EFTA Document EFTA01457650

Maturity: 18 months (callable after 3 months) Underlying: Lesser of: Apple Inc (AAPL) Bank of New York Mellon (BK) Callable: Quarterly — at issuer's discretion Contingent Coupon: 10.00% p.a. subject to coupon barrier Observed and paid quarterly Coupon Barrier: Principal Barrier: 75% of initial strike observed quarterly 75% of initial strike observed at maturity only Description: The investor receives 2.50% per quarter (10% p.a.) if all (2) underlying stocks are above the coupon barrier on the quarterly observation date. The note is callable at the discretion of the issuer on each quarterly observation date. If not redeemed early, at maturity, the principal is at risk if one or more of the underlying stocks has a final strike below their principal barrier, with the investor being exposed to the retum of the worst performing underlying stock. Settlement at termination can be either cash or physical. Looking forward to discussing, Daniel From: Ariane Dwyer Sent: Tuesday, June 02, 2015 9:24 AM To: [email protected]; Cc: Vahe Stepanian; Daniel Sa a; au orris Subject: RE: send to rich please [C] Classification: Confidential Good morning, Per your request, please find below the stocks with 6/1/15 close price, DB Global Market Research Rating and DB Global Market Research Target price. In addition please find attached DB Global Market Research Reports about the companies we cover. Please note these are independent equity research views. Company Ticker Price @ 6/1/15 Close DB Global Markets Research Rating DB Global Markets Research Target Retrophin RTRX $31.85" Buy $52 Orexigen Therapeutics OREX $4.91 No Coverage Akorn AKRX $46.25 Buy $55 Dish Networks DISH $72.07 Buy $105 Pioneer Natural Resources PXD $149.77 Hold $182 CONFIDENTIAL - PURSUANT TO FED. R. GRIM. P. 6(e) CONFIDENTIAL DB-SDNY-0 117280 SDNY_GM_00263464 EFTA01457650