<table><tr><th>From:</th><th>jeffrey E. &lt;jeevacation@gmail.com&gt;</th></tr><tr><td>Sent:</td><td>Tuesday, August 12, 2014 2:23 PM</td></tr><tr><td>To:</td><td>Tazia Smith</td></tr><tr><td>Subject:</td><td>Re: Indicative Levels - USDCNH 1yr Options [C]</td></tr></table>

75 million notional puts at 38 basis points

On Tue, Aug 12, 20=4 at 6:55 AM, Tazia Smith > wrote:

Classification: Co=fidential

Jeffrey-

USDCNH Ref: Spot 6.1604; Fwd 6.2723 (i.e. 101.82% of spot)

ly ATMS (6.1604) USDCNH call: 1.041%! 2.215%
ly ATMF (6.2723) USDCNH call: 1.041%! 1.190%

ly ATMF / ATMF +3% call spread: 0.469% / 0.73%

Strikes: 6.2723 /6.4605

ly ATMS (6.1604) USDCNH put: 0.256% / 0.38%

ly ATMF (6.2723) USDCNH put: 1.007%! 1.154%

Indicative levels, subject to market movement. Source: DB FX Pricer, 8/12/14

USDCNH lyr Price History

1/7171454 7990

This communication may contain confidential and/=r privileged information.

communication. Any unauthorized copying, disclosure or distribution of thec=r> 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.

=A0

please note

The information conta=ned in this communication is confidential, may be attorney-client privi=eged, may constitute inside information, and is intended only for the use of the a=dressee. It is the property of

JEE

Unauthorized use, disclosure or c=pying of this communication or any part thereof is strictly prohibitedar> and may be unlawful. If you have received this communication in error, p=ease notify us immediately by return e-mail or by e-mail to jeevacation@gmail.com, =nd destroy this communication and all copies thereof, including all attachm=nts. copyright -all rights reserved