TCREUR_Public/160222.mbx         T R O U B L E D   C O M P A N Y   R E P O R T E R

                           E U R O P E

          Monday, February 22, 2016, Vol. 17, No. 036


                            Headlines


C Z E C H   R E P U B L I C

NEW WORLD: Czech Government Won't Help Avert Insolvency


F R A N C E

FINANCIERE DAUNOU: Moody's Affirms 'B3' Corporate Family Rating
RENAULT SA: Moody's Hikes Sr. Unsec. Instrument Ratings From Ba1
SOLOCAL GROUP: Moody's Lowers CFR to Caa2, Outlook Negative


G E R M A N Y

GERMAN PELLETS: Insolvency Administrator Explores Funding Options
INFINITY 2007-1: Fitch Affirms 'Csf' Ratings on 2 Note Classes


I R E L A N D

* IRELAND: Number of Hotels at Risk of Insolvency Down 21%


I T A L Y

QUOTIDIANO IL TEMPO: March 1 Expressions of Interest Deadline Set
* Italian Gov't Implements New Measures on Bank NPL Disposal


N E T H E R L A N D S

DUCHESS CLO VI: Moody's Hikes Class E Notes' Rating to Ba1(sf)
MESDAG BV: Fitch Affirms 'Dsf' Ratings on Two Note Classes


N O R W A Y

HAVILA SHIPPING: Operations to Continue Amid Creditor Talks


P O R T U G A L

BANCO ESPIRITO: PM Criticizes Central Bank Over Compensation
METROPOLITANO DE LISBOA: S&P Affirms 'BB+' Issuer Credit Rating


R U S S I A

ALFASTRAKHOVANIE PLC: Fitch Affirms BB Financial Strength Rating
FIRST CONTAINER: Fitch Assigns Final 'BB' Senior Unsecured Rating
PHOSAGRO OJSC: Fitch Affirms 'BB+' LT FC Issuer Default Rating
RUSSIA: S&P Affirms 'BB+/B' Sovereign Credit Ratings
RUSSIA: Moody's Says Bankruptcy Law Won't Hit RMBS, ABS

SME BANK: S&P Lowers ICRs to 'BB-' Over Ownership Change
TULA CITY: Fitch Assigns 'BB-' LT Currency Issuer Default Ratings


S P A I N

AYT CAIXA LAIETANA I: Fitch Affirms 'CCCsf' Rating on Cl. D Notes


U N I T E D   K I N G D O M

ECO-BAT TECHNOLOGIES: Moody's Cuts Corporate Family Rating to B2
PENDRAGON PLC: S&P Affirms 'BB-' LT Corporate Credit Rating
POWA TECHNOLOGIES: In Administration, 311 Jobs at Risk
PRIORY GROUP: Fitch Withdraws 'B+' LT Issuer Default Rating
RILEY BROTHERS: Owes GBP1 Million at Time of Administration


X X X X X X X X

* Fitch Says 2016 AT1 Issuance Suffers in Volatile Markets
* BOND PRICING: For the Week February 15 to February 19, 2016


                            *********


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C Z E C H   R E P U B L I C
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NEW WORLD: Czech Government Won't Help Avert Insolvency
-------------------------------------------------------
Robert Anderson at bne IntelliNews reports that the Czech
government has warned creditors of New World Resources that it is
not prepared to step in to prevent the stricken coal mining group
from being declared insolvent.

"There is no willingness [on the part of the government] to give
money to the company," Economy Minister Jan Mladek told bne
IntelliNews in an interview on Feb. 18.  "They [the company] are
pretending that they will be given some money.  They are taking
[our stance] as a kind of bluff -- it isn't a bluff."

Mr. Mladek, as cited bne IntelliNews, said instead that it was up
to bondholders of London-listed NWR -- who he said were now
calling the shots at the coal miner -- to provide enough funds
for it to continue as a going concern.  Otherwise, the government
was prepared to let the company go into court-supervised
reorganization proceedings, bne IntelliNews notes.

The Social Democrat minister said bondholders had proposed in
December that they would inject more money if the government
would commit EUR150 million, but he reiterated that the cabinet
had not given him the mandate to reach this kind of deal, bne
IntelliNews relays.

According to bne IntelliNews, NWR has said that it could run out
of cash in the third quarter of this year unless coal prices
dramatically recover.

New World Resources Plc is the largest Czech producer of coking
coal.



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F R A N C E
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FINANCIERE DAUNOU: Moody's Affirms 'B3' Corporate Family Rating
---------------------------------------------------------------
Moody's Investors Service affirmed Financiere Daunou 1 SA (Global
Closure Systems) corporate family rating (CFR) at B3, probability
of default ratings (PDR) at B3-PD, and the rating of the EUR350
million of senior secured notes due 2018 at B2 assigned at GCS
Holdco Finance I SA. Moody's also changed the outlook on all
ratings to positive from stable.

RATINGS RATIONALE

The change of the outlook to positive reflects (1) the announced
acquisition by RPC, a UK-based plastic products design and
engineering company as well as (2) the operating improvements
achieved in 2015 with increased profitability and cash flow
generation.

In December 2015, RPC announced the acquisition of Global Closure
Systems for an enterprise value of EUR650 million. Moody's views
the acquisition as credit positive for Global Closure Systems
that will be integrated into a group benefiting from a larger
scale, a strong international reach and with a less leveraged
capital structure. RPC intends to fund the acquisition via a
mixture of debt and equity. Moody's estimates that the leverage
of the new consolidated group would be materially lower than
Global Closure Systems' expected leverage at year-end 2015 of
around 5.0x-5.5x.

For the full year ended 31 December 2015, Moody's expects Global
Closure Systems to display improved metrics compared to the
previous year with adjusted EBITDA margin and EBITDA/interest
expense around 17% and 2.5x respectively compared with 15.6% and
2.0x in 2014. Moody's also expects the Free Cash Flow (FCF) to
improve and the FCF/debt to be slightly positive around 5%. For
2016, Moody's expects the company to maintain similar credit
metrics, on a standalone basis.

More broadly, GCS's CFR reflects (1) the company's good
diversification across six business segments: beverages, personal
care, household, food, pharmaceutical, and wine and spirits; (2)
its leading market position in Europe in plastic closures and
dispensing systems; (3) the favorable evolution of its product
mix towards more innovative and added-value products; (4) its
longstanding commercial relationships serving top tier
multinationals in each business segment; (5) worldwide
manufacturing locations, with a total of 23 facilities located
close to end-users' production lines and spread over 13
countries; and (6) its contractual ability to pass on main raw
material price increases.

However, the ratings remain constrained by (1) the company's high
albeit decreasing financial leverage, with deleveraging prospects
constrained by the capitalization of the Second Lien notes
interest; (2) its relatively small size compared with its main
international competitors; (3) significant geographic
concentration in Europe; (4) material pricing pressure driven by
a customer base consisting of large and powerful multinational
firms, and strong competition in all of the company's markets;
(5) significant input cost sensitivity, particularly to the price
of resin and (6) limited although improving free cash flow
generation, partially owing to heavy research and development and
capex needs to support innovation.

Liquidity Profile

Moody's considers GCS's liquidity position to be good. As of 30
September 2015, GCS's liquidity was supported by approximately
EUR77 million of cash at hand and a EUR40 million revolving
credit facility (RCF), which was fully undrawn except for
approximately EUR3 million of letters of credit. Since the
capital structure does not include any debt amortization, GCS's
liquidity will mainly support working capital movements, debt
service (consisting of the senior secured notes cash coupon
payment) and capital investments. Moody's expects GCS to generate
positive FCF in 2016 and 2017.

WHAT COULD CHANGE THE RATINGS UP/DOWN

Positive rating pressure could arise from (1) an improvement in
margins leading to higher cash flow generation; and (2) a
sustainable reduction in GCS's Moody's-adjusted leverage ratio to
below 6.0x.

Conversely, negative rating pressure could arise as a result of
(1) stronger competition leading to a loss of market share in
Europe (loss of volume); (2) a sustained spike in input costs,
which would reduce the company's margins; (3) negative FCF that
is likely to remain sustained; and (4) a Moody's-adjusted
debt/EBITDA ratio rising towards 7.0x.

Financiere Daunou 1 S.A. is the holding company of Global Closure
Systems (GCS), a Paris-based global manufacturer of plastic
closures and dispensing systems for consumer products, which
serves six main end markets. The company is located in 13
countries, operating 21 manufacturing facilities and two mould
design and assembly factories. For 2014, GCS reported revenues of
EUR590 million and EBITDA (after Moody's adjustments) of EUR94
million. The company is almost wholly owned by funds advised by
the private equity firm PAI partners (95.7%), the remainder being
owned by the management (0.6%) and funds affiliated to KKR
(3.7%).


RENAULT SA: Moody's Hikes Sr. Unsec. Instrument Ratings From Ba1
----------------------------------------------------------------
Moody's Investors Service has upgraded to Baa3 from Ba1 the
senior unsecured instrument ratings assigned to Renault S.A.,
Europe's third-largest car manufacturer. Concurrently, Moody's
has upgraded the company's Commercial Paper rating to Prime-3
from Not-Prime, the senior unsecured MTN programme ratings to
(P)Baa3/(P)P-3 from (P)Ba1/(P)NP and assigned a Baa3 long-term
senior unsecured issuer rating to Renault. The action was
prompted by continued operating margin improvements in the full
year 2015. The outlook on all the ratings is stable.

"Renault's new Baa3 investment grade ratings reflect the car
maker's track record of maintaining positive and increasing free
cash flow and fairly steady financial ratios, as well as
delivering increased and sustained profitability in its
automotive operations," says Yasmina Serghini, a Moody's Vice-
President -- Senior Credit Officer and lead analyst for Renault.

"The success of its new generation of models combined with the
recovery in Europe, its largest market, where we expect a
positive sales momentum to continue in the next 12 months, and
resilience in challenging Russian and Brazilian markets
underpinned recent earnings improvements," adds Ms. Serghini.

As part of the rating action, Moody's has withdrawn Renault's Ba1
corporate family rating, in line with the rating agency's policy
for issuers migrating from non-investment grade to investment
grade. Concurrently, Moody's has withdrawn the company's Ba1-PD
probability of default rating.

RATINGS RATIONALE

The upgrade of Renault's ratings to Baa3/Prime-3 reflects the
continuing improvement in Renault's operating margins in full
year 2015 with the reported operating profit margin of its
automotive division growing to 3.5% compared to 2.2% in 2014
(excluding at-equity income from Nissan Motor Co., Ltd (A3
stable) and before restructuring expenses).

Renault's continuing improvement was supported by a volume
increase (including sales to partners) fuelled by recovery in the
European car market and continued cost reductions. Surging sales
more than offset increasing regulatory costs as well as the
negative effects of Renault's limited product mix as it ran down
stock of ageing models ahead of its planned renewal of certain of
core models in the C and D segments.

Moody's acknowledges Renault's commitment to pursue its efforts
at building a more efficient and sustainable cost structure
through ongoing cost reductions, as well as synergies achieved
through its alliance with Nissan Motor Co., Ltd. (A3 stable) and,
to a lesser extent, Daimler AG (A3 positive). For instance,
Moody's expects that the use of common platforms, which started
in the C and D segments for Renault in 2015 with the new Espace,
will gain traction in the next few years, thus supporting a more
competitive unit cost per vehicle.

Furthermore, the Baa3 rating captures the company's good track
record of maintaining a positive Moody's-adjusted free cash flow
in the EUR0.5 billion to EUR1.0 billion range (versus
approximately EUR0.93 billion in 2015), also supported by an
increasing dividend flow from its 43.7% stake in Nissan.
Renault's financial ratios benefited from a reduction in the
company's indebtedness as of 31 December 2015 and higher
profitability such that its Moody's-adjusted (gross) debt/EBITDA
decreased to approximately 2.4x (versus 3.2x at year-end 2014)
and its retained cash flow/debt was around 19.5% (versus 17.0% in
full-year 2014).

Although Renault's operational performance suffered last year
from the sharp deterioration in operating conditions and new car
registrations in Russia and in Brazil, two of its top 15 markets,
the company has managed to contain the impact on its earnings.
That said, severe margin compression in these markets has
prevented the company from achieving an even firmer increase in
its profitability. Moody's expects that these headwinds will
continue in 2016 as a further drop in volumes combined with
higher competitive and pricing pressure continue to pressure
profitability.

Other risks Renault faces include (1) a potential slowdown in
growth in Europe, (2) unsuccessful new product launches in the C
and D segments in 2016, (3) a further decline in demand in its
key emerging markets, and (4) failure to successfully launch its
first locally produced crossovers in China from 2016.

RATIONALE FOR STABLE OUTLOOK

The stable outlook reflects Moody's expectation that Renault will
remain committed to further improving its operating margin
towards its self-imposed target of above 5% by 2017 (including
financial services) aided by a successful execution of its
revamped model range, further cost efficiencies and continued
positive sales growth in Europe.

WHAT COULD CHANGE THE RATING UP/DOWN

Moody's could consider an upgrade if Renault were able to
increase its profitability aided by a successful execution of its
strategy in the C and D segments and further cost efficiencies,
whilst demonstrating continued resilience in challenging markets
such as Russia and Latin America. An upgrade would also require
that Renault executes successfully on its expansion plans in
China, and more generally enhances its geographic profile over
time, maintains balanced financial policies and a solid liquidity
profile.

Quantitatively, upward pressure on the ratings could materialize
if Renault achieves then maintains a reported operating profit
from its automotive division at or above 5% (excluding the share
of income in Nissan), a Moody's-adjusted debt/EBITDA ratio
sustainably below 2x and a continuously positive Moody's-adjusted
free cash flow above EUR500 million.

Conversely, downward pressure on Renault's ratings could build if
its strategy of building a consistently profitable model range
and infrastructure were to be unsuccessful or if the company were
to face declining market shares in key markets. More aggressive
financial policies causing a deterioration in the company's
financial profile and/or liquidity could also trigger a
downgrade.

Downward pressure on the ratings could materialize if the
company's reported operating profit from its automotive division
were to remain sustainably in the low-single-digit range (in
percentage terms), its Moody's-adjusted debt/EBITDA ratio were to
increase towards 3.5x or free cash flow were to remain negative
for a prolonged period of time.


SOLOCAL GROUP: Moody's Lowers CFR to Caa2, Outlook Negative
-----------------------------------------------------------
Moody's Investors Service has downgraded the ratings of Solocal
Group S.A.'s ("Solocal", "the company"), including the Corporate
Family Rating (CFR) to Caa2 from B3, the Probability of Default
Rating (PDR) to Caa2-PD from B3-PD and the rating of the EUR350
million senior secured notes due 2018 issued by PagesJaunes
Finance & Co. S.C.A. to Caa2 from B3. The outlook on all ratings
is negative.

RATINGS RATIONALE

The downgrade of Solocal's ratings follows the release of
preliminary financials for the year ended December 31, 2015.
Reported recurring post-exceptional EBITDA reduced from EUR276
million to EUR221 million due to continuing decline in Print
earnings and to high restructuring charges (EUR49 million),
including a EUR35 million provision to cover potential additional
costs relating to the 2013 Employment Safeguard Plan. Moody's
adjusted gross debt to EBITDA ratio has increased to 5.3x and is
significantly above the 4.5x downgrade trigger previously set.

The negative outlook assigned reflects the degree of uncertainty
surrounding the capital structure and an elevated risk of
Distressed Exchange from debt buy-back at sub-par levels in the
secondary market. Management has pointed to the business
constraints resulting from the Leverage Covenant in its loan
facilities which limits net leverage (based on reported
financials) to a maximum of 4.0x to maturity. As at 31st December
2015, Solocal reported Leverage Covenant compliance with 5.25%
headroom. This was achieved, in part, by reduced investment in
new client acquisition which has payback periods greater than one
year, so limiting the ability to offset declining earnings in the
residual Print business with Internet earnings growth. The loan
facilities also contain a covenant restricting annual capex from
31st December 2015 to a maximum of EUR70 million which may limit
strategic growth. Management has stated that it is exploring all
options for its capital structure as it seeks to remove these
constraints as soon as possible. Moody's considers that this
creates an elevated risk of a solution, which is adverse for
existing creditors. Following loan and bond repurchases at prices
below par in 2015, management may also seek to repurchase
additional group debt in the secondary markets which may be
determined by Moody's to be a Distressed Exchange.

Positively, Moody's notes that (i) Solocal is not subject to
immediate liquidity pressures. As at December 31, 2015, the
company reported cash and equivalents on balance sheet of EUR53
million and the company had access to a EUR49 million undrawn
RCF; (ii) there are no material term debt maturities until March
2018; (iii) transition from print to digital is being achieved
with margin stability; and (iv) the company continues to generate
free cash flow.

The outlook could be stabilized, if Solocal successfully resolves
its covenant and capital structure issues while maintaining its
margins and liquidity profile.

WHAT COULD CHANGE THE RATING UP/DOWN

Upward pressure on the rating is not expected over the ratings
horizon but may arise should (i) Solocal resolve covenant and
capital structure issues; (ii) its exceptional charges reduce
such that Moody's adjusted Gross Debt / EBITDA falls sustainably
towards 4.5x; and (iii) organic Internet revenue growth exceed 5%
per annum. Downward pressure on the ratings could result from (i)
a deterioration in operating performance, leading to Moody's
adjusted Gross Debt/ EBITDA increasing above 5.5x; (ii) free cash
flow generation becoming negative; (iii) a weakened liquidity
profile; (iv) a covenant breach; and (v) annualized organic
Internet revenue growth turning negative.

Solocal is the leading provider of local media advertising and
local website and digital marketing services, with the majority
of its operations (97% of 2015 total revenue) in France and
limited operations in Spain and the UK. The company reported
EUR873 million recurring revenues in the twelve-month period
ended 31 December 2015. Solocal is listed on the Paris stock
exchange.



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G E R M A N Y
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GERMAN PELLETS: Insolvency Administrator Explores Funding Options
-----------------------------------------------------------------
EUWID reports that after a first review, the insolvency
administrator of German Pellets GmbH has come to the conclusion
that no significant financial means are currently on hand with
the aid of which the resumption of parts of the previous business
operations could be financed.

The stocks of finished goods, whose sale could generate
liquidity, are low, EUWID says.

The insolvency administrator is therefore currently examining the
possibilities regarding the procurement of external funds, EUWID
discloses.  However, it is unlikely that free collaterals at
German Pellets will be available in order to secure a reliable
financing without exorbitant risk premiums, EUWID notes.

According to EUWID, another option that is currently being
examined is the financing through potential investors, whose
funds would in the end be considered as advance purchase price
payments for certain assets.  However, concrete decisions have
yet to be taken, EUWID states.

It is expected that the examinations carried out by the company's
insolvency administrator will still take some time due to German
Pellets' corporate structure and its extensive links to domestic
and foreign companies, EUWID relays.

German Pellets is a production company based in Wismar, Germany.
The company produces various kinds of wood pellets for pellet
heating and pellet ovens and animal hygiene products for horses,
large and small animals.


INFINITY 2007-1: Fitch Affirms 'Csf' Ratings on 2 Note Classes
--------------------------------------------------------------
Fitch Ratings has affirmed Infinity 2007-1 (Soprano)'s commercial
mortgage-backed floating rate notes due 2019 as follows:

  EUR194.5 million class A (FR0010478420) affirmed at 'BBsf';
  Outlook Negative

  EUR36 million class B (FR0010478438) affirmed at 'CCCsf';
  Recovery Estimate (RE) 50%

  EUR28.1 million class C (FR0010478446) affirmed at 'CCsf'';
  RE 0%

  EUR22.5 million class D (FR0010478453) affirmed at 'Csf''; RE0%

  EUR28.1 million class E (FR0010478479) affirmed at 'Csf'; RE0%

The transaction is a securitization of the monetary rights
arising in favor of the protection seller under originally 15
credit default swaps referencing 15 commercial mortgage loans.
Four loans now remain, secured by collateral located in Germany
and France.

KEY RATING DRIVERS

The affirmation reflects broadly unchanged repayment prospects
from the pool, in Fitch's view.

The bulk of eventual losses will stem from the specially-serviced
EUR277.8 million EHE 1A loan, which reports collateral market
value (MV) of EUR147.8 million. The loan is backed by 23 retail
assets throughout Germany. Only one asset was disposed of last
year -- the logistics warehouse (located in Gallin) sold in
excess of the latest MV (EUR32.5 million vs EUR25 million) -- and
Fitch would caution against extrapolating this level of
outperformance across the portfolio given the scope for positive
selection. However, preliminary signs would suggest MV is
achievable.

Fitch understands from investor notices that a sub-portfolio of
12 assets is currently in the process of being sold, one of which
was completed this month for total gross proceeds of EUR16.25
million. The other 11 are subject to notarized sale and purchase
agreements totalling EUR49.3 million. Provided these transactions
complete in line with this sum (which is marginally above MV),
this would indicate improving market appetite for the portfolio.
Fitch will monitor developments in its review of the rating of
the class A notes and the RE of the class B notes.

The EUR30.8 million Massy loan also presents risk, albeit of a
different kind. It is secured on a multi-tenanted retail
park/shopping centre 20 kilometres south of Paris. Although the
reported loan-to-value ratio is only 55%, uncertainty exists over
the refurbishment works planned for this year, in part because a
considerable proportion of space is being held vacant to
accommodate the redevelopment.

Since Fitch's last rating action in February 2015 the EUR11
million Paul Langevin - Alterea and the EUR64.1 million San
Cugat - Alterea loans have repaid in full, with redemption
proceeds applied to the notes (sequentially) on the February
interest payment date. The EHE 1B loan is in special servicing
after it failed to repay on its extended loan maturity date in
October 2013. Nevertheless, the loan has continued to de-risk and
now presents minimal risk in Fitch's view.

RATING SENSITIVITIES

Fitch estimates 'Bsf' proceeds of EUR220 million.

Ratings on the class A notes are sensitive to how much will be
fetched from the notarized sales forthcoming on the EHE 1A
properties. Should Massy repay in full, this could lead to a
positive revision of the class A Outlook from Negative; however,
a default of the Les Tanneurs - Alterea loan on maturity could
prompt negative rating action.

DUE DILIGENCE USAGE

No third party due diligence was provided or reviewed in relation
to this rating action.

DATA ADEQUACY

Fitch has checked the consistency and plausibility of the
information it has received about the performance of the asset
pool and the transaction. There were no findings that were
material to this analysis. Fitch has not reviewed the results of
any third party assessment of the asset portfolio information or
conducted a review of origination files as part of its ongoing
monitoring.



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* IRELAND: Number of Hotels at Risk of Insolvency Down 21%
----------------------------------------------------------
Margaret Canning at Belfast Telegraph reports that insolvency
body R3 said the first few months of 2016 had seen a fall of 12%
in the number of hotel companies at risk of going out of
business.

Michael Neill -- mneill@algoodbody.com -- a partner in law firm
A&L Goodbody and Northern Ireland representative of R3, said
Belfast was expected to gain 1,000 more hotel rooms in the next
three years, Belfast Telegraph relates.

According to Belfast Telegraph, around 20 new hotels are
estimated to be in the works for the city.

But Mr. Neill, as cited by Belfast Telegraph, said there could be
a risk of the city becoming over-served by hotels.



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QUOTIDIANO IL TEMPO: March 1 Expressions of Interest Deadline Set
-----------------------------------------------------------------
Tania Enza Cassandro and Mario Venezia, the court-appointed
receivers of Quotidiano Il Tempo S.r.l. in liquidation, is
selling the company's continuing business unit, comprising:

   -- the tile of the daily newspaper "Il Tempo", in addition to
      all ownership rights and use of the title, including on the
      web, of the associated historical brands and of all the
      titles used by Il Tempo in any way relatable and referable
      thereto;

   -- hardware and software in use, and capital goods, such as
      the fittings located in the offices in Pizza Colonna;

   -- the lease agreement for the historical premises hosting the
      offices and the editorial unit of Il Tempo in Piazza
      Colonna No. 366, Rome.

The court-appointed receivers are calling to submit expressions
of interest with deposit.

A data room will be set up for this purpose, both physical -- in
especially dedicated premises at the Company's registered office
in Piazza Colonna no. 366, Rome -- and virtual, accessible by
those interested in the purchase.

Given the highly sensitive nature of the data contained in the
data room, access will be conditional upon payment of a deposit
of EUR30,000, to be attached to the expression of interest
through crossed bank draft, payable to C.P. Quotidiano Il Tempo
srl in liquidation no. 71/2015.  The deposit will be returned
upon outcome of the awarding in the competitive bidding procedure
to be started.

The expressions of interest, with attached deposit, must be
submitted in a sealed envelope by 12:00 a.m. on March 1, 2016, at
the Clerk's Office of Bankruptcy Judge Umberto Gentili,
Bankruptcy Division of the Civil Court of Rome, Viale delle
Milizie no. 1/E.

Please note that an irrevocable offer to purchase the business
unit has been received, with a bid of EUR12,500,000.

The competitive bidding procedure for the awarding of the
business unit will open on March 2, 2016, according to the sale
specifications made available in the data room.

The certified e-mail address of the procedure is:
cp71.2015roma@pecconcordati.it


* Italian Gov't Implements New Measures on Bank NPL Disposal
------------------------------------------------------------
Clifford Chance disclosed that on February 16, 2016, a set of
measures presented by the Italian Government entered into force
following the publication of the long awaited Law Decree no. 18
of February 14, 2016 (the "Banks' Law Decree") aimed at fostering
the disposal by Italian banks of their portfolios of non-
performing loans accumulated during the recession period.
Although the new measures are nothing like the bad bank
structures introduced in some other European countries over the
past few years, they represent a significant (and apparently the
only possible) step to allow Italian banks to reduce their
exposures and clean up their balance sheets, with a view to
enhancing the economic growth.

Going in the same direction are also the measures aimed at
allowing non banking institutions, and in particular Italian and
EU 'alternative investment funds' (AIFs) to grant financings to
Italian companies, on certain conditions.

In addition, the Italian Government has issued a bill of law to
be discussed and approved by the Italian parliament, providing
new features to speed up the judicial enforcement procedures and
to reform the Italian insolvency regime.

The Banks' Law Decree includes also special tax provisions to
ease the judicial sale of properties subject to enforcement
proceedings, by setting a flat tax of EUR200 due on account of
mortgage, land-registry and stamp taxes (as opposed to a 9%
ordinary tax) on the condition that the purchaser re-sells the
property within the following 2 years.  This measure is expected
to incentivize significantly the pro-active participation of the
investors to the public judicial auctions and the consequent
realisation of the enforced claims, with the "side effect" of
speeding up the enforcement procedures.

The Banks' Law Decree is effective as of February 16, 2016, and
will have to be converted into law by the Italian Parliament
within 60 (sixty) days, confirming or amending the original text
adopted by the Italian government.  Starting from the date of
conversion into law, the Italian Ministry of Finance ("MEF") will
have a further 60-day term to issue additional guidelines and
implementing rules.



