Stewart Oldfield Daniel Sabba Joseph Dursi Classification: For internal use only Vahe, I've attached the basket we put together with the help mind working with Cap. Markets to determine the margin swap (Richard would like to keep it below 30% in order and the expected swap rate? Please let us know if you have any questions. of STG. Would you requirement on the to get 3x leverage), 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 EFTA01432471 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, 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 Bank Securities Inc. Deutsche Asset & Wealth Management 345 Park Avenue, New York, NY 10154 Tel. EFTA01432472 Fax Mobil Email {cid:[email protected]} EFTA01432473