EPSTEIN
page 4 / 823 . OCR, unverified
D
343,781.67
D
141,877.10
D
173,814.65
D
.00
M
73,345,072.55
M
2,003,435.32
M
2,003,358.49
M
1,000,940.03
M
.00
If need help please contact pbrd_admin@list.db.com
Thank you
EFTA01473600
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Subje •
r SOUTHERN FINANCIAL, LLC as at 18 Jun 2015 - Request 182298
From:
Date:
.
.
-0400
To:
Dear Sir/Madam,
Please find attached the valuation as of the value date specified in the attached statement.
For queries please contact the number provided on the statement.
Kind regards,
Deutsche Bank Group
Customer Valuations Group
This is an automated email account. Please do not reply to this email as the account is not monitor
ed.
Valuations are sent to you subject to our Valuation Disclosure statement.
We also direct you to the following additional disclosures:
In reference to the provision of valuations for daily marks: http://cbs.db.com/new/does/Daily_Mark_M
ethodologies_and_Assumptions_Disclosure_March_28_2013_(2).pdf
In reference to the provision of portfolio data and dispute resolution under EMIR: http:/
/new/docs/Valuation_Statement_-_EMIR_Language_1309.pdf
182298_20150618_20150619_1
80963666
EFTA01473601
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METADATA_SOURCE: IMAGES0091
METADATA_FILENAME: EFTA01473602.pdf
----------------------------------------
Deutsche Bank Group Valuation Statement
Request 182298
Jun 2015
SOUTHERN FINANCIAL, LLC
As of 18 Jun 15
Deutsche Bank AG
D
For Sales Inquiries C
aniel Sabba (Tel) +1
•
(Email)
For questions relating to this statement contact:
Valuations NY (Tel) 1-212-250-2600 (Email) valuations.ny@db.com
SOUTHERN FINANCIAL, LLC
To:
Jabwcpa Gmail (Email)
,Richard Kahn12 (Email)
,Hnw Clientservices (Email)
hnw.clientservices@db.com,Gedeon Pinedo (Email)
Vahe
Stepanian (Email)
,Mark Whyman (Email)
Amanda Kirby
(Email)
,Paul Morris (Email)
,Daniel
Sabba (Email)
,Ariane Dwyer (Email)
Fx Rates:
USD/EUR = .8770006578
Page 1 Of 3
Note:-All Values are shown from the DB Group's point of view. A negative
Value therefore expresses an amount which is in your favour, while a
positive amount is one which is in DB Group favour. The terms and conditions
of each transaction are specified in the
relevant trade Confirmation.
Deutsche Bank Group ("DB") is providing the valuations set forth above as an
accommodation to you solely for your own internal use. Unless expressly
stated otherwise, valuations represent DB's current economic assessment of
the transaction or instrument as
of the date specified. DB's economic assessment is typically derived all or
in part from model prices, external sources, market prices and/or DB's
internal books and records prices. Valuations may be adjusted to take into
account market, liquidity, credit,
operational or other risks, and/or to reflect adjustments based upon our
willingness to unwind all or part of your position or revenue that has been
generated but not yet recognized by DB ("Premium Adjustments"). Such Premium
Adjustments will generally
always decline over time, as DB's appetite to unwind at a premium will
generally decline over time, which will lead to lower valuations in the
absence of changes in market conditions. Valuations, including those
containing Premium Adjustments, may not
represent the terms at which new transactions or instruments could be
entered into with DB or the terms at which existing transactions or
instruments could be liquidated or unwound with DB. DB may change its
valuation methodology and the related
adjustments and assumptions at any time, so that future valuations may be
less favourable than the current ones, even in the absence of an adverse
development in market conditions. Valuations based on different assumptions
EFTA01473602
--- PAGE 2 ---
or calculated using other
methodologies may also yield different results and any adjustments may not
apply for the duration of the transaction or instrument. Any subsequent
valuations provided to you will almost certainly differ from this valuation.
This difference can be less favourable to
you, and due to the volatility of market conditions, the size or notional
amount of the decrease or increase and other factors, the differential could
be substantial. DB shall not be liable for any errors or omissions made in
calculating or disseminating valuations, or
for any inaccuracies or flaws in the methodologies, adjustments or
assumptions. DB specifically disclaims liability for any losses or damages
(incidental, consequential or otherwise) that may arise from valuations that
are either used or relied upon by you or any
other party for any reason including, without limitation, your use of
valuations in preparation of your own financial books and records.
Statement ID : 182298 28158618 28150619 1
EFTA01473603
--- PAGE 3 ---
Deutsche Bank Group Valuation Statement