From: Paul Morris hii To: jeevacation@gmail.com Subject: Fw: Recommendations.... [C] Date: Tue, 07 Jan 2014 22:48:07 +0000 Inline-Images: unnamed; unnamed(1) Classification: Confidential we are very focused on you and i want to make absolutely sure we are set up properly for you, we have tremendous global capabilities and great ideas, one of the biggest players covering the super HNW, look forward to seeing you Friday. best and thx Paul Morris Managing Director Deutsche Bank Private Bank 345 Park Avenue, 27th Floor New York, NY 10154 --—- Forwarded by Paul Morris/db/dbcom on 01/07/2014 05:41 PM —— From: Tazia Smithidb/dbcom To: jeevacation@gmail.com, Cc HS. Pau! Morris, Vinit Sahni/db/dbcom@DBEMEA, Vahe Stepanian/db/dbcom@DBAmericas Date: 01/07/2014 11:54AM Subject: Recommendations.... [C] Classification: Confidential Jeffrey - Looking forward to seeing you Friday for complete position review and current, actionable recommendations from your DB team (cc'ing Vinit who will join us from London by phone). In the interim consider the following: Haze © Redeem ~$2.7mm JP High Yield Mutual (OHYFX) - you made ~19% total retum over your hold, (down ~3.5% on price) Southern Financial ® Sell 750k face JPM 6% fixed-to-float perpetual preferred, floats only at 3moL+330bps in ‘22 - you're down just ~84bps total return basis, doesn’t comp well ® Sell 1.4mm face GE 5.25% fixed-to-float perpetual preferred, floats only at 3moL+296.7bps ‘23 down ® You own 397k euros, earn no interest, consider EURUSD Deposit Plus. Ex: EURUSD, euro on deposit, 2-week duration, 3% annualized yield, ~1.373 strike vs. 1.36 spot ref. (for comparison, short dated periphery bond spreads have come in, as you know. ex: spanish 10/15 bond ~100bps) After the year-end rally, consider an entry point on the knock-out put on the Eurostoxx50 we had talked about vs. your basket of single names that you currently own (still at JP at the moment). Following the record-beta year we just had, we think relative value, alpha, and L/S, will be integral to absolute returns. Re-freshed pricing on the KO Put overlay here, please let us know: Structure: Client buys Knock-out Put Eurostoxx50 Underlying: SX5E Currency: Euro Notional: 10mm. Tenor: 13-months Put Strike: 100% Barrier: 80% (observed at maturity only) EFTA00706122

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Offer: 3.97% (vs vanilla at 8.92%) Indicative levels only. Subject to market movement. Source: DB Equity Derivatives, 1/7/14 Tazia Smith Director | Key Client Partners - US Deutsche Bank Securities Inc Deutsche Asset & Wealth Management 345 Park Avenue, 26th Floor Email cation may the intended rec fy the on. Any unauthorize ial in this communication Deutsche Bank does not rer EFTA00706123