EFTA01344639

To: jeevacation@gmail.com, Cc: , Vahe Stepanian/db/dbcom@DBAmericas Date: 11/12/2013 02:55 PM Subject: BRL Notes marking down >20% (C) classification: confidential Jeffrey - You're long 1mm USD each of BRL step up notes in southern Trust from JP. The notes have a 15% barrier and BRL is presently down —17% vs. USD from your initial strike. The notes are marking down more than 20%. Barrier is European. Final valuation date on the notes are 3/20/14 and 4/14/14. Posting you and would like to get your view given the move and mark-to-market (vs. your -10% rule). speak with you soon, Tazia (Embedded image moved to file: pic10844.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 Emai (Embedded image moved to file: pic29420.gif) CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0030324 CONFIDENTIAL SDNY_GM_00176508 EFTA01344639