From: "Jeffrey E." <jeevacation@grnail.com>

From: "Jeffrey E." <jeevacation@grnail.com> To: Daniel Sabba Subject: Re: bullish expression of single stocks [C] Date: Wed, 10 Jun 2015 15:46:17 +0000 yes On Wed, Jun 10, 2015 at 11:44 AM, Daniel Sabba ..z > wrote: Classification: Confidential Jeffrey, per our conversation, you would still like to purchase 5000 shares of dish networks at market, regardless of DB Research not covering it. Thank you, Daniel From: Daniel Sabba Sent: Wednesday, June 10, 2015 11:28 AM To: Ariane D er• 'e E. Cc: • Paul Morris; Stewart Oldfield; Vahe Stepanian Subject: RE: bullish expression of single stocks [C] Classification: Confidential Jeffrey — please see email below from An. Please note DB does not cover DISH Networks. Would you still like to buy 5000 shares of it? Please confirm. From: Mane Dwyer Sent: Wednesday, June 10, 2015 11:14 AM To: Jeffrey E. Cc: Daniel Sabba; • Paul Morris; Stewart Oldfield; Vahe Stepanian Subject: RE: bullish expression of single stocks [C] Classification: Confidential Jeffrey, We are reaching out the research analysts to answer your questions. Please note DB research does not cover Dish Networks. It covers Dish TV, whose research report we sent earlier. Please see the updated table reflecting this information below: Company Ticker Price 0 6/1/15 Close Price @ 6/10/15 DB Global Markets Research Rating (GMR) DB GMR Target @ 6/1/15 DB GMR Target @ 6/10/15 Retrophin RTRX $31.85 $31.90 Buy $52 $55 Orexigen Therapeutics OREX $4.91 $4.51 No Coverage Akom Inc. AKRX $46.25 $46.23 Buy $55 $55 Dish Networks DISH $72.07 $72.78 No Coverage Pioneer Natural Resources PXD $149.77 $150.00 Hold $182 $175 EOG Resources Inc. EOG $88.76 $90.04 Buy $101 $101 EFTA00854755 General Dynamics GD $140.25 $140.56 Buy 5166 $166 Delphi Automotive DLPH $86.83 $87.42 Buy $94 $94 Comcast CMCSA $58.78 $58.13 No Coverage Glaxo Smith Kline GSK 1456 GBP 1376 GBP Hold 1540 GBP 1540 GBP Viacom VIAB $66.71 $67.40 Buy 585 $85 Baidu BIDU $201.56 $204.92 Buy $239 $239 Alibaba BABA $90.78 $88.32 Buy 5104 $102 From: jeffrey E. (mailto:ieevacation@gmail.com Sent: Wednesday, June 10, 2015 10:50 AM To: Ariane Dwyer Cc: Daniel Sabba; • Paul Morris; Stewart 0ldfiekl; Vahe Stepanian Subject: Re: bullish expression of single stocks [C) price targets over what time frame??? and why is is pioneer a hold if the price target is so much highter than today On Wed, Jun 10, 2015 at 10:40 AM, Ariane Dwyer wrote: Classification: Confidential Hi Jeffrey, Per your conversation with Daniel, please find below the refreshed table. Company Tidier Price @6/1/15 Close Price® 6/10/15 DB Global Markets Research Rating (GMR) DB GMR Target @ 6/1/15 DB GMR Target P 6/10/15 Retrophin RTRX $31.85 $31.90 Buy $52 $55 Orexigen Therapeutics OREX $4.91 $4.51 No Coverage Mom Inc. AKRX $46.25 $46.23 Buy $55 $55 Dish Networks DISH $72.07 $72.78 Buy 105 INR 105 INR Pioneer Natural Resources PXD $149.77 $150.00 Hold $182 $175 EOG Resources Inc. EOG $88.76 $90.04 Buy $101 $101 General Dynamics GD $140.25 $140.56 Buy $166 $166 Delphi Automotive DLPH $86.83 $87.42 Buy $94 $94 Comcast CMCSA $58.78 $58.13 No Coverage Glaxo Smith Kline GSK 1456 GBP 1376 GBP Hold 1540 GBP 1540 GBP Viacom VIAB $66.71 $67.40 Buy $85 $85 Baidu BIDU $201.56 $204.92 Buy $239 5239 Alibaba BABA $90.78 $88.32 Buy $104 5102 Best, Ari EFTA00854756 From: Daniel Sabba Sent: Wednesday, June 10, 2015 9:48 AM To: leevacation(agmail.comi; Cc: Paul Morris; Stewart Oldfield; Vahe Stepanian; Mane Dwyer Subject: bullish expression of single stocks [C] Classification: Confidential Jeffrey. I called you back yesterday and left a message with Lesley. We had reached out to discuss using short dated structured notes to articulate constructive views on single name stocks. We priced the example below for AAPL and BK, and could do the same for your favorite names from the list we sent you last week (email below). Sample transaction terms • 18mo Callable Yield Note Issuer: BNP Paribas Maturity: 18 months (callable after 3 months) Underlying: Lesser of: Apple Inc (AAPL) Bank of New York Mellon (BK) Callable: Contingent Coupon: Coupon Barrier: Principal Barrier: Quarterly - at issuer's discretion 10.00% M. subject to coupon barrier Observed and paid quarterly 75% of initial strike observed quarterly 75% of initial strike observed at maturity