EFTA01454542.pdf

From: Tazia Smith Sent: 7/1/2014 10:25:38 AM To: Vinit Sathe CC: Nav Gupta Paul Morris Subject: Banco Espirito continued ICI Attachments: pic22240.gif; pic20051.gif; pic16105.git pic00'367.gif; pic24318.gie pic18133.gif classification: Confidential Rich - vinit highlights the BESP 7.125 2023s LT2 (ISIN PTBEQ)0M0012). This is subordinated Banco Espirito credit. Trading -94.125x95.375 or 8.4% (bloomberg). DB trader is wide on these given volatility - his indicative market is 93.5x95.5, so we'd clearly work a level if interested. vinit - care to opine further? Thanks, Tazia (Embedded image moved to file: pic22240.gif) (Embedded image moved to file: pic20051.gif) From: Tazia Smith, To: Cc: Paul Morris, May Gupta Date: 07/01/2014 09:49 AM Subject: Fw: DB Early morning Reid 7/1/14 + some Banco Espirito (BES PL) trading color [C] Classification: Confidential Hey Rich - Just an FYI , pls see color on BES PL as an FYI (have seen some HF interest in the name) also some follow through in incremental demand for euro Banca monte Dei Paschi (BmPs Let me know if you want more flow color or if peripheral banks are not of interest. Thx, Tazia Forwarded by Tazia smith on 07/01/2014 09:4S AM From: Tazia Smith To: CONFIDENTIAL — PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0 112697 CONFIDENTIAL SDNY_GM_00258881 EFTA01454542