EFTA00670829.pdf

From: Richard Kahn To: "Jeffrey E." <jeevacation@gmail.com> Subject: Fwd: Trade Recap - 4/2/2015 - DB Commodity WTI Short Volatility H Index [C] Date: Thu, 09 Apr 2015 18:29:50 +0000 Attachments: confirmation926017511-3.pdf please advise if ok for darren to sign and have SFL settle 152,705.94 on WTI trade thank you Richard Kahn HBRK Associates Inc. 575 Lexington Avenue 4th Floor New York, NY 10022 to fa Begin forwarded message: From: Vahe Stepanian To: Darren Indyke >, Richard Kahn < Cc: Daniel Sabba < , Ariane Dwyer < Subject: FW: Trade Recap - 4/2/2015 - DB Commodity WTI Short Volatility II Index [C] Date: April 9, 2015 at 1:27:32 PM EDT Classification: Confidential Darren / Rich — please find attached termination agreement for signature. The settlement amount of $152,705.94 is included in page 1 of the confirmation. Thank you, Vahe From: Vahe Stepanlan Sent: Monday, April 06, 2015 9:49 AM To: Jeffrey Epstein Cc: Daniel Sabba; Richard Kahn; Paul Morris; Mane Dwyer Subject: RE: Trade Recap - 4/2/2015 - DB Commodity WTI Short Volatility II Index [C] Classification: Confidential Jeffrey — please find WTI short vol. settlement details: Index strike for 2Apr is 242.8579 Discount factor is 0.9994011 EFTA00670829 Southern Financial pays USD 152,705.94 to DB Settlement date: 7 Apr 2015 Thank you, Vahe From: Vahe Stepanian Sent: Thursday, April 02, 2015 3:00 PM To: Jeffrey Epstein Cc: Daniel Sabba; 'Richard Kahn'; Paul Morris; Ariane Dwyer Subject: Trade Recap - 4/2/2015 - DB Commodity WTI Short Volatility II Index [C] Classification: Confidential Jeffrey — today we unwound your DB Commodity WTI Short Volatility II Index position per your instructions. Trade recap: SOFL unwinds the REFERENCE trade noted below at the close today. Unwind Date: 2 Apr 2015 Final payment will be computed as: DB pays: Notional / Strike * Index closing level on Unwind Date — Index closing level on Last Reset Date ] * Discount Factor — Bid/Offer Cost If this number is negative, then SOFL will pay the absolute value of this number. Notional: $10,000,000 Strike: 255.8709 Last Reset Date: 31 Mar 2015 Index closing level on Last Reset Date: 243.5748 Discount Factor: Discount factor between Unwind Date and next scheduled reset date (6/30/15), per LIBOR flat curve Bid/Offer Cost: Latest Reset Notional * 1.31% ($124,704.68) Index level is known only late in the evening. Tomorrow is a commodities holiday, so payment will be computed on Mon morning. Settlement Date: 7-Apr-15. I've attached the original trade confirm for your reference. Thank you, Vahe From: Daniel Sabba Sent: Tuesday, January 13, 2015 3:13 PM To: .eevacationagmail.com Cc: ; Paul Morris; Vahe Stepanian Subject: Trade Recap - 01/13/2015 - DB Commodity WTI Short Volatility II Index [C] 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. EFTA00670830 Trade recap: OTC index swap Buyer: SOFL Seller: DBAG London Underlying: DB Commodity WTI Short Volatility II Index Bloomberg Ticker: DBCMNSV2 Index Trade Date: 13 Jan 2015 Effective Date: 13 Jan 2015 Expiry Date: 13 Jan 2016 Resets at end of each calendar quarter. For clarity reset dates are: 31-Mar-15, 30-Jun- 15, 30-Sep-15, 31-Dec-15, 13-Jan-16 Settlements: T+2 Notional: $10,000,000 IA: $500,000 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 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 Deutsche Bank Securities Inc. Tel. Mob Erna' 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. EFTA00670831