# Profoundd archive — Epstein Files
# Bates number: EFTA01456557
# Title:        From: Paul Morris
# Dataset:      10
# Pages:        1
# Tags:         epstein, doj, dataset-10
# Source PDF:   https://profoundd.com/epstein-docs/EFTA01456557/download
# Doc viewer:   https://profoundd.com/epstein-docs/EFTA01456557
#
# Text below is what Profoundd has extracted from the source PDF.
# 'ocr-enriched' tag means OCR was applied to scan-only pages.
# Image descriptions are AI-generated factual captions (llava:13b).
#----------------------------------------------------------------------

=== SUMMARY ===
From: Paul Morris Sent: 2/2/2035 11:14:52AM To: Daniel Sabba Subject: Re: Trade Recap - 01/13/2014 - DB Sells $lOmm FEDERATIVE REPUBLIC OF BRAZIL 20-Mar-2020 CDS @ 205 with SOUTHERN FINANCIAL LLC (live) (CI 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@gmail.com' <jeevacation@gmail.com> Cc: >; Paul Morris; Vahe Stepanian Subject: Re: Trade Recap - 01/13/2014 - DB Sells $10mm FEDERATIVE


=== EXTRACTED TEXT ===
From: Paul Morris 
Sent: 2/2/2035 11:14:52AM 
To: Daniel Sabba 
Subject: Re: Trade Recap - 01/13/2014 - DB Sells $lOmm FEDERATIVE REPUBLIC OF BRAZIL 20-Mar-2020 CDS @ 205 with 
SOUTHERN FINANCIAL LLC (live) (CI 
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@gmail.com' <jeevacation@gmail.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: ; 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 
IM2 : 1 
EFFECTIVE : 14-Jan-2015 
TERMINATION : 20-Mar-2020 
REF OB : BRAZIL 12.25% OF 03/30 ISIN: U5105756AL40 
CREDIT EVENTS : Failure to Pay, R, Repudiation/Moratorium 
ISDA Definition : 2014 
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 
CONFIDENTIAL — PURSUANT TO FED. R. GRIM. P. 6(e) DB-SDNY-0 115795 
CONFIDENTIAL SDNY_GM_00261979 
EFTA01456557