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DUCHESS CLO VI: Moody's Hikes Class E Notes' Rating to Ba1(sf)
--------------------------------------------------------------
Moody's Investors Service has upgraded the ratings of the
following notes issued by Duchess VI CLO B.V.:

-- EUR35 million Class B Notes, Upgraded to Aaa (sf); previously
    on Oct 15, 2014 Upgraded to Aa1 (sf)

-- EUR25 million Class C Notes, Upgraded to Aa1 (sf); previously
    on Oct 15, 2014 Upgraded to A1 (sf)

-- EUR32.5 million Class D Notes, Upgraded to Baa1 (sf);
    previously on Oct 15, 2014 Upgraded to Baa3 (sf)

-- EUR15 million (current outstanding balance: EUR8,324,329)
    Class E Notes, Upgraded to Ba1 (sf); previously on Oct 15,
    2014 Upgraded to Ba2 (sf)

Moody's has also affirmed the ratings on the following notes:

-- EUR215 million (current outstanding balance: EUR73,228,141)
    Class A-1 Notes, Affirmed Aaa (sf); previously on Oct 15,
    2014 Affirmed Aaa (sf)

-- EUR125 million (current outstanding balance: EUR 1,366,079)
    Revolving Credit Facility Notes, Affirmed Aaa (sf);
    previously on Oct 15, 2014 Affirmed Aaa (sf)

Duchess VI CLO B.V., issued in August 2006, is a collateralized
loan obligation (CLO) backed by a portfolio of mostly high-yield
senior secured European loans. The portfolio is managed by Babson
Capital Management (UK) Limited. The transaction's reinvestment
period ended in August 2013.

RATINGS RATIONALE

The upgrade of the notes is primarily a result of deleveraging
since Feb 2015. As a result, the class A-1 notes and the
revolving facility have paid down approximately EUR62 million
resulting in increases in over-collateralization levels. As of
the January 2016 trustee report, the senior, class B, class C,
class D and class E overcollateralization ratios are reported at
307.93%, 209.50%, 170.55%, 137.36% and 130.84% respectively
compared with 206.97%, 165.34%, 144.57%, 124.27% and 118.94% in
February 2015.

The key model inputs Moody's uses in its analysis, such as par,
weighted average rating factor, diversity score and the weighted
average recovery rate, are based on its published methodology and
could differ from the trustee's reported numbers. In its base
case, Moody's analyzed the underlying collateral pool as having
performing par and principal proceeds balance of EUR225.0
million, a defaulted par of EUR2.3 million, a weighted average
default probability of 19.79% (consistent with a WARF of 2949
over a weighted average life of 3.97 years), a weighted average
recovery rate upon default of 45.75% for a Aaa liability target
rating, a diversity score of 29 and a weighted average spread of
4.20%.

The default probability derives from the credit quality of the
collateral pool and Moody's expectation of the remaining life of
the collateral pool. The estimated average recovery rate on
future defaults is based primarily on the seniority of the assets
in the collateral pool. In each case, historical and market
performance and a collateral manager's latitude to trade
collateral are also relevant factors. Moody's incorporates these
default and recovery characteristics of the collateral pool into
its cash flow model analysis, subjecting them to stresses as a
function of the target rating of each CLO liability it is
analyzing.


MESDAG BV: Fitch Affirms 'Dsf' Ratings on Two Note Classes
----------------------------------------------------------
Fitch Ratings has downgraded Mesdag (Charlie) B.V.'s class B
notes and affirmed the others, as follows:

  EUR33.3 million Class B (XS0289822677) downgraded to 'A-sf'
  from 'A+sf'; Outlook Stable

  EUR40.3 million Class C (XS0289823568) affirmed at 'CCsf';
  Recovery Estimate (RE) 25%

  EUR5.7 million Class D (XS0289824533) affirmed at 'Dsf'; RE0%

  EUR0 million Class E (XS0289824889) affirmed at 'Dsf'; RE0%

The transaction is a securitization of four loans backed by
commercial real estate assets in Germany and the Netherlands and
originated by NIBC Bank N.V.

KEY RATING DRIVERS

The downgrade of the class B notes reflects greater tail risk for
the recovery prospects for three of the remaining four loans,
with growing reliance on the outcomes of Dutch and German
insolvency proceedings. Repayment of the then largest loan in the
portfolio, Berlin (EUR112 million), as well as principal receipts
from asset sales from the Dutch Office portfolio have fully
repaid the class A notes and reduced the class B notes' balance.

However, the rate of payment from the Dutch Office portfolio,
which is being administered by Dutch insolvency practitioners
(IP), has been slow, with little visibility as to potential
delays, costs and haircuts. Realising proceeds close to reported
value for one relatively large regional office in Amersfoort will
be significant to cover the class B notes.

This property is located in the centre of Amersfoort, bordering
the railway station, with significant concentration to a single
tenant Twynstra Gudde Adviseurs & Managers B.V., representing 86%
of the passing rent. Although centrally located, the asset has
suffered from a high level of vacancy, around 41%, for some time.
In addition, all of the in place leases expire in 2018, raising
the risk of a further decline in income for any future investor.
The class C and below notes are expected to suffer losses, in
part and in full, arising from the Dutch Office portfolio.

The Dutch Office portfolio is collateral for two loans, Dutch I
(EUR30 million, secured on two properties) and II (EUR22 million,
one property described above). Both loans are deep in negative
equity following a series of sales well below allocated loan
amounts (LTVs of 380% and 197%). In the past 12 months, two
properties from Dutch Offices I and one from Dutch Offices II
have generated senior principal receipts of EUR4.8 million (from
an aggregate sales price of EUR7 million). The special servicer
reports that the IP have identified prospective purchasers for
the three properties, with completion due this quarter.

The strongest loan is the EUR28.9m Tommy loan, backed by German
housing (single family and multifamily units). A portion of the
portfolio, mainly single family units, is let by the German
government on behalf of the UK military, originally under three
contracts with rolling six month break options. The rest is
mainly multifamily stock. Overall occupancy stands at 89.4%,
slightly down since the last rating action. Low reported leverage
(LTV of 35.6% based on a December 2014 valuation; interest
coverage of 2.1x) should support the loan repayment by the
borrower (a closed-ended fund) at April maturity.

The Derrick loan failed to repay at maturity in September 2013.
The collateral is a property near Hildersheim in Germany fully
occupied by the Goettingen police force until September 2020. A
recent scheduled rent review increased passing rent to EUR372,696
(up 15%), which should help with cash sweep. However, a lack of
visible activity in the workout process, which the special
servicer attributes in part to the borrower's attempt to re-gear
the lease, signals weak appetite for the asset, in Fitch's view.

RATING SENSITIVITIES

Fitch estimates 'Bsf' recoveries of EUR44 million.

Lower than expected recoveries from the property sale strategy
regarding the three loans in special servicing may negatively
affect the ratings on the class B notes. The performance of the
transaction as a whole relies heavily on the Tommy loan repaying
in full. Any delay with this at maturity could have a negative
impact on the ratings of the senior tranches and consequently the
class C recoveries.

DUE DILIGENCE USAGE

No third party due diligence was provided or reviewed in relation
to this rating action.

DATA ADEQUACY

Fitch has checked the consistency and plausibility of the
information it has received about the performance of the asset
pool and the transaction. There were no findings that were
material to this analysis. Fitch has not reviewed the results of
any third party assessment of the asset portfolio information or
conducted a review of origination files as part of its ongoing
monitoring.

Fitch did not undertake a review of the information provided
about the underlying asset pool ahead of the transaction's
initial closing. The subsequent performance of the transaction
over the years is consistent with the agency's expectations given
the operating environment and Fitch is therefore satisfied that
the asset pool information relied upon for its initial rating
analysis was adequately reliable.

Overall, Fitch's assessment of the information relied upon for
the agency's rating analysis according to its applicable rating
methodologies indicates that it is adequately reliable.



===========
N O R W A Y
===========


HAVILA SHIPPING: Operations to Continue Amid Creditor Talks
-----------------------------------------------------------
The Board of Directors on Feb. 17 decided that Havila Shipping
ASA will continue to operate.  The decision entails that the
company continues its negotiations with its financial creditors
with an aim to reach an agreement that that will enable the
company to come through the current market challenges.

The company maintains ordinary operations where focus remains on
operational safety.  It will honor all running commitments under
existing contracts and all other commitments towards customers
and suppliers.  During the negotiating period the company will
not pay interest, amortizations or other commitments to its
financial creditors.  The company's bank relations have approved
this.  The Board of Directors resolution rests on the assumption
that a continuation of Havila Shipping as a going concern will
result in the best solution for all stakolders.

Headquartered in Fosnavag, Norway, Havila Shipping ASA operates a
number of vessels, including platform supply vessels, anchor
handling tug supply vessels, and rescue and recovery vessels.
The Company provides supply services to offshore companies both
national and international.



===============
P O R T U G A L
===============


BANCO ESPIRITO: PM Criticizes Central Bank Over Compensation
------------------------------------------------------------
Peter Wise at The Financial Times reports that in the latest of a
series of criticisms, Antonio Costa, Portugal's prime minister,
attacked the central bank for being "irresponsible" by "dragging
out" a decision over compensation claimed by commercial paper
investors hit by the collapse in 2014 of Banco Espirito Santo.

Luis Montenegro, a senior figure in the opposition Social
Democrats (PSD), has hit back at the government, accusing the
prime minister of "a low and shameful attack" on the Bank of
Portugal and an illegitimate attempt to influence the regulator
in contravention of EU rules, the FT relays.

The central bank has not directly commented on the attacks, but
said in a statement that a meeting with the government and the
CMVM, Portugal's stock market watchdog, on the compensation issue
had already been set up for Feb. 19 before the latest criticisms
were reported, the FT notes.

In December, the prime minister questioned whether the central
bank was "properly equipped with the capacity and know-how" for
dealing with bank resolutions, suggesting a separate bank
resolution authority should be created, the FT recounts.

While expressing his respect for the central bank's independence,
he has also made veiled criticisms of its decision in December to
impose losses of almost EUR2 billion on some senior bonds in
Novo Banco, the so-called good bank created from the ruins of
BES, the FT states.

The government has strongly distanced itself from the Bank of
Portugal decision, over which the investors have threatened legal
action, according to the FT.  In January, a Lisbon government
official told investors in London that it disagreed with the
central bank over the issue, the FT discloses.

                   About Banco Espirito Santo

Banco Espirito Santo is a private Portuguese bank based in
Lisbon, Portugal.  It is 20% owned by Espirito Santo Financial
Group.


METROPOLITANO DE LISBOA: S&P Affirms 'BB+' Issuer Credit Rating
---------------------------------------------------------------
On Feb. 17, 2016, Standard & Poor's Ratings Services affirmed its
'BB+' long-term issuer credit rating on Portuguese subway
operator Metropolitano de Lisboa, E.P. (Metro). The outlook is
stable.

RATIONALE

S&P equalizes its long-term rating on Metro with that on
Portugal, based on its view of the almost certain likelihood that
Metro would receive timely and sufficient extraordinary support
from the Portuguese government in the event of financial
distress.

S&P regards Metro as a government-related entity. S&P bases its
assessment of the likelihood of government support on its view of
Metro's critical role for and integral link with Portugal, the
company's 100% owner.

S&P said, "We believe Metro's role for Portugal is critical
because the company is key in implementing the government's
policy of fostering urban mobility in the capital city of Lisbon.
Moreover, most of Metro's debt is guaranteed by the government
and contains cross-default clauses regarding all of the company's
financial obligations."

Since June 2011, the government has enabled timely payment of
Metro's financial obligations through what S&P sees as
sufficient, continuing, and well-coordinated extraordinary
support. The government has also set up a legal framework and
secured sufficient budgetary allocations to facilitate the
provision of this support on a timely basis. This track record of
active support leads us to consider that a default by Metro would
have a pronounced impact on the government, and it underscores
Metro's critical role for the government.

S&P said, "We think that Metro has an integral link with the
government. We continue to see Metro as an extension of the
Portuguese government, in charge of managing and enlarging the
subway network in the Lisbon area, in strict accordance with
government plans."

Metro builds and operates under a strategy defined and monitored
by the government. As an "entidade publica empresarial" (EP;
public enterprise entity), Metro enjoys a stronger legal status
than "sociedades anonimas" (public limited companies). Even
though EPs are generally subject to private law (to gain
flexibility and efficiency), they are not subject to the
bankruptcy laws applicable to sociedades anonimas. Only the
central government can liquidate an EP.

Metro cannot be privatized unless its legal status is changed.
However, in 2015, the Portuguese government tendered out Metro's
operations to a private contractor, while retaining
responsibility for the company's debt. In S&P's view, this plan
would have led Metro to turn into a debt holding company and
contract manager, with no direct responsibility for the direct
management of operations. However, the new Portuguese government
in place after the October 2015 election has cancelled this
concession. S&P understands Metro's operations will now remain
under its control.

In S&P's view, neither the proposed concession nor the decision
to annul it have had an impact on the government's commitment to
service Metro's debt. All current debt would continue to fall
under Metro's umbrella, and be part of the central government's
consolidation scope under European System of National and
Regional Accounts (ESA 2010) rules. S&P estimates the central
government remains committed to servicing Metro's debt, given the
outstanding government guarantee on over 90% of the total debt,
as well as the cross-default clauses that even the non-guaranteed
debt contracts contain.

S&P assesses Metro's stand-alone credit profile (SACP) at 'cc'.
S&P assigns a 'cc' SACP to an issuer when it expects default to
be a virtual certainty, unless the issuer receives extraordinary
support from a parent or government. In Metro's case, S&P
classifies government support to the company as extraordinary
because timely payment of debt service relies on government
loans and transfers that are included in each annual budget,
rather than contemplated in a stable, multiyear financial
framework of ongoing support.

The 'cc' SACP stems from S&P's assessments of Metro's cash flow
generation capacity, which is not commensurate with its debt
service requirements. S&P understands Metro generated free cash
flow of about EUR2 million in 2015, compared with debt service of
about EUR200 million. Metro is not allowed to sign credit lines
or issue new debt in the capital markets. Therefore, in the
absence of government support, S&P considers that default would
be certain.

Metro has signed a contract with the central government giving
the treasury the mandate to manage the company's derivatives. The
treasury ultimately meets the swap payments. In 2013, the
treasury agreed with swap counterparties to cancel some
contracts. S&P understands that the government intends to
renegotiate the remaining swaps. S&P currently sees these
agreements and renegotiations as opportunistic and consider that
they have no impact on S&P's rating on Metro.

LIQUIDITY

S&P said, "We view Metro's liquidity as very weak based on the
latest information available to us. In 2016, Metro must honor
approximately EUR355 million in debt service. In 2015, its cash
holdings were about EUR20.9 million on average, with no access to
credit lines. In 2016, we do not expect Metro will generate free
cash flows significantly higher than in 2015, which could boost
cash levels. In our view, the company will therefore continue to
rely exclusively on central government transfers to service its
debt."

OUTLOOK

The stable outlook on Metro reflects that on Portugal. "We expect
our long-term issuer credit rating on Metro would move either up
or down in tandem with our long-term rating on Portugal," said
S&P.

"Although highly unlikely at this stage, we could downgrade Metro
if we revised downward our view of the likelihood of
extraordinary support from the Portuguese government. In
particular, this could happen if we considered that the
Portuguese government could diminish its commitment to continue
supporting Metro's debt service through timely and sufficient
capital injections," said S&P.



===========
R U S S I A
===========


ALFASTRAKHOVANIE PLC: Fitch Affirms BB Financial Strength Rating
----------------------------------------------------------------
Fitch Ratings has affirmed AlfaStrakhovanie PLC (Russia)'s
Insurer Financial Strength (IFS) Rating at 'BB' and its National
IFS rating at 'AA-(rus)'. The Outlooks are Stable.

KEY RATING DRIVERS

The affirmation and Stable Outlooks reflect AlfaStrakhovanie's
resilience to recessionary developments in the Russian economy.
The insurer improved its operating profitability in 9M15, but
remains thinly capitalized for its business volumes. The ratings
also reflect AlfaStrakhovanie's strategic importance to its
parent (Alfa Group), the track record of capital support from the
parent and Fitch's view that this support is likely to continue
to be available in the future.

Based on AlfaStrakhovanie's interim unaudited IFRS reporting, the
insurer substantially strengthened its profitability to RUB2.9
billion in 9M15 from RUB0.7 billion in 9M14 (2014: RUB0.6
billion). This strengthening reflected a return to a profitable
non-life underwriting result, stable and solid investment income,
including stronger investment contribution to the life insurance
technical result. The contribution of the medical services
subsidiary and compulsory health insurance operator to the
insurer's consolidated net profit remained moderate.

The insurer's non-life gross written premiums (GWP) grew 18% yoy
in 9M15, largely supported by a recent government-led increase of
tariffs for compulsory motor third party liability insurance
(MTPL). As a result, the share of this business line in the
portfolio grew to 18% from 11% in the same period. To a smaller
extent, the growth has been supported by streamlined products
sold to households through retailers. On the other hand, the
company has witnessed declines in premiums related to
construction and aviation, reflecting domestic economic
challenges. Apart from these trends, the business mix remains
fairly stable.

AlfaStrakhovanie improved its combined ratio of the consolidated
non-life portfolio to 98% in 9M15 from 101.1% in 9M14, as the
loss ratio fell to 58.8% from 63.2%. Motor damage line has been
the most important factor behind this improvement, as a wide use
of deductibles in motor damage policies offered by
AlfaStrakhovanie starting from 2015 has helped to reduce the
frequency of losses. The MTPL loss ratio remained almost
unchanged despite the tariff increase, but the insurer has
notably reduced the commission levels for the line. The loss
ratio of household insurance products was low but it has, to a
large extent, been offset by an increase in commissions, so that
the line's contribution to the insurer's combined ratio remained
unchanged.

Based on Fitch's internal assessment, AlfaStrakhovanie's risk-
adjusted capital position moderately improved in 9M15 following
the growth of available capital through retained earnings.
Nevertheless, the insurer remains thinly capitalized for its
business volumes. Positively, the insurer's sound track record of
a prudent investment policy and adequate reinsurance protection
have shielded its capital from large losses to date.

RATING SENSITIVITIES

An upgrade is unlikely given the deteriorated operating
environment and weakened sovereign profile. The ratings are also
constrained by the insurer's thin capital position.

The ratings could be downgraded if AlfaStrakhovanie reports
negative earnings in 2016. The ratings could also be downgraded
if its shareholders fail to support the insurer's risk-adjusted
capitalization if it weakens as a result of worsened
profitability or the pursuit of growth.


FIRST CONTAINER: Fitch Assigns Final 'BB' Senior Unsecured Rating
-----------------------------------------------------------------
Fitch Ratings has assigned First Container Terminal's (FCT) RUB5
billion notes a final local currency senior unsecured rating of
'BB' with Stable Outlook. The rating of the notes is aligned with
the Long-term Issuer Default Rating (IDR) of parent Global Port
Investment Plc (GPI), which provides a public irrevocable offer
to repurchase the notes.

KEY RATING DRIVERS

The bond bears a coupon of 13.1% per year and has a maturity of
10 years with a mandatory call option for FCT to buy back the
bond in February 2021 effectively reducing the maturity to five
years. On the closing date, FCT swapped the rouble-denominated
bond into $US .

GPI's Op Co to Issue Bonds
FCT is one of GPI's main operating subsidiaries. In December
2015, FCT issued a RUB5 billion bond and has now issued an
additional RUB5 billion notes as part of its plan to issue three
series of RUB5 billion notes under a RUB30 billion domestic bond
programme. FCT is a 100%-owned GPI subsidiary, fully consolidated
in the group accounts, and generates 35% of GPI's operating cash
flow. Outside of the GPI group, FCT is a small player with little
market power and exposed to competition. Under Fitch rating case,
the rating agency expects FCT's leverage at the end of the
forecast period in 2020 to remain close to a high 4x, although it
expects GPI's consolidated leverage to decline to 1.5x.

Irrevocable Offer

Bondholders benefit from an irrevocable offer by GPI. Under this
offer, GPI irrevocably and publicly undertakes to purchase the
bond following non-payment of interest or principal. This
obligation ranks pari-passu with all other direct, unsecured GPI
obligations.

If and when the bondholders accept the offer, it turns into a
sale and purchase agreement of the bond where GPI is obliged to
pay principal, coupon and accrued interest on the 13th business
day after non-payment of the rated bond. Under this structure,
the parent is strongly incentivized to financially support the
issuing entity before it defaults. The probability of default of
the rated bond is therefore linked to that of GPI, in Fitch's
view. As a result, Fitch has aligned the local currency senior
unsecured rating of the notes with GPI's Long-term local currency
IDR.

Bonds Proceeds for Refinancing

The bonds' proceeds are being used to refinance FCT's outstanding
bank loans. GPI's consolidated leverage will therefore not
increase as a result of this transaction.

RATING SENSITIVITIES

The rating of the notes is credit-linked to the Long-term IDR of
GPI; future development that could lead to negative rating
actions on both GPI and the FCT bond include:

-- Dividend distributions impacting GPI's expected deleveraging
    profile

-- Fitch-adjusted GPI's consolidated debt/EBITDA remaining above
    3.0x over a three-year horizon to 2018 in the Fitch rating
    case

-- Adverse policy decisions or geopolitical events affecting the
    port sector

-- Failure to maintain adequate liquidity to cover GPI's debt
    service maturities

-- Failure to comply with covenants at op cos and consolidated
    levels

-- An unbalanced mix between bullet and amortizing debt and/or a
    potential change in shareholder structure with the co-
    controlling shareholder APMT disposing partly or entirely its
    stake in GPI, which may affect our analysis of some rating
    factors such as refinancing risk and potentially GPI's
    ratings.

Rating upside potential is currently limited. Fitch does not
expect improvement in the Russian economy in the near term, as
indicated by the Negative Outlook on Russia's sovereign rating.


PHOSAGRO OJSC: Fitch Affirms 'BB+' LT FC Issuer Default Rating
--------------------------------------------------------------
Fitch Ratings has affirmed OJSC PhosAgro's (PhosAgro) Long-term
foreign currency Issuer Default Rating (IDR) and senior unsecured
rating at 'BB+'. The Outlook on the IDR is Stable.

The affirmation reflects Fitch's view that PhosAgro's leading and
strong market position and cost competitiveness will continue to
support its strong cash generation capacity and allow it to
maintain credit metrics which are strong for the rating. PhosAgro
has been aided by the devaluation of the rouble as the majority
of PhosAgro costs are rouble-denominated while the majority of
revenues are US dollar-linked. This is despite volatile pricing
conditions, higher capex requirements in 2015 and 2016, and a
large FX revaluation impact on US dollar-denominated debt. Other
factors that we expect to impact PhosAgro's deleveraging include
recovery in short-term phosphate pricing, higher than expected
dividends, the investment strategy beyond 2017 and lower than
expected phosphate capacity closures in China.

KEY RATING DRIVERS

Debt Revaluation Offset By Higher Earnings

Nearly 90% of PhosAgro's debt obligations are in US dollars. As
the company reports in roubles, devaluation of the rouble results
in an increase in its debt obligations on balance sheet. The
rouble further depreciated against the US dollar over 2015 to
$US /RUB73 at end-2015 from 56 at the start of the year. The
increase in debt is compensated by higher earnings, as 70% of
earnings are received in mainly US dollars whilst costs remain
rouble-denominated. As a result, Funds from operations (FFO) net
adjusted leverage decreased to 1.7x at FYE15 from 2.8x at FY14.

Improvement in Leverage Drives Outlook

The improvement in FFO net adjusted leverage is broadly in line
with Fitch's previous expectations and largely down to currency
effects and volume increases despite the higher capex and pricing
pressure PhosAgro faced in 2015. Fitch forecasts downward pricing
pressure will continue on diammonium phosphate (DAP) and
monoammonium phosphate (MAP) due to stagnant demand partly offset
by slow levels of supply entering the market. However, forecast
low capex post 2017 and management's commitment to pay down debt
is currently driving leverage towards positive rating guidelines
of 1.5x from 2018. This remains subject to volatile fertilizer
pricing and $US /rouble fluctuations.

Fertilizer Pricing Pressure

Fitch assumes the pricing of phosphate fertilizers will come
under pressure due to an excess in supply over the short to
medium term, as well as continued low grain prices. Fitch also
expects phosphate rock and phosphoric acid prices to come under
pressure due to the relaxation of Chinese export duties and more
capacity entering the market. DAP/MAP is not expected to be as
impacted as urea. Oversupply of urea has and is forecast to
continue to negatively impact pricing, with urea pricing
decreasing by over 14% over 2015 whereas DAP/MAP will decrease by
only 6% over 2015. It is unclear how cuts in Chinese subsidies
and capacities may positively impact fertilizer demand and
pricing.

Fitch notes that there is the potential for further domestic
fertilizer price reductions to be introduced. However, Fitch
considers the impact of this to be small and still speculative,
as the impact was limited in 2015 and Russian farmers are
considered to be in a more stable condition compared with a year
ago.

Peak Capex Worsened By Rouble Devaluation

PhosAgro's 2016 investment priority will continue to be the
completion of the 760ktpa low-cost ammonia plant in Cherepovets
as well as a new 500kt urea plant. In addition, capex will be
spent on increasing phosphate fertiliser capacity and increasing
production from the Kirovsk mining shaft. This is currently
expected to peak in 2016 before significantly reducing from 2017.
Overall capex has increased to around RUB42bn in 2015 and 2016
largely due to the weakened rouble (30% of capex is in foreign
currency) but also due to the timing of projects.

Strong Market Position

With annual output of around 5.3 million tonnes of DAP/MAP and
other phosphate fertilizers, and phosphate rock capacity of 7.5m
tonnes, PhosAgro is the third-largest global producer (excluding
China) of phosphate fertilizers behind MOS Holdings Inc
(BBB/Stable) and Office Cherifien des Phosphates (OCP: BBB-
/Stable).

The group also benefits from flexible production lines with over
40% of DAP/MAP capacity being switchable at minimal cost to
complex nitrogen-phosphate-potash and nitrogen-phosphate-sulphur
fertilizer production.

Competitive Cost Position

PhosAgro's vertically integrated business model with access to
local low-cost feedstock (phosphate rock and ammonia) contributes
to a low operating cost position compared to its competitors.
With the recent rouble devaluation, PhosAgro is among the best
performing MAP/DAP producers on the global cash curve as costs
are predominantly rouble denominated. The group's production
flexibility is also expected to support capacity utilization
rates and EBITDA margin, which is forecast to increase to over
40% in 2015.

However, along with other Russian corporates, the group could
face additional cost pressures due to high inflation impacting
input prices in the coming year. This may negatively affect the
company's margins, although Fitch notes that PhosAgro may be able
to partially offset this with improvements in gas consumption
efficiency at its ammonia plants.

Self Sufficiency in Raw Materials

The company owns phosphate rock deposits with more than 2 billion
tonnes of high-quality resources according to the JORC (Joint Ore
Reserves Committee) Code, and ammonia production facilities that
currently cover 80% of its internal requirements. In Fitch's
view, the concentrated supply structure of phosphate rock and the
depletion of phosphate rock deposits held by some producers may
give the remaining phosphate rock producers greater pricing power
in the longer term, given the relatively inelastic and increasing
demand for phosphates.

Country Risk and Corporate Governance

PhosAgro has a limited geographic footprint with all of its
assets in Russia, which entails higher than average political,
business and regulatory risks, and in addition has a concentrated
ownership structure. The rating is therefore notched down by two
notches, which we typically apply to most Russian corporates.
Excluding these risks, Fitch assesses PhosAgro's credit profile
in the 'BBB' category.

KEY ASSUMPTIONS

Fitch's key assumptions within the rating case for PhosAgro
include:

-- Fitch Brent Price Deck of $US 45/barrel in 2016, $US
    55/barrel in 2017 and $US 65/barrel in 2018.

-- $US /RUB forecast in line with oil price and moves from 68 in
    2016 to 61 in 2017 and 56 in 2018.

-- Inflation assumed at 10% in 2016 before reducing to 5% on
    average from 2017.

-- RUB3 billion restricted cash.

-- DAP/MAP to average $US 440/t over the next few years from $US
    465/t in 2015.

-- Dividends assumed at roughly 50% of the net income over a
    two-year average.

RATING SENSITIVITIES

Positive: Future developments that may, individually or
collectively, lead to positive rating action include:

-- FFO adjusted net leverage sustainably below 1.5x.
-- Effective ring-fencing measures, protecting PhosAgro from a
    concentrated ownership structure.

