EFTA00649505.pdf

From: Daniel Sabba To: jeevacation@gmail.com Cc: , Paul Morris -ti as, Subject: Trade Recap - 01/13/2015 - DB Commodity WTI Short Volatility II Index [CI Date: Tue, 13 Jan 2015 20:12:47 +0000 Classification: Confidential Jeffrey, per our phone conversation, Southern Financial LLC entered into the following commodity swap with Deutsche Bank AG, acting through its London branch. Southern Financial went long DB Commodity WTI Short Volatility II Index. Initial strike to be set at close today. The Initial Margin on this trade is 5% of Notional. Official termsheet and confirm to follow. Trade recap: OTC index swap Buyer: Seller: Underlying: Bloomberg Ticker: Trade Date: Effective Date: Expiry Date: Resets at end of 16 Settlements: Notional: 510,000,000 IA: 5500,000 paid by SOFL on 14-Jan-2015. Up to 1.5% fees charged on exit under normal circumstances, irrespective of whether the exit is on scheduled Expiry Date or earlier Strike: Underlying closing level on Effective Date SOFL DBAG London DB Commodity WTI Short Volatility II Index DBCMWSV2 Index 13 Jan 2015 13 Jan 2015 13 Jan 2016 each calendar quarter. For clarity reset dates are: 31-Mar-15, 30-Jun-15, 30-Sep-15, 31-Dec-15, 13-Jan- T+2 Cash flows: On each reset date: Buyer receives: Notional / Strike • (Index closing level on reset date - Index closing level on previous reset date) For the first reset date, Index closing level on previous reset date - Strike Thank you for the trade, Daniel Daniel Sabba Key Client Partners Deut Tel. Mobile Email This communication may contain confidential and/or privileged information. If you are not the intended recipient (or have received this communication in error) please notify the sender immediately and destroy this communication. Any unauthorized copying, disclosure or distribution of the material in this communication is strictly forbidden. Deutsche Bank does not render legal or tax advice, and the information contained in this communication should not be regarded as such. EFTA00649505