From: jeffrey E. <jeevacation@gmail.com> Sent: Thursday, September 11, 2014 11:50 PM To: Tazia Smith Subject: Re: Hard Asset Put (Cl

ok

On Thu, Sep 11, 2014 at 7:37 PM, Tazia Smith

>

wrote:

Classi=ication: Confidential

London trader out tmw - Monday 9am EST works.=Lesley said that works. OK with you?

Tazia =mith
Director
Key Client Partners - US

Deutsche Bank Securiti=s, Inc. Deutsche Asset & Wealth Management 345 Park Avenue - 26t= Floor

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From: "jeffrey E." [jeevacation@gmail.com] Sent: 09/11/2014 04:23 PM AST To: Tazia Sm=th Subject: Re: Hard Asset Put [C]

tomorw

On Thu, Sep 11, 2014 at 4:21 PM, Tazia Smith

> wrote:

Classification: Confidential

Jeffrey-

We wanted to get your feedback on a structure that we've used to convert an existing liability into an asse= for a qualified client - specifically premium collected by a client for selling a put on an underlying hard asset. In this specific case, it is the property in France that we talked about, but a transportation asset was the underlier of a prior solution and we could foresee this applying to a variety of leveragable assets (art, etc). I know Paul already discussed this with you. This solution potentially works for small subset of qualified clients (qualified from a sophistication and liquidity perspective). =ould like to discuss the general structure further with you - will directly link to trader on this or prior transaction. When works to through this together and get your thoughts?

let us know,

Tazia & Paul

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�=AO

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please note

The information co=tained in this communication is confidential, may be attorney-client pr=vileged, may constitute inside information, and is intended only for

JEE

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