Negative: Future developments that may, individually or
collectively, lead to negative rating action include:

-- FFO adjusted net leverage sustainably above 2.5x.
-- EBITDAR margin sustainably below 20%.

LIQUIDITY

Fitch estimates that PhosAgro has sufficient liquidity to year-
end 2017. PhosAgro is very cash generative and has historically
had low debt and a healthy capital structure, which makes it a
prime-class borrower in the Russian lending market. Access to
domestic and international debt capital markets has been strong
and as a result PhosAgro has an all in low cash interest cost of
3.6%. Debt maturities are spread evenly over the next four years
and PhosAgro is projected to be free cash flow positive from 2017
when capex is currently expected to slow down. Management have
made clear its intentions to buy back RUB10 billion of debt in
2016.

FULL LIST OF RATING ACTIONS

OJSC PhosAgro:
Foreign currency Long-term IDR: affirmed at 'BB+'; Outlook Stable
Foreign currency Short-term IDR: affirmed at 'B';
Foreign currency senior unsecured rating: affirmed at 'BB+';
Local currency Long-term IDR: affirmed at 'BB+'; Outlook Stable
Local currency senior unsecured rating: affirmed at 'BB+';
National Long-term rating: affirmed at 'AA(rus)'; Outlook Stable

PhosAgro Bond Funding Limited:
Foreign currency senior unsecured rating on the Loan
Participation Notes: affirmed at 'BB+'


RUSSIA: S&P Affirms 'BB+/B' Sovereign Credit Ratings
----------------------------------------------------
On Feb. 17, 2016, Standard & Poor's Ratings Services affirmed its
'BB+/B' long- and short-term foreign currency sovereign credit
ratings and its 'BBB-/A-3' long- and short-term local currency
sovereign credit ratings on Russia. The outlook on both the local
and foreign currency long-term ratings remains negative.

S&P also affirmed the long-term national scale rating on Russia
at 'ruAAA'.

As a "sovereign rating" (as defined in EU CRA Regulation
1060/2009 "EU CRA  Regulation"), the ratings on the Russian
Federation are subject to certain publication restrictions set
out in Art 8a of the EU CRA Regulation, including publication in
accordance with a pre-established calendar. Under the EU CRA
Regulation, deviations from the announced calendar are allowed
only in limited  circumstances and must be accompanied by a
detailed explanation of the reasons for the deviation. In this
case, the reason for the deviation is S&P's recent revision of
its global oil price assumptions.

RATIONALE

In mid-January, Standard & Poor's materially lowered its oil
price assumptions for 2016-2019. Prices for crude oil in spot and
futures markets are about 70% below mid-2014 levels, when prices
began to slide. When S&P last reviewed Russia in October 2015, it
expected Brent oil prices to average US$55 per barrel (/bbl) in
2016 and to recover to US$70/bbl by 2018. S&P now assumes an
average Brent oil price of US$40/bbl in 2016 and only US$50/bbl
in 2018 and thereafter. Nevertheless, S&P does not project a
material worsening in our economic, fiscal, and external
assessments, and have therefore affirmed its ratings on Russia.

S&P said, "We do not expect the Feb. 16, 2016, agreement between
oil ministers from Qatar, Russia, Saudi Arabia, and Venezuela to
freeze output at the levels reported in January to have a
material impact on our oil price assumptions. We note that the
first market reaction to this news was a further decline in oil
prices. On the supply side, we note that the freeze would take
place at  already record high levels of output for Russia and
Saudi Arabia. We note that the agreement is conditional on other
producers also freezing production. On the demand side, we see
China's economic slowdown and debt load as a  continuing top
global risk. Our long-term oil price assumptions will continue
to be informed by our view of the marginal cost of oil
production."

In Russia, the hydrocarbon sector accounted for about 50% of
exports in 2015, down from 58% in 2014, owing to the sharp fall
in oil prices. In terms of GDP, the ratio is more difficult to
estimate. The share of mining and quarrying in GDP was almost 8%
in 2014 and 8.8% in 2015, but when one also includes the value-
added of other sectors, such as transport (pipelines) and
wholesale trade, S&P estimates the hydrocarbon sector's
contribution rises to 20%-25%. Oil and gas revenues were 43% of
central government revenues in 2015, down from  51% in 2014.

S&P said, "We expect that declining domestic purchasing power, as
a result of exchange rate depreciation and rising inflation, will
hamper Russia's growth prospects. We project Russia's real GDP
per capita growth will average less than that of economies with
comparable levels of economic wealth over our 2016-2019 rating
horizon. We see this muted projected growth partly as a legacy of
a secular economic slowdown that had already begun before the
geopolitical developments in Ukraine. It also reflects a lack of
external financing due to the introduction of economic sanctions
and the sharp decline in oil prices. Since our October 2015
review, we have reduced our real GDP growth forecasts for
2016-2019 to an average of 0.5% a year from closer to 1.0%, while
our GDP per capita estimate for 2016 has fallen to US$7,700
compared with US$8,600 in our October review.

"We assume in our base case that the sanctions on Russia will
remain in place over our forecast horizon, absent a resolution of
the conflict in Ukraine. However, the situation remains fluid
and, should sanctions ease, one possible consequence could be a
boost to the Russian economy."

Balance-of-payment pressures have hit the economy following the
decline in oil prices (the Urals oil price currently trades at an
about US$3/bbl discount to  Brent). Russia is experiencing a
severe terms-of-trade shock. S&P nevertheless expects that
Russia's current account will remain in surplus, thanks to a
consistent drop in import demand and a reduction in the deficit
on the income balance due to falling debt interest payments.
However, S&P now anticipates smaller current account surpluses,
equivalent to 3.5% of GDP in 2016, compared with 5.4% of GDP in
its October review. Russia's external debt stock (excluding debt
liabilities to direct investors) declined to US$385 billion as
of Dec. 31, 2015, from US$466 billion a year earlier, as
international capital market financing to the country remains
limited following the imposition of sanctions.

"We note that most of the deleveraging over the period related to
debt repayments by the banking sector (49% of the total decline
in external debt) and corporate sectors (39%). Banking accounts
for 34% and the corporate sector54% of total external debt. We
estimate Russia's external debt service at  about US$110 billion
in 2016 compared with US$140 billion in 2015. We expect
the Central Bank of Russia's (CBR's) provision of foreign
currency liquidity to the domestic banks via repo operations to
continue to support private sector external debt service, while
external deleveraging is also supported by corporate external
earnings."

External interest payments, reflected in the income balance, have
fallen sharply as a result. Russia maintains a net external asset
position. S&P expects liquid external assets held by the public
and banking sector to exceed Russia's external debt by about 30%
of current account receipts (CARs) over 2016-2019.

The CBR modified its exchange rate regime on Nov. 10, 2014,
moving to a flexible exchange rate regime, with foreign currency
interventions permissible in case of financial stability threats.
This change should afford the CBR greater ability to conserve
reserves. Historically, there has usually been a strong
correlation between the external value of the ruble and oil
prices, and this has held true over the past 12 months.

Balance-of-payment pressures have centered on the financial
account. Private-sector net capital outflows averaged US$57
billion annually over 2009-2013 and increased to US$153 billion
in 2014. However, these outflows totaled US$57 billion in 2015,
in line with the historical average. Nevertheless, in S&P's view,
stress could mount for Russian corporations and banks that have
foreign currency debt-service requirements without a concomitant
foreign currency revenue stream. That said, the CBR has been
providing substantial foreign currency liquidity to domestic
banks via repo operations, which has reduced the central bank's
headline reserves. S&P notes that the CBR's reverse foreign
currency liquidity operations with resident banks were at US$26
billion at the end of December 2015, an increase over the
US$20 billion reported at the end of December 2014.

S&P estimates Russia's gross external financing requirement for
2016 at just over 70% of CARs plus usable reserves. "Our figure
for CBR-usable reserves deducts foreign currency investments made
by the CBR on behalf of the government (about US$100 billion in
2015) from the bank's reported foreign currency reserves (US$368
billion). By this definition, we forecast reserve coverage of
current account payments at more than seven months," said S&P.

"We project that the general government deficit will rise toward
3.5% of GDP on average in 2016-2019, compared with about 2.8% in
our October 2015 projections. Ruble depreciation supports the
central government's fiscal position because its hydrocarbon
revenues are for the most part priced in U.S. dollars. The
general government posted a deficit of 3.6% of GDP in 2015, with
the central government deficit at 2.4% of GDP, the local and
regional government deficit at 0.2% of GDP, and a deficit of 0.8%
on the social security balance due to a one-off transfer made
from the state pay-as-you-go pension system to the private
pension fund. We expect the general government deficit to widen
to 4.4% of GDP in 2016. This incorporates our expectation that
the central government deficit will reach 3.8% of GDP, the
deficit at the local and regional government level will widen to
0.7% of GDP and the social security system will largely return to
balance. Our central government deficit estimate for 2016
includes our expectation that the government will spend 0.3% of
GDP in recapitalizing Vnesheconombank. We expect the government
to present an amended budget to the parliament in the second
quarter of 2016, which incorporates the current market
conditions," said S&P.

The modest general government net debt position is a rating
strength, as is the government's low interest burden as a
percentage of revenues. The central government's Reserve Fund and
National Wealth Fund together totaled about 11% of GDP in 2015.
S&P adjusts the level of these assets downward by about 2
percentage points of GDP, due to what S&P considers non-liquid
investments. In S&P's opinion, the central government will
progressively liquidate a substantial portion of these assets to
fund upcoming fiscal deficits and to increase its support to the
economy and the financial system. S&P projects the government's
net debt position will rise to 13% of GDP by 2019.

Russia's financial system has weakened and therefore limits the
CBR's ability to transmit monetary policy. In S&P's opinion, the
CBR faces difficult monetary policy decisions while it targets
inflation of 4% in 2017 and at the same time supports sustainable
GDP growth. These challenges result from the inflationary
effects of exchange-rate depreciation and sanctions from the
West, as well as the counter-sanctions imposed by Russia.

S&P said "We anticipate that asset quality in the financial
system will deteriorate, given the economic recession in 2015 and
2016, the weaker ruble, and pressure on available funding due to
weaker investor confidence and restricted access of key areas of
the economy to international capital markets due to sanctions."

In December 2014, the CBR increased its key interest rate by 750
basis points over five days to 17%. This was to stem the sharp
depreciation of the ruble and curb inflation. The CBR has since
reduced its key rate to 11% to support economic growth. The ruble
is currently trading around RUB77 to the dollar, compared with
about RUB35 in mid-2014. The interest rate on interbank loans
increased substantially in December 2014, to well above the key
rate, although it has since moderated. "We see such movements in
financial instrument rates as strong indicators of a weak
monetary transmission mechanism. We expect that credit to the
economy will be curtailed, which will likely further undermine
growth. Given the pass-through of more expensive imports to
domestic prices generally, we expect inflation to remain
elevated, at about 9% in 2016, but reduced from 13% in 2015,"
said S&P.

"We view Russia's institutional and governance effectiveness as a
rating weakness. Political power is highly centralized with few
checks and balances, in our opinion. We do not currently expect
that the government will be able to effectively tackle the long-
standing structural obstacles to stronger economic growth
(perceived corruption, the weak rule of law, the state's
pervasive role in the economy, and the challenging business and
investment climate) over our 2016-2019 forecast horizon," said
S&P.

OUTLOOK

The negative outlook reflects S&P's view that, over the next 12
months, fiscal buffers could deteriorate faster than it currently
expects. Specifically, the ratings could come under pressure if
S&P were to project that the accumulation of government debt
would accelerate toward 3% of GDP per year, or annual interest
payments were to rise above 5% of government revenues. S&P could
also lower the ratings if geopolitical events were to result in
foreign governments' significantly tightening the sanctions
regime applied to Russia, which S&P currently considers unlikely.

S&P could revise the outlook to stable if Russia's financial
stability and economic growth prospects were to improve.

In accordance with S&P's relevant policies and procedures, the
Rating Committee was composed of analysts that are qualified to
vote in the committee, with sufficient experience to convey the
appropriate level of knowledge and understanding of the
methodology applicable. At the onset of the committee, the chair
confirmed that the information provided to the Rating Committee
by the primary analyst had been distributed in a timely manner
and was sufficient for Committee members to make an informed
decision. After the primary analyst gave opening remarks and
explained the recommendation, the Committee discussed key rating
factors and critical issues in accordance with the relevant
criteria. Qualitative and quantitative risk factors were
considered and discussed, looking at track-record and forecasts.

The committee agreed that the key rating factors were unchanged.

The chair ensured every voting member was given the opportunity
to articulate his/her opinion. The chair or designee reviewed the
draft report to ensure consistency with the Committee decision.
The views and the decision of the rating committee are summarized
in the above rationale and outlook. The weighting of all rating
factors is described in the methodology used in this rating
action.

RATINGS LIST

                                  Rating         Rating
                                  To             From
Russian Federation
Sovereign Credit Rating
  Foreign Currency                BB+/Neg/B      BB+/Negative/B
  Local Currency                  BBB-/Neg/A-3   BBB-/Neg/A-3
  Russia National Scale           ruAAA/--/--    ruAAA/--/--
Transfer & Convertibility
  Assessment                      BB+            BB+
Senior Unsecured
  Foreign Currency                BB+            BB+
  Local Currency                  BBB-           BBB-


RUSSIA: Moody's Says Bankruptcy Law Won't Hit RMBS, ABS
-------------------------------------------------------
Overall, the new law will affect only a limited number of cases
in portfolios backing residential mortgage-backed securities
(RMBS) and asset-backed securities (ABS) in Russia (Ba1 stable),
and most domestic servicers will not materially change their
servicing processes in response to the details of the law, says
Moody's Investors Service.

"The new law introduces a legal mechanism for individual debt
restructuring and encourages lenders to devise repayment plans
rather than sell the assets in the event of a borrower's
bankruptcy," says Lyudmila Udot, a Moody's Assistant Vice
President, Analyst.

"Furthermore, there are other aspects of the law that will limit
the credit impact; for example, recoveries on secured lending --
including principal due to RMBS and ABS noteholders -- will not
be materially affected, as they cannot be written-off. Also, the
bankruptcy process will actually increase principal recoveries on
unsecured lending, through safeguards against excessive write-
offs," Ms. Udot explains.

The new sector comment, entitled "RMBS/ABS - Russia: New
Bankruptcy Law Will Have Only Minor Impact on Russian RMBS and
ABS Performance, Despite Rising Consumer Loan ArreARS", is now
available on www.moodys.com.

Moody's says that the time from default to repossession may
increase because a lender cannot repossess (1) in between the
case being accepted and the restructuring plan being finalized;
and (2) over the duration of the repayment plan if the sale of
the property is not agreed as a part of such plan. Moody's
assumes an average of three yeARS to foreclosure for the cities
of Moscow (Ba1 stable) and St Petersburg (Ba1 stable) and four
yeARS for other regions in its RMBS methodology. The maximum
duration of a repayment plan under the law is three yeARS.

"However, the increase in the late stage arreARS in consumer debt
in Russia observed in 2015 may prompt an increase in the number
of declared bankruptcies under the new law. It remains an open
question as to the degree to which bankruptcies will rise as a
consequence of higher consumer debt arreARS, albeit that
potential performance issues will be limited by the small number
of cases that we expect will arise in the securitised pools,"
says Greg Davies, a Moody's Assistant Vice President.

The Law of Bankruptcy of Individuals (Federal Law N127-FZ, on
bankruptcy of individuals) came into effect on October 1, 2015.
The court practice of implementation is limited and may further
change Moody's views on the impact.


SME BANK: S&P Lowers ICRs to 'BB-' Over Ownership Change
--------------------------------------------------------
Standard & Poor's Ratings Services lowered its foreign and local
currency long-term issuer credit ratings on SME Bank to 'BB-'
from 'BB+' and 'BBB-', respectively. The outlook is negative. S&P
also affirmed the 'B' foreign currency short-term rating on the
bank and lowered the local currency short-term rating to 'B' from
'A-3'.

At the same time, S&P lowered its rating on its senior unsecured
notes to 'BB-' from 'BBB-'.

S&P also removed all the ratings from CreditWatch, where they
were placed with negative implications on June 30, 2015.

The rating actions are based on the fact that, after the ultimate
ownership exchange in April 2016, SME Bank will no longer be part
of Vnesheconombank (VEB) group. "We therefore think that SME Bank
can no longer be regarded as a core subsidiary of VEB group and
no longer equalize our rating on the bank with our assessment of
the VEB group credit profile (GCP). Instead, apart from the bank
criteria, we now rate the bank under our government-related
entity (GRE) criteria, factoring in our view of the Russian
government's high likelihood of providing extraordinary support
to SME Bank. We have affirmed our assessment of SME Bank's stand-
alone credit profile (SACP) at 'b'," said S&P.

S&P originally placed its ratings on SME Bank on CreditWatch with
negative implications on June 30, 2015, based on the Russian
government's decision to transfer the control over SME Bank from
VEB group to the new GRE the Federal Corporation for The
Development of Small and Medium Enterprises (FCDSME).

In late December 2015, an agreement between VEB and FCDSME was
signed, under which FCDSME assumed VEB's ownership stake in the
bank's capital under trust management. Under this agreement, VEB
retained its control over SME Bank's activities and remained
committed to providing it with financial support.

However, S&P understands that in April 2016, this arrangement
will be followed by the full transfer of VEB's ownership in SME
Bank to FCDSME, and VEB will in turn become a minority
stakeholder in FCDSME. Consequently, S&P thinks that SME Bank's
access to VEB group's support will become uncertain and no longer
equalize its rating on the bank with our assessment of the VEB
GCP.

As FCDSME's business model is only emerging, S&P considers that
its ability and willingness to support SME Bank still has to be
tested, along with the mechanism of providing financial support
to the bank. Therefore S&P does not provide any uplift to SME
Bank's rating for support from FCDSME. S&P also believes
that the government would mitigate the effects of potential
negative extraordinary intervention from the group; yet such
innervations are very unlikely, in S&P's view.

However, S&P still regard SME Bank as a GRE with a high
likelihood of timely and sufficient extraordinary support from
the Russian government. This is based on SME Bank's:

-- Important role in implementing the state's public policy in
    the development of the SME (small and midsize enterprise)
    sector. Its loans are estimated by the bank at about 1.5% of
    total bank lending to SMEs in Russia, microcredits to SMEs
    represent 11%, and leasing to SMEs accounts for 2.5%. S&P
    estimates the bank accounts for over 20% of long-term loans
    to SMEs. S&P notes, however, that from the government's point
    of view, SME Bank's importance is seen not in terms of market
    share, but in its role in the development of SME lending
    infrastructure and new products, closing market gaps, and
    keeping interest rates low.

-- Very strong link with the Russian Federation. The state's
    full ownership and strong oversight of the bank's business
    and financial plans will, in S&P's view, continue. In
    addition to its functions related to supporting SMEs, SME
    Bank has a role as a Russian government agency in charge of a
    small portion of budget loans previously issued by the
    government. SME Bank is Russia's sole entity with a primary
    focus on financing SME lending infrastructure companies, such
    as leasing and factoring institutions, and providing funding
    to regional banks and other financial institutions. The
    bank provides financing to almost 150 banks across Russia.

"Our long-term rating on SME Bank is therefore two notches higher
than our assessment of the bank's 'b' SACP," said S&P.

SME Bank's SACP reflects the 'bb-' anchor for a bank operating
primarily in Russia. Strong capitalization is the rating factor
currently supporting SME Bank's financial strength, in S&P's
opinion. S&P's assessment of the bank's SACP reflects its view of
its business position as moderate, supported by its adequate
strategy and business stability, only moderate concentration, and
its risk position as moderate. The moderate risk position
reflects risks related to lending to many small Russian SME
financial institutions, especially in the current macroeconomic
conditions that S&P considers to be challenging for the Russian
banking sector.

S&P said, "We still view the bank's funding and liquidity as
moderate. However, we revised our assessment on funding to below
average. This is due to the fact that there is no clarity
currently on how funding and liquidity support will be arranged
once the ownership over SME Bank is fully transferred to FCDSME.
While under VEB ownership, the bank's funding base was very
concentrated and consisted primarily of capital and funding from
VEB and the Central Bank of Russia. Given that FCDSME is not a
bank, we are not clear on how funding and liquidity support for
SME Bank will be arranged in the future.

"The negative outlook reflects our view that there is at least a
one-in-three possibility that we could lower the ratings over the
next 12 months. In our view, there is currently a lack of
visibility regarding SME Bank's future position and relationship
with its new owner, FCDSME, whose functions, business model, and
role are developing. Depending on the ultimate shape of these, we
could still revise downward our view on the likelihood of
extraordinary government support, and the bank's funding and
liquidity profile.

"We could take a negative rating action if we considered that the
likelihood of timely extraordinary government support to the bank
has reduced, for instance, if we were to conclude that the
transfer to the new owner implied a less important role for the
government, or if we saw the new setup weakening the government's
link with the entity. Negative rating actions could also follow
if we saw a combination of a lower SACP, potentially as a result
of the bank's liquidity and funding position weakening, and the
downgrade of the local currency ratings on the bank's ultimate
owner, the Russian Federation.

"We could revise the outlook to stable if we considered that the
setup of FCDSME and procedures of its interaction with SME Bank
are clear and pose no risk to the likelihood of timely
extraordinary support to the bank from the Russian government.
Further clarity on and a verification of our current assessment
of the bank's funding and liquidity profile could also result in
a stable outlook."


TULA CITY: Fitch Assigns 'BB-' LT Currency Issuer Default Ratings
-----------------------------------------------------------------
Fitch Ratings has assigned the Russian City of Tula Long-term
foreign and local currency Issuer Default Ratings (IDRs) of 'BB-'
with Stable Outlooks and a Short-term foreign currency IDR of
'B'. The agency has also assigned the city a National Long-term
rating of 'A+(rus)' with Stable Outlook.

KEY RATING DRIVERS

The ratings reflect Tula's projected structural imbalances,
weaker than historical average fiscal performance in the medium
term and Russia's weak institutional framework amid a
deteriorated macro-economic trend. The ratings also consider the
city's low debt with moderate exposure to refinancing risk along
with continued support from Tula Region (BB/Stable).

In its base case scenario, Fitch expects satisfactory fiscal
performance with modest deterioration of the city's operating
margin to close to zero level in 2016-2018 (2011-2015: average
1.9%). We also expect Tula to run a modest deficit before debt
variation of about 5%-6% of total revenue in 2016-2018, after the
city's deficit widened to 8% of total revenue by end-2015 from
6.6% a year earlier, underpinned by opex growth.

Fitch expects continued opex pressure on Tula's fiscal
performance to prevail at least in 2016, with the rate of opex
growth surpassing that of operating revenue. The city's operating
expenditure was on 80% composed of inflexible staff costs and
current transfers of various kinds in 2012-2015.

On the revenue side, Tula receives current transfers from the
regional budget, which increased to 42% of operating revenue in
2015 from 19% in 2011. In the medium term, current transfers
could further increase up to 45% of the city's operating revenue.
This follows a reshuffling of revenue allocation and expenditure
assignment between the city and the region in 2014-2015.
Conversely, taxes decreased to 49% of operating revenue in 2015
from 75% in 2011, as the region assumed responsibilities for pre-
school teachers' 2013-2014 salaries, changing tax sharing on
personal income tax and tax levied in accordance with the
simplified tax system in its favour.

Fitch views Russia's institutional framework for local and
regional governments (LRGs) as a constraint on the city's
ratings. It has a shorter track record of stable development than
many of its international peers. Weak institutions lead to lower
predictability of Russian LRGs' budgetary policies, narrow their
planning horizon and hamper long-term development plans. The
city's policies tend to be shaped by frequent changes in
allocation of revenue and expenditure responsibilities between
the tiers of government.

Fitch expects Tula's direct risk to remain moderate in the medium
term, despite estimated growth to about 28% of current revenue in
2016 and further to about 35%-37% in 2017-2018 from the
historical low average of 15% in 2011-2015. We expect the city to
retain use of bank loans as the prime source of budget deficit
financing in 2016-2018. The city's 2015 indebtedness was 65%
composed of short-term bank loans, followed by budget loans from
Tula Region (35%).

Fitch assesses the city's exposure to refinancing risk on market
debt as moderate due to a reasonable amount of outstanding
maturities in 2016 (RUB1.5 billion). We also expect the city's
debt servicing capacity to become fragile in the medium term.
This will result from a projected drop in operating balance to a
level consistently insufficient to cover increased interest
payments, which are expected to increase 6x in 2016-2018 against
the historical five-year average. The increase in interest costs
is likely to reflect volatile interest rates in Russia as well as
projected growth in the city's debt in 2016-2018.

Tula's exposure to contingent risk is low, as its public sector
is very compact with few public sector entities, which had no
outstanding debt in 2014-2015. Additionally the city currently
has no outstanding guarantees and is unlikely to issue new ones
according to our base case scenario.

With a population of 551,270 inhabitants, the city is Tula
Region's capital and its largest metropolitan area. The region's
economy is fairly well diversified with strong industrial
profile; industries composed 37% of gross value added (GVA) in
2013. Economically Tula benefits from close proximity to the city
of Moscow (BBB-/Negative), the country's capital and its largest
market.

The region's wealth metrics were close to the median Russian
figures, as its average salary was in line with the national
median while GRP per capita was 12% below in 2014. In 2015, the
estimated growth rate of the region's economy was 2.4% in real
terms in contrast to estimated 3.7% decline of national GDP
reflecting the deterioration of the macroeconomic environment in
Russia.

RATING SENSITIVITIES

Sustainable fiscal performance with operating surplus at about 5%
of operating revenue and maintenance of moderate direct risk
below 50% of current revenue, conducive for sufficient coverage
of interest payments would lead to an upgrade.

Material growth of direct risk above 50% of current revenue,
along with deterioration in fiscal performance leading to weak
operating balance insufficient to cover interest payments would
lead to a downgrade.



=========
S P A I N
=========


AYT CAIXA LAIETANA I: Fitch Affirms 'CCCsf' Rating on Cl. D Notes
-----------------------------------------------------------------
Fitch Ratings has affirmed five AyT RMBS transactions and revised
the Outlooks on two tranches to Stable from Negative. A full list
of rating actions is at the end of this rating action commentary.

The transactions are part of a series of RMBS transactions that
are serviced by: Kutxabank, S.A. (Kutxabank; BBB/Positive/F3) for
AyT CGH BBK I and AyT CGH BBK II, Bankia S.A. (Bankia;
BB/Positive/B) for AyT CGH Caixa Laietana I and Banco Mare
Nostrum S.A (BMN; BB/Stable/B) for AyT CGH Caja Granada and AyT
Caja Murcia Hipotecario II.

KEY RATING DRIVERS

Stable Credit Enhancement (CE)

The notes in AyT CGH Caja Granada, AyT CGH Caixa Laietana I, AyT
CGH BBK I and AyT CGH BBK II are currently paying sequentially.
As delinquencies are above the trigger levels we do not expect a
switch to pro-rata in the near future. Fitch considers the
existing and projected CE as sufficient to support the ratings,
as reflected in their affirmation and the revision of the Outlook
on two tranches to Stable from Negative.

For AyT Murcia Hipotecario II, the stable performance has led to
a switch to pro-rata amortization. As delinquencies remain low
and the reserve fund is currently at its target, a reversal to
sequential is not expected.

Stable Arrears Performance

AyT CGH Caja Granada and AyT CGH Caixa Laietana I have shown
weaker asset performance compared with other Spanish
transactions. The level of three-months plus arrears (excluding
defaults) as a percentage of the current pool balance was 2.0%
and 3.5%, respectively. Although these numbers are decreasing,
they remain significantly above Fitch's prime index of three-
months plus arrears (excluding defaults) of 1.0%.

