EFTA Document EFTA01465726

Subject: Re: AAL [C] From: Paul Morris Date: Wed, 11 Dec 2013 13:55:01 -0500 To: Vahe Stepanian Cc: Classification: Confidential thx, why don't you all try to get on the phone with him tomorrow with some of the other ideas Paul Morris Managing Director Deutsche Bank Private Bank From: Vahe Stepanian/db/dbcom@DBAMERICAS To: "jeffrey epstein" <[email protected]>, Cc: "Paul Morris" a, Date: 12/11/2013 12:19 PM Subject: Re: AAL [C] PROT0 Jeffrey, Done on AAL. To summarize, today you executed the following for Southern Financial LLC: 1) Bought 1,000 AAL Jan'15 $20 call @ $8.00/ct. Sell 1,000 AAL Jan'15 $20 put @ $2.00/ct. Net Debit = $6.00/ct. 2) B 60,000 DXJ @ $49.3749 Please let me know if you have any questions. Thank you, Vahe From: Tazia Smith/db/dbcom@DBAMERICAS To: "jeffrey epstein" <[email protected]>, Cc: "Paul Morris" cc >, "Vahe Stepanian" Date: PM Subject: [C] 12/11/2013 12:09 Re: AAL PROT1 On it Tazia Smith Director Key Client Partners - US Deutsche Bank Securities, Inc. From: Jeffrey Epstein [[email protected]] Sent: 12/11/2013 01:05 PM AST To: Tazia Smith Subject: Re: AAL [C] ok On Wed, Dec 11, 2013 at 12:59 PM, Tazia Smith e > wrote: Jeffrey - American Airlines (AAL) is presently trading - $26.5. You can synthetically create the stock via listed risk reversal out to Jan15: Indicative levels: Spot ref 26.50 Buy Jan15 20 call Sell Jan15 20 put Net Debit: 6.25 PROT2 Do this on 1000 contracts to represent your 2-3mm of exposure. This priced better than a total return swap. Indicative levels only. Subject to market movement. Source: DB WM Equity Derivatives, 12/11/13. TDS Tazia Smith Director Key Client Partners - US Deutsche Bank Securities, Inc. Deutsche Asset & Wealth Mana'ement E-mail: Vahe Stepanian Original Message From: Vahe Stepanian Sent: 12/11/2013 11:43 AM EST To: [email protected] Cc: Paul Morris; Tazia Smith Subject: DXJ [C] Jeffrey, As a follow up to your conversation with Paul, please confirm you would like to purchase 60,000 DXJ @ market. DXJ is currently trading - $49.36, therefore the position = - $3mm exposure. I'111 be back to you shortly on AAL. Thank you, Vahe PROT3 Vahe Stepanian Associate I Wealth Investment Coverage Deutsche Bank Securities Inc. ment Emai This communication may contain confidential and/or privileged information. If you are not the intended recipient (or have received this communication in error) please notify the sender immediately and destroy this communication. Any unauthorized copying, disclosure or distribution of the material in this communication is strictly forbidden. Deutsche Bank does not render legal or tax advice, and the information contained in this communication should not be regarded as such. The information contained in this communication is confidential, may be attorney-client privileged, may constitute inside information, and is intended only for the use of the addressee. It is the property of Jeffrey Epstein Unauthorized use, disclosure or copying of this communication or any part thereof is strictly prohibited and may be unlawful. If you have received this communication in error, please notify us immediately by return e-mail or by e-mail to [email protected], and destroy this communication and all copies thereof, including all attachments. copyright -all rights reserved PROT4 PROT5