EFTA01200026Set 9
2015-01-052p413w
Inline-Images: unnamed; unnamed(I)
Classification: Confidential
Jeffrey - per our chat, please see USDBRL chart attached for the past 5 years.
2.8000
2.7060
2.6000
T High on 12/16/14 ... Classification: Confidential
Jeffrey,
Happy new year.This idea looks particularly interesting to USDBRL. Indicative pricing and rationale below:
Notional: USD 10mm
Expiry: 6m
Client buys USDBRL put / sells USDBRLcall
Put strike ... historical price chart below)
• Affected commodity linked currency pairs include AUDUSD, USDBRL, USDCAD, USDMXN, and USDNOK
• Premium neutral bullish risk reversals on commodity currencies can take advantage of implied
https://www.justice.gov/epstein/files/DataSet%209/EFTA01200026.pdf
EFTA01465550Set 10
2013-04-0528p7,280w
Valuation Date:
EFTA01465550
Maturity Date:
Payment at Maturity:
Brazilian Real per one U.S. Dollar ("USDBRL")
$1,000 per Note.
-15%
April 5, 2013
April 5, 2013
April 12, 2013
April ... Rate:
The Spot Rate for the Brazilian real relative to the U.S. dollar (the
"USDBRL") on each date
of calculation will be the U.S. dollar/Brazilian real exchange rate,
expressed ... BRFR" to the right of the caption "Dollar PTTAX", or any successor
page. The
USDBRL shall be calculated to the fourth decimal place.
Initial Spot Rate:
Final Spot Rate:
Calculation
https://www.justice.gov/epstein/files/DataSet%2010/EFTA01465550.pdf
EFTA01465578Set 10
2013-03-1322p7,232w
Date:
Payment at Maturity:
EFTA01465578
HSBC USA Inc.
Brazilian Real per one U.S. Dollar ("USDBRL")
$1,000 per Note.
-15%
March 13, 2013
March 13, 2013
March 20, 2013
March ... Rate
The Spot Rate for the Brazilian real relative to the U.S. dollar (the
"USDBRL") on each date of calculation will be the U.S.
dollar/Brazilian real exchange rate, expressed ... BRFR" to the right of the caption
"Dollar PTTAX", or any successor page. The USDBRL shall be calculated to the
fourth decimal place.
Initial Spot Rate:
Final Spot Rate:
Calculation
https://www.justice.gov/epstein/files/DataSet%2010/EFTA01465578.pdf
EFTA01462287Set 10
2014-12-161p230w
07/26/11 1.5391 2.4000
2.2000
2.0000
1.8000
1.6000
2010 2011 2012 2013 2014
USDBRL Curacy (L5D-BRL X-RATE) Daily 05JAN2010-05JAN2015 CopyrightA 2015 Bloomberg Finance ... Classification: Confidential
Jeffrey,
Happy new year.This idea looks particularly interesting to USDBRL. Indicative pricing and rationale below:
Notional: USD 10mm
Expiry: 6m
Client buys USDBRL put / sells USDBRLcall
Put strike ... historical price chart below)
• Affected commodity linked currency pairs include AUDUSD, USDBRL, USDCAD, USDMXN, and USDNOK
• Premium neutral bullish risk reversals on commodity currencies can take advantage of implied
https://www.justice.gov/epstein/files/DataSet%2010/EFTA01462287.pdf
EFTA01197918Set 9
2015-01-052p336w
Inline-Images: unnamed
Classification: Confidential
Jeffrey,
Happy new year.This idea looks particularly interesting to USDBRL. Indicative pricing and rationale below:
Notional: USD 10mm
Expiry: 6m
Client buys USDBRL put / sells ... historical price chart below)
• Affected commodity linked currency pairs include AUDUSD, USDBRL, USDCAD, USDMXN, and USDNOK
• Premium neutral bullish risk reversals on commodity currencies can take advantage of implied ... sells foreign currency put)
• Looking at volatility adjusted skew amongst commodity currencies, current USDBRL levels provide a compelling entry
point into premium neutral risk reversals.
