The document discusses a financial strategy involving a European style digital binary option on EURUSD, struck 5% below the spot rate. The option is considered inexpensive due to low FX volatility and diverging central bank policies. It also mentions a potential investment in Nationwide (UK Building Society) 6.875% perpetual bonds, which are likely to be called in 5 years.
doj/DataSet10/EFTA01453913.pdf
{"key_people":["Yellen"],"document_type":"correspondence","key_locations":["UK","US"],"key_organizations":["Nationwide (UK Building Society)","European Bank"]}