From: Sent: To: CC: Subject: Attachments: Tazia Smith 7/1/2014 10:25:38 AM Nav Gupta Banco Espirito continued ICI pic22240.gif; pic20051.gif; pic16105.git pic00'367.gif; pic24318.gie pic18133.gif Vinit Sathe Paul Morris classification: Confidential Rich - vinit highlights the BESP 7.125 2023s LT2 (ISIN subordinated Banco Espirito credit. Trading -94.125x95.375 or 8.4% (bloomberg). DB volatility - his indicative market is 93.5x95.5, if interested. vinit - care to opine further? Thanks, Tazia (Embedded image moved to file: pic22240.gif) (Embedded image moved to file: pic20051.gif) From: To: Cc: Date: Subject: Tazia Smith, PTBEQ)0M0012). This is trader is wide on these given so we'd clearly work a level Paul Morris, May Gupta 07/01/2014 09:49 AM Fw: DB Early morning Reid 7/1/14 + some Banco Espirito Classification: Confidential (BES PL) trading color [C] Hey Rich - Just an FYI , pls see color on BES PL as an FYI (have seen some HF interest in the name) also some follow through in incremental demand for euro Banca monte Dei Paschi (BmPs Let me know if you want more flow color or if peripheral interest. Thx, Tazia banks are not of Forwarded by Tazia smith on 07/01/2014 09:4S AM From: Tazia Smith To: CONFIDENTIAL — PURSUANT TO FED. R. CRIM. P. 6(e) CONFIDENTIAL SDNY_GM_00258881 DB-SDNY-0 112697 EFTA01454542