From: Daniel Sabba To: "'Jeffrey E."' [email protected]> CC: Paul Morris , Stewart Oldfield Ste anian , "Ariane D er" , "'Richard Kahn" Subject: USDCNH puts [C] Date: Tue, 11 Aug 2015 15:33:55 +0000 Attachments: Executed_CNH_Option_8.25.14.pdf Wine-Images: 22792565.gif; 22764629.gif; 22680917.gif , Vahe , Tazia Smith Classification: Confidential Jeffrey— Vahe spoke to Rich this morning about the USDCNH puts which Southern Financial purchased last year. Please see below the execution email and attached the executed official confirm of the transaction. As you purchased USD puts / CNH calls, this morning's move of weaker yuan went against the direction of the USDCNH puts you own. Please let us know if you would like to discuss this matter in further details — we suggest a call to discuss. Best regards, Daniel Daniel Sabba Key Client Partners Deutsche Bank Securities Inc. Fram To: Date: Subject: leffrey leevacation@gmailoom> Tazia Smithldb/dbcoa 08/12/2014 10:23AM Re: Indicative Levels USDCNH 1yr Options [C] 75 million notional puts at 38 basis points On Tue, Aug 12, 2014 at 6:55 AM, Tazia Smith '<le wrote: Classification: Confidential Jeffrey - USDCNH Ref: Spot 6.1604; Fwd 6.2723 (i.e. 101.82% of spot) 1 y ATMS (6.1604) USDCNH call: 1.041% / 2.215% 1yATMF (6.2723) USDCNH call: 1.041% / 1.190% 1yATMF / ATMF +3% call spread: 0.469% / 0.73% EFTA01197432