EFTA Document EFTA01401644

Subject: Follow-up on AAPL TRS C From: Daniel Sabba < Date: Tue, 11 Nov 2014 11:32:19 -0500 To: jeevacation@gmail com Cc: Paul Morris Stewart Oldfield Vahe Stepanian < Classification: Confidential Jeffrey, It was great meeting you yesterday. Per our conversation, we liaised with the desk head in our institutional sales and trading platform for equity derivatives and confirmed the points we discussed yesterday: - balance sheet charges are the primary driver of the price difference you