From: Vahe Stepanian

From: Vahe Stepanian To: "Jeffrey E." <jeevacation®gmail.com.> Stewart Oldfield , Richard Kahn ,Ariane D er , Paul Morris CC: Daniel Sabha Subject: AAPL / SUNE Note [Cl Date: Thu, 20 Aug 2015 19:30:35 +0000 Inline-Images: image001.jpg; image002.jpg Classification: Confidential Jeffrey —we indicatively priced up the below structured note today on the back of weakness in both AAPL and SUNE. Please let us know if this is of interest. Thank you, Vahe Sample transaction terms - 18mo Callable Yield Note For discussion purposes only — pricing subject to change Issuer: Maturity: BNP Paribas 18 months (callable after 3 months) Underlying: Lesser of: Apple Inc (AAPL) SunEdison Inc. (SUNE) Callable: Contingent Coupon: Coupon Barrier: Principal Barrier: Quarterly if both are above initial level 30.00% p.a. subject to coupon barrier Observed and paid quarterly 60% of initial strike observed quarterly 60% of initial strike observed at maturity only Description: The investor receives 7.50% per quarter (30% p.a.) if all (2) underlying stocks are above the coupon barrier on the quarterly observation date. The note is autocallable on each quarterly observation date if both of the underlying stocks are above initial level on 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. Cash settlement at termination. SUNE Chart: EFTA01207631 i 1 /au Pe . 122171 T 626 on 06/23/1532.13 • Aware 21.1193 Low cm 06/20/15 122171 4gIVAinr. 11 Mel lelinii14141011111,1111111IIIIIIIIIIIIIIIIIIIIIIIIIIIII Illiglgirli11111111.1.roldiglilligher111111.11.11111101111101kIlliglinillirmillighlginlilliihrhililliluglinilinlgorlIgilinilli11111111eildligillilli VIII ii Oki Na. Dec lin 146 Har sor key )tr AA 2014 2015 51.11 US Wiry (54stilkn loc) Otty 1,30042011.10.00.42015 0:voirre 2011 61carbest I trona . AAPL Chart: ■ Last Rice 113.13 T Nigh on 02/23/15 133.00 -4 Average 117.3644 J. Low on 10/16/14 96.26 41•Voin 56.92914 IIIIIIIIIIIIIIIIIIIIII Jan Feb AP, Nay 2014 2015 'Used with the permission of Bloomberg Finance LP Vahe Stepanian Assistant Vice President I Key Client Partners Deutsche Bank Securities Inc. Tel. +1212 454-1539 Mobile +1 347 854-4676 Email X4449.201S 1.425:141 EFTA01207632 This material has been prepared for discussion purposes only and is not intended to be an offer or solicitation. or the basis for any contract to purchase or sell any security. or other instrument. or for Deutsche Bank to enter into or arrange any type of transaction as a consequence of any information contained herein. Structured products are not suitable for alt investors. Terms quoted above are indicative only and subject to change. This offering relies on a Regulation S exclusion from Section 5 registration requirements of the Securities Act of 1933 and may not be offered to U.S. persons. Structured products are not suitable for all investors due to illiquidity. optimality. time to redemption, and payoff nature of the strategy. 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Additional risks to consider involve interest rates, currencies, credit. political, liquidity. time value, commodity and market risks. Please consider carefully before :westing. Most structured products are only available to certain investors who qualify as 'Accredited Investor as defined in the Regulation D under the Securities Act of 1933. as amended ('the Securities Act'). andf or 'Qualified Purchasers' as defined in Section 2(aX51) of the Investment Company Act of 1940. as amended ('the Investment Company Act'). In addition, prospective investors must sign the Structured Products Account Agreement and Approval Form affirming investor status as well as other matters. 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. 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