EFTA Document EFTA01452455

ADP report came in light this morning at +175k v 185k cons, as you saw, payrolls catalyst on Friday. For US exposure on pullback and jump-up in volatility, consider (proposed percentages = 5.0): S&P Current: 8O%: 1742 1394 Russell 2000 Current: 1086 80%: 868 13mo Contingent Minimum Return Worst-of Note (S&P 500 and Russell 2000): WoF SPX/RTY 8% Cont Min Return 80% Barrier Daily obs. 29.30% Cap Indicative levels only, subject to market movement, source: DB AWM Structured Solutions