EFTA01373777.pdf

For Key Client Partners or US Institutional Investors. Not for Retail Distribution Short Term Tax Exempt Investment Sample Portfolio Characteristics I Key Characteristics •Senior TOB Certificate program was created to provide Portfolio Statistics municipal mutual funds and banks with a financing vehicle in the form of a partnership, which also helps preserves the tax exemption for both counterparties Average Credit Quality AA-A Rating •The basic structure was developed to meet the eligibility requirements of tax exempt money market funds Maturity 5 business days •Senior Certificates have a 5 business day put to Market Price 100 par Deutsche Bank Average Coupon 0.90% •Overcollateralization provides additional security'• Average Overcollateralization 30% Sample Cusips Floater Cuslp Obligor State Rating OC" Rates • 88033L3D9 NYC Water NY Aa VAA+/AA+ 0.79% 137% 88033LV48 Community Health Network IN A2/AMR 0.87% 141% 88033L7Y9 MedStar Health MD AZ/A-/A 0.93% 142% 88033SY57 Lee Memorial Hospital FL A2/AMR 0.91% 154% 880331269 Regional Transportation District CO Aa3/AlAA- 0.86% 144% Deutsche Bank •Rates as of 1/18/2017 14 "Min overcollateralization levels may vary on the deal by deal basis For illustrative purposes only, terms and conditions subject to change. All transactions subject to final credit, legal, tax, and other internal DB approvals. DB is not a financial, accounting. or tax ad✓isor to Investor and Investor should consider carefully with their advisors prior to executing any transaction CONFIDENTIAL - PURSUANT TO FED. R. GRIM. P. 6(e) DB-SDNY-0068134 CONFIDENTIAL SDNY_GM_00214318 EFTA01373777