EFTA01450789.pdf

From: Tazia Smith Sent: 12/23/2013 8:39:25 PM To: Paul Morris Subject: Attachments: FRC Oct 2013.pdf; pic04654.gif; pic30909.gif classification: For internal use only Paul - For Jeffrey First Republic 7% preferred (FRC E Pfd), currently -425.25 - Recent issue, 10/28/13 - Callable 2018 at par (425) - Currently -$25.25, 6.9% yield - FRC equity at fair value given outstanding growth since re-IPOing, top-pick over 3yr time horizon - M&A upside possible (priced in) Consider working with a limit of $25.20 (thin trader), up to Slim in southern Trust. (see attached file: FRC Oct 2013.pdf) (Embedded image moved to file: pic04654.gif) Tazia smith Director I Key client Partners - us Deutsche Bank securities Inc Deutsche Asset & wealth management 345 Park Avenue, 26th Floor New York. NY 10154 Tel. Fax Mobi Email (Embedded image moved to file: pic30909.gif) CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0 106652 CONFIDENTIAL SDNY_GM_00252836 EFTA01450789