The remaining deals continue to show stable asset performance. As
of the latest reporting periods, three-months plus arrears
(excluding defaults) ranged from 0.7% (AyT Murcia Hipotecario II)
to 1% (AyT CGH BBK I) of the current pool balances. These levels
remain in line with the Fitch Spanish Prime index.

Cumulative defaults, defined as mortgages in arrears by more than
18 months, are currently below the average for the sector, but
have increased sharply in recent periods in both AyT CGH Caja
Granada and AyT CGH Caixa Laietana I. Given the high level of
late stage arrears in both deals, Fitch notes further increases
in gross cumulative defaults may be possible.

Excess spread has not always been sufficient recently for default
provisioning purposes, which resulted in some reserve fund draws
during 2015. As of the last payment date, the reserve funds were
at 82.5%, 52.2% and 0% of their target for AyT CGH BBK II, AyT
CGH Caixa Laietana I and AyT CGH Caja Granada, respectively. In
contrast, AyT Murcia Hipotecario II and AyT CGH BBK I have fully
funded reserve funds.

High Mortgage Prepayments


Both AyT CGH Caja Granada (40.3% per year) and AyT CGH Caixa
Laietana I (10.6% per year) have reported high mortgage
prepayments, significantly above the market average (4.3% per
year). As these rates are not consistent with the current
macroeconomic environment and levels observed in the market,
Fitch cannot rule out the possibility that some prepayments are
the result of originator support for troubled borrowers by means
of refinancing. If refinancing in such circumstances has been
offered in the past, it may not be sustained indefinitely, which
could translate into further defaults.

Payment Interruption Risk

Although the swap documents enable deferral of the swap payments,
Fitch considers the reserve fund insufficient to sustain ratings
above the 'Asf' category for AyT CGH Caixa Laietana I given the
absence of other liquidity means to cover for payment
interruption.

For AyT CGH Caja Granada and AyT Murcia Hipotecario II, dynamic
cash reserves are sized to cover for one and two payment dates
worth of interest on tranche A and senior fees, respectively.
However, for AyT CGH Caja Granada, Fitch considers the cash
reserves combined with the fully utilised reserve funds
insufficient to fully cover payment interruption risk. Swap
payment deferral is possible for AyT Caja Granada but the ratings
will not be upgraded above 'Asf' as long as payment interruption
risk is not fully mitigated. In the case of AyT Murcia
Hipotecario II, Fitch considers the risk to be sufficiently
mitigated.

For AyT CGH BBK I, Fitch found the amortising reserve fund
insufficient to fully mitigate payment interruption.
Consequently, the ratings will not be upgraded above 'Asf' as
long as payment interruption risk is not fully mitigated. For AyT
CGH BBK II, Fitch considers the risk to be sufficiently
mitigated.

Absence of Hedging

Fitch believes the removal of the swap and use of fixed interest
rate coupons in both AyT CGH BBK I and BBK II introduces a basis
risk to the transactions, which we have factored into the
analysis. Nevertheless, the agency considers the available CE
sufficient to withstand the resulting stresses.

Commingling Exposure

Fitch believes the transactions are exposed to a commingling loss
of more than 50% of the monthly collections in the event of
default of the collection account bank. This is based on
information provided by the servicers regarding borrower payment
distribution, which indicates payments are concentrated in few
particular dates of every month for AyT CGH Caixa Laietana I and
AyT CGH Caja Granada. Fitch also considers there is commingling
loss exposure in the remaining deals as there is no certainty
regarding the timely cessation of further payments into the
commingled accounts. The agency has captured this additional
stress in its analysis and found the current CE is sufficient to
mitigate the risk.

Maturity Extensions

Based on information provided by the servicers Fitch found that
some borrowers in all transactions have been offered maturity
extensions to their loans. Fitch considers this signals a weaker
borrower profile and has increased the foreclosure frequency for
these loans. The agency found the current CE is sufficient to
mitigate the risk.

RATING SENSITIVITIES

A worsening of the Spanish macroeconomic environment, especially
employment conditions, or an abrupt shift of interest rates could
jeopardise the underlying borrowers' affordability.

The ratings are also sensitive to changes to Spain's Country
Ceiling (AA+) and, consequently, changes to the highest
achievable rating of Spanish structured finance notes (AA+sf).

DUE DILIGENCE USAGE

No third party due diligence was provided or reviewed in relation
to this rating action.

DATA ADEQUACY

Fitch has checked the consistency and plausibility of the
information it has received about the performance of the asset
pools and the transactions. There were no findings that were
material to this analysis. Fitch has not reviewed the results of
any third party assessment of the asset portfolio information or
conducted a review of origination files as part of its ongoing
monitoring.

Fitch did not undertake a review of the information provided
about the underlying asset pools ahead of the transactions'
initial closing. The subsequent performance of the transactions
over the years is consistent with the agency's expectations given
the operating environment and Fitch is therefore satisfied that
the asset pool information relied upon for its initial rating
analysis was adequately reliable.

Overall, Fitch's assessment of the information relied upon for
the agency's rating analysis according to its applicable rating
methodologies indicates that it is adequately reliable.

SOURCES OF INFORMATION
The information below was used in the analysis.

Loan-by-loan data obtained from the European Data Warehouse with
a cut-off date of:
17/12/2015 for AyT CGH Caixa Laietana I
30/01/2016 for AyT CGH BBK I and II
13/11/2015 for AyT CGH Caja Granada
30/09/2015 for AyT Caja Murcia Hipotecario II

Transaction reporting provided by Haya Titulizacion since close
and until:
September 2015 for AyT CGH Caixa Laietana I and AyT CGH BBKI
November 2015 for AyT CGH Caja Granada
December 2015 for AyT CGH BBK II
January 2016 for AyT Caja Murcia Hipotecario II

The rating actions are as follows:

AyT CGH Caixa Laietana I:
Class A notes (ISIN ES0312273487): affirmed at 'A+sf'; Outlook
Stable
Class B notes (ISIN ES0312273495): affirmed at 'BBBsf'; Outlook
revised to Stable from Negative
Class C notes (ISIN ES0312273503): affirmed at 'BBsf'; Outlook
Negative
Class D notes (ISIN ES0312273511): affirmed at 'CCCsf'; RE 55%

AyT CGH Caja Granada:
Class A notes (ISIN ES0312273164): affirmed at 'A-sf'; Outlook
revised to Stable from Negative
Class B notes (ISIN ES0312273172): affirmed at 'Bsf'; Outlook
Negative
Class C notes (ISIN ES0312273180): affirmed at 'CCCsf'; RE 50%
Class D notes (ISIN ES0312273198): affirmed at 'CCsf'; RE 0%

AyT CGH BBK I
Class A notes (ISIN ES0312273008): affirmed at 'A-sf'; Outlook
Stable

AyT CGH BBK II
Class A notes (ISIN ES0312273362): affirmed at 'AA-sf'; Outlook
Stable;
Class B notes (ISIN ES0312273370): affirmed at 'BBBsf'; Outlook
Stable

AyT Caja Murcia Hipotecario II
Class A (ISIN ES0312272000): affirmed at 'AA-sf'; Outlook Stable
Class B (ISIN ES0312272018): affirmed at 'A+sf'; Outlook Stable
Class C (ISIN ES0312272026): affirmed at 'BB+sf'; Outlook Stable



===========================
U N I T E D   K I N G D O M
============================


ECO-BAT TECHNOLOGIES: Moody's Cuts Corporate Family Rating to B2
----------------------------------------------------------------
Moody's Investors Service downgraded the corporate family rating
(CFR) to B2 from B1 and the probability of default rating (PDR)
to B2-PD from B1-PD for lead recycling company Eco-Bat
Technologies Limited ("Eco-Bat"). Concurrently, Moody's affirmed
the B3 rating on the senior notes due 2017 assigned at Eco-Bat
Finance plc. The outlook on all ratings remains negative.

RATINGS RATIONALE

The downgrade reflects Moody's expectations that Eco-Bat's
margins and EBITDA will remain under pressure in 2016 as factors
such as the reduced commodity prices, predominantly lead and
silver, are likely to largely offset the previously expected
tailwinds from meaningful capacity expansions and expected volume
growth in non-lead products. Eco-Bat's margins have been under
pressure over a number of years from various factors that
included declining commodities prices, a more challenging
sourcing environment and rising feedstock prices relative to LME
(London Stock Exchange) lead prices, although relative feedstock
prices have stabilized in the last year. The reduced margins
combined with meaningful capex requirements in the business,
including to maintain state-of-the-art environmental efficiency
and safety standards, weigh on the company's free cash flow
generation capacity.

The rating downgrade also considers the uncertainty related to
the Payment in Kind (PIK) note at EB Holdings II, Inc., which is
the holding company of Eco-Bat. Although the PIK note is outside
the Eco-Bat restricted group, it continues to create uncertainty
regarding the shareholders' intentions to refinance it, which
could lead to dividend payments or additional debt being raised
at Eco-Bat level or its subsidiaries. Whilst some event risk
related to the PIK note is factored into the rating and outlook,
Moody's also notes that any large and significant transaction
affecting Eco-Bat could still lead to an immediate negative
rating action.

However, it is also important to note that Moody's views the lead
market as more stable than other parts of the commodities sector.
Lead recycling through collection of local or regional scrap
batteries, for example, remains the predominant lead source with
very limited primary lead production. Accordingly, the
supply/demand balance for lead is somewhat less exposed to a
slowdown in China compared with other metals such as copper.
Often feedstock providers and end customers remain the same, for
example in the company's tolling business where it takes a
customer's scrap batteries and converts the scrap into pure lead
and lead alloys for a fee. These tolling arrangements accounted
for 37% of its total lead sales volumes (9 months to September
2015), up from 33% in the prior year period. However, the company
remains exposed to market price movements for its remaining
sales, particularly for spot sales that accounted for 22% of lead
sales in the 9 months to September 2015. Silver, the company's
most important additional product from its recycling operations,
also remains under greater price pressure in Moody's view.

However, the rating also remains supported by the company's scale
and strong market positions in lead recycling across a number of
countries in Europe such as the UK, France, Germany, Italy and
Austria, as well as in the US. It also reflects (1) the
increasing proportion of the company's revenues that is derived
from non-lead products, which provides for additional
diversification; (2) the company's efforts to reduce its exposure
to lead price and feedstock volatility; and (3) significant cash
balance, reflecting the company's prudent liquidity management.

Moody's notes that the company confirmed that it has engaged in
discussions with its banks to address the upcoming 2016 bank debt
maturities and is also looking into its options for the senior
notes maturing in 2017. As of September 2015, Eco-Bat continues
to carry cash in excess of its debt and this continues to be a
balancing factor for the company's otherwise high gross leverage
for the current rating.

Rating Outlook

The negative outlook mainly reflects the rising event risk
related to the large PIK note of Eco-Bat's parent company EB
Holdings II, Inc., which is outside the restricted group of the
senior notes. However, Eco-Bat's theoretical ability to increase
debt and to upstream dividends under its debt terms, although it
hasn't done so for the past years, and the possibility that the
financial policy may change following a potential default of the
PIK note, creates some risk that Eco-Bat's credit profile could
be negatively affected from any PIK refinancing, restructuring or
default.

What Could Change the Rating -- UP

Upgrade pressure would likely require greater certainty that Eco-
Bat's resources will not ultimately be used to support the PIK
note. Moody's would also expect the company to display EBITDA
growth and EBITDA margin improvements towards high single-digits
on a sustainable basis.

What Could Change the Rating -- DOWN

Downward rating pressure could arise if Eco-Bat's operating
performance and credit metrics weaken, for example if Moody's
adjusted EBITDA margin declines below 5% or the company's
favourable net debt/EBITDA position would weaken. The ratings
could also come under negative pressure following the use of the
company's resources to support the PIK note. Any material debt-
funded acquisition could also create downward rating pressure.

Headquartered in Matlock, UK, Eco-Bat Technologies Limited is the
world's largest producer of lead based on tonnes sold. Around 88%
of the company's total lead output is from secondary lead
smelting, mostly the recycling of spent automotive and industrial
lead-acid batteries. The company is privately held, with 86.9%
controlled by its chairman, Howard Meyers, and his family. For
the 12 months to December 2014, Eco-Bat reported GBP1.5 billion
of revenues.


PENDRAGON PLC: S&P Affirms 'BB-' LT Corporate Credit Rating
-----------------------------------------------------------
Standard & Poor's Ratings Services affirmed its 'BB-' long-term
corporate credit rating on U.K.-based auto retailer Pendragon
PLC.

S&P subsequently withdrew the rating on Pendragon at the issuer's
request. At the time of the withdrawal, the outlook was stable.

At the same time, S&P withdrew its issue and recovery ratings on
Pendragon's GBP175 million senior secured notes.

On Feb. 16, 2016, Pendragon published a redemption notice to its
bondholders and requested all its ratings be withdrawn.

At the time of the withdrawal, S&P's 'BB-' corporate credit
rating on the company reflected its assessment of its business
risk profile as weak and its financial risk profile as
aggressive. S&P's view factors in the company's leading market
share in the U.K., its good brand diversification, and
significant portion of profitable aftermarket sales. However, S&P
thinks that the company is exposed to the cyclicality of
automotive end-markets, especially for new car sales, and has
limited bargaining power with automakers.

S&P said, "We think that the company will continue to grow
through market share gains, investments, and bolt-on
acquisitions. Pendragon reported 11.3% revenue growth in 2015,
supported by strong growth of 18.4% in new car sales and 13.9% in
used car sales. The gross reported profit came to รบ549 million
for 2015 (+5%), while the margin declined to 12.3% from 13.1% as
lower margin segments' contribution increased faster than more
profitable aftersales."

At the time of withdrawal, S&P assessed the company's liquidity
as adequate. Also, the rating benefitted from a one-notch upward
adjustment for S&P's comparable ratings analysis, based on its
view that Pendragon's business risk profile is at the stronger
end of S&P's weak category.

The stable outlook at the time of withdrawal reflected S&P's
expectation that Pendragon would continue to demonstrate Standard
& Poor's-adjusted funds from operations above 15% and adjusted
debt to EBITDA below 4x in the next two years.


POWA TECHNOLOGIES: In Administration, 311 Jobs at Risk
------------------------------------------------------
Andrew Trotman at The Telegraph reports that Powa Technologies,
once one of the UK's most valuable tech companies, has collapsed
into administration, putting 311 jobs at risk.

The company, which founder Dan Wagner claimed was worth US$2.7
billion (GBP1.9 billion), has appointed Deloitte to oversee a
sale of the London-based business as a going concern, The
Telegraph relates.

"Having just been appointed, we are currently assessing the
company's position and our options.  These will center around
seeking to sell the constituent businesses as going concerns,"
The Telegraph quotes Nick Edwards -- nedwards@deloitte.co.uk --
joint administrator and partner in Deloitte's restructuring
services practice, as saying.

Powa, which was founded in 2007, has struggled since collecting
US$76 million from a funding round in 2013 -- a move welcomed by
David Cameron as contributing to the economic recovery, The
Telegraph relays.

The company had raised at least US$175 million in total, and was
reportedly eyeing a stock market flotation as recently as last
year, The Telegraph discloses.  However, reports have claimed the
company had recently missed payments to staff and suppliers, and
had debts of GBP11.5 million and just GBP175,000 in the bank, The
Telegraph notes.

Powa Technologies is a mobile commerce group.


PRIORY GROUP: Fitch Withdraws 'B+' LT Issuer Default Rating
-----------------------------------------------------------
Fitch Ratings has withdrawn UK-based provider of behavioral
healthcare services Priory Group No. 3 plc's (Priory) ratings,
including its 'B+' Long-term Issuer Default Rating (IDR).

KEY RATING DRIVERS

Fitch is withdrawing the ratings of Priory following completion
of the acquisition of Priory by US-based Acadia Healthcare
Company, Inc. (Acadia) and the repayment of Priory's outstanding
debt, effective 16 February 2016.

Accordingly, Fitch will no longer provide ratings or analytical
coverage for Priory.

RATING SENSITIVITIES

Not applicable.

FULL LIST OF RATING ACTIONS

Priory Group No. 3 plc
-- Long-term IDR 'B+'; Outlook Stable; withdrawn
-- Senior secured notes 'BB+'/'RR1'; withdrawn
-- Senior notes 'BB+'/'RR1'; withdrawn


RILEY BROTHERS: Owes GBP1 Million at Time of Administration
-----------------------------------------------------------
Pete Magill at Lancashire Telegraph reports that Riley Brothers
owed nearly GBP1 million to a truck supplier when it went under.

According to Lancashire Telegraph, administrators KMPG say debts
totaling GBP1.9 million had been racked up by the operation,
based at Dunnockshaw, near Burnley, where 130 staff were sacked
last December.

But the bulk of the outside losses were to truck giants Volvo,
according to a final insolvency report, with a GBP993,991
liability listed, with GBP52,418 also owed to Yorkshire Bank,
Lancashire Telegraph discloses.

Administrator Paul Flint -- paul.flint@kpmg.co.uk -- said that
the partnership "operated at very low margins" due to the
fluctuating price of lamb, which they could not always pass on to
customers, Lancashire Telegraph relates.

Mr. Flint, as cited by Lancashire Telegraph, said that by
November last year creditors were threatening legal action and
the company was also having difficulties securing insurance
cover.

The administrators say the only options open to them now are
either a company voluntary arrangement, to enter creditors'
voluntary liquidation or have the company wound up, as there are
no tangible assets left, Lancashire Telegraph notes.

Lancashire Telegraph is a Lancashire abattoir firm.



===============
X X X X X X X X
===============


* Fitch Says 2016 AT1 Issuance Suffers in Volatile Markets
----------------------------------------------------------
European bank additional tier 1 (AT1) issuance is weak so far
this year and this is likely to persist until market participants
become more comfortable with coupon omission, extension and
bail-in risks, says Fitch Ratings.

Although prices have picked up this week, the sharp fall in
prices of European bank AT1s in January and early February 2016
has driven up yields on these instruments, making them far more
expensive to issue.

European Union regulation says that banks failing to meet their
combined buffer requirements face restrictions on distributions
and are subject to a maximum distributable amount (MDA)
limitation. The restrictions apply to distribution of profit,
payments in connection with common equity tier 1 (CET1), variable
remunerations such as bonuses, discretionary pension
contributions and AT1 instrument payments.

When a bank fails to meet or exceed its combined buffer
requirements, it cannot distribute more than the MDA. If a bank
breaches its combined buffer requirement due to a loss, we expect
that there will be an automatic restriction on any discretionary
payment, including payments on AT1 instruments.

For eurozone banks, the hurdle for determining whether a bank has
breached its capital buffer requirements increased in January
2016 when the European Central Bank (ECB) confirmed that it will
follow an opinion issued by the European Banking Authority (EBA)
in December 2015. Pillar 2 capital requirements were brought into
the equation, meaning that distributions cannot be made if Pillar
1, Pillar 2 and combined buffer requirements are breached.

The final outcome on coupon payment restrictions is uncertain
because the EBA's opinion is that the European Commission should
review the automatic prohibition on distributions relating to AT1
instruments when a bank makes no profit in a given year.

An increasing number of eurozone banks are disclosing their CET1
capital requirements following the 2015 ECB's supervisory review
and evaluation process (SREP). The disclosed requirements range
from 9.5% to 10.5% for banks that have issued Fitch-rated AT1
instruments. We expect the new SREP requirements for some banks
to rise to a high of 12.5% by 2019 as global systemically
important bank and systemic risk buffers are phased in.

The shift in regulatory buffers has had no immediate impact on
our AT1 ratings because we consider the standalone financial
profile, including financial flexibility of each bank and the
actual and expected headroom above each issuer's combined buffer
requirements remains consistent with the AT1 ratings. Extension
risk is not factored into our ratings, but AT1 issuance is
central to capital planning at many banks. Should AT1 pricing
concerns persist and have a knock-on effect on the banks'
capital-raising and broader funding strategies, this could impact
the banks' ratings.


* BOND PRICING: For the Week February 15 to February 19, 2016
-------------------------------------------------------------

