<table><tr><th>From:</th><th>Tazia Smith</th></tr><tr><td>Sent:</td><td>Tuesday, August 12, 2014 2:25 PM</td></tr><tr><td>To:</td><td>jeevacation@gmail.com</td></tr><tr><td>Subject:</td><td>Re: Indicative Levels - USDCNH 1yr Options [C]</td></tr></table>

Classification: Confidential

understood, will bid there at 38bps

Tazia Smith
Director ] Key Client Partners - US

## DB Securities Inc

Deutsche Asset & Wealth Management

Email tazia.smith@db.com <mailto:

From: "jeffrey E." <jeevacation@ mail.com> To: Tazia Smith/db/dbcom@ Date: 08/12/2014 10:23 AM Subject: Re: Indicative Levels - USDCNH 1yr Options [C]

75 million notional puts at 38 basis points

On Tue, Aug 12, 2014 at 6:55 AM, Tazia Smith > wrote: Classification: Confidential

Jeffrey -

## DB Securities Inc (cont.)

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

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

1y ATMS (6.1604) USDCNH call: 1.041% / 2.215% 1y ATMF (6.2723) USDCNH call: 1.041% / 1.190%

1y ATMF / ATMF +3% call spread: 0.469% / 0.73%
Strikes: 6.2723 /6.4605

1y ATMS (6.1604) USDCNH put: 0.256% / 0.38% 1y ATMF (6.2723) USDCNH put: 1.007% / 1.154%

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

USDCNH 1yr Price History

Tazia Smith
Director | Key Client Partners - US

DB Securities Inc
Deutsche Asset & Wealth Management
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## DB Securities Inc (cont.)

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