Subject: FW: Coned and GE throw h TRS [C]
From: Paul Morris
Date: Wed, 28 Jan 2015 10:23:58 -0500
To: Stewart Oldfield ‹ >
Classification: Confidential
Paul Morris
Managing Director
Deutsche Bank Private Bank
Office:
Cell:
From: Daniel Sabba
Sent: Wednesday, January 28, 2015 9:54 AM
To: jeffrey E.
Cc: Vahe Stepanian; Paul Morris; Richard Kahn
Subject: Coned and GE through TRS [C]
Classification: Confidential
Jeffrey,
Per Rich's suggestion, we priced long TRSs for GE and ConEd (without the
sale of a call option). We could provide the same financing terms on a $20mm
notional equivalent (1mL+75bps, with $0.03 commissions in and out). The IA
for these names would be 20%. As discussed, you could use equities at a 50%
haircut as this IA.
GE and ED have had high dividend history (GE has a 12m yield of 3.67% and
ED, 3.51%).
EFTA01404852
Regards,
Daniel
Daniel Sabba
Key Client Partners
Deutsche Bank Securities Inc.
Tel.
Mobil
Email
EFTA01404853
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