only Description: The investor receives 2.50% per quarter (10% p.a.) if all (2) underlying stocks are above the coupon barrier on the quarterly observation date. The note is callable at the discretion of the issuer on each quarterly observation date. If not redeemed early, at maturity, the principal is at risk if one or more of the underlying stocks has a final strike below their principal barrier, with the investor being exposed to the return of the worst performing underlying stock. Settlement at termination can be either cash or physical. Looking forward to discussing, Daniel EFTA00854757 From: Ariane Dwyer Sent: Tuesday, June 02, 2015 9:24 AM To: 'jeevacation@gmail.com'; Cc: Vahe Stepanian; Daniel Sabba; Paul Morris Subject: RE: send to rich please (C] Classification: Confidential Good morning, Per your request, please find below the stocks with 6/1/15 close price, DB Global Market Research Rating and DB Global Market Research Target price. In addition please find attached DB Global Market Research Reports about the companies we cover. Please note these are independent equity research views. Company Ticker Price @ 6/1/15 Close DB Global Markets Research Rating DB Global Markets Research Target Retrophin RTRX $31.85• Buy $52 Orexigen Therapeutics OREX $4.91 No Coverage Akorn AKRX $46.25 Buy $55 Dish Networks DISH $72.07 Buy $105 Pioneer Natural Resources PXD $149.77 Hold $182 EOG Resources EOG $88.76 Buy $101 General Dynamics GD $140.25 Buy $166 Delphi Automotive DLPH $86.83 Buy $94 Comcast CMCSA $58.78 No Coverage Glaxo Smith Kline GSK 1456 GBP Hold 1540 GBP Viacom VIAB $66.71 Buy $85 Baidu BIDU $201.56 Buy $239 Alibaba BABA $90.78 Buy $104 *52 week high Let us know if you have any questions. Best, Ari From: Daniel Sabba Sent: Tuesday, June 02, 2015 6:41 AM To: leevacationegmail.comi. Cc: Vahe Stepanian; Mane Dwyer Subject: Re: send to rich please [C] Classification: Confidential Paul Morris EFTA00854758 Jeffrey, to clarify, are you looking at closing prices as of 06/01/2015? From: Jeffrey E. fmailto:jeevac ion gmS. orn Sent: Monday, June 01, 2015 09:54 PM To: Daniel Sabha; Richard Kahn < >; Paul Morris Subject: send to rich please prices on RTRX, OREX AKRX dish nctworks, PXD EOG, GD, delphi, comcast, glaxo viacom. baidu baba please note The information contained in this communication is confidential, may be attorney-client privileged, may constitute inside information, and is intended only for the use of the addressee. It is the property of JEE Unauthorized use, disclosure or copying of this communication or any part thereof is strictly prohibited and may be unlawful. If you have received this communication in error, please notify us immediately by return e-mail or by e-mail to jecvacation@gmail.com and destroy this communication and all copies thereof, including all attachments. copyright -all rights reserved 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. please note The information contained in this communication is confidential, may be attorney-client privileged, may constitute inside information, and is intended only for the use of the addressee. It is the property of JEE Unauthorized use, disclosure or copying of this communication or any part thereof is strictly prohibited and may be unlawful. If you have received this communication in error, please notify us immediately by return e-mail or by e-mail to jecvacation®gmail.com and destroy this communication and all copies thereof, including all attachments. copyright -all rights reserved 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. EFTA00854759 Deutsche Bank does not render legal or tax advice, and the information contained in this communication should not be regarded as such. please note The information contained in this communication is confidential, may be attorney-client privileged, may constitute inside information, and is intended only for the use of the addressee. It is the property of JEE Unauthorized use, disclosure or copying of this communication or any part thereof is strictly prohibited and may be unlawful. If you have received this communication in error, please notify us immediately by return e-mail or by e-mail to jccvacation®gmail.com and destroy this communication and all copies thereof, including all attachments. copyright -all rights reserved EFTA00854760