EFTA Document EFTA01452555

— Forwarded by Tata Smit 0214/2014 12:09 PM -- From: Taste Sm To: Jeffrey Epsteki 4eevecationeamail.com Cc. Paul Morris Date 02,14/2014 10:45AM Subject. Re: Fwd: percentages get a read from your team IC] Classification: Confidential Understood Jeffrey. Implementation: Today/Mon (and Tuesday in US due to holiday Mon) start with 1/4 positions (within that 50mm allocation) across the direct equities (healthcare, energy, financials, tech, Japan, Europe) Topix TRS - add $3.5mm usd notional via swap and indirect hedge = gives you capital efficient leverage (financing 3mL+70bps, —20% initial collateral). OR buy another $1mm of your DXJ (that position can represent your delta one allocation). Topix and DXJ charts below for your convenience. Today or Tuesday: Barrier notes - if we can achieve comparable terms (vol has come in) on that eurostoxx50/russell 2k (13mo, worst of >10% contingent minimum return, uncapped upside, 80% barrier) = consider 2.5mm (leaves 2.5mm to put to work in similar return profiles in europe and US) FX = opportunistic Let me know if this is implementation strategy works, or how you'd prefer. Thanks! Tazia TOPIX lyr Price History CONFIDENTIAL — PURSUANT TO FED. R. GRIM. P. 6(e) DB-SDNY-0 109665 CONFIDENTIAL SDNY_GM_00255849 EFTA01452555