Commodity Currencies
https://www.justice.gov/epstein/files/DataSet%209/EFTA01197918.pdf
EFTA01462284Set 10
2015-01-051p269w
Classification: Confidential
Jeffrey,
Happy new year.This idea looks particularly interesting to USDBRL. Indicative pricing and rationale below:
Notional: USD 10mm
Expiry: 6m
Client buys USDBRL put / sells USDBRLcall
Put strike ... historical price chart below)
• Affected commodity linked currency pairs include AUDUSD, USDBRL, USDCAD, USDMXN, and USDNOK
• Premium neutral bullish risk reversals on commodity currencies can take advantage of implied ... sells foreign currency put)
• Looking at volatility adjusted skew amongst commodity currencies, current USDBRL levels provide a compelling
entry point into premium neutral risk reversals.
Commodity Currencies
https://www.justice.gov/epstein/files/DataSet%2010/EFTA01462284.pdf
EFTA01344657Set 10
2013-04-051p267w
Attachments: pic15670.gif; pic04291.gif; pic26430.gif
Classification: Confidential
Jeffrey -
EM responding well to FOMC decision.
USDBRL off its lows back at —2.32. Your barriers ... USDBRL Intraday Price Action 12/18/13:
(Embedded image moved to file: pic15670.gif)
used with permission of Bloomberg Finance LP
From: Tazia smith/db/dbcom
To: jeevacation@gmail.com,
Cc: Paul Morris, vahe stepanian/db/dbcomODBAmericas
Date: 12/17/2013 ... 3/20/14 Note - marking down, -.12%. 15% european barrier (= 2.2562).
Initial strike 1.9619. Current USDBRL spot —2.3267, -18%.
(2) 4/14/14 Note - marking down -19%. 15% european barrier (=2.3040).
Initial strike
https://www.justice.gov/epstein/files/DataSet%2010/EFTA01344657.pdf
EFTA01351275Set 10
2013-12-183p387w
Paul Morris <
Vahe Stepanian
Classification: Confidential
Jeffrey -
EM responding well to FOMC decision.
USDBRL off its lows back at -2.32. Your barriers ... USDBRL Intraday Price Action 12/18/13:
(Embedded image moved to file: pic15670.gif)
Used with permission of Bloomberg Finance LP
From:
To: jeevacation@gmail.com,
Cc: , Paul Morris,
as
Date: 12/17/2013 ... 3/20/14 Note - marking down, -22%. 15% european barrier (= 2.2562).
Initial strike 1.9619. Current USDBRL spot -2.3267, -18%.
(2) 4/14/14 Note - marking down -19%. 15% european barrier (=2.3040).
EFTA01351275
Initial strike
https://www.justice.gov/epstein/files/DataSet%2010/EFTA01351275.pdf
EFTA01462286Set 10
2014-11-021p187w
historical price chart below)
• Affected commodity linked currency pairs include AUDUSD, USDBRL, USDCAD, USDMXN, and USDNOK
• Premium neutral bullish risk reversals on commodity currencies can take advantage of implied ... sells foreign currency put)
• Looking at volatility adjusted skew amongst commodity currencies, current USDBRL levels provide a compelling
entry point into premium neutral risk reversals.
Commodity Currencies ... 9/21/014 10•21.t014 II/It/014 Iliti/011 I it.flaIS
Cano
Other commodity currencies: While for USDBRL call strike is about 14% away from spot while put is about 1% away
https://www.justice.gov/epstein/files/DataSet%2010/EFTA01462286.pdf
EFTA01450392Set 10
2008-04-041p452w
relative to the U.S. Dollar from April 4, 2008 through April 4, 2013. The USDBRL exchange rate on April 4, 2013 was
2.0141. We obtained the exchange rates below from ... Rate
The Spot Rate for the Brazilian real relative to the U.S. dollar (the "USDBRL") on each date of calculation will be the U.S.
dollar/Brazilian real exchange rate, expressed ... LiRFR- to the right of the caption "Dollar vrrAx-, or any successor page. "Ilie USDBRL
shall be calculated to the fourth decimal place.
