EFTA Document EFTA01479447

Subject: 10yr $/Y.. From: Tazia Smith < Date: Thu, 30 Jan 2014 18:26:32 To: jeevacation@gmail.com Cc: Paul Morris Vinit Sahni Nav Gupta < Vahe Stepanian < -0500 Classification: Confidential Jeffrey - Below is the description and scenario analysis from Nav and team for the l0y USDJPY call option, strike 85 with American style KO at 90 (v spot). If you review and like the long-term position ("IRR" like trade, as Vinit said), our suggestion is to leg in, perhaps $5mm notional x2 for t