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Epstein File EFTA01365008: Deutsche Bank (DS10)

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This document contains financial analysis and investment materials from Deutsche Bank Securities Inc., including discussion of call spreads, long-dated calls, and investment strategies. The document is marked confidential pursuant to Federal Rule of Criminal Procedure 6(e) and references Bloomberg Finance LP as a source. No specific names, dates, or financial transactions involving Epstein are evident in the excerpts provided.

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**Bank**, Bloomberg Finance LP Source: **Deutsche** **Bank**, Bloomberg Finance LP Figure 17: Call spread returns similar to calls (18M calls Figure 18: but with
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**Bank**, Bloomberg Finance LP Source: **Deutsche** **Bank**, Bloomberg Finance LP Given the attractive levels of long-dated calls currently, investors may still
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Page 10 **Deutsche** **Bank** Securities Inc. CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0055594 CONFIDENTIAL SDNY_GM_00201778 EFTA01365008

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