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sd-10-EFTA01383629Dept. of JusticeOther

EFTA Document EFTA01383629

From: Sent: To: CC: Paul Morris ;'Richard Kahn' l; Daniel Sabba I ; Ariane Dwyer ; Stewart Oldfield Subject: RE: DB James Malcolm: Are the Bo) shifting stance? Own some cheap optionatity..... [CI Vahe Stepanian 5/4/2015 1:44:15 PM 'Jeffrey Epstein' [jeevacation@gmail.com] Jeffrey- bid/ask below per your request. There was a typo in the previous email, the mid represented was not the mid on the structure but an offer on one of the legs. To clarify, we priced the structures by choo

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sd-10-EFTA01383629
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From: Sent: To: CC: Paul Morris ;'Richard Kahn' l; Daniel Sabba I ; Ariane Dwyer ; Stewart Oldfield Subject: RE: DB James Malcolm: Are the Bo) shifting stance? Own some cheap optionatity..... [CI Vahe Stepanian 5/4/2015 1:44:15 PM 'Jeffrey Epstein' [jeevacation@gmail.com] Jeffrey- bid/ask below per your request. There was a typo in the previous email, the mid represented was not the mid on the structure but an offer on one of the legs. To clarify, we priced the structures by choo

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From: Sent: To: CC: Paul Morris ;'Richard Kahn' l; Daniel Sabba I ; Ariane Dwyer ; Stewart Oldfield Subject: RE: DB James Malcolm: Are the Bo) shifting stance? Own some cheap optionatity..... [CI Vahe Stepanian 5/4/2015 1:44:15 PM 'Jeffrey Epstein' [jeevacation@gmail.com] Jeffrey- bid/ask below per your request. There was a typo in the previous email, the mid represented was not the mid on the structure but an offer on one of the legs. To clarify, we priced the structures by choosing a strike on the USD/JPY put sale, then solving for the call. Spot ref = 120.15 #1) SFLLC sells Put, buys Call on USD/JPY in a premium neutral Risk Reversal Put Strike: 118.00 Call Strike: 122.45 Notional: USD 10,000,000 USD Expiry: Thu 06-Aug-2015 (3m) As a spread: Price on the 118.00 is 103,000 / 113,000 Price on the 122.45 is 103,000 choice #2) SFLLC sells Put, buys Call on USD/JPY in a premium neutral Risk Reversal Put Strike: 117.00 Call Strike: 123.45 Notional: USD 10,000,000 USD Expiry: Thu 05-Nov-2015 (6m) Settlement: Mon 09-Nov-2015 As a spread: Price on the 117 is $149,100 / $160,000 Price on the 123.45 is $149,100 #3) SFLLC sells Put, buys Call on USD/JPY in a premium neutral Risk Reversal Put Strike: 116.00 Call Strike: 125.00 Notional: USD 10,000,000 USD Expiry: Thu 05-Nov-2015 (6m) Settlement: Mon 09-Nov-2015 ZoneCut: NY As a spread: Price on the 116.00 is $117,500 / $130,000 Price on the 125.00 is $117,500 choice Thank you, Vahe CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0083379 CONFIDENTIAL SDNY GM_00229583 EFTA01383629

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Subject: RE: DB James Malcolm: Are the BoJ shifting stance? Own some cheap optionality [C] From: Paul Morris ‹ > Date: Mon, 04 May 2015 10:08:51 -0400 To: Vahe Stepanian < Cc: Stewart Oldfield Classification: Confidential Hi thx, can u cc Stew on these Paul Morris Managing Director Deutsche Bank Private Bank Office: 212-454-0701 Cell: From: Vahe Stepanian Sent: Monday, May 04, 2015 10:00 AM To: Jeffrey Epstein Cc: Paul Morris; Daniel Sabba; Ariane Dwyer; Richard Kahn Subject:

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Subject: RE: DB James Malcolm: Are the BoJ shifting stance? Own some cheap optionality [C] [I] From: Stewart Oldfield Date: Mon, 04 May 2015 14:55:09 -0400 To: Paul Morris ‹ > Classification: For internal use only Remarkably, Vahe actually copied me on that one From: Paul Morris Sent: Monday, May 04, 2015 2:55 PM To: Stewart Oldfield Subject: FW: DB James Malcolm: Are the BoJ shifting stance? Own some cheap optionality [C] [I] Classification: For internal use only Paul Morris M

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From: Stewart Oldfield SeM: 5/4/2015 2:55:09 PM To: Paul Morris Subject: RE: DB James Malcolm: Are the Bpi shifting stance? Own some cheap optionality [C] Classification: For Internal use only Remarkably, Vahe actually copied me on that one From: Paul Morris Sent: Monday, May 04, 2015 2:55 PM To: Stewart Oldfield Subject: FW: DB James Malcolm: Are the Bo) shifting stance? Own some cheap optionality [C] [I] Classification. For internal use only Paul Morris Managing Director De

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Subject: FW: DB James Malcolm: Are the BoJ shifting stance? Own some cheap optionality [C] [I] From: Paul Morris ‹ > Date: Mon, 04 May 2015 14:54:30 -0400 To: Stewart Oldfield ‹ > Classification: For internal use only Paul Morris Managing Director Deutsche Bank Private Bank Office: 212-454-0701 Cell: From: Vahe Stepanian Sent: Monday, May 04, 2015 1:44 PM To: 'Jeffrey Epstein' Cc: Paul Morris; 'Richard Kahn'; Daniel Sabba; Ariane Dwyer; Stewart Oldfield Subject: RE: DB James Mal

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From: Vahe Stepanian Nahe.stepanian@db.corni Sent: 1/15/2016 3:15:07 PM To: Jeffrey Epstein orni CC: Daniel Sabba ( ; Ariane Dwyer ; Paul Morris [ Stewart Oldfield ; Richard Kahn J Subject: JPYKRW Trade Recap - 1/15/16 ICI Classification: Confidential Jeffrey — today you executed the following transactions to close out your JPYKRW forward transaction. Note your USD proceeds will be —$893k as opposed to —$840k per your email below. Offsetting JPYKRW Forward Client SOUTHERN FIN

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