EFTA01047648.pdf

From: DeAWM-WM DerivativeDoes ,. > To: DeAWM-WM DerivativeDoes Subject: CFTC Segregation of Initial Margin - Annual Notification 2017-2018 Date: Thu, 31 May 2018 22:19:46 +0000 Inline-Images: image001.png; image002.png Dear Collateral Officer: Deutsche Bank AG ("Deutsche Bank") is provisionally registered as a swap dealer with the Commodity Futures Trading Commission ("CFTC") under The Dodd-Frank Wall Street Reform and Consumer Protection Act ("Dodd-Frank"). This communication is to remind you that if you are a U.S. Person or a Guaranteed Affiliate or Affiliate Conduit of a U.S. Person (each as defined by the CFTC), you have a right to segregate any initial margin that you post in respect of CFTC-regulated uncleared swaps. In accordance with CFTC rule 23.701, we are notifying you that, to the extent you post IM in respect of any CFTC regulated uncleared swap with us that is executed on or subsequent to the applicable compliance date, you have the right to elect that IM be segregated in accordance with the requirements set forth in CFTC rules 23.702 and 23.703(the "CFTC Segregation Regime"). Unless you wish to change the election you previously made (or were deemed to have made), your existing segregation arrangements, if any, will remain in effect and will apply to future CFTC regulated uncleared swap transactions. You may change your election at any time by delivering written notice to us. If you elect to require the CFTC Segregation Regime, certain documentation, including a tri-party custodial agreement that meets the requirements of the CFTC Segregation Regime, must be put in place. Choosing this election might prevent us from entering into new CFTC-regulated uncleared swaps with you until such documentation is in place. Notwithstanding the foregoing, if you choose to enter into an Uncleared Swap with us prior to executing such documentation, you will be deemed to have made an election not to require CFTC IM Segregation for that particular transaction. Unless your most recent election with us is to require the CFTC Segregation Regime, if you do not respond within twenty (20) business days of receipt of this Annual Notice of Right to Segregation of Initial Margin, we will deem you to have confirmed receipt of this notice by your Collateral Officer and to have made an election to not require the CFTC Segregation Regime. In the event you execute an Uncleared Swap with us after receipt of this notice but prior to the expiration of the above period, and we have not otherwise obtained your election, we will deem you to have confirmed receipt of this Annual Notice of Right to Segregation of Initial Margin by your Collateral Officer and to have made an election to not require the CFTC Segregation Regime. A non-exclusive list of custodians that are currently considered acceptable to us for the CFTC Segregation Regime as well as indicative pricing information is provided in the Deutsche Bank Dodd-Frank Resource Centre(www.db.com/doddfrank). Please use the password: Dbdoddfrank. (This password is being provided for your use as a Client of Deutsche Bank. Please do not share it outside of your institution.) If you have any questions regarding this notice or to receive an IM Segregation Election Letter form or to update previously provided information, please contact your sales representative or 2017-2018 Thank You, Ellenoi Jarvis EFTA01047648  htt ps://b Ellenoi Jarvis Deutsche Bank Trust Company Americas WM Americas - New York, NY, USA Email ;;Ihttps://brandportal.intr lanet.db.com/img/module Ishincifiva imnart FNO. DBSI does not accept orders and/or instructions regarding your account by e-mail. Any orders or transactional requests sent by e-mail will not be processed until DBSI can confirm your instructions or obtain appropriate written documentation, where necessary. 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. Please refer to https://db.com/disclosures for additional EU corporate and regulatory disclosures. Deutsche Bank does not render legal or tax advice, and the information contained in this communication should not be regarded as such. EFTA01047649