EFTA Document EFTA01404998

Subject: Follow-up on EUR hedging discussion [C] From: Daniel Sabba < Date: Thu, 13 Nov 2014 13:38:00 -0500 To: jeevacation@gmail.com Cc: Paul Morris >, Stewart Oldfield Vahe Stepanian < Classification: Confidential Classification: Strictly Confidential Jeffrey, I met with the head of FX trading of our investment bank to discuss the EUR hedging question you posed. To build a multi-billion short, a solution would be to implement a combination of spot, forward and options transactions