EFTA01452391

Jeffrey - Will be back with complete thoughts on all of the below, but given nice pullback today, some highlights (potentially timely entry points) are popping up, for one: Consider buying some of the Citi K fixed to floats today. They went ex-div today (50c) and are trading -$25.25 (down 45c). As you know, they're fixed at 6.875% and float in '23 at 3moL +413bps. One quarterly coupon and you've recouped the moderate premium to par C 6 75 12/31/49 S At 13:57 . 177,757 25.300 99 Save As 9S Actions "EMI" EP045024 Pfd 32101,2Ct4 ID .70 Pe f•S! YID List Price 1Y SY ■ Last Price 25.250 T High on 01/22/14 25.890 Average 25.243 L .1 Low on 10/30/13 24.870 25.230 25.250 25 DIE 25.320 . 25.200 4.487M • 97) Edit • 99 Table Track / Annottin • INT Line Chart Mg" O Volume 25.800 25.600 25.400 25.000 24.800 SM P• Volume 0.178M ■ SMAVG (15) 1.077M ... awl Mellawillell wam Oct 31 Nov 15 Nov 29 2013 Dec 16 Dec 31 Jan 15 2014 Jan 31 ki 0.178M Tazia Smith Director I Key Client Partners - US Deutsche Bank Securities Inc Deutsche Asset & Wealth Management 345 Park Avenue. 26th Flom N Tel meciln Fa Email CONFIDENTIAL - PURSUANT TO FED. R. GRIM. P. 6(e) CONFIDENTIAL DB-SDNY-0 109374 SDNY_GM_00255558 EFTA01452391