EFTA00663623.pdf

From: Daniel Sabba To: "jeevacation" <[email protected]> Subject: Re: TRS on AAPL - creating synthetic long exposure [C] Date: Sat, 25 Oct 2014 23:25:35 +0000 Importance: Normal Inline-Images: graycol.gif; 21099378.gif; 21489035.gif Classification: Confidential Jeffrey, I wanted to confirm you saw this. Please advise how to proceed. Daniel Daniel Sabba ---• Original Message --- Fres: Daniel Sabba Sent: 10/24/2014 12:18 PM EDT Se: jeevacationegmail.coe Ce: Paul Morris; Vehe Stepanian; Stewart Oldfield; Subject: TRS on AAPL - creating synthetic long exposure (C) Classification: Confidential Jeffrey, Please see below indication for TRS in AAPL. Notional: 1,000,000 shares of AAPL Term: 1 year Southern Financial receives: Total return in AAPL Southern Financial pays: ImL + 75bps Commissions: 3 cents per share to enter and exit the trade. There is no additional break up fee. Execution: We would suggest best efforts VWAP for execution Color from trading desk: "this is probably the worst name for long total return - the street will generally be high". Best regards, Daniel Daniel Sabba Director I Key Client Partners Deutsche Bank Securities Inc Deutsche Asset & Wealth Management 345 ParkAvenue, 26th Floor mai Please note all prices are indicative and subject to change without notice. Derivatives are financial transactions based upon one or more predetermined market factors where periodic payments (or a one-time lump- sum payment) are made by each of the parties to the transaction based upon the value of the market factor or factors. The amount of the EFTA00663623 payment(s) will either be set at a fixed amount or fluctuate as the value of the underlying market factor fluctuates. The underlying market factors are items or variables which are subject to market fluctuations; for example, interest rates, currency exchange rates, assets, stock prices, stock index levels, commodities or a combination of one or more of these factors. Derivatives are normally used either as a hedging device or as an investment vehicle. Over-the-counter (OTC) derivative transactions involve numerous risks including, among others, market, counterparty default and illiquidity risk. In certain transactions, you could lose your entire investment or incur unlimited loss. 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. EFTA00663624