Issuer                    Coupon   Maturity Currency  Price
------                    ------   -------- --------  -----
Deutsche Bank AG            7.13              GBP    74.45
Abengoa SA                  8.50  3/31/2016   EUR    12.75
Petrobras Global Finance    5.38  1/27/2021   USD    72.07
Vallourec SA                2.25  9/30/2024   EUR    59.47
Petrobras Global Finance    6.25  3/17/2024   USD    71.25
Repsol International Fina   4.50  3/25/2075   EUR    70.48
Manutencoop Facility Mana   8.50   8/1/2020   EUR    65.01
Glencore Finance Europe S   1.25  3/17/2021   EUR    77.92
Vedanta Resources PLC       9.50  7/18/2018   USD    69.00
Anglo American Capital PL   3.25   4/3/2023   EUR    67.14
Petrobras Global Finance    6.85   6/5/2115   USD    61.25
Vedanta Resources PLC       6.00  1/31/2019   USD    57.00
CSN Resources SA            6.50  7/21/2020   USD    36.88
Rickmers Holding GmbH & C   8.88  6/11/2018   EUR    65.47
Grupo Isolux Corsan Finan   6.63  4/15/2021   EUR    23.22
Petrobras Global Finance    4.38  5/20/2023   USD    64.40
Eramet                      4.50  11/6/2020   EUR    61.09
German Pellets GmbH         7.25 11/27/2019   EUR     1.06
Repsol International Fina   3.88              EUR    74.41
Scholz Holding Gmbh         8.50   3/8/2017   EUR     4.73
German Pellets GmbH         7.25   4/1/2016   EUR     1.59
Abengoa Finance SAU         8.88   2/5/2018   EUR    11.88
Portugal Telecom Internat   4.63   5/8/2020   EUR    52.37
Anglo American Capital PL   2.50  4/29/2021   EUR    67.87
Banco Popular Espanol SA    8.25              EUR    73.52
Glencore Finance Europe S   1.75  3/17/2025   EUR    70.81
Portugal Telecom Internat   4.38  3/24/2017   EUR    78.52
Anglo American Capital PL   1.50   4/1/2020   EUR    71.16
Ajecorp BV                  6.50  5/14/2022   USD    34.00
Casino Guichard Perrachon   1.86              EUR    43.77
Anglo American Capital PL   2.88 11/20/2020   EUR    71.66
CGG SA                      5.88  5/15/2020   EUR    37.95
Vedanta Resources PLC       8.25   6/7/2021   USD    55.25
CMA CGM SA                  7.75  1/15/2021   EUR    75.23
Oi Brasil Holdings Cooper   5.75  2/10/2022   USD    44.97
Delta Lloyd NV              4.38              EUR    64.74
Ensco PLC                   4.70  3/15/2021   USD    55.38
Standard Chartered PLC      5.13   6/6/2034   GBP    76.74
Banco Espirito Santo SA     2.63   5/8/2017   EUR    26.13
Glencore Finance Europe S   1.63  1/18/2022   EUR    76.66
Fiat Chrysler Automobiles   7.88 12/15/2016   USD    59.79
Bank of New York Mellon L   4.40 12/15/2050   EUR    37.69
Gol LuxCo SA                8.88  1/24/2022   USD    30.75
Petroleum Geo-Services AS   7.38 12/15/2018   USD    64.00
Obrascon Huarte Lain SA     4.75  3/15/2022   EUR    68.27
Banco Espirito Santo SA     4.00  1/21/2019   EUR    25.00
Oi Brasil Holdings Cooper   5.63  6/22/2021   EUR    50.25
Portugal Telecom Internat   5.88  4/17/2018   EUR    59.56
German Pellets GmbH         7.25   7/9/2018   EUR     1.18
Rallye SA                   4.00   4/2/2021   EUR    67.62
VistaJet Malta Finance PL   7.75   6/1/2020   USD    41.50
Premier Oil PLC             5.00 12/11/2020   GBP    54.22
Petrobras Global Finance    3.25   4/1/2019   EUR    75.41
Abengoa Finance SAU         6.00  3/31/2021   EUR    10.00
ArcelorMittal               7.75   3/1/2041   USD    77.13
Anglo American Capital PL   5.75 11/27/2018   AUD    82.00
Aegon NV                    0.86              EUR    49.07
Anglo American Capital PL   3.50  3/28/2022   EUR    68.17
Intelsat Luxembourg SA      7.75   6/1/2021   USD    36.69
RWE AG                      3.50  4/21/2075   EUR    69.54
Banca Popolare di Vicenza   9.50  9/29/2025   EUR    57.22
Vedanta Resources PLC       7.13  5/31/2023   USD    52.26
Genel Energy Finance PLC    7.50  5/14/2019   USD    55.67
Abengoa Finance SAU         7.00  4/15/2020   EUR    11.50
International Personal Fi   5.75   4/7/2021   EUR    81.75
Portugal Telecom Internat   5.00  11/4/2019   EUR    59.53
Banque Federative du Cred   1.00              EUR    45.07
Ovako AB                    6.50   6/1/2019   EUR    60.39
Vattenfall AB               3.00  3/19/2077   EUR    73.61
PagesJaunes Finance & Co    8.88   6/1/2018   EUR    50.02
Norske Skogindustrier ASA   7.00  6/26/2017   EUR    21.86
Petrobras Global Finance    5.63  5/20/2043   USD    58.50
EnQuest PLC                 7.00  4/15/2022   USD    22.50
QGOG Constellation SA       6.25  11/9/2019   USD    41.99
CHC Helicopter SA           9.25 10/15/2020   USD    44.00
Petrobras Global Finance    6.75  1/27/2041   USD    62.33
Veneto Banca SpA/Old        9.50  12/1/2025   EUR    56.38
Banca Monte dei Paschi di   2.49  5/15/2018   EUR    55.25
DNO ASA                     8.75  6/18/2020   USD    58.00
Anglo American Capital PL   4.88  5/14/2025   USD    69.75
Bluewater Holding BV       10.00 12/10/2019   USD    39.00
Algeco Scotsman Global Fi   8.50 10/15/2018   USD    73.75
Novo Banco SA               5.00  4/23/2019   EUR    69.50
Tullow Oil PLC              6.00  11/1/2020   USD    62.50
Nordea Bank AB              1.05              EUR    50.68
CGG SA                      6.50   6/1/2021   USD    34.00
Abengoa Greenfield SA       5.50  10/1/2019   EUR    11.01
AXA SA                      1.29              EUR    55.17
Paragon Offshore PLC        6.75  7/15/2022   USD    25.00
Waste Italia SpA           10.50 11/15/2019   EUR    25.00
Offshore Drilling Holding   8.38  9/20/2020   USD    59.50
Petrobras Global Finance    4.88  3/17/2020   USD    74.25
Petrobras Global Finance    4.25  10/2/2023   EUR    66.02
Credit Logement SA          1.02              EUR    68.97
Anglo American Capital PL   4.13  4/15/2021   USD    71.00
Petrobras Global Finance    3.75  1/14/2021   EUR    69.03
Banco Espirito Santo SA     4.75  1/15/2018   EUR    25.00
Petrobras Global Finance    4.75  1/14/2025   EUR    66.41
Petrobras Global Finance    5.88   3/7/2022   EUR    72.47
Petrobras Global Finance    6.88  1/20/2040   USD    63.20
ING Groep NV                1.27              EUR    53.77
Petrobras Global Finance    2.76  1/15/2019   USD    74.25
Petrobras Global Finance    7.25  3/17/2044   USD    64.75
AXA SA                      0.92              EUR    54.29
Stena AB                    7.00   2/1/2024   USD    72.50
UKRLANDFARMING PLC         10.88  3/26/2018   USD    30.50
Pacific Drilling SA         5.38   6/1/2020   USD    20.00
Anglo American Capital PL   4.13  9/27/2022   USD    68.00
Heta Asset Resolution AG    4.25 10/31/2016   EUR    68.00
CaixaBank SA                4.50 11/22/2016   EUR    51.25
Ensco PLC                   4.50  10/1/2024   USD    50.95
OAS Investments GmbH        8.25 10/19/2019   USD     2.05
Avanti Communications Gro  10.00  10/1/2019   USD    73.75
Metinvest BV               10.25  1/31/2016   USD    40.26
Far East Capital Ltd SA     8.00   5/2/2018   USD    56.38
Petrobras Global Finance    6.25 12/14/2026   GBP    62.11
Aegon NV                    2.07              USD    61.17
Brunswick Rail Finance Lt   6.50  11/1/2017   USD    44.81
Ensco PLC                   5.20  3/15/2025   USD    52.03
Ensco PLC                   5.75  10/1/2044   USD    50.75
Bank of New York Mellon L   4.11 12/30/2099   EUR    10.18
Algeco Scotsman Global Fi  10.75 10/15/2019   USD    22.44
EnQuest PLC                 5.50  2/15/2022   GBP    29.94
Obrascon Huarte Lain SA     5.50  3/15/2023   EUR    69.08
Anglo American Capital PL   3.63  5/14/2020   USD    69.00
Anglo American Capital PL   4.45  9/27/2020   USD    74.25
CIMPOR Financial Operatio   5.75  7/17/2024   USD    61.50
CGG SA                      6.88  1/15/2022   USD    37.00
Public Power Corp Finance   5.50   5/1/2019   EUR    70.64
BNP Paribas Fortis SA       1.87              EUR    67.73
Abengoa Finance SAU         8.88  11/1/2017   USD    15.00
Portugal Telecom Internat   4.50  6/16/2025   EUR    50.93
IMMOFINANZ AG               4.25   3/8/2018   EUR     4.28
Andrade Gutierrez Interna   4.00  4/30/2018   USD    62.25
Vneshprombank Ltd via VPB   9.00 11/14/2016   USD    13.00
Banca Monte dei Paschi di   0.89 11/30/2017   EUR    75.63
AXA SA                      1.05              EUR    60.00
Hema Bondco I BV            6.25  6/15/2019   EUR    66.99
Rallye SA                   1.00  10/2/2020   EUR    73.87
Credit Agricole SA          0.68              EUR    46.96
Norske Skogindustrier ASA  11.75  6/15/2016   EUR    70.41
Metinvest BV                8.75  2/14/2018   USD    41.00
Tullow Oil PLC              6.25  4/15/2022   USD    61.50
Ethias SA                   5.00  1/14/2026   EUR    73.06
FF Group Finance Luxembou   1.75   7/3/2019   EUR    64.64
Banca Popolare di Vicenza   3.02 12/20/2017   EUR    57.50
Banque Federative du Cred   0.83              EUR    45.75
ING Groep NV                0.87              EUR    51.35
Globe Luxembourg SCA        9.63   5/1/2018   USD    52.48
Intelsat Jackson Holdings   6.63 12/15/2022   USD    63.50
Neopost SA                  3.38              EUR    42.83
SOITEC                      6.75  9/18/2018   EUR     1.98
Indo Energy Finance II BV   6.38  1/24/2023   USD    37.51
BIBBY Offshore Services P   7.50  6/15/2021   GBP    65.00
First Bank of Nigeria Ltd   8.00  7/23/2021   USD    74.08
Intelsat Luxembourg SA      8.13   6/1/2023   USD    35.80
Yuksel Insaat AS            9.50 11/10/2015   USD    50.00
CNP Assurances              1.03              EUR    47.58
CGG SA                      1.75   1/1/2020   EUR     4.41
Aldesa Financial Services   7.25   4/1/2021   EUR    67.97
Air France-KLM              2.03  2/15/2023   EUR    11.26
Johnston Press Bond Plc     8.63   6/1/2019   GBP    69.15
AXA SA                      2.25              USD    71.84
Intelsat Luxembourg SA      6.75   6/1/2018   USD    65.50
Accudyne Industries Borro   7.75 12/15/2020   USD    68.25
Petrobras Global Finance    6.63  1/16/2034   GBP    59.93
Credit Mutuel Arkea SA      1.11              EUR    44.00
Ekosem-Agrar GmbH           8.50  12/7/2018   EUR    59.88
Sacyr SA                    4.00   5/8/2019   EUR    74.02
Heta Asset Resolution AG    2.75  5/31/2016   CHF    67.50
Anglo American Capital PL   4.88  5/14/2025   USD    68.50
Petroleum Geo-Services AS   7.38 12/15/2018   USD    69.50
Paragon Offshore PLC        7.25  8/15/2024   USD    27.00
Phones4u Finance PLC        9.50   4/1/2018   GBP    39.25
Banco Espirito Santo SA     6.88  7/15/2016   EUR    26.25
Prosafe SE                  4.18   9/9/2019   NOK    58.59
Anglo American Capital PL   3.63  5/14/2020   USD    73.94
Norske Skog AS             11.75 12/15/2019   EUR    60.34
Etablissements Maurel et    1.63   7/1/2019   EUR     9.63
Abengoa SA                  6.25  1/17/2019   EUR     7.25
Santander International P   2.00              USD    39.50
HSH Nordbank AG/Luxembour   2.31              EUR    16.63
Rothschilds Continuation    1.00              EUR    45.45
Financiere Quick SAS        7.36 10/15/2019   EUR    73.27
Mriya Agro Holding PLC      9.45  4/19/2018   USD     8.25
CHC Helicopter SA           9.38   6/1/2021   USD     7.00
Anglo American Capital PL   4.13  4/15/2021   USD    71.00
Capital Raising GmbH        7.50              EUR    19.26
Privatbank CJSC Via UK SP  10.25  1/23/2018   USD    63.97
Ferrexpo Finance PLC       10.38   4/7/2019   USD    56.64
Petrobras Global Finance    5.38  10/1/2029   GBP    56.46
Caixa Terrassa Societat d   1.18              EUR    47.88
TiZir Ltd                   9.00  9/28/2017   USD    63.88
Immigon Portfolioabbau AG  10.00              EUR     3.06
HSH Nordbank AG             7.25              USD    21.98
BIM SAS                     2.50 11/13/2020   EUR    24.79
Assystem                    4.50              EUR    27.84
Ageasfinlux SA              1.18              EUR    57.64
Abengoa Finance SAU         7.75   2/1/2020   USD    14.25
Hybrid Raising GmbH         6.63              EUR    19.01
Danske Bank Oyj             1.15              EUR    51.67
Indo Energy Finance BV      7.00   5/7/2018   USD    59.67
Alcatel-Lucent SA           0.13  1/30/2020   EUR     3.95
Alcatel-Lucent SA           4.25   7/1/2018   EUR     3.78
Takko Luxembourg 2 SCA      9.88  4/15/2019   EUR    50.00
Afren PLC                  11.50   2/1/2016   USD     0.35
SGL Carbon SE               3.50  9/30/2020   EUR    72.49
Anglo American Capital PL   4.45  9/27/2020   USD    74.50
BNP Paribas SA              2.13              EUR    60.00
Petrobras Global Finance    3.41  3/17/2020   USD    68.00
DTEK Finance PLC            7.88   4/4/2018   USD    40.75
Constellium NV              5.75  5/15/2024   USD    75.02
Algeco Scotsman Global Fi   9.00 10/15/2018   EUR    72.58
HSBC Bank PLC               0.81              USD    53.17
Matalan Finance PLC         8.88   6/1/2020   GBP    70.55
Helios Towers Finance Net   8.38  7/15/2019   USD    72.50
Praktiker AG                5.88  2/10/2016   EUR     0.07
First Ukrainian Internati  11.00 12/31/2018   USD    73.29
Barclays Bank PLC           0.26 12/28/2040   EUR    54.32
Cofinoga Funding Two LP     2.27              EUR    67.33
Econocom Group SA/NV        1.50  1/15/2019   EUR    11.34
Singulus Technologies AG    7.75  3/23/2017   EUR    22.50
Beate Uhse AG               7.75   7/9/2019   EUR    20.63
Iona Energy Co UK PLC      12.50  9/27/2018   USD     3.38
OGX Austria GmbH            8.50   6/1/2018   USD     0.00
Prosafe SE                  4.92  1/17/2020   NOK    58.59
Neue ZWL Zahnradwerk Leip   7.50  2/17/2021   EUR    79.63
Transcapitalbank JSC Via   10.00  9/18/2020   USD    60.00
Aegon NV                    4.26              NLG    69.93
Far East Capital Ltd SA     8.75   5/2/2020   USD    56.75
Afren PLC                   6.63  12/9/2020   USD     1.50
HSBC Bank PLC               1.13              USD    53.52
Rothschilds Continuation    0.81              USD    46.48
Virgolino de Oliveira Fin  10.50  1/28/2018   USD     3.25
Fred Olsen Energy ASA       4.16  2/28/2019   NOK    39.25
Ekosem-Agrar GmbH           8.75  3/23/2017   EUR    60.50
BPCE SA                     2.54              USD    78.25
Asya Sukuk Co Ltd           7.50  3/28/2023   USD    72.25
Santander Finance Preferr   1.05              EUR    53.83
Hema Bondco II BV           8.50 12/15/2019   EUR    38.63
KCA Deutag UK Finance PLC   7.25  5/15/2021   USD    46.00
EnQuest PLC                 7.00  4/15/2022   USD    22.50
Anglo American Capital PL   4.13  9/27/2022   USD    70.00
Norske Skog Holding AS      8.00  2/24/2021   EUR    26.17
DTEK Finance PLC           10.38  3/28/2018   USD    39.00
Tesco PLC                   4.88  3/24/2042   GBP    71.94
NTRP Via Interpipe Ltd     10.25   8/2/2017   USD    30.38
Air Berlin Finance BV       6.00   3/6/2019   EUR    68.82
Tullow Oil PLC              6.00  11/1/2020   USD    62.50
HSBC Bank PLC               0.98              USD    53.17
Novo Banco SA               3.00  6/21/2022   USD    62.00
BPCE SA                     0.91              EUR    58.63
Hema Bondco I BV            5.25  6/15/2019   EUR    64.50
Petrol AD                   8.38  1/26/2017   EUR    20.00
Abengoa Finance SAU         8.88  11/1/2017   USD    14.88
Banca Carige SpA            8.34              EUR    66.88
IGas Energy PLC            10.00  3/22/2018   USD    66.71
Tesco PLC                   5.20   3/5/2057   GBP    74.11
Barclays Bank PLC           1.56              GBP    66.00
Pohjola Bank Oyj            0.64              EUR    49.92
Novo Banco SA               5.00  5/14/2019   EUR    69.82
Stena AB                    7.00   2/1/2024   USD    71.88
Banca Monte dei Paschi di   0.86  1/15/2018   EUR    73.81
Meyer Burger Technology A   4.00  9/24/2020   CHF    71.35
ATF Capital BV             10.00              USD    60.13
Abengoa Greenfield SA       6.50  10/1/2019   USD     7.88
WPE International Coopera  10.38  9/30/2020   USD    10.50
Aegon NV                    5.19              NLG    61.70
Aegon NV                    1.51              NLG    51.01
Abengoa Finance SAU         7.75   2/1/2020   USD    14.25
Finance and Credit Bank J   9.25  1/25/2019   USD     5.63
Jyske Bank A/S              1.13              EUR    49.50
Gol LuxCo SA                8.88  1/24/2022   USD    30.75
Abengoa Greenfield SA       6.50  10/1/2019   USD     7.91
Tullow Oil PLC              6.25  4/15/2022   USD    61.75
Barclays Bank PLC           1.13              USD    56.33
Codere Finance Luxembourg   8.25  6/15/2015   EUR    70.75
Banco Espanol de Credito    0.99              EUR    54.50
Pierre & Vacances SA        3.50  10/1/2019   EUR    36.56
Novo Banco SA               3.50   1/2/2043   EUR    54.88
Espirito Santo Financial    6.88 10/21/2019   EUR     0.06
Tonon Luxembourg SA        10.50  5/14/2024   USD    43.69
Privatbank CJSC Via UK SP  11.00   2/9/2021   USD    58.98
Alno AG                     8.50  5/14/2018   EUR    63.00
Koninklijke Luchtvaart Ma   0.75              CHF    36.50
Vedanta Resources PLC       6.00  1/31/2019   USD    58.63
Gebr Sanders GmbH & Co KG   8.75 10/22/2018   EUR    70.38
Jyske Bank A/S              1.16              EUR    49.75
BNP Paribas SA              0.61              USD    56.10
Nexans SA                   2.50   1/1/2019   EUR    74.63
Prosafe SE                  4.13 10/22/2018   NOK    67.66
Banca Carige SpA            1.87 12/29/2018   EUR    54.00
Eroski S Coop               3.02              EUR    46.63
Caisse Federale du Credit   1.10              EUR    48.73
CGG SA                      1.25   1/1/2019   EUR    22.46
Metinvest BV               10.50 11/28/2017   USD    39.30
Rena GmbH                   8.25  7/11/2018   EUR     8.63
CEVA Group PLC              9.00   9/1/2021   USD    72.50
Banca Popolare di Vicenza   4.60 12/15/2017   EUR    72.02
Farstad Shipping ASA        5.30  2/15/2017   NOK    49.38
Sidetur Finance BV         10.00  4/20/2016   USD     6.00
Tonon Luxembourg SA         7.25  1/24/2020   USD     9.50
OSX 3 Leasing BV           13.00  3/20/2015   USD    25.00
Abengoa SA                  4.50   2/3/2017   EUR     8.63
Banca Popolare di Vicenza   8.50 12/28/2018   EUR    76.20
European Directories Bond   7.00  12/9/2018   EUR    70.49
Noreco Norway AS            6.50   3/6/2018   NOK    73.00
Afren PLC                  10.25   4/8/2019   USD     0.53
Privatbank CJSC Via UK SP  10.88  2/28/2018   USD    64.95
Lambay Capital Securities   6.25              GBP     1.75
Banco Bilbao Vizcaya Arge   1.19              EUR    70.87
Union Fenosa Preferentes    1.52              EUR    63.38
Havila Shipping ASA         9.66  8/30/2016   NOK    34.13
Lloyds Bank PLC             1.06              USD    53.79
Cirio Holding Luxembourg    6.25  2/16/2004   EUR     0.81
Vedanta Resources PLC       8.25   6/7/2021   USD    51.63
OGX Austria GmbH            8.38   4/1/2022   USD     0.00
Banco Espirito Santo SA     2.52              EUR     1.18
Nexity SA                   0.63   1/1/2020   EUR    50.70
Talvivaara Mining Co PLC    4.00 12/16/2015   EUR     1.29
Vedanta Resources PLC       7.13  5/31/2023   USD    52.63
Deutsche Bank AG            6.00  3/11/2016   EUR    71.73
Bank Nadra via NDR Financ   8.25  7/31/2018   USD     1.02
Ausy                        3.25   1/1/2021   EUR    53.00
Aralco Finance SA          10.13   5/7/2020   USD     2.50
Novo Banco SA               5.00  3/15/2022   EUR    67.85
Sydbank A/S                 1.05              EUR    52.20
Candyking Holding AB        5.00  1/29/2018   SEK    40.38
Songa Offshore              8.40  5/17/2018   NOK    58.99
German Pellets GmbH         8.00              EUR     2.00
Popular Capital SA          1.11              EUR    29.55
Etablissements Maurel et    2.75   7/1/2021   EUR     5.75
Banca delle Marche SpA      0.84   6/1/2017   EUR     1.14
Ukreximbank Via Biz Finan   7.87   2/9/2023   USD    70.09
Island Offshore Shipholdi   6.38   4/5/2016   NOK    58.10
Dexia Credit Local SA       1.54              EUR    14.00
NIBC Bank NV                2.13              USD    57.83
World Wide Supply AS        7.75  5/26/2017   USD    27.00
GNB - Cia de Seguros de V   2.07 12/19/2022   EUR    69.50
Takko Luxembourg 2 SCA      6.86  4/15/2019   EUR    45.83
ESFIL-Espirito Santo Fina   5.25  6/12/2015   EUR     1.64
Novo Banco SA               5.00  2/24/2022   EUR    67.00
DOF ASA                     5.88   2/7/2018   NOK    52.75
Phosphorus Holdco PLC      10.00   4/1/2019   GBP     1.53
Pacific Drilling SA         5.38   6/1/2020   USD    19.50
Atlantic Offshore AS        8.60  5/16/2018   NOK    33.94
E Forland AS                7.91   9/4/2018   NOK    60.38
Novo Banco SA               5.00  5/23/2019   EUR    69.21
CIMPOR Financial Operatio   5.75  7/17/2024   USD    61.50
Island Drilling Co ASA      9.50   4/3/2018   USD    15.25
Novo Banco SA               5.00   4/4/2019   EUR    69.94
Paragon Offshore PLC        7.25  8/15/2024   USD    26.00
Corporate Commercial Bank   8.25   8/8/2014   USD     1.05
Rena GmbH                   7.00 12/15/2015   EUR     8.63
Scandinavian Airlines Sys   0.63              CHF    27.38
Banco Espirito Santo SA     6.90  6/28/2024   EUR    25.50
Vedanta Resources PLC       9.50  7/18/2018   USD    59.05
NIBC Bank NV                0.67              EUR    45.00
Cooperatieve Rabobank UA    0.50 11/26/2021   ZAR    57.56
VistaJet Malta Finance PL   7.75   6/1/2020   USD    42.00
Mriya Agro Holding PLC     10.95  3/30/2016   USD     9.88
Eramet                      5.10  5/28/2026   EUR    54.50
Eniro AB                    6.00  4/14/2020   SEK    40.05
KCA Deutag UK Finance PLC   7.25  5/15/2021   USD    46.00
Lloyds Bank PLC             0.63              USD    52.17
Abengoa SA                  5.13   3/5/2017   USD    13.25
Standard Chartered PLC      0.81              GBP    52.83
Avanti Communications Gro  10.00  10/1/2019   USD    74.75
Kaupthing Bank ehf          9.00              USD     0.13
DOF ASA                     8.08  9/12/2019   NOK    50.47
BLT Finance BV              7.50  5/15/2014   USD     4.20
Oceanteam ASA              11.87 10/24/2017   USD    54.75
Societe Air France SA       2.75   4/1/2020   EUR    20.60
Barclays Bank PLC           0.75              USD    60.75
Oi Brasil Holdings Cooper   5.75  2/10/2022   USD    46.00
Ajecorp BV                  6.50  5/14/2022   USD    32.25
Virgolino de Oliveira Fin  11.75   2/9/2022   USD     2.78
Vseukrainsky Aktsinerny B  10.90  6/14/2019   USD     1.27
QGOG Constellation SA       6.25  11/9/2019   USD    37.05
Bank of Scotland PLC        0.94              USD    56.05
BNP Paribas SA              1.86  4/30/2033   USD    65.38
Heta Asset Resolution AG    5.92  2/22/2022   EUR    28.88
Deutsche Bank AG/London     4.32  6/30/2034   USD    74.10
Heta Asset Resolution AG    0.61  1/24/2017   EUR    25.38
Sympatex Holding GmbH       8.00  12/3/2018   EUR    41.38
International Bank of Aze   8.25  10/9/2024   USD    73.00
National Westminster Bank   1.13              USD    61.00
Farstad Shipping ASA        4.56  5/29/2018   NOK    44.13
Viking Supply Ships AS      9.42  3/21/2017   NOK    35.00
SNS Bank NV                11.25              EUR     0.63
GNB - Cia de Seguros de V   3.37              EUR    60.00
Nordea Bank Norge ASA       0.81              USD    58.90
Rallye SA                   3.40  1/31/2022   EUR    68.00
DOF ASA                     8.38   2/7/2017   NOK    70.88
MS Deutschland Beteiligun   6.88 12/18/2017   EUR     7.67
Codere Finance Luxembourg   9.25  2/15/2019   USD    58.50
Eurobank Ergasias SA        1.49   6/8/2017   EUR    69.17
Novo Banco SA               5.00  5/21/2019   EUR    69.50
SNS Bank NV                 6.25 10/26/2020   EUR     3.38
Touax SA                    6.00  7/10/2020   EUR    16.70
Novo Banco SA               3.50  2/19/2043   EUR    54.75
friedola Gebr Holzapfel G   7.25  4/11/2017   EUR     3.46
Ferrexpo Finance PLC       10.38   4/7/2019   USD    53.27
Dannemora Mineral AB       11.75  3/22/2016   USD     0.13
