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💨IMPACT LEVEL 1 — MEH

Epstein File EFTA01461740: Client and Deutsche Bank (DS10)

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This document is a Deutsche Bank Securities investment communication dated September 8, 2014, detailing a zero-cost collar transaction with notional value up to EUR 50 million, involving EUR/USD currency options. The communication is from Vahe Stepanian, Associate in Wealth Investment Coverage, and includes standard disclaimers regarding confidentiality and legal/tax advice limitations.

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Excerpt 1
Expiry: 3m (8 Sep 2014 expiry) Notional: Up to EUR 50mm (each leg) For a Zero-Cost Collar: **Client** buys 1.3405 EUR Put / USD Call **Client** sells 1.38 EUR
Excerpt 2
contained in this communication should not be regarded as such. please note The information contained in this communication is confidential, may be attorney-**client**
Excerpt 3
Thank you, Vahe / Vahe Stepanian Associate I Wealth Investment Coverage **Deutsche** **Bank** Securities Inc.

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