If the Spot Rate is unavailable (including
https://www.justice.gov/epstein/files/DataSet%2010/EFTA01450392.pdf
EFTA01344613Set 10
2008-04-041p452w
relative to the U.S. Dollar from April 4, 2008 through April 4, 2013. The USDBRL exchange rate on April 4, 2013 was
2.0141. We obtained the exchange rates below from ... Rate
The Spot Rate for the Brazilian real relative to the U.S. dollar (the "USDBRL") on each date of calculation will be the U.S.
dollar/Brazilian real exchange rate, expressed ... LiRFR- to the right of the caption "Dollar vrrax-,or any successor page. "Ilie USDBRL
shall be calculated to the fourth decimal place.
If the Spot Rate is unavailable (including
https://www.justice.gov/epstein/files/DataSet%2010/EFTA01344613.pdf
historical price chart below)
Affected commodity linked currency pairs include AUDUSD, USDBRL, USDCAD,
USDMXN, and USDNOK
Premium neutral bullish risk reversals on commodity currencies can take
advantage of implied ... sells foreign currency put)
Looking at volatility adjusted skew amongst commodity currencies, current
USDBRL levels provide a compelling entry point into premium neutral risk
reversals.
(Embedded image moved to file ... pic02959.gif)
other commodity currencies: while for USDBRL call strike is about 14% away
from spot while put is about 1% away, for USDMXN the call strike would be
approximately
https://www.justice.gov/epstein/files/DataSet%2010/EFTA01462289.pdf
EFTA00631718Set 9
2015-03-173p515w
increase since we put it on at 201 / 205.
USDBRL at 3.27. It is a 24% move since CDS trade date, when USDBRL was at 2.64.
From: Daniel Sabba
Sent ... Latam Sy CDS Run [C]
Classification: Confidential
Brazil CDS at 307 / 313.
USDBRL at 3.1915.
From: Daniel Sabba
Sent: Tuesday, March 10, 2015 4:44 PM
To: leevacation@gmail.com'
Cc: Vahe
https://www.justice.gov/epstein/files/DataSet%209/EFTA00631718.pdf
EFTA01378488Set 10
2016-10-071p419w
6o/6N
—4.-13506FIL • 3.6, Brent • $6$A0 -0-1.506111 @ 3.6. Brent Or $65/146 - USDBRL @ 34. Brent @ $65/66
60 60 64
SA 60 54
4.0 4.0 4.0
it • 3.0
201SE ... Brent 545/661 p. USCPM. 04 2. Brent • SASA0 et • USOBRL 144. Bea@ $4S/bb'
-e-USDBRL @ 4.0. Brent @ 850/W -a- ushiski.• 4.2. *rat # 550rabt - e-USOBRIO 4.4. Welt ... Brent • $55/60 -le-USOCIRI. @ A 2. Brent • $55,b0 -s-USDBRL @AA Brent @$55/blyl
—0-65089$ 04.0. Brent fi $60/MS P-USE904 Q42, Pert 0 $6040 U6083104 4, Brent
https://www.justice.gov/epstein/files/DataSet%2010/EFTA01378488.pdf
EFTA01435723Set 10
2018-06-042p420w
Subject: USDBRL Idea/Axe
From: Martin Zeman <
Date: Mon, 04 Jun 2018 09:24:22 -0400
To: "Paul Barrett (
Cc: Xavier Avila
Davide-A Sferrazza <MORWMPRIPAMPRIONWIMPRIMM,
Stewart Oldfield
Paul,
I think ... this trade makes sense:
Ever since we sent the recommendation to buy ly USDBRL riskies back in mid
April, they have come a long way. From ... rather, they sell enough USD
via the swaps (750 per day) anytime USDBRL seems headed towards 3.80.
The 4m expiry is pre elections, and the 25d r/r have gone from
https://www.justice.gov/epstein/files/DataSet%2010/EFTA01435723.pdf