Mobylife Holding A/S        7.25  5/23/2018   SEK    71.38
Laurel GmbH                 7.13 11/16/2017   EUR    25.38
Paragon Offshore PLC        6.75  7/15/2022   USD    23.75
Songa Offshore              7.50 12/11/2018   NOK    55.34
Novo Banco SA               3.50  1/23/2043   EUR    54.88
Deutsche Bank AG            1.78  6/28/2033   USD    63.85
BOA Offshore AS             7.81 12/18/2018   NOK    29.50
More & More AG              8.13  6/11/2018   EUR    39.00
Region of Piemont Italy     0.12 11/27/2036   EUR    61.05
RENE LEZARD Mode GmbH       7.25 11/25/2017   EUR    22.90
Landesbank Hessen-Thuerin   0.34   5/3/2041   EUR    63.78
Elli Investments Ltd       12.25  6/15/2020   GBP    35.00
Golfino AG                  7.25   4/4/2017   EUR    75.25
Lloyds Bank PLC             0.63              USD    56.05
Solstad Offshore ASA        4.73  6/24/2019   NOK    63.00
IT Holding Finance SA       9.88 11/15/2012   EUR     0.28
Nuova Banca delle Marche    1.02  6/15/2016   EUR     0.88
Espirito Santo Financial    3.13  12/2/2018   EUR     0.42
International Industrial    9.00   7/6/2011   EUR     0.50
Waste Italia SpA           10.50 11/15/2019   EUR    25.00
DNB Bank ASA                0.69              USD    56.96
Afren PLC                  11.50   2/1/2016   USD     0.83
Assystem                    4.00   1/1/2017   EUR    23.17
Offshore Drilling Holding   8.38  9/20/2020   USD    62.50
Barclays Bank PLC           0.88              USD    54.94
Metinvest BV               10.50 11/28/2017   USD    44.50
Lehman Brothers UK Capita   5.13              EUR     0.00
Royal Bank of Scotland Gr   1.13              USD    59.30
Portugal Telecom Internat   5.24  11/6/2017   EUR    65.13
Pescanova SA                5.13  4/20/2017   EUR     3.56
LBI HF                      6.25              EUR     0.00
CSN Resources SA            6.50  7/21/2020   USD    49.27
SiC Processing GmbH         7.13   3/1/2016   EUR     1.49
KA Finanz AG                5.43  2/13/2024   EUR    63.75
Lehman Brothers Treasury    6.00  11/2/2035   EUR    16.25
Volstad Shipping AS         7.16  5/30/2018   NOK    22.13
Hellas Telecommunications   8.50 10/15/2013   EUR     0.01
DNB Bank ASA                0.71              USD    57.20
Cirio Finanziaria SpA       8.00 12/21/2005   EUR     1.52
Tonon Luxembourg SA        10.50  5/14/2024   USD    43.69
TGC-2 OJSC                 12.00 10/10/2018   RUB    46.00
EDOB Abwicklungs AG         7.50   4/1/2012   EUR     0.50
Hellenic Republic Governm   5.20  7/17/2034   EUR    69.25
Kaupthing Bank ehf          5.75  10/4/2011   USD    17.63
IKB Deutsche Industrieban   5.63  3/31/2017   EUR    22.13
OGX Austria GmbH            8.50   6/1/2018   USD     0.05
eno energy GmbH             7.38  6/30/2016   EUR    73.50
International Industrial   11.00  2/19/2013   USD     0.27
Indo Energy Finance BV      7.00   5/7/2018   USD    48.00
Societe Generale SA         1.03              EUR    54.05
Breeze Finance SA           6.71  4/19/2027   EUR    39.00
Abanka Vipa DD Via Afinan   1.74              EUR     0.32
EFG International AG        1.20              EUR    62.73
Global PVQ SE               6.75 10/21/2015   EUR     1.03
BDT Media Automation GmbH   8.13  10/9/2017   EUR    60.00
Alpine Holding GmbH         6.00  5/22/2017   EUR     0.00
Deutsche Bank AG/London     2.00  3/15/2033   USD    64.25
Dexia SA                    4.89              EUR     8.88
Standard Chartered PLC      1.02              USD    52.92
Windreich GmbH              6.50  7/15/2016   EUR    10.88
Nationwide Building Socie   1.09              GBP    70.00
DNB Bank ASA                0.69              USD    57.02
UniCredit Bank Austria AG   0.33  8/20/2033   EUR    62.50
Societe Alsacienne et Lor   1.63   1/1/2022   EUR    59.17
Afren PLC                   6.63  12/9/2020   USD     0.54
NNK-Aktiv AO                8.85   6/4/2021   RUB    66.00
National Westminster Bank   0.69              USD    56.23
Sazka AS                    9.00  7/12/2021   EUR     0.00
CRC Breeze Finance SA       6.11   5/8/2016   EUR    50.13
Phones4u Finance PLC        9.50   4/1/2018   GBP    39.25
Grupo Isolux Corsan Finan   6.63  4/15/2021   EUR    23.31
Golden Gate AG              6.50 10/11/2014   EUR    44.50
Pescanova SA                8.75  2/17/2019   EUR     3.83
Spirit Issuer PLC           1.14 12/28/2028   GBP    72.67
Espirito Santo Financial    5.13  5/30/2016   EUR     1.00
Dexia Kommunalbank Deutsc   5.63 12/31/2017   EUR    13.13
Immigon Portfolioabbau AG   7.00  7/24/2022   EUR    63.69
Region of Abruzzo Italy     0.38  11/7/2036   EUR    63.37
Karlie Group GmbH           6.75  6/25/2018   EUR    15.10
Algeco Scotsman Global Fi   8.50 10/15/2018   USD    72.75
Globe Luxembourg SCA        9.63   5/1/2018   USD    53.75
Deutsche Bank AG/London     4.23  8/28/2034   USD    67.67
Frey                        6.00 11/15/2022   EUR    22.50
Lloyds Bank PLC             2.00  1/31/2033   USD    67.13
Olympic Ship AS             7.22  9/21/2017   NOK    44.75
Novo Banco SA               3.50  3/18/2043   EUR    54.96
Danske Bank Oyj             1.47              EUR    60.63
Standard Chartered PLC      0.94              USD    53.25
Eramet                      5.29  4/22/2026   EUR    58.25
Cirio Del Monte NV          7.75  3/14/2005   EUR     2.02
Alpha Bank AE               1.54   2/1/2017   EUR    69.63
Societe Generale SA         0.44              USD    57.32
Travel24.com AG             7.50  9/17/2017   EUR    21.15
First Bank of Nigeria Ltd   8.00  7/23/2021   USD    73.61
Commerzbank Holdings UK L   1.06              USD    62.00
Avanti Communications Gro  10.00  10/1/2019   USD    73.88
JZ Capital Partners Ltd     6.00  7/30/2021   GBP    10.70
Brunswick Rail Finance Lt   6.50  11/1/2017   USD    39.00
Rem Offshore ASA            6.48  9/25/2019   NOK    34.38
CMA CGM SA                  7.75  1/15/2021   EUR    75.63
IGas Energy PLC            10.00 12/11/2018   USD    51.13
Metinvest BV               10.25  1/31/2016   USD    41.13
Norske Skog AS             11.75 12/15/2019   EUR    60.25
Kaupthing Bank ehf          7.63  2/28/2015   USD    17.63
Sairgroup Finance BV        4.38   6/8/2006   EUR    18.00
Virgolino de Oliveira Fin  10.88  1/13/2020   USD    19.38
Heta Asset Resolution AG    4.35  11/3/2016   EUR    25.13
Heta Asset Resolution AG    1.91  9/29/2016   JPY    68.50
Banco Espirito Santo SA     2.66              EUR    11.13
Belfius Bank SA/NV          1.86              FRF    69.75
National Westminster Bank   0.81              USD    60.75
Algeco Scotsman Global Fi  10.75 10/15/2019   USD    22.50
Abengoa Finance SAU         6.00  3/31/2021   EUR    11.63
Barclays Bank PLC           1.78  5/31/2033   USD    70.95
Credit Suisse AG/Guernsey   0.88              USD    56.92
Dexia Kommunalbank Deutsc   4.88 12/31/2016   EUR    24.13
Electromagnetic Geoservic   7.23  6/27/2019   NOK    58.01
Abengoa SA                  5.13   3/5/2017   USD    13.25
Virgolino de Oliveira Fin  10.50  1/28/2018   USD     3.25
PA Resources AB             3.00 12/27/2017   NOK     0.20
Banco Espirito Santo SA     0.04              EUR    13.71
Hellenic Republic Governm   2.09  7/25/2057   EUR    30.50
Societe Generale SA         7.72              EUR    66.88
Metinvest BV                8.75  2/14/2018   USD    42.50
Havyard Group ASA           6.58  6/13/2017   NOK    72.00
Freshwater Finance PLC      6.06 10/17/2036   GBP    58.38
IKB Deutsche Industrieban   4.70  3/31/2017   EUR    23.32
CEVA Group PLC             12.75  3/31/2020   USD    71.13
Barclays Bank PLC           2.77  3/28/2033   USD    71.63
PA Resources AB            13.50   3/3/2016   SEK     0.25
Lehman Brothers Treasury    7.25  10/5/2035   EUR    14.13
Espirito Santo Financial    9.75 12/19/2025   EUR     1.05
Abengoa SA                  6.25  1/17/2019   EUR    10.50
Finmek International SA     7.00  12/3/2004   EUR     0.13
Rosbank PJSC               11.60  10/7/2024   RUB   100.40
Kaupthing Bank ehf          5.75  10/4/2011   USD    17.63
Banco Pinto & Sotto Mayor   0.85              EUR    10.50
Norske Skogindustrier ASA   7.13 10/15/2033   USD    31.13
Standard Chartered PLC      0.94              USD    52.31
Credit Suisse AG/London     7.00  3/11/2016   EUR    72.68
Petromena ASA               9.75  5/24/2016   NOK     0.54
IM Skaugen SE               9.45  6/30/2016   NOK    54.38
Societe Generale SA        13.44   2/9/2017   USD    68.23
Banca Monte dei Paschi di   4.64  3/14/2024   EUR    68.50
Mox Telecom AG              7.25  11/2/2017   EUR     3.09
Lehman Brothers Treasury    6.00  2/15/2035   EUR    14.13
Afren PLC                  10.25   4/8/2019   USD     0.53
Immigon Portfolioabbau AG   5.27   2/8/2027   EUR    62.75
Cyprus Popular Bank PCL     1.65  5/26/2016   EUR     0.70
Portigon AG                 7.46 12/31/2019   EUR     9.95
Talvivaara Mining Co PLC    9.75   4/4/2017   EUR     0.09
KPNQwest NV                 8.88   2/1/2008   EUR     0.53
Tonon Luxembourg SA         7.25  1/24/2020   USD     9.50
Minicentrales Dos SA        4.81 11/29/2034   EUR    62.63
Andrade Gutierrez Interna   4.00  4/30/2018   USD    62.00
Heta Asset Resolution AG    0.33 12/18/2030   EUR    30.63
Norske Skog Holding AS      8.00  2/24/2023   USD    25.17
Indo Energy Finance II BV   6.38  1/24/2023   USD    34.41
Banca Popolare di Vicenza   5.00   6/4/2024   EUR    47.80
Codere Finance Luxembourg   9.25  2/15/2019   USD    69.13
CBo Territoria              6.00   1/1/2020   EUR     3.84
Far East Capital Ltd SA     8.00   5/2/2018   USD    55.98
SAG Solarstrom AG           6.25 12/14/2015   EUR    45.00
Cirio Finance Luxembourg    7.50  11/3/2002   EUR     9.00
Kaupthing Bank ehf          7.13  5/19/2016   USD     0.00
Credit Lyonnais SA          1.81              EUR    58.00
Getin Noble Bank SA/old     4.80  3/12/2021   PLN    70.00
UBS AG                      6.10  7/29/2016   GBP    61.44
Alpine Holding GmbH         5.25  6/10/2016   EUR     0.00
Alpine Holding GmbH         5.25   7/1/2015   EUR     0.00
SeaBird Exploration Finan   6.00   3/3/2018   USD    19.88
Depfa Funding III LP        1.35              EUR
Novo Banco SA               3.00 12/16/2021   EUR    57.25
OGX Austria GmbH            8.38   4/1/2022   USD     0.34
UniCredit Bank Austria AG   0.37 12/31/2031   EUR    64.75
Algeco Scotsman Global Fi   9.00 10/15/2018   EUR    72.75
getgoods.de AG              7.75  10/2/2017   EUR     0.23
Governo Portugues Consoli   3.00              EUR    74.00
Societe Generale SA         2.21  2/28/2033   USD    75.00
CGG SA                      6.88  1/15/2022   USD    32.63
Norske Skogindustrier ASA  11.75  6/15/2016   EUR    70.63
Oceanic Champion AS         8.00  2/20/2020   USD    73.29
Abengoa Finance SAU         8.88   2/5/2018   EUR    11.88
Olympic Ship AS             6.06  6/18/2019   NOK    37.75
Lehman Brothers UK Capita   5.75              EUR     0.01
UniCredit Bank Austria AG   0.33 10/31/2031   EUR    63.50
Minicentrales Dos SA        6.45  4/14/2028   EUR    62.63
Hema Bondco I BV            6.25  6/15/2019   EUR    66.92
BIBBY Offshore Services P   7.50  6/15/2021   GBP    65.00
Ideal Standard Internatio  11.75   5/1/2018   EUR    13.75
Santander Finance Capital   2.00              EUR    31.38
Norske Skog Holding AS      8.00  2/24/2021   EUR    26.00
KPNQwest NV                10.00  3/15/2012   EUR     0.53
Heta Asset Resolution AG    0.18  9/11/2017   EUR    27.00
Teksid Aluminum Luxembour  11.38  7/15/2011   EUR     0.05
Strenesse AG                9.00  3/15/2017   EUR    41.00
Mifa Mitteldeutsche Fahrr   7.50  8/12/2018   EUR     3.11
Standard Chartered PLC      1.09              USD    53.25
IM Skaugen SE              10.12  4/11/2017   NOK    34.63
Pescanova SA                6.75   3/5/2015   EUR     2.38
Nuova Banca Popolare dell   1.87  9/28/2017   EUR     0.30
Lloyds Bank PLC             2.06  2/22/2033   USD    66.25
Deutsche Bank AG/London     0.50  10/5/2021   IDR    54.12
Northland Resources AB      4.00 10/15/2020   USD     0.38
Marine Subsea AS            9.00 12/16/2019   USD     0.50
CGG SA                      5.88  5/15/2020   EUR    38.00
Accudyne Industries Borro   7.75 12/15/2020   USD    68.38
AgroGeneration              8.00   4/1/2019   EUR    70.03
Equity Release Funding No   2.69  4/26/2038   GBP
Santander Finance Capital   2.00              EUR    29.63
HSBC France SA              1.03              EUR    50.00
Solarworld AG               6.13  1/21/2017   EUR    42.63
Del Monte Finance Luxembo   6.63  5/24/2006   EUR     8.88
Global PVQ Netherlands B.   1.38  4/30/2012   EUR    28.50
Ekotechnika AG              9.75  5/10/2018   EUR     9.50
Royal Bank of Scotland PL   3.40 12/13/2028   USD    75.50
Governo Portugues Consoli   2.75              EUR    61.00
Plaza Centers NV            6.90 12/31/2019   ILS    67.04
Lehman Brothers Treasury    8.25  3/16/2035   EUR    14.13
CHC Helicopter SA           9.25 10/15/2020   USD    40.63
PagesJaunes Finance & Co    8.88   6/1/2018   EUR    50.00
Mriya Agro Holding PLC      9.45  4/19/2018   USD     9.38
Eidesvik Offshore ASA       5.56  5/22/2018   NOK    73.13
Solon SE                    1.38  12/6/2012   EUR     0.33
Svensk Exportkredit AB      0.50  2/22/2022   ZAR    55.81
PNE Wind AG                 3.75 10/10/2019   EUR     2.80
KPNQwest NV                 7.13   6/1/2009   EUR     0.53
Immigon Portfolioabbau AG   1.42  7/29/2018   EUR    25.00
Bulgaria Steel Finance BV  12.00   5/4/2013   EUR     0.59
Heta Asset Resolution AG    4.25  5/31/2016   EUR    67.75
Vneshprombank Ltd          14.00  6/22/2018   RUB     1.07
Espirito Santo Financial    5.05 11/15/2025   EUR     1.09
Gunther Zamek Produktions   7.75  5/15/2017   EUR     1.41
Lehman Brothers Treasury    2.88  3/14/2013   CHF    16.25
UniCredit Bank AO           8.10 11/20/2018   RUB    59.01
OAS Investments GmbH        8.25 10/19/2019   USD     5.03
UniCredit Bank Austria AG   0.35 12/27/2031   EUR    63.75
Depfa Funding IV LP         5.03              EUR    56.88
Nuova Banca Popolare dell   1.21  7/14/2016   EUR     0.91
Solarworld AG               6.38  7/13/2016   EUR    42.63
Kaupthing Bank ehf          7.50   2/1/2045   USD     0.00
Rem Offshore ASA            6.83  3/14/2018   NOK    37.63
Immigon Portfolioabbau AG   6.00  3/30/2017   EUR    59.00
Orient Express Bank PJSC   13.60   8/9/2018   RUB    39.00
Immigon Portfolioabbau AG   3.55  4/12/2022   EUR    74.70
NNK-Aktiv AO                8.85   6/1/2021   RUB    77.08
Ferrexpo Finance PLC       10.38   4/7/2019   USD    55.75
IVG Immobilien AG           5.63              EUR     0.00
Oi Brasil Holdings Cooper   5.63  6/22/2021   EUR    50.51
Abengoa Finance SAU         7.00  4/15/2020   EUR    12.00
CEVA Group PLC             12.75  3/31/2020   USD    90.00
Northland Resources AB     15.00  7/15/2019   USD     1.00
LBI HF                      6.10  8/25/2011   USD    12.45
Getin Noble Bank SA/old     4.77  7/10/2020   PLN    76.00
BLT Finance BV             12.00  2/10/2015   USD    10.50
LBI HF                      7.43              USD     0.00
Aldesa Financial Services   7.25   4/1/2021   EUR    68.38
Aralco Finance SA          10.13   5/7/2020   USD     1.00
Barclays Bank PLC           2.62  4/19/2033   USD    70.75
Abengoa Greenfield SA       5.50  10/1/2019   EUR    10.75
UKRLANDFARMING PLC         10.88  3/26/2018   USD    31.25
Bank Nederlandse Gemeente   0.50   8/9/2022   MXN    70.48
Heta Asset Resolution AG    7.50  5/27/2024   ATS    31.71
Lehman Brothers Treasury    5.00  9/22/2014   EUR    14.13
Mechel                      8.40  5/27/2021   RUB    62.33
Lehman Brothers Treasury    7.00  5/17/2035   EUR    14.13
Lehman Brothers Treasury    4.00  2/16/2017   EUR    16.25
WGF Westfaelische Grundbe   6.35  12/1/2016   EUR     3.60
Codere Finance Luxembourg   8.25  6/15/2015   EUR    70.00
Stroika Finance Ltd Via E   7.70  6/25/2019   RUB    12.00
Banco Pastor SA             2.28              EUR    25.50
Hypo Tirol Bank AG          0.30  7/23/2026   EUR    67.00
Lloyds Bank PLC             3.68  7/29/2033   USD    75.00
APP International Finance  11.75  10/1/2005   USD     3.60
Lehman Brothers Treasury    5.00  2/16/2015   EUR    14.13
Depfa Funding II LP         6.50              EUR    56.88
KA Finanz AG                4.90  6/23/2031   EUR    60.88
Artea                       6.00   8/4/2019   EUR    14.01
Heta Asset Resolution AG    5.27   4/7/2028   EUR    25.75
Region of Puglia Italy      0.30   2/6/2023   EUR    74.66
Northland Resources AB      4.00 10/15/2020   NOK     0.07
Windreich GmbH              6.50   3/1/2015   EUR    10.88
WindMW GmbH                 3.59  6/30/2027   EUR    71.30
Geotech Seismic Services   10.50 10/17/2018   RUB    66.54
Credit Suisse AG/London     7.25 11/10/2016   CHF    72.60
Heta Asset Resolution AG    0.45 11/29/2032   EUR    30.00
Financiere Quick SAS        7.36 10/15/2019   EUR    74.25
Ovako AB                    6.50   6/1/2019   EUR    60.25
wige MEDIA AG               6.00  3/17/2019   EUR     1.88
Sparebanken Sor             2.75  8/25/2025   NOK    75.72
Hellenic Bank PCL          11.00              EUR    46.13
Kommunekredit               0.50 10/22/2019   BRL    62.55
Transaero Airlines         16.00 10/25/2018   RUB     0.72
La Veggia Finance SPA       7.13 11/14/2004   EUR     0.00
DZ Bank AG Deutsche Zentr   3.05  9/25/2023   EUR    66.84
BANIF - Banco Internacion   4.50  1/30/2025   EUR    66.13
LBI HF                      3.00  12/7/2010   CHF     8.50
Barclays Bank PLC           2.75  3/21/2033   USD    73.75
Region of Molise Italy      0.36 12/15/2033   EUR    65.84
Far East Capital Ltd SA     8.75   5/2/2020   USD    55.91
HSBC Bank PLC               0.50  7/30/2027   NZD    61.09
Mechel                     15.00  2/25/2020   RUB    72.50
Bank Nederlandse Gemeente   0.50  8/15/2022   ZAR    55.06
Virgolino de Oliveira Fin  11.75   2/9/2022   USD     2.54
Heta Asset Resolution AG    0.08   4/9/2043   EUR    60.00
Virgolino de Oliveira Fin  10.88  1/13/2020   USD    18.25
Mercantile Investment Tru   4.25              GBP    70.00
Raiffeisenlandesbank Nied   5.00   7/1/2026   EUR    66.38
Hema Bondco II BV           8.50 12/15/2019   EUR    39.25
Solen AG                    7.50   4/8/2016   EUR     1.61
Accentro Real Estate AG     6.25  3/27/2019   EUR     3.45
Deutsche Bank AG            3.20  3/22/2016   EUR    51.20
Credit Europe Bank Ltd     14.50   6/5/2018   RUB    60.01
Alpha Bank AE               1.54   3/8/2017   EUR    70.63
CEVA Group PLC              9.00   9/1/2021   USD    70.25
Kaupthing Bank ehf          6.13  10/4/2016   USD    17.63
Mechel                      8.40   6/1/2021   RUB    62.01
Lehman Brothers Treasury    5.10   5/8/2017   HKD    14.13
Norske Skogindustrier ASA   7.13 10/15/2033   USD    31.13
Province of Milan Italy     0.21 12/22/2033   EUR    67.98
Astana Finance BV           7.88   6/8/2010   EUR    16.00
Ferrexpo Finance PLC       10.38   4/7/2019   USD    52.93
International Hotel Inves   5.75  5/13/2025   EUR    74.63
Societe Generale SA         1.60   1/9/2020   GBP     1.03
Montepio Holding SGPS SA    5.00              EUR    50.00
Vnesheconombank             2.00  6/18/2021   RUB    60.71
UBS AG                      7.85  12/1/2016   EUR    68.40
Agroton Public Ltd          6.00  7/14/2019   USD    10.00
Getin Noble Bank SA/old     4.81   4/7/2021   PLN    72.00
Notenstein Finance Guerns   1.00  9/17/2019   CHF    59.72
Nordea Bank Finland Abp     4.35  4/20/2020   SEK    59.60
LBI HF                      2.25  2/14/2011   CHF     8.50
LBI HF                      4.65              EUR     0.00
Royal Bank of Scotland PL   3.79 12/30/2030   USD    73.50
Raiffeisenlandesbank Nied   4.40  4/17/2024   EUR    72.00
Comune di Verona            0.09  12/1/2026   EUR    67.26
ADLER Real Estate AG        6.00  6/30/2017   EUR    11.25
Lehman Brothers Treasury    7.00   6/6/2017   EUR     3.09
Veneto Banca SpA/Old       10.00 10/22/2022   EUR    37.38
OGK-2 PAO                  11.50 11/24/2020   RUB   100.00
Kaupthing Bank ehf          6.13  10/4/2016   USD    17.63
Barclays Bank PLC           6.75  6/23/2017   USD    71.68
Zurcher Kantonalbank Fina   1.01 12/16/2016   CHF    74.77
Region of Abruzzo Italy     0.22  11/7/2031   EUR    69.26
Royal Bank of Scotland Gr   1.55  1/12/2046   EUR    53.25
SAir Group                  6.25  4/12/2005   CHF    11.13
Banco Espirito Santo SA    10.00  12/6/2021   EUR     1.01
Santander Finance Capital   2.00              USD    32.75
DTEK Finance PLC            7.88   4/4/2018   USD    38.50
A-TEC Industries AG         2.75  5/10/2014   EUR     2.00
Baltijskij Bereg ZAO        8.25 12/22/2017   RUB    26.07
WPE International Coopera  10.38  9/30/2020   USD    10.25
Banco Comercial Portugues   5.00              EUR    61.00
A-TEC Industries AG         8.75 10/27/2014   EUR     2.00
Heta Asset Resolution AG    4.88  9/18/2017   EUR    27.63
Cooperatieve Rabobank UA    0.50 10/29/2027   MXN    48.11
SAir Group                  0.13   7/7/2005   CHF    11.13
Plaza Centers NV            6.00   7/1/2020   ILS    70.04
Mechel                     15.00  2/25/2020   RUB    72.29
CHC Helicopter SA           9.25 10/15/2020   USD    40.63
Eksportfinans ASA           0.50   5/9/2030   CAD    22.50
Global PVQ Netherlands B.   5.75  5/26/2014   EUR    28.00
Kaupthing Bank ehf          5.25  7/18/2017   BGN    17.63
SNS Bank NV                 2.61              EUR     0.40
Lehman Brothers Treasury    7.06 12/29/2008   EUR     3.09
Immigon Portfolioabbau AG   0.41  3/14/2020   EUR    70.41
Kamaz PJSC                 12.10 11/23/2020   RUB    60.01
DZ Bank AG Deutsche Zentr   2.52  6/23/2022   EUR    68.35
UniCredit Bank Austria AG   0.20  1/25/2031   EUR    64.25
Lloyds Bank PLC             3.56   7/5/2033   USD    74.25
Lehman Brothers Treasury    8.25  12/3/2015   EUR    14.13
Johnston Press Bond Plc     8.63   6/1/2019   GBP    68.88
Hellenic Republic Governm   0.52  8/10/2019   EUR    69.61
Ukreximbank Via Biz Finan   7.87   2/9/2023   USD    70.00
Heta Asset Resolution AG    3.42  11/7/2016   EUR    73.75
Lehman Brothers Treasury    7.60  3/26/2009   EUR     3.09
Hellenic Republic Governm   2.27   2/7/2022   EUR    61.69
WGF Westfaelische Grundbe   6.35   8/1/2017   EUR     4.02
Sairgroup Finance BV        6.63  10/6/2010   EUR    19.88
Hamburgische Landesbank G   0.24  1/22/2041   EUR    58.20
Hamburgische Landesbank G   0.22 10/30/2040   EUR    59.61
Banco Espirito Santo SA     1.45  5/27/2018   EUR     1.01
State of Carinthia          0.75  7/20/2017   CHF     0.20
DekaBank Deutsche Girozen   3.17  9/23/2022   EUR    77.38
Heta Asset Resolution AG    0.08  8/12/2017   EUR    75.01
Mechel                      8.40  5/27/2021   RUB    62.07
Svensk Exportkredit AB      0.50  1/31/2022   ZAR    56.75
Cooperatieve Rabobank UA    0.50 11/30/2027   MXN    47.26
A-TEC Industries AG         5.75  11/2/2010   EUR     2.00
Sidetur Finance BV         10.00  4/20/2016   USD     6.63
Cooperatieve Rabobank UA    0.50 12/29/2027   MXN    48.00
DEIKON GmbH                 1.00 11/16/2016   EUR    35.80
RusHydro PJSC              12.75  4/15/2025   RUB   100.00
BNP Paribas SA              0.50  7/20/2021   BRL    50.59
Lehman Brothers Treasury    6.72 12/29/2008   EUR     3.09
Russian Railways JSC       17.90  9/20/2039   RUB    60.01
HSBC Trinkaus & Burkhardt   5.10   6/2/2016   EUR    55.61
Locko-Bank ZAO             13.75   4/2/2020   RUB    99.00
Credit Suisse AG/Nassau     9.50  10/3/2016   CHF    73.89
JP Morgan Structured Prod  12.00 11/24/2021   ZMW
UniCredit Bank AG           0.61 11/19/2029   EUR    64.13
Hema Bondco I BV            5.12  6/15/2019   EUR    64.90
Bank Julius Baer & Co Ltd   5.20  9/25/2017   EUR    58.70
Raiffeisen Centrobank AG    6.05   3/1/2017   EUR    73.96
Kaupthing Bank ehf          7.13  5/19/2016   USD     0.00
UniCredit Family Financin   0.15 12/15/2026   EUR    76.56
