EFTA01472072.pdf

Subject: Re: Trade Recap - 01/13/2014 - DB Sells $10mm FEDERATIVE REPUBLIC OF BRAZIL 20-Mar-2020 CDS @ 205 with SOUTHERN FINANCIAL LLC (live) [C] From: Paul Morris ‹ > Date: Mon, 02 Feb 2015 11:14:52 -0500 To: Daniel Sabba ‹ > Classification: Confidential Thanks, I'm on west coast, catch up later in week. From: Daniel Sabba Sent: Saturday, January 31, 2015 05:12 PM To: 'jeevacation@ mail.com' <jeevacation@ mail.com> Cc: ; Paul Morris; Vahe Stepanian Subject: Re: Trade Recap - 01/13/2014 - DB Sells $10mm FEDERATIVE REPUBLIC OF BRAZIL 20-Mar-2020 CDS @ 205 with SOUTHERN FINANCIAL LLC (live) [C] Classification: Confidential With petrobras downgrade, this closed at 228 / 232 on Friday. When you entered, it was 201 / 205. This is a pnl of approximately $120k. From: Daniel Sabba Sent: Tuesday, January 13, 2015 01:42 PM To: jeevacation@gmail.com <jeevacation@gmail.com> Cc: <a>; Paul Morris; Vahe Stepanian Subject: Trade Recap - 01/13/2014 - DB Sells $10mm FEDERATIVE REPUBLIC OF BRAZIL 20-Mar-2020 CDS @ 205 with SOUTHERN FINANCIAL LLC (live) [C] Classification: Confidential Jeffrey, per our phone conversation, Southern Financial LLC entered into the following credit default swap with Deutsche Bank AG, acting through its London branch. Southern Financial bought default protection from DB. The Initial Margin on this trade is 1% of Notional. Official confirm to follow. BraSov default swap with SOUTHERN FINANCIAL LLC DB Sells default protection on FEDERATIVE REPUBLIC OF BRAZIL NOTIONAL : USD 10,000,000 TRADE DATE : 13-Jan-2015 IM% : 1 EFFECTIVE : 14-Jan-2015 TERMINATION : 20-Mar-2020 REF OB : BRAZIL 12.25% OF 03/30 ISIN: US105756AL40 CREDIT EVENTS : Failure to Pay, R, Repudiation/Moratorium ISDA Definition : 2014 EFTA01472072 PRICE : 205 bps per annum (COUPON: 100 bps per annum) UPFRONT FEE : DB Receive USD 491,941 STANDARD TRADE : Yes HARDWIRING : Yes CLEARING HOUSE : No Trade details: Thank you for the trade, Daniel Daniel Sabba Key Client Partners Deutsche Bank Securities Inc. Email EFTA01472073