EFTA01139635.pdf

From: Tazia Smith a> To: jeevacationggmail.com Cc: , Paul Morris , Vinit Sahni Nav Gupta , Vahe Stepanian Subject: Trade Report 1/17/14 [I] Date: Fri, 17 Jan 2014 17:05:24 +0000 Inline-Images: unnamed; unnamed(1) Classification: For internal use only Jeffrey - Today you bought a USDCAD 1.10/1.13, 1.17 knock-in call spread at 1.1% on $10mm USD notional ($109,995 premium paid). Complete details below. Speak with you soon, Tazia TradeType EUR CP Call BuySell Client Buys Currencyl USD Notionall 10,000,000 Currency2 CAD Notional2 -11,000,000 Strike 1.1 ZoneCut NY: 10:00 hours (Local time in New York) ExpiryDate Thu 17 April 2014 Settlement0ate Mon 21 April 2014 FixingReference SPOT Premium 147,945 PremiumTerms USD PremiumDate Tue 21 January 2014 DatabaselD 737154817 TradeType RKI BuySell Client Sells Currencyl USD CP Call Notionall -10,000,000 Currency2 CAD Notional2 11,300,000 Strike 1.13 ZoneCut NY: 10:00 hours (Local time in New York) ExpiryDate Thu 17 April 2014 Settlement0ate Mon 21 April 2014 EFTA01139635 Barrier 1.17 FixingReference SPOT Premium 37,950 PremiumTerms USD PremiumDate Tue 21 January 2014 Fel Tazia Smith Director I Key Client Partners - US Deutsche Bank Securities Inc Deutsche Asset 8 Wealth Management 345 Park Avenue. 26th Floor New Tel. + Fax Mobil Email Purrift,fraeronK From: J <jeevacation©gmail.com> To: Tazia Smith/db/dbcom@DBAMERICAS. Date: 01/17/2014 11:48 AM Subject: Re: Trade Idea: Long 3-Month USDCAD KI Call Spread - 1.10 with a 1.13 sold call knocking-iri only if USDCAD trades to 1.17 (I) Ok Sent from my iPad On Jan 17, 2014, at 12:32 PM, Tazia Smith <I wrote: Classification: For internal use only 10mm notional? <mime-attachment.gif> Tazia Smith Director I Key Client Partners - US Deutsche Bank Securities Inc Deutsche Asset 8 Wealth Management 345 Park Avenue, 26th Floor EFTA01139636 New York. NY 10154 Tel. + Fax Mobil Email <mime-attachment.gif> From: Jeffrey Epstein lemt,Sti) o gmail com> To: Tazia Smithldb/dbcom®DBAMERICAS. Dale: 01/17/2014 11:15AM Subject: Re: Trade Idea: Long 3-Month USDCAD KI Call Spread - 1.10 with a 1.13 sold call knocking-in only if USDCAD trades to 1.17 [I) i like it .. size ? On Fri, Jan 17, 2014 at 11:48 AM, Tazia Smith < > wrote: Classification: For internal use only Jeffrey - Our US FX traders agree/like Nav's call here. The 3-month 1.10/1.13 USDCAD, 1.17 knock-in call spread (where that 1.13 short call only exists if USDCAD goes to 1.17 during the life of the trade) described below is currently offered —1.1% (Source: DB FX Sales, 1/17/14). Please see the investment thesis below and let us know your thoughts. Best, Tazia Indicative levels only. Subject to market movement. Source: DB Key Client Partners London, as of 1/17/14. ---- Forwarded by Tazia Smith/dbldbcom on 01/17/2014 10:35 AM --- From: Nay Guptaldbldbcom@DBEMEA To: Dale: 01/1712014 07:35 AM Subject: I like buying USDCAD calls to position for further weakness in CAD. Spot FX is currently 1.095. [II Classification: For internal use only I like USDCAD call options to position for further weakness in CAD. Spot FX is currently 1.095. Over the course of the past week the interest rate curve has started pricing in a small amount of rate cuts - this development is significant and clearly a beginning of a pain trade. I believe it can go further. Lower CAD rates from here will drive USD CAD higher. EFTA01139637 <mime-attachment.gif> The limited downside play I like best in USDCAD is buying a 3month expiry 1.10 / 1.13 call spread on USDCAD but where the short 1.13 call position only exists (knocks-in) if USD trades at 1.17 trades in the market before the option expires, otherwise the option payoff is the same as a 1.10 call option. It costs 1% of USD notional. I believe the buyer is well compensated for the knock-in component. If USDCAD rises to 1.15 the option payout is 5 big figures. If 1.17 trades before expiry the payout is limited to 3 big figures. Max loss is premium paid. We can price other structures to fit the risk tolerance (higher or lower) of clients - let us know Key Macro Highlights • The economy clearly lags the US. Dec13 unemployment unexpectedly rose last Friday to 7.2% • South of the border demand for USDCAD is declining as the US heads towards energy independence • Low inflation and weak exports are likely to preclude any rate hikes in 2014 <mime-attachment.gif> Best, Nay <mime-attachment.gif> Nay Gupta Managing Director Deutsche Bank AG. Filiale London Deutsche Asset 8 Wealth Management 105/108 Old Broad St Pinners Hall). EC2N 1EN London. United Kingdom Tel. Mobi Email Any proposed ideas are being delivered to you by the DeAWM Key Client Partners ("KCP") London desk for discussion purposes only, and do not create any legally binding obligation on the part of Deutsche Bank AG and / or its affiliates ("DB"). These ideas are for the consideration of the intended recipients of this mail only. The KCP London desk does not provide investment advice. All intended recipients are Professional investors (as defined by MiFID). who understand the strategy. characteristics and risks associated with any ideas proposed herein and will be able to evaluate it independently. All trades on proposed ideas shall be subject to the relevant internal approvals prior to execution. <mime-attachment.gif> This e-mail may contain confidential and/or privileged information. If you are not the intended recipient (or have received this e-mail in error) please notify the sender immediately and delete this e-mail. Any unauthorized copying, disclosure or distribution of the material in this e-mail is strictly forbidden. Please refer to http://www.db.com/en/content/eu disclosures.htm for additional EU corporate and EFTA01139638 regulatory disclosures. <mime-attachment.gif> Tazia Smith Director I Key Client Partners - US Deutsche Bank Securities Inc Deutsche Asset & Wealth Management 345 Park Avenue, 26th Floor Newl in Tel. + Fax + Mobi Email <mime-attachment.gif> 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. The information contained in this communication is confidential, may be attorney-client privileged, may constitute inside information, and is intended only for the use of the addressee. It is the property of Jeffrey Epstein Unauthorized use, disclosure or copying of this communication or any part thereof is strictly prohibited and may be unlawful. If you have received this communication in error, please notify us immediately by return e-mail or by e-mail to [email protected], and destroy this communication and all copies thereof, including all attachments. copyright -all rights reserved 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. EFTA01139639 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. EFTA01139640