Atari SA                    7.50  2/17/2020   EUR     0.18
COFIDUR SA                  0.10 12/31/2024   EUR    15.01
JP Morgan Structured Prod  13.00 11/25/2024   ZMW
International Finance Fac   0.50  6/24/2024   ZAR    43.73
Lehman Brothers Treasury    7.55 12/29/2008   USD     3.09
Lehman Brothers Treasury    6.00  3/14/2011   EUR    14.13
Landesbank Hessen-Thuerin   0.36  4/23/2041   EUR    65.77
Nuova Banca Popolare dell   5.00 10/30/2023   EUR     0.32
Norske Skog Holding AS      8.00  2/24/2023   USD    25.25
SG Option Europe SA         7.00  9/22/2017   EUR    58.30
LBBW                        3.75  6/24/2016   EUR    49.25
Lehman Brothers Treasury    6.85 12/22/2008   EUR     3.09
Petrobras Global Finance    3.00  1/15/2019   USD    76.15
LBI HF                      6.10  8/25/2011   USD    12.13
J&T Banka AS                9.00              EUR    62.63
UniCredit Bank Austria AG   0.46 12/27/2026   EUR    71.50
Nordea Bank Finland Abp     2.91 10/20/2019   SEK    58.21
Getin Noble Bank SA/old     5.35  9/26/2019   PLN    78.01
Santander Finance Capital   2.00              USD    30.50
Mo-BRUK SA                  6.73  8/31/2016   PLN    86.00
Credit Suisse AG/Nassau     7.13  6/26/2017   CHF    62.39
ADLER Real Estate AG        6.00 12/27/2018   EUR    11.25
Heta Asset Resolution AG    4.63   3/4/2018   EUR    68.38
Nuova Banca Popolare dell   3.50  6/28/2018   EUR     0.32
CB First Investment Bank   12.75              EUR    70.50
Czerwona Torebka SA         6.81  4/15/2016   PLN    70.50
Privatbank CJSC Via UK SP  10.88  2/28/2018   USD    62.88
Lehman Brothers Treasury    1.00   5/9/2012   EUR     3.09
KA Finanz AG                4.44 12/20/2030   EUR    58.50
RSL Communications PLC     10.13   3/1/2008   USD     0.00
Credit Suisse AG/London     0.50   1/8/2026   BRL    26.16
Kerdos Group SA             8.00 12/15/2017   PLN    20.05
ING Bank NV                 8.05 12/30/2020   EUR    72.68
Raiffeisen Versicherung A   5.08              EUR    21.25
Sachsen Bank                0.26  1/22/2041   EUR    73.43
Banca delle Marche SpA      6.00   5/8/2018   EUR     0.94
Nuova Banca Popolare dell   4.25 10/30/2016   EUR     0.32
OT-Optima Telekom DD        5.25  5/30/2022   HRK    50.00
Jasper Explorer PLC        13.50  5/27/2016   USD     3.38
SNS Bank NV                 6.63  5/14/2018   EUR     2.93
Lehman Brothers Treasury    6.30 12/21/2018   USD     1.73
Svensk Exportkredit AB      0.50  8/28/2020   TRY    60.46
Lehman Brothers Treasury    5.00  5/12/2011   CHF     3.09
Lehman Brothers Treasury    8.28  3/26/2009   USD     3.09
UniCredit Family Financin   0.15 12/15/2026   EUR    76.55
Petromena ASA              10.85 11/19/2014   USD     0.54
Lehman Brothers Treasury    4.50   5/2/2017   EUR     3.09
Banca Popolare di Vicenza   4.97  4/20/2027   EUR    50.13
Deutsche Bank AG/London     9.33  7/30/2024   BRL    68.20
Banque Cantonale Vaudoise   6.00  5/26/2016   CHF    46.48
JP Morgan Structured Prod  14.00 11/23/2029   ZMW
Mechel                      8.00   2/9/2021   RUB    60.05
Dresdner Bank AG            0.58 11/19/2029   EUR    53.00
International Finance Fac   0.50  6/29/2020   ZAR    66.51
Ecureuil Vie Developpemen   0.82              EUR    11.75
DEMIRE Real Estate AG       6.00 12/30/2018   EUR     3.30
Raiffeisenlandesbank Nied   4.00  6/28/2023   EUR    73.50
CaixaBank SA                1.71              EUR    83.38
Lehman Brothers Treasury    4.00 10/24/2012   EUR     3.09
Lehman Brothers Treasury    5.25  5/26/2026   EUR     3.09
Lehman Brothers Treasury    3.03  1/31/2015   EUR     3.09
East Syberian Mortgage Ag   8.75  8/11/2046   RUB    92.05
Leonteq Securities AG/Gue  10.00   7/7/2016   USD    70.70
Lehman Brothers Treasury   11.00 12/20/2017   AUD     3.09
UniCredit Bank AG           6.25  5/16/2016   EUR    47.34
hkw personalkonzepte GmbH   8.25 11/15/2016   EUR     3.70
Lehman Brothers Treasury    6.60   2/9/2009   EUR     3.09
Metalloinvest Holding Co    0.01  3/10/2022   RUB    45.00
Matalan Finance PLC         8.88   6/1/2020   GBP    71.50
Lehman Brothers Treasury    6.00 10/30/2012   EUR     3.09
Lehman Brothers Treasury    4.00  12/2/2012   EUR     3.09
Biomed-Lublin Wytwornia S   7.24  8/14/2018   PLN    14.02
Vontobel Financial Produc   5.50  9/23/2016   EUR    58.00
Podkarpacki Bank Spoldzie   5.77   7/2/2020   PLN    57.00
MORTGAGE AGENT AHML 13-1    8.50   9/9/2045   RUB    58.00
DekaBank Deutsche Girozen   5.65  6/17/2016   EUR    75.28
Getin Noble Bank SA/old     4.90  2/28/2020   PLN    76.01
Nuova Banca delle Marche    7.75  6/30/2018   EUR     1.09
Finans-Avia OOO             0.01  7/31/2027   RUB    12.50
Norddeutsche Landesbank G  10.50   9/2/2016   EUR    65.63
Notenstein Finance Guerns   7.20  6/29/2016   USD    71.99
Veneto Banca SpA/Old        1.82  5/15/2019   EUR    64.38
Vontobel Financial Produc  17.05  9/23/2016   EUR    73.85
Lehman Brothers Treasury    4.70  3/23/2016   EUR     3.09
Bank Nederlandse Gemeente   0.50  7/12/2022   ZAR    54.29
Immigon Portfolioabbau AG   0.87   7/3/2019   EUR    70.38
MT-Energie GmbH & Co KG     8.25   4/4/2017   EUR     9.25
Getin Noble Bank SA/old     4.75  2/15/2021   PLN    75.10
Podkarpacki Bank Spoldzie   5.01  10/6/2021   PLN    54.20
SAG Solarstrom AG           7.50  7/10/2017   EUR    45.00
SU-155 KAPITAL OOO         13.25  2/23/2016   RUB     1.05
Lehman Brothers Treasury    4.00  7/27/2011   EUR     3.09
International Finance Fac   0.50  6/29/2027   ZAR    30.17
Notenstein La Roche Priva   5.04   3/2/2016   EUR    62.88
AKB Derzhava OJSC           9.75  7/10/2023   RUB    60.00
Lehman Brothers Treasury    7.00 11/26/2013   EUR    14.13
Lehman Brothers Treasury    4.00  7/20/2012   EUR     3.09
HSBC Bank PLC               0.50  5/31/2019   IDR    72.47
Kommunekredit               0.50  2/20/2020   BRL    60.00
Zurcher Kantonalbank Fina  10.00  6/30/2016   EUR    62.88
SG Option Europe SA         7.00   5/5/2017   EUR    43.44
Vontobel Financial Produc   4.45   9/5/2016   EUR    60.06
HSBC Trinkaus & Burkhardt   5.00   5/5/2016   EUR    72.58
Alpha Bank AE               2.50  6/20/2022   EUR    53.60
Getin Noble Bank SA/old     4.80  8/28/2020   PLN    75.00
Salvator Grundbesitz-AG     9.50              EUR    38.00
Finans-Avia OOO             8.25  7/31/2022   RUB    50.23
Mortgage Agent KHMB-1       9.20  8/25/2045   RUB    55.60
Lehman Brothers Treasury    1.46  2/19/2012   JPY    14.13
Mobile TeleSystems PJSC     5.00  6/29/2021   RUB    67.38
UniCredit Bank AG           5.20  6/20/2016   EUR    52.27
Lehman Brothers Treasury    8.00  2/16/2016   EUR     3.09
Orient Express Bank PJSC   18.00  5/28/2020   RUB    41.75
Lehman Brothers Treasury    5.00   5/2/2022   EUR     3.09
Rosseti PJSC               11.85  5/26/2025   RUB    61.09
Lehman Brothers Treasury    8.00  4/20/2009   EUR     3.09
SAir Group                  2.13  11/4/2004   CHF    11.13
DekaBank Deutsche Girozen   4.85  8/31/2016   EUR    76.00
LBBW                        5.00  3/24/2016   EUR    41.08
DekaBank Deutsche Girozen   3.25  8/11/2016   EUR    62.18
Pongs & Zahn AG             8.50              EUR     0.20
Russian Railways JSC       16.70 10/11/2038   RUB    60.03
Heta Asset Resolution AG    5.73 12/10/2021   EUR    28.63
Nuova Banca delle Marche    8.00  6/30/2018   EUR     1.09
Metalloinvest Holding Co    0.01   3/7/2022   RUB    69.17
LBBW                        5.29  9/23/2016   EUR    66.34
HC Finance OOO              8.25 11/26/2021   RUB    97.00
LBBW                        2.00  3/29/2016   EUR    68.89
NIBC Bank NV               25.98   5/7/2029   EUR    70.38
Bank Nederlandse Gemeente   0.50   6/7/2022   ZAR    55.46
Barclays Bank PLC           0.50  4/24/2023   MXN    63.77
CaixaBank SA                0.62   2/2/2037   USD    73.86
Municipality Finance PLC    0.50   5/8/2029   AUD    61.08
KFW                         0.25  10/6/2036   CAD    38.95
SG Issuer SA                6.65 10/10/2021   EUR    54.39
Penell GmbH Elektrogrosha   7.75  6/10/2019   EUR     2.54
RSL Communications PLC      9.13   3/1/2008   USD     0.00
Heta Asset Resolution AG    0.06  2/10/2018   EUR    75.01
Konservenfabrik Zachow Gm   8.00   4/1/2016   EUR     0.00
Lehman Brothers Treasury    4.00  4/13/2011   CHF     3.09
UBS AG                      4.65   7/1/2016   EUR    76.17
DekaBank Deutsche Girozen   3.80  9/25/2024   EUR    71.92
SAir Group                  4.25   2/2/2007   CHF    11.25
Kaupthing Bank ehf          7.00  7/24/2009   ISK    17.63
Commerzbank AG             10.00  5/26/2016   EUR    48.75
Leonteq Securities AG       9.60   3/9/2016   USD    56.87
Bank Julius Baer & Co Ltd   6.60  4/25/2016   CHF    71.10
Raiffeisen-Holding Nieder   2.31              EUR    68.37
Nuova Banca delle Marche    7.20  6/30/2018   EUR     1.09
Lehman Brothers Treasury    4.00  2/28/2010   EUR     3.09
Lehman Brothers Treasury    1.60  6/21/2010   JPY     3.09
Lehman Brothers Treasury    4.68 12/12/2045   EUR     3.09
Heta Asset Resolution AG    0.11   7/1/2017   EUR    75.04
Enemona AD-Kozloduy        10.00  4/28/2017   BGN     0.10
Heta Asset Resolution AG    5.03  1/26/2017   EUR    28.13
Elli Investments Ltd       12.25  6/15/2020   GBP    35.00
Lehman Brothers Treasury    0.50   7/2/2020   EUR     3.09
Province of Treviso Italy   0.19 12/31/2034   EUR    61.29
Province of Brescia Italy   0.25 12/22/2036   EUR    60.21
Province of Brescia Italy   0.35  6/30/2036   EUR    60.53
URALSIB Leasing Co OOO     10.50  4/17/2018   RUB
SAir Group                  5.13   3/1/2003   CHF    11.00
BKN biostrom AG             7.50   6/5/2016   EUR     2.50
Exane Finance               2.70  9/26/2016   USD    34.05
UniCredit Bank AG           5.00 10/18/2024   EUR    77.25
DekaBank Deutsche Girozen   2.67  11/7/2016   EUR    63.73
Salvator Grundbesitz-AG     9.50 12/31/2021   EUR    11.00
Mechel                      8.00   2/9/2021   RUB    60.05
Nota-Bank OJSC             13.50 10/13/2016   RUB    31.50
Lehman Brothers Treasury    7.00  9/20/2011   USD     3.09
Lehman Brothers Treasury    5.10  6/22/2046   EUR     3.09
Banca delle Marche SpA      6.00  6/12/2018   EUR     0.76
Goldman Sachs & Co Wertpa  14.00  3/22/2017   EUR    59.70
Lloyds Bank PLC             2.62  4/26/2033   USD    67.75
Lehman Brothers Treasury    6.65  8/24/2011   AUD    14.13
KPNQwest NV                 8.13   6/1/2009   USD     0.53
Codere Finance Luxembourg   8.25  6/15/2015   EUR    70.75
HSBC Bank PLC               0.50 12/29/2026   AUD    64.98
UBS AG/London              10.00 10/27/2016   EUR    64.48
Svensk Exportkredit AB      0.50  4/25/2019   BRL    65.55
Vegarshei Sparebank         5.16              NOK    66.21
Svensk Exportkredit AB      0.50  3/28/2029   AUD    70.31
UniCredit Bank AG           5.00  1/20/2020   USD    74.22
Vontobel Financial Produc  10.00  5/17/2016   USD    67.00
Emova Group                 4.30   5/2/2022   EUR     7.05
Lehman Brothers Treasury    5.00  8/16/2017   EUR    14.13
Ideal Standard Internatio  11.75   5/1/2018   EUR    13.75
Lehman Brothers Treasury    7.15  3/21/2013   USD     3.09
Municipality Finance PLC    0.50 11/25/2020   ZAR    66.73
Pierer Industrie AG         5.75              EUR    70.13
Transcapitalbank JSC       13.00  5/30/2023   RUB    61.01
BLT Finance BV              7.50  5/15/2014   USD     4.20
DekaBank Deutsche Girozen   3.77   7/8/2016   EUR    68.48
Atari SA                    0.10   4/1/2020   EUR     2.50
DekaBank Deutsche Girozen   3.15  4/14/2021   EUR    74.42
Credit Suisse AG/London     8.00 11/29/2019   USD     5.34
Bank Julius Baer & Co Ltd  11.73  6/10/2016   CHF    55.55
DekaBank Deutsche Girozen  11.45  2/25/2016   EUR    72.58
DekaBank Deutsche Girozen   2.10  3/25/2020   EUR    73.86
LBI HF                      7.43              USD     0.00
Lehman Brothers Treasury   11.00 12/19/2011   USD     3.09
Atomenergoprom JSC         11.10 12/12/2025   RUB    60.01
Lehman Brothers Treasury    5.00   8/1/2025   EUR     3.09
Phosphorus Holdco PLC      10.00   4/1/2019   GBP     1.53
Takko Luxembourg 2 SCA      6.86  4/15/2019   EUR    47.39
Leonteq Securities AG      10.60 12/29/2016   EUR    64.26
UBS AG/London               6.50  3/11/2016   GBP    58.22
Vontobel Financial Produc   5.35   3/3/2017   EUR    57.15
Barclays Bank PLC           8.65  7/25/2016   USD    64.84
Republika Srpska            1.50  9/26/2027   BAM    69.00
Getin Noble Bank SA/old     5.22 12/23/2019   PLN    77.00
SU-155 KAPITAL OOO         13.25  2/23/2016   RUB     1.53
Bank Nederlandse Gemeente   0.50  9/20/2022   ZAR    53.89
Lehman Brothers Treasury    5.00   9/1/2011   EUR     3.09
Takko Luxembourg 2 SCA      9.88  4/15/2019   EUR    54.42
UBS AG/London               7.00  6/24/2016   CHF    48.78
Nordea Bank Finland Abp     1.61 10/20/2019   SEK    70.25
UniCredit Bank AG           4.60  6/30/2017   EUR    54.81
Solarwatt GmbH              7.00  11/1/2015   EUR    14.50
Nordea Bank Finland Abp     4.81  1/20/2020   SEK    73.75
Heta Asset Resolution AG    1.58  6/30/2019   CHF    68.50
Mriya Agro Holding PLC     10.95  3/30/2016   USD     9.50
Lehman Brothers Treasury    2.40  6/20/2011   JPY     3.09
Kommunalbanken AS           0.50  5/27/2022   ZAR    56.19
Credit Suisse AG/Nassau     5.50  7/29/2016   EUR    74.46
ffk environment GmbH        7.25   6/1/2016   EUR     3.20
RZD Rasvytie vokzalov      12.50 10/21/2016   RUB    10.00
Raiffeisen Centrobank AG    5.00  4/18/2016   EUR    67.44
Societe Centrale des Bois   9.00   7/1/2016   EUR     6.85
Russian Railways JSC       10.80  9/19/2033   RUB    60.03
Main Road OJSC             15.30 10/30/2028   RUB    97.00
Lehman Brothers Treasury    8.00  3/19/2012   USD     3.09
KPNQwest NV                 8.88   2/1/2008   EUR     0.53
Lehman Brothers Treasury    4.60   7/6/2016   EUR     3.32
Russian Railways JSC       12.40 10/15/2040   RUB     4.96
Municipality Finance PLC    0.50  5/31/2022   ZAR    54.21
HSBC Bank PLC               0.50  2/24/2027   NZD    62.34
Societe Generale SA         0.50  5/30/2023   MXN    65.30
DekaBank Deutsche Girozen   2.00  8/19/2016   EUR    71.17
Bank J Safra Sarasin AG/G   1.00  10/9/2017   CHF    55.85
Muehl Product & Service A   6.75  3/10/2005   DEM     2.00
Immigon Portfolioabbau AG   4.90  8/18/2025   EUR    61.30
Kardan NV                   6.78   2/2/2020   ILS    70.00
Alpha Bank AE               2.50  6/20/2022   EUR    53.59
Akademiska Hus AB           2.08  4/17/2045   SEK    73.36
Nuova Banca Popolare dell   2.30  5/21/2018   EUR     0.30
Bamble Sparebank            2.30              NOK    53.16
Banca di Cividale SpA       0.03  10/2/2036   EUR    52.43
Lenta Center OOO           11.00 10/14/2020   RUB    64.38
Leonteq Securities AG       3.80  7/22/2016   CHF    76.27
Barclays Bank PLC          10.50 10/14/2016   USD     8.76
Dolomite Capital Ltd       12.50 12/20/2019   ZAR    59.97
Deutsche Bank AG            5.50  3/22/2016   EUR    69.22
Leonteq Securities AG      18.00  9/26/2016   CHF    57.23
EFG International Finance   8.99   9/4/2017   EUR    22.44
DekaBank Deutsche Girozen  10.40  3/15/2016   EUR    69.41
Credit Suisse AG/London     4.00  7/20/2016   EUR    72.48
Sparebanken Sor             2.67   6/3/2025   NOK    75.90
Astana Finance BV           9.00 11/16/2011   USD    16.00
Kerdos Group SA             8.00  3/31/2016   PLN    30.00
Bank UralSib PJSC          14.00  3/10/2017   RUB    90.05
Anglian Water Services Fi   1.08  1/26/2057   GBP    60.08
LBBW                        3.43  8/26/2016   EUR    61.70
SAir Group                  5.50  7/23/2003   CHF    11.13
RSL Communications PLC     12.00  11/1/2008   USD     0.00
Dresdner Bank AG            1.79  7/15/2023   EUR    72.92
Credit Suisse AG/London    10.25  5/31/2016   USD    20.17
Commerzbank AG              4.40  4/29/2019   EUR    60.25
Banque Cantonale Vaudoise   6.40  4/29/2016   CHF    69.09
Municipality Finance PLC    0.50   8/8/2029   NZD    59.30
MirLand Development Corp    6.00 11/30/2017   ILS    26.36
Russian Highways           12.40  4/22/2042   RUB     6.59
Kaupthing Bank ehf          5.00   1/4/2027   SKK    17.63
Lehman Brothers Treasury    8.25   2/3/2016   EUR     3.09
KPNQwest NV                 7.13   6/1/2009   EUR     0.53
BAWAG PSK Versicherungs A   1.33              EUR    56.10
UniCredit Bank Austria AG   0.24  1/24/2031   EUR    64.63
Credit Suisse AG/London     1.64   6/1/2042   USD    45.24
Deutsche Bank AG            6.00  4/15/2016   EUR    56.15
SAir Group                  6.25 10/27/2002   CHF    11.13
Araratbank OJSC             8.50  6/13/2016   USD    25.51
Credit Suisse AG/Nassau     7.25   3/8/2017   CHF    56.17
UniCredit Bank AG           5.00  2/26/2016   EUR    54.65
Deutsche Bank AG            7.20  3/22/2016   EUR    54.50
City of Hunedoara Romania   1.43  8/15/2026   RON    64.00
MirLand Development Corp    8.50  8/31/2016   ILS    23.60
Lehman Brothers Treasury    3.86  9/21/2011   SGD    16.25
Lehman Brothers Treasury    4.20  12/3/2008   HKD    16.25
Lehman Brothers Treasury    5.00  3/18/2015   EUR    14.13
Lehman Brothers Treasury    1.00  2/26/2010   USD     3.09
Lehman Brothers Treasury    4.50   3/7/2015   EUR     3.09
Municipality Finance PLC    0.50  6/19/2024   ZAR    46.04
HSBC Bank PLC               0.50   6/9/2023   MXN    65.21
Melhus Sparebank            2.70  9/16/2024   NOK    69.47
SG Issuer SA                4.57  7/10/2020   EUR    68.76
DekaBank Deutsche Girozen  10.30   9/2/2016   EUR    63.64
Leonteq Securities AG/Gue   7.18  9/14/2016   CHF    68.96
Bank Julius Baer & Co Ltd  11.05 10/21/2016   USD    65.90
Credit Suisse AG/London     7.80  7/31/2020   USD
Barclays Bank PLC           8.75  3/30/2016   USD    74.25
Nordea Bank Finland Abp     1.96 10/20/2019   SEK    69.62
City of Siret Romania       2.77   3/1/2028   RON    60.00
Russian Post FGUP           2.75  12/6/2023   RUB    60.03
Deutsche Bank AG            5.20  7/26/2017   EUR    60.90
Bank Julius Baer & Co Ltd   4.75  12/4/2017   CHF    75.80
Araratbank OJSC             7.25  6/27/2018   USD    25.14
Lehman Brothers Treasury    7.59 11/22/2009   MXN    14.13
Oberbank Hybrid 1 GmbH      1.05              EUR    79.50
Lehman Brothers Treasury    0.50   8/1/2020   EUR     4.02
Lehman Brothers Treasury    6.50  5/16/2015   EUR     3.09
Western High-Speed Diamet   9.15   2/6/2032   RUB    93.00
Province of Rovigo Italy    0.20 12/28/2035   EUR    60.39
Credit Suisse AG/Nassau     7.00  3/22/2017   CHF    54.78
RSL Communications PLC     10.50 11/15/2008   USD     0.00
Notenstein La Roche Priva   9.00   8/8/2016   USD    69.93
LBBW                        4.00  4/22/2016   EUR    53.43
Open Mortgage Agent 1       9.10  2/25/2045   RUB    70.01
Getin Noble Bank SA/old     4.90  3/30/2020   PLN    73.00
Getin Noble Bank SA/old     4.91  4/27/2020   PLN    73.00
SAir Group                  2.75  7/30/2004   CHF    11.13
CARPEVIGO AG                2.50  6/30/2016   EUR    25.00
BNP Paribas SA              0.50  11/6/2018   TRY
Municipiul Timisoara        0.69  5/12/2026   RON    60.00
Lehman Brothers Treasury    4.00  8/11/2010   USD    14.13
Heta Asset Resolution AG    0.05  8/21/2017   EUR    69.50
Hellas Telecommunications   8.50 10/15/2013   EUR     0.01
BNP Paribas Emissions- un   2.50  6/30/2022   EUR    67.65
Lehman Brothers Treasury    5.00  2/28/2032   EUR     3.09
Lehman Brothers Treasury    8.05 12/20/2010   HKD     3.09
Metalloinvest Holding Co    0.01   3/7/2022   RUB    61.77
Russian Railways JSC       12.40  5/30/2040   RUB    60.03
HSBC Bank PLC               0.50  1/29/2027   NZD    62.00
Lehman Brothers Treasury    5.50  4/23/2014   EUR     3.09
Leonteq Securities AG       3.00   8/7/2018   CHF    73.79
Landesbank Hessen-Thuerin   3.83  8/18/2016   EUR    69.35
DekaBank Deutsche Girozen   3.90  5/18/2016   EUR    57.61
Union Technologies Inform   0.10   1/1/2020   EUR     5.30
DekaBank Deutsche Girozen   3.40  6/10/2016   EUR    70.54
Raiffeisen Centrobank AG    5.50 10/14/2016   EUR    66.19
Societe Generale SA         1.35  3/31/2034   USD
IT Holding Finance SA       9.88 11/15/2012   EUR     0.28
Immigon Portfolioabbau AG   5.26   2/5/2025   EUR    59.63
International Financial C  15.50  4/26/2016   RUB    90.01
Immigon Portfolioabbau AG   4.21  1/25/2033   EUR    37.50
Vontobel Financial Produc   6.45  9/16/2016   EUR    74.46
Vontobel Financial Produc   6.70  4/22/2016   EUR    63.16
UBS AG/London               8.00  7/31/2017   CHF    58.41
Immigon Portfolioabbau AG   5.45   8/2/2019   EUR    72.70
VEB-Leasing OAO            13.09  6/23/2020   RUB    61.57
Rinol AG                    5.50 10/15/2006   DEM     0.00
Immigon Portfolioabbau AG   4.81  7/29/2025   EUR    61.00
Kaupthing Bank ehf          9.75  9/10/2015   USD    17.63
Credit Suisse AG/Nassau     8.00  2/22/2016   CHF    74.42
Nordea Bank Finland Abp     1.86  4/20/2019   SEK    73.39
Bayerische Landesbank       5.00 10/17/2016   EUR    56.60
Raiffeisen Centrobank AG    2.80 11/14/2016   EUR    36.44
Leonteq Securities AG/Gue  29.61 10/26/2017   EUR     5.55
Bank Julius Baer & Co Ltd   9.75  3/18/2016   CHF    73.65
Commerzbank AG              6.90  3/18/2016   EUR    25.03
Leonteq Securities AG       6.00   5/5/2017   CHF    76.89
Lloyds Bank PLC             0.50  7/26/2028   MXN    46.17
Wlodarzewska SA             9.19  5/15/2016   PLN    31.00
HSBC Trinkaus & Burkhardt  12.50  9/23/2016   EUR    68.50
Kaupthing Bank ehf          3.75  2/15/2024   ISK    17.63
Lehman Brothers Treasury    8.50   7/5/2016   EUR    14.13
Espirito Santo Financial    5.05 11/15/2025   EUR     0.86
Lehman Brothers Treasury    6.00  2/14/2012   EUR     3.09
Immigon Portfolioabbau AG   1.16   2/8/2019   EUR    74.00
Lehman Brothers Treasury   13.00 12/14/2012   USD     3.09
Barclays Bank PLC           0.50  3/13/2023   RUB    49.00
Barclays Bank PLC           0.50  3/26/2021   MXN    73.63
Lehman Brothers Treasury    1.75   2/7/2010   EUR     3.32
Deutsche Bank AG            7.50  3/22/2016   EUR    74.93
Vontobel Financial Produc   9.50  7/22/2016   EUR    73.76
Erste Group Bank AG         2.90 10/20/2022   EUR    64.50
Norddeutsche Landesbank G   5.19 11/25/2016   EUR    75.45
DekaBank Deutsche Girozen   3.00   5/6/2016   EUR    52.37
Credit Suisse AG/Nassau     7.25  8/11/2016   CHF    47.07
BNP Paribas Emissions- un   2.35  6/30/2021   EUR    74.64
Nordea Bank Finland Abp     4.35  4/20/2020   SEK    71.26
LZMO SA                     8.75 11/22/2016   PLN    69.00
SG Issuer SA                3.00  7/10/2020   EUR    76.67
Exane Finance               6.25 12/20/2019   SEK    67.88
EDOB Abwicklungs AG         7.50   4/1/2012   EUR     0.50
Raiffeisen Centrobank AG    6.75  6/27/2016   EUR    74.00
Commerzbank AG              6.10  10/7/2024   EUR    74.62
Credit Suisse AG/London     6.25  3/29/2016   CHF    59.24
Erste Group Bank AG         6.50  4/17/2016   EUR    63.30
Zurcher Kantonalbank Fina  10.90   6/3/2016   CHF    57.05
UniCredit Bank AG           5.00  6/25/2019   EUR    62.49
Leonteq Securities AG      10.94   4/7/2016   USD    68.17
DekaBank Deutsche Girozen   0.12  6/23/2034   EUR    71.73
RFA-Invest OAO             12.00  2/24/2016   RUB    60.00
Lehman Brothers Treasury    3.00  6/23/2009   EUR    14.13
Heta Asset Resolution AG    3.90  1/24/2017   EUR    74.00
Maritime Joint Stock Bank  12.00   3/9/2016   RUB    91.00
Western High-Speed Diamet   9.15   2/6/2032   RUB    93.61
Svensk Exportkredit AB      0.50  8/25/2021   ZAR    60.51
Cerruti Finance SA          6.50  7/26/2004   EUR     1.62
Kommunekredit               0.50 12/14/2020   ZAR    64.76
Svensk Exportkredit AB      0.50  6/28/2022   ZAR    53.94
Lehman Brothers Treasury    5.55  3/12/2015   EUR     3.09
Efesk Group                13.25  6/14/2016   RUB    10.00
Immigon Portfolioabbau AG   4.26  3/22/2024   EUR    57.88
ZapSib-Transservice OOO    15.00  4/17/2018   RUB     1.06
Credit Suisse AG/London    10.00   7/7/2016   USD    60.00
