EFTA01451270

which is atypical for a l0year option. This also results from the knockout feature. This means if SY moves quickly by 5% the option increases / decreases in value by almost half, so If SY rises to 110 or 115 the option can easily be unwound to monetize the profit The option costs roughly 1/3rd compared to the vanilla 85 strike call Maximum loss is premium paid Nav Gupta Managing Director Deutsche Bank AG, Filiale London Deutsche Asset & wealth Management 'nners Hall), EC2N LEN London, United Kingdom Any proposed ideas are being delivered to you by the DeAWt4 Key Client Partners ("KCP) London desk for discussion purposes only, and do not create any legally binding obligation on the part of Deutsche Bank AG and / or its affiliates ("DB"). These ideas are for the consideration of the intended recipients of this mail only. The KCP London desk does not provide investment advice. All intended recipients are Professional investors (as defined by MiFID), who understand the strategy, characteristics and risks associated with any ideas proposed herein and will be able to evaluate it independently. All trades on proposed ideas shall be subject to the relevant internal approvals prior to execution. 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 Mob Ema This communication may contain confidential and/or privileged information. If you are not the intended recipient (or have received this communication in error) please notify the sender immediately and destroy this communication. Any unauthorized copying, disclosure or distribution of the material in this communication is strictly forbidden. Deutsche Bank does not render legal or tax advice, and the information contained in this communication should not be regarded as such. *********************************************************** The information contained in this communication is CONFIDENTIAL — PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0 107660 CONFIDENTIAL SDNY_GM_00253844 EFTA01451270