Subject: RE: Energy Renaissance E uities + Trade idea: KI Brent puts [C)
From: Tazia Smith <
Date: Mon, 03 Mar 2014 14:32:52 -0500
To:
Cc:
Paul Morris
Vahe Stepanian <
Classification: Confidential
Yes, will do - thanks Jeanne!
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Tazia Smith
Director I Key Client Partners - US
Deutsche Bank Securities Inc
Deutsche Asset & Wealth Management
345 Park Avenue, 26th Floor
New York NY 10154
Tel.
Fax
Mobile
Email
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From: "Jeanne Brennan" <
To: Tazia Smith/db/dbcom@DBAMERICAS,
Cc:
Date: 03/03/2014 02:04 PM
Subject: RE: Energy Renaissance Equities + Trade idea: KI Brent puts [C]
Tazia,
EFTA01467440
Will you add Rich Kahn to these emails.
I have cc'd him so you have his email.
Thanks
Jeanne
From: Tazia Smith [mailto:
Sent: Monday, March 03, 2014 2:50 PM
To: jeevacation@gmail.com
Cc: Paul Morris; Vinit Sahni; Nav Gupta; Vahe Stepanian;
Subject: Energy Renaissance Equities + Trade idea: KI Brent puts [C)
Classification: Confidential
* * Prepared exclusively for Jeffrey Epstein - KCP US * *
Jeffrey -
For Energy, consider these percentages below (modification from within the
proposed Energy Renaissance basket). Note, Sunedison (SUNE) rallied 28% over
the back half of last month, believe the bulk of the steam is out of that one,
but you may disagree and want to play that momentum. Hannon Armstrong (HASI)
looks compelling on weakness (just macro backdrop) here; this company is
effectively a publically traded energy retrofit finance co., or, as the
company calls itself "sustainable infrastructure capital", with a -6.3%
current yield with the shares at -$14. Approach Resources (AREX) also
reported a strong quarter (see chart below, still interesting); this is a
small-cap ($879mm market cap) US nat gas/crude E&P name.
Also below is a short play on Brent (depending on your view):
It's a 107 strike put on Jul14 Brent crude (thus expires in June, -3mos).
Spot ref for Ju114 crude is 110.6 (thus in-the-money strike), but the put
Knocks-In, only if crude trades above 114 over the next 1-month, $0.85/bbl
offer (compared to $2.70/bbl vanilla). 113 and 115 KI are also provided below
from our Commods team. Indicative levels only, subject to market movement,
source: DB ICG Commodities, 3/3/14.
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Source: Bloomberg 3/3/14
Forwarded by Tazia Smith/db/dbcom on 03/03/2014 01:05 PM
From: Jatin Bindal/db/dbcom@DBCOEX
To: ICG Commodities,
Cc: Ricardo Cunha/db/dbcom@DBAmericas, Tazia Smith/db/dbcom@DBAMERICAS,
Commodity Structuring_Assets, CCRT Corr
Date: 03/03/2014 09:04 AM
EFTA01467441
Subje Trade idea: Brent puts [C]
ct:
Classification: Confidential
Trade idea: Brent KI put
Underlying: Ju114 Brent (C0N4)
Ju114 Ref: 110.6
Rationale: near term spike due to events in Ukraine followed by decline
1) Vanilla 107 put offered @$2.70/bbl
2) KI Put
107 put. Knocks in only if Ju114 settles above $114 on any day in the next 1
month. Offered @$0.85/bbl
For KI Barrier 113, offered @$1.35
For KI Barrier 115, offered @$0.60
Prices are indicative and will need to be refreshed before trading.
Brent Ju114 price history over last 1 month -
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Thanks
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Tazia Smith
Director I Key Client Partners - US
Deutsche Bank Securities Inc
Deutsche Asset & Wealth Management
345 Park Avenue, 26th Floor
New York, NY 10154
IIM
Tel.
Fax
Mobile
Email
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EFTA01467442
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EFTA01467443