EFTA Document EFTA01479684

Subject: Re: [C] From: Tazia Smith < Date: Tue, 12 Au 2014 08:06:15 -0400 To: Apurva Gupta Cc: Nav Gupta < Paul Morris >, Uzair Aqeel Vahe Stepanian < Vinit Sahni Classification: Confidential Thanks Apurva - those levels are in line w what I priced last night. Nav was right in that despite Jeffrey's request for a renminbi call at -40bps , which is inline with a USDpCNHc ATMS offer and implies he has a view that renminbi could strengthen further vs the dollar, he came back wanting a