EFTA01453251

WTI Jun14 You buy call, strike 101 You sell put, strike X 100 lots on each leg Costless package Both legs knock out if WTI Jun14 setttles below $20/bbl on any day during the trade Jun14 ref 97.60 X=94.25 Initial Margin: 13% From: Tabs Smith/db/clbcom To. jeevaptiongesimea Cc: Date: 03/14/2014 10:07 AM Subtect: Zero Cost WII Collar 101/94.5. spot ref 97.75 (I) Pata Mon Classification: For internal use only Good Morning Jeffrey - Crude ticking up this AM as you know, you can add to your risk reversal with the same 101 strike call with a 94.50 indicative sold put (vs. your 93.50 yesterday. Let us know: WTI Jun14 You buy call, strike 101 You sell put, strike X 100 lots on each leg Costless package Both legs knock out if WTI Jun14 setttles below $20/bbl on any day during the trade Jun14 ref 97.75 X = 94.50 Initial Margin: 13% TDS CONFIDENTIAL - PURSUANT TO FED. R. GRIM. P. 6(e) DB-SDNY-0 110762 CONFIDENTIAL SDNY_GM_00256946 EFTA01453251