EFTA01459278.pdf

From: Vahe Stepanian Sent: 1/8/2016 4:28:47 PM To: jeffrey E. (jeevacation mail corn) CC: Paul Morris Daniel Sabba Ariane Dwyer Richard Kahn Subject: RE: Re: (SC] Classification: Strictly Confidential Jeffrey — indicative levels are below. Pricing below assumes Southern Financial LLC wants to be long AAPL shares. Total Return Swap: Swap Seller: DB Swap Buyer: Southern Financial LIC Ticker: AAPL Size: 250,000 shares Expiry: 12 months Spread: 1ml+ 75bps Resets: Quarterly Optional Early Termination: Applicable, 3 days (two-way) Commissions: $0.03 per share, in and out IA: 35% (Cash, Treasuries, or Munis) We will call you before the open on Monday to confirm. Thank you, Vahe From: jeffrey E. [mailto:[email protected] Sent: Friday, January 08, 2016 3:14 PM To: Daniel Sabba Cc: Paul Morris; Richard Kahn; Vahe Stepanian; Ariane Dwyer Subject: Re: Re: quarterly stc yes , talk to rich kahn , lets wait until tomorw morhing will call beforeth opeing On Fri, Jan 8, 2016 at 4:09 PM, Daniel Sabba <MMMI > wrote: Jeffrey, Can you please confirm: a. Whether you would like us to indicate Southern financial going long AAPL on TRS b. Whether we should price ly expiry of the TRS c. What reset frequency would you like us to price? Monthly / quarterly / etc? d. If you decide to transact once we have the indication, would you like us to execute VWAP to close? Best regards, Daniel CONFIDENTIAL — PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0119591 CONFIDENTIAL SONY GM_00265775 EFTA01459278