EFTA02371600.pdf

"From: Daniel Sabba Sent: Thursday, March 19, 2015 12:02 PM To: [email protected]"

"From: jeffrey E. Sent: Sunday, March 15, 2015 7:45 AM To: Daniel Sabba"

"Many drivers led us to the CDS expression, particularly the fact that the problems in brazil would cause deterioration of credit fundamentals."

"USDBRL moved from 2.64 to 3.27, a 24% move from the date we put the CDS trade on."

"the brl trade would have made a great deal of money., again we screwd"

"Deutsche Bank does not render legal or tax advice, and the information contained in this communication should not be regarded as such."