Bayerische Landesbank       3.70  11/4/2016   EUR    54.60
Heta Asset Resolution AG    0.20  8/28/2017   EUR    75.00
Leonteq Securities AG       9.00 10/31/2016   EUR    62.16
RSL Communications PLC      9.88 11/15/2009   USD     0.00
Norddeutsche Landesbank G   3.75   9/2/2016   EUR    61.03
BNP Paribas Arbitrage Iss   4.00   2/6/2020   NOK    73.25
Bayerische Landesbank       2.20  5/20/2016   EUR    54.38
Credit Suisse AG            0.50 12/16/2025   BRL    27.53
Credit Suisse AG/London     3.00 11/15/2025   ZAR    57.01
Eiendomskreditt             4.53              NOK    65.13
Bulgaria Steel Finance BV  12.00   5/4/2013   EUR     0.59
ING Bank NV                 3.00   4/8/2019   CHF    72.32
Lehman Brothers Treasury    6.00  3/18/2015   USD    14.13
Lehman Brothers Treasury    7.38  9/20/2008   EUR     3.09
Lehman Brothers Treasury    0.50 12/20/2017   AUD     3.09
Lehman Brothers Treasury    4.80 11/16/2012   HKD     3.09
Kommunekredit               0.50  7/30/2027   TRY    27.29
Kommunekredit               0.50  9/19/2019   BRL    64.58
Interregional Distributio  11.58 11/11/2025   RUB   100.00
Eksportfinans ASA           0.25  7/14/2033   CAD    15.00
Svensk Exportkredit AB      0.50  4/24/2029   AUD    61.54
LBBW                        2.51  8/26/2016   EUR    67.33
Bank Julius Baer & Co Ltd  10.20  7/27/2016   EUR    68.95
Bank Julius Baer & Co Ltd  15.70  3/31/2016   CHF    58.35
Commerzbank AG              5.00  3/24/2016   EUR    60.05
Zurcher Kantonalbank Fina   4.00  8/24/2018   CHF    75.57
DekaBank Deutsche Girozen   3.33 10/12/2020   EUR    75.91
UBS AG/London              23.75  6/24/2016   EUR    41.19
Credit Suisse AG/London     7.00  2/22/2016   EUR    70.41
ING Bank NV                 5.05  10/7/2024   EUR    50.63
Vontobel Financial Produc   3.05 12/27/2016   EUR    79.21
BNP Paribas Emissions- un  10.00 12/22/2016   EUR    56.23
Leonteq Securities AG       6.40  2/13/2019   CHF    76.04
UniCredit Bank AG           5.00  3/24/2016   EUR    67.06
UBS AG/London               5.00  4/22/2017   CHF    74.27
Municipality Finance PLC    0.50 12/15/2020   BRL    55.80
Deutsche Bank AG            7.20  7/26/2017   EUR    63.80
Transgazservice LLP        10.50  11/8/2019   RUB     1.10
Wlodarzewska SA             9.19  5/15/2016   PLN    13.00
Lehman Brothers Treasury    5.00  2/27/2014   EUR    14.13
Lehman Brothers Treasury   16.00  10/8/2008   CHF     3.09
Skue Sparebank              2.28              NOK    71.49
Lehman Brothers Treasury    7.60  1/31/2013   AUD     3.09
Credit Agricole Corporate   0.50   3/6/2023   RUB    49.15
Lehman Brothers Treasury   10.00   1/3/2012   BRL     3.09
Lehman Brothers Treasury    3.00   8/8/2017   EUR     3.09
Immigon Portfolioabbau AG   0.73  2/11/2019   EUR    72.75
Kommunalbanken AS           0.50  9/20/2018   BRL    73.02
Raiffeisen-Landesbank Tir   5.00   9/2/2024   EUR    71.11
HSBC Trinkaus & Burkhardt   5.00   7/1/2016   EUR    47.07
Erste Group Bank AG         2.70 10/20/2025   EUR    74.57
Vontobel Financial Produc  11.90  10/7/2016   EUR    69.40
Vontobel Financial Produc  12.15  10/7/2016   EUR    68.65
Gold-Zack AG                7.00 12/14/2005   EUR    12.50
Bank Spoldzielczy w Liman   5.00  5/13/2021   PLN    71.00
DekaBank Deutsche Girozen   3.20  5/20/2016   EUR    80.63
Banque Cantonale Vaudoise   1.00   7/7/2016   CHF    15.37
DekaBank Deutsche Girozen   3.40  6/24/2016   EUR    36.83
Credit Suisse AG/London     7.75   3/7/2016   CHF    55.56
Bank Julius Baer & Co Ltd   7.76  3/24/2016   CHF    47.55
Credit Suisse AG/London     7.00  3/28/2016   USD    73.43
Leonteq Securities AG       5.60  5/29/2018   CHF    75.04
UBS AG/London              10.50  5/23/2016   CHF    69.50
Credit Suisse AG/London     7.50   6/2/2016   EUR    72.95
Deutsche Bank AG            4.20 12/20/2016   EUR    51.10
Municipiul Timisoara        0.69  5/15/2026   RON    65.12
Credit Suisse AG/Nassau     8.50  4/18/2016   USD    72.56
Araratbank OJSC             8.00  6/10/2018   USD    25.65
Kerdos Group SA             8.00  4/30/2016   PLN    38.00
Windreich GmbH              6.25   3/1/2015   EUR    10.88
City of Alba Iulia Romani   2.50  4/15/2025   RON    56.00
Getin Noble Bank SA/old     5.36 10/21/2019   PLN    76.33
Getin Noble Bank SA/old     5.25 11/18/2019   PLN    78.00
Northland Resources AB     12.25  3/26/2016   USD     1.00
Lehman Brothers Treasury   10.00 10/22/2008   USD     3.09
Lehman Brothers Treasury    6.00  9/20/2011   EUR     3.09
Lehman Brothers Treasury    4.00 10/12/2010   USD     3.09
Lehman Brothers Treasury    5.00  12/6/2011   EUR     3.09
UniCredit Bank Austria AG   0.33  1/22/2031   EUR    65.13
Oberoesterreichische Land   0.30  4/25/2042   EUR    39.25
Lehman Brothers Treasury   12.00  7/13/2037   JPY     2.12
Immigon Portfolioabbau AG   0.81  5/20/2025   EUR    38.25
Deutsche Bank AG/London     0.50  3/14/2019   BRL    68.37
Municipality Finance PLC    0.50 11/21/2018   TRY    74.10
Deutsche Bank AG/London     0.50  4/18/2019   BRL    67.59
Credit Agricole Corporate   2.00   7/9/2020   BRL    62.43
Barclays Bank PLC           0.50  3/19/2021   MXN    73.72
SG Issuer SA                6.26  7/10/2020   USD    71.63
UBS AG/London               6.25   4/1/2016   CHF    72.06
Vontobel Financial Produc   8.50 12/23/2016   EUR    61.40
Praim Finans OOO           13.00   2/2/2026   RUB   100.01
Commerzbank AG              7.00 12/22/2016   EUR    68.15
Notenstein La Roche Priva   7.00  11/6/2017   CHF    72.47
Leonteq Securities AG      12.00 12/14/2016   CHF    78.48
EFG International Finance   8.32 12/21/2016   CHF    68.15
Republika Srpska            1.50  9/25/2026   BAM    74.41
Bayerische Landesbank       4.00  9/16/2016   EUR    69.10
Notenstein La Roche Priva   9.10  8/29/2016   CHF    66.66
Credit Suisse AG/Nassau     8.00  3/16/2016   USD    46.74
Zurcher Kantonalbank Fina   5.25  11/1/2016   CHF    33.71
Leonteq Securities AG/Gue   6.00 11/28/2016   CHF    73.11
Credit Suisse AG/Nassau     7.25  9/19/2016   EUR    44.81
Leonteq Securities AG       7.00  9/20/2017   CHF    66.04
Vontobel Financial Produc  21.75  6/24/2016   EUR    52.56
UBS AG/London               7.50 11/28/2016   EUR    46.61
Leonteq Securities AG       5.00   5/7/2019   CHF    54.82
Notenstein Finance Guerns   7.19   5/6/2019   EUR    42.01
Credit Suisse AG/London     7.25  4/21/2016   EUR    69.85
Nordea Bank Finland Abp     8.00  9/10/2016   SEK    69.80
Codere Finance Luxembourg   8.25  6/15/2015   EUR    70.00
UBS AG/London               9.25 11/25/2016   EUR    75.56
World of Building Technol   7.70  6/25/2019   RUB     1.20
BNP Paribas SA              0.50 10/19/2018   TRY
Espirito Santo Financial    5.63  7/28/2017   EUR     1.00
SU-155 KAPITAL OOO         13.25  2/23/2016   RUB     1.25
Lehman Brothers Treasury    2.00  6/28/2011   EUR     3.09
Lehman Brothers Treasury    7.60  5/21/2013   USD     3.09
Lehman Brothers Treasury    3.00  8/15/2017   EUR     3.09
Lehman Brothers Treasury    4.15  8/25/2020   EUR     3.09
Heta Asset Resolution AG    4.38  1/24/2017   EUR    68.00
Housing Financing Fund      2.70   1/1/2020   ISK    54.84
HSBC Bank PLC               0.50  7/30/2019   IDR    71.81
Svensk Exportkredit AB      0.50  6/20/2029   AUD    68.24
BNP Paribas SA              0.50 12/20/2018   BRL    68.80
MirLand Development Corp    6.50  9/30/2019   ILS    15.00
UBS AG/London               6.50   8/5/2016   CHF    58.54
DekaBank Deutsche Girozen   6.87  5/31/2016   EUR    70.62
Leonteq Securities AG      13.20  9/28/2016   EUR    68.09
Vontobel Financial Produc   8.35 12/23/2016   EUR    62.77
DekaBank Deutsche Girozen   3.05  3/25/2025   EUR    67.81
Boomerang SA                9.70  3/28/2016   PLN    70.00
Leonteq Securities AG      20.00  3/15/2016   CHF    69.04
ECA                         2.50   1/1/2018   EUR    11.30
Kaupthing Bank ehf          6.50  10/8/2010   ISK    17.63
Immigon Portfolioabbau AG   4.50   9/7/2020   EUR    25.00
Credit Suisse AG/Nassau     6.38  6/20/2016   CHF    70.98
Notenstein La Roche Priva   7.10  5/30/2016   CHF    48.35
UniCredit Bank AG           5.50   8/1/2016   EUR    50.14
Credit Suisse AG/Nassau    14.00  5/12/2016   USD    49.54
Leonteq Securities AG       8.20  1/16/2017   CHF    74.40
UBS AG/London              16.50  3/29/2016   EUR    35.29
Credit Suisse AG/London     7.50 12/22/2016   USD    68.24
Societe Generale SA         9.00  4/29/2016   CHF    70.20
Municipiul Timisoara        0.69  5/15/2026   RON    64.20
HSBC Bank PLC               0.50 12/22/2025   BRL    32.56
Northland Resources AB     15.00  7/15/2019   USD     1.00
Lehman Brothers Treasury    8.88  1/28/2011   HKD    14.13
Lehman Brothers Treasury   18.25  10/2/2008   USD     3.09
Totens Sparebank            2.75              NOK    71.07
Svensk Exportkredit AB      0.50  8/28/2018   BRL    72.14
Bank Nederlandse Gemeente   0.50  6/22/2021   ZAR    61.75
Municipality Finance PLC    0.50  4/26/2022   ZAR    55.00
Immigon Portfolioabbau AG   3.09 10/15/2020   EUR    68.50
Freshwater Finance PLC      6.18  4/20/2035   GBP    61.00
Leonteq Securities AG      10.40 11/14/2016   EUR    62.43
Leonteq Securities AG      10.00 10/13/2016   EUR    77.03
UBS AG/London               7.50  7/24/2017   EUR    71.42
Bank Julius Baer & Co Ltd  11.00  2/14/2017   USD    61.45
Credit Suisse AG/London     7.25  8/15/2016   EUR    68.74
SG Issuer SA                5.50  4/10/2021   EUR    56.23
Deutsche Bank AG            5.20  3/22/2016   EUR    62.30
BNP Paribas Emissions- un  12.00  3/24/2016   EUR    74.12
DekaBank Deutsche Girozen   5.20  8/11/2016   EUR    61.32
DekaBank Deutsche Girozen   7.80  6/30/2016   EUR    81.00
Deutsche Bank AG            8.50  6/21/2016   EUR    66.52
Leonteq Securities AG      14.00  11/4/2016   EUR    77.85
Bank Julius Baer & Co Ltd  11.40   2/6/2017   USD    61.05
Notenstein La Roche Priva   7.00  8/14/2017   CHF    72.28
LBBW                        2.90  8/26/2016   EUR    72.89
UBS AG/London               8.00  8/26/2016   CHF    46.78
Zurcher Kantonalbank Fina  14.50  3/16/2016   EUR    62.96
Credit Suisse AG/Nassau     6.00  7/31/2017   CHF    75.71
LBI HF                      5.08   3/1/2013   ISK     8.50
Kaupthing Bank ehf          7.50  12/5/2014   ISK    17.63
Goldman Sachs Internation   0.67   6/8/2020   GBP    74.00
UBS AG/London              24.75  3/29/2016   EUR    23.17
Credit Suisse AG/Nassau     8.50  2/29/2016   USD    44.69
Leonteq Securities AG/Gue   8.04  8/29/2016   EUR    69.76
Leonteq Securities AG/Gue   5.99  9/11/2017   EUR    44.93
Bank Julius Baer & Co Ltd  10.20   4/1/2016   USD    71.35
UBS AG                      8.25  3/29/2016   EUR    71.56
Bayerische Landesbank       3.70   6/3/2016   EUR    47.60
UBS AG/London               8.25  3/29/2016   EUR    29.47
Landesbank Hessen-Thuerin   5.50  5/27/2016   EUR    64.90
Credit Suisse AG/London    15.25  6/29/2016   USD    40.95
Leonteq Securities AG/Gue   5.00 12/12/2016   CHF    70.59
UBS AG/London               3.30  8/24/2016   EUR    53.66
Vontobel Financial Produc  20.00  6/24/2016   EUR    44.58
Vontobel Financial Produc  11.00  4/22/2016   EUR    47.48
Credit Suisse AG/Nassau     5.13   4/3/2018   CHF    64.66
UBS AG/London               8.00  5/26/2017   EUR    59.16
Credit Suisse AG/Nassau     7.25   9/6/2016   CHF    66.84
Banque Cantonale Vaudoise  11.95  2/26/2016   USD    51.10
Zurcher Kantonalbank Fina   9.40  9/19/2016   CHF    66.68
LBBW                        4.50  6/24/2016   EUR    73.64
LBBW                        3.50  7/28/2017   EUR    73.45
LBBW                        4.80  6/23/2017   EUR    66.69
HSBC Trinkaus & Burkhardt   9.00  6/24/2016   EUR    71.47
Vontobel Financial Produc  15.00  3/29/2016   EUR    65.55
MirLand Development Corp    7.21  5/31/2020   ILS    22.60
Fonciere Volta SA           4.50  7/30/2020   EUR     2.36
Getin Noble Bank SA/old     4.79   6/5/2020   PLN    73.00
UBS AG/London              10.00 11/25/2016   CHF    67.68
Mortgage Agent Absolut 1    9.20 11/12/2040   RUB    80.00
Credit Suisse AG/London     7.25 11/23/2016   CHF    58.60
Deutsche Bank AG            6.50  9/20/2016   EUR    79.09
Nota-Bank OJSC             13.50   4/1/2016   RUB    31.50
Svensk Exportkredit AB      0.50  3/15/2022   ZAR    55.62
Lehman Brothers Treasury    0.50 12/20/2017   AUD     3.09
Lehman Brothers Treasury    4.70  3/23/2016   EUR     3.09
Lehman Brothers Treasury    6.00  3/17/2011   EUR     3.09
Probanka dd                 1.36              EUR    49.75
HSBC Bank PLC               0.50  12/8/2026   AUD    65.39
Immigon Portfolioabbau AG   2.15  3/25/2019   EUR    75.63
Interregional Distributio  12.42  5/23/2025   RUB    75.25
Province of Treviso Italy   0.09 12/31/2034   EUR    59.62
Bank Nederlandse Gemeente   0.50  9/20/2022   MXN    70.31
Leonteq Securities AG       9.40 10/24/2016   EUR    49.16
Leonteq Securities AG/Gue   6.84   2/6/2017   EUR    66.67
Leonteq Securities AG      16.00   4/6/2016   CHF    48.04
URALSIB Leasing Co OOO     10.50  4/17/2018   RUB
Bank Julius Baer & Co Ltd   7.80 10/14/2016   CHF    51.80
Credit Suisse AG/Nassau     7.00  8/25/2016   CHF    48.62
Leonteq Securities AG       7.60   7/6/2016   CHF    74.16
Deutsche Bank AG            7.50  3/22/2016   EUR    66.43
Goldman Sachs & Co Wertpa   3.00  3/23/2016   EUR    71.27
UBS AG/London              10.00   9/2/2016   USD    75.75
Notenstein Finance Guerns   9.36   9/7/2017   CHF    72.92
Goldman Sachs & Co Wertpa   9.00  2/24/2016   EUR    58.62
Notenstein La Roche Priva   4.80  1/24/2018   CHF    74.73
Heta Asset Resolution AG    0.69  9/20/2017   EUR    30.28
Leonteq Securities AG/Gue   6.70   6/6/2016   USD    36.97
Credit Suisse AG/Nassau     7.00   3/9/2016   CHF    54.86
Credit Suisse AG/Nassau     7.38  3/18/2016   CHF    69.70
Barclays Bank PLC           2.50   3/7/2017   EUR    48.89
Credit Suisse AG/Nassau    12.20   6/3/2016   EUR    56.53
DZ Bank AG Deutsche Zentr   8.00  3/29/2016   EUR    58.85
Leonteq Securities AG       7.00  8/29/2016   CHF    75.77
Societe Generale SA         0.52  5/20/2016   USD    41.70
Banque Cantonale Vaudoise   8.20   3/3/2016   EUR    49.46
LBBW                        2.50  2/24/2017   EUR    66.47
Credit Suisse AG/Nassau     6.25 10/31/2016   EUR    47.25
DZ Bank AG Deutsche Zentr   4.00  5/20/2016   EUR    55.37
Leonteq Securities AG      10.00 12/14/2016   EUR    70.64
Nutritek International Co   8.75 12/11/2008   USD     2.00
Deutsche Bank AG            6.50  3/22/2016   EUR    74.65
Deutsche Bank AG            6.50  9/20/2016   EUR    74.64
Bank Nederlandse Gemeente   0.50  5/12/2021   ZAR    61.97
Lehman Brothers Treasury   10.00  5/22/2009   USD     3.09
Lehman Brothers Treasury    4.87  10/8/2013   USD     3.09
Lehman Brothers Treasury    7.00  2/15/2010   CHF     3.09
Lehman Brothers Treasury    8.00 12/31/2010   USD     3.09
Promnefteservis OOO        10.50 11/21/2019   RUB     4.00
Steiermaerkische Bank und   1.25              EUR    44.73
Lehman Brothers Treasury    5.00 10/24/2008   CHF     3.09
Municipality Finance PLC    0.50 12/14/2018   TRY    73.61
HSBC Bank PLC               0.50  2/21/2019   BRL    70.74
Municipality Finance PLC    0.25  6/28/2040   CAD    29.70
Drangedal Sparebank         2.29              NOK    71.22
PKVIT OOO                  11.00 10/14/2020   RUB    64.38
Goldman Sachs & Co Wertpa   6.00  8/24/2016   EUR    71.71
Goldman Sachs & Co Wertpa   4.00  8/24/2016   EUR    60.52
Goldman Sachs & Co Wertpa   4.00  8/24/2016   EUR    52.32
Goldman Sachs & Co Wertpa   6.00 12/21/2016   EUR    70.37
Goldman Sachs & Co Wertpa   6.00  3/22/2017   EUR    70.90
Goldman Sachs & Co Wertpa   6.00  3/22/2017   EUR    70.90
Notenstein La Roche Priva   9.00   1/6/2017   CHF    59.76
UBS AG/London               7.50   7/3/2017   EUR    52.30
UniCredit Bank AG           2.51  7/20/2022   EUR    70.65
Dayli Polska Sp zoo         8.50   9/5/2016   PLN    25.00
DekaBank Deutsche Girozen   3.00 10/12/2020   EUR    76.49
Banque Cantonale Vaudoise  16.90  8/19/2016   EUR    81.58
Raiffeisen Centrobank AG    6.50  7/28/2016   EUR    70.73
Bayerische Landesbank       3.10  11/4/2016   EUR    54.83
Credit Suisse AG/Nassau     6.25 10/10/2016   EUR    62.71
Deutsche Bank AG            5.20  3/22/2016   EUR    41.10
UBS AG/London              11.25   4/1/2016   CHF    62.41
Vontobel Financial Produc  13.95 12/23/2016   EUR    58.09
DZ Bank AG Deutsche Zentr  15.25  6/24/2016   EUR    72.74
Credit Suisse AG/Nassau     9.25  9/26/2016   EUR    63.37
Bank Julius Baer & Co Ltd   9.00 10/21/2016   USD    78.20
BNP Paribas Arbitrage Iss   6.55  3/28/2025   EUR    48.85
UBS AG/London               8.99   6/3/2016   USD     2.54
Leonteq Securities AG      11.00   1/9/2017   EUR    55.81
Leonteq Securities AG       5.60  9/11/2017   CHF    54.08
Societe Generale SA         7.20   3/2/2016   EUR    68.82
Bank Julius Baer & Co Ltd  10.40  9/15/2016   CHF    74.90
Credit Suisse AG/Nassau     7.00  1/23/2017   EUR    72.20
Russian Railways JSC       16.00  5/29/2035   RUB    60.03
DEIKON GmbH                 1.00   7/1/2016   EUR    17.50
Credit Suisse AG/Nassau     7.25  7/13/2017   CHF    65.74
Credit Suisse AG/Nassau     5.50  6/13/2016   CHF    48.42
DekaBank Deutsche Girozen   3.00   5/4/2018   EUR    63.98
UBS AG/London               5.00 12/23/2016   EUR    68.68
Credit Suisse AG/Nassau     7.25  2/22/2016   CHF    74.05
UniCredit Bank AG           4.00  6/23/2016   EUR    57.19
BNP Paribas Emissions- un   2.10 12/30/2020   EUR    75.28
UniCredit Bank AG           4.40  9/19/2018   EUR    66.64
UniCredit Bank AG           5.00  6/16/2016   EUR    52.48
Zurcher Kantonalbank Fina   4.26  12/9/2016   CHF    67.42
UniCredit Bank AG           4.25  6/24/2016   EUR    35.61
Notenstein La Roche Priva   8.16  3/16/2016   CHF    70.53
Landesbank Hessen-Thuerin   4.00  4/15/2016   EUR    76.10
Bank Julius Baer & Co Ltd   7.05  3/14/2016   CHF    51.20
Credit Suisse AG/Nassau     6.00  10/3/2016   EUR    44.04
Credit Suisse AG/Nassau     6.00  12/2/2016   EUR    47.97
Leonteq Securities AG       9.92  5/29/2017   EUR    57.85
Vontobel Financial Produc   7.65  12/9/2016   EUR    58.26
Zurcher Kantonalbank Fina   5.35  6/10/2016   CHF    76.81
UniCredit Bank AG           3.80  7/23/2020   EUR    66.91
Bank Julius Baer & Co Ltd  10.00  2/26/2016   USD    71.25
Leonteq Securities AG       7.80  2/27/2017   EUR    52.70
EFG International Finance   7.20  2/25/2019   EUR    29.20
UniCredit Bank AG           4.80  3/24/2016   EUR    70.88
Vontobel Financial Produc   9.00  2/26/2016   EUR    75.58
LBBW                        2.50  7/28/2017   EUR    60.79
Leonteq Securities AG       9.20   5/5/2017   USD    69.03
Bank Julius Baer & Co Ltd  13.70  5/13/2016   USD    34.50
Bank J Safra Sarasin AG/G   8.00   5/4/2017   CHF    64.21
Vontobel Financial Produc   6.00  5/27/2016   EUR    31.77
Credit Suisse AG/Nassau     8.00 11/21/2016   EUR    50.33
Credit Suisse AG/Nassau     8.25  5/20/2016   USD    41.94
WGZ-Bank AG Westdeutsche    5.75  6/22/2016   EUR    72.31
UniCredit Bank AG           5.00  3/24/2016   EUR    53.02
Credit Suisse AG/Nassau     8.00  9/16/2016   EUR    70.11
DekaBank Deutsche Girozen  11.85  2/25/2016   EUR    74.29
Bank Julius Baer & Co Ltd  10.20  4/22/2016   CHF    75.70
Credit Suisse AG/London     6.25  4/14/2016   CHF    58.35
Leonteq Securities AG       7.20  4/24/2017   EUR    50.01
HSBC Trinkaus & Burkhardt  12.40  6/24/2016   EUR    70.17
Commerzbank AG             10.00  2/25/2016   EUR    55.56
Ipotechny Agent KM OOO      0.37  6/30/2022   RUB    49.80
ECM Real Estate Investmen   5.00  10/9/2011   EUR    10.38
Lehman Brothers Treasury   11.00  6/29/2009   EUR     3.09
Lehman Brothers Treasury    4.00 11/24/2016   EUR     3.09
Lehman Brothers Treasury    2.30  4/28/2014   JPY     3.09
Lehman Brothers Treasury    4.05  9/16/2008   EUR     3.09
Lehman Brothers Treasury   10.00   1/4/2010   USD     3.09
Lehman Brothers Treasury    6.00 12/30/2017   EUR     3.09
Lehman Brothers Treasury   11.00   7/4/2011   CHF     3.09
Lehman Brothers Treasury    5.75  6/15/2009   CHF     3.09
Lehman Brothers Treasury    5.50 11/30/2012   CZK     3.09
Lloyds Bank PLC             0.50  4/24/2019   BRL    67.46
Lehman Brothers Treasury    4.05  9/16/2008   EUR     3.09
Agrokompleks OOO           12.50  12/8/2022   RUB   100.01
Raiffeisenverband Salzbur   0.01  2/28/2031   EUR    78.84
Immigon Portfolioabbau AG   4.80   5/9/2025   EUR    57.13
Cooperatieve Rabobank UA    0.50  8/21/2028   MXN    45.76
HSBC Bank PLC               0.50  4/11/2023   MXN    65.93
Deutsche Bank AG            5.50  9/20/2016   EUR    74.08
Deutsche Bank AG            5.50 12/20/2016   EUR    73.88
Deutsche Bank AG            7.50 12/20/2016   EUR    64.48
Deutsche Bank AG            7.50  3/22/2016   EUR    73.12
Deutsche Bank AG            7.50 12/20/2016   EUR    56.14
Kerdos Group SA             8.00   3/9/2018   PLN    49.00
Notenstein La Roche Priva   7.20   2/7/2017   CHF    71.25
Credit Suisse AG/London     8.00  2/22/2016   USD    68.48
EFG International Finance   5.30  6/24/2019   EUR    66.54
UBS AG/London              10.00  7/22/2016   USD    63.07
LBBW                        3.00  9/25/2020   EUR    76.18
LBBW                        3.00  9/27/2019   EUR    71.29
Credit Suisse AG/London    19.60  9/22/2016   USD    54.00
LBBW                        5.00  8/26/2016   EUR    44.10
LBBW                        9.35  9/23/2016   EUR    63.54
Credit Suisse AG/London     5.00  6/30/2016   EUR    74.92
Notenstein La Roche Priva   4.00   4/6/2016   CHF    75.38
Credit Suisse AG/Nassau     6.25 10/17/2016   EUR    42.99
Bank Julius Baer & Co Ltd   7.50  9/30/2016   EUR    57.15
Credit Suisse AG/London     5.00  8/10/2016   CHF    70.92
DekaBank Deutsche Girozen   2.70 10/12/2020   EUR    75.44
SG Issuer SA                4.21  7/10/2020   EUR    50.81
Notenstein La Roche Priva   6.60  5/19/2016   CHF    63.59
Leonteq Securities AG      20.00  9/21/2016   CHF    68.95
DZ Bank AG Deutsche Zentr   5.50  8/31/2016   EUR    62.18
Notenstein La Roche Priva   8.30 10/17/2016   USD    43.43
UBS AG                      2.75  8/18/2016   USD     5.49
WGZ-Bank AG Westdeutsche    6.00  9/27/2016   EUR    61.89
Leonteq Securities AG       9.20  7/20/2016   CHF    76.01
Credit Suisse AG/Nassau     8.00  7/20/2016   EUR    73.87
Leonteq Securities AG       6.20  7/24/2018   CHF    70.64
Bank J Safra Sarasin AG/G   9.60 10/17/2016   CHF    70.67
Credit Suisse AG/London     8.00  7/31/2020   USD     8.50
Getin Noble Bank SA/old     4.81  10/7/2020   PLN    70.00
Kaupthing Bank ehf          7.63  2/28/2015   USD    17.63
Lehman Brothers Treasury    5.50  6/22/2010   USD    16.25
DekaBank Deutsche Girozen   8.50 10/27/2016   EUR    42.39
Credit Suisse AG/Nassau     7.50  5/10/2016   EUR    60.70
Notenstein La Roche Priva   6.50   7/2/2018   USD    56.99
UBS AG/London               6.00  6/24/2016   EUR    65.11
Raiffeisen Centrobank AG    7.25  9/26/2016   EUR    37.52
Credit Suisse AG/Nassau     7.13   3/9/2016   CHF    73.09
WGZ-Bank AG Westdeutsche    5.00  6/10/2016   EUR    60.14
Goldman Sachs Internation   0.67  4/24/2020   GBP    72.63
Credit Suisse AG/Nassau     5.25  5/14/2018   CHF    75.22
EFG International Finance  12.86 10/30/2017   EUR    30.14
EFG International Finance   6.48  5/29/2018   EUR     7.61
UBS AG                     17.50  3/29/2016   EUR    54.61
UBS AG                     15.75  3/29/2016   EUR    76.06
Oravita City Council        2.61  6/15/2027   RON    72.00
Notenstein Finance Guerns   7.20  2/25/2016   CHF    74.63
UBS AG/London              24.50  9/23/2016   EUR    67.44
Credit Suisse AG/Nassau     6.00 12/12/2016   CHF    75.10
Deutsche Bank AG            8.20  6/21/2016   EUR    73.80
Landesbank Hessen-Thuerin   4.75  4/15/2016   EUR    70.10
Credit Suisse AG/Nassau     5.00  3/27/2017   CHF    73.88
Landesbank Hessen-Thuerin   6.35  3/18/2016   EUR    44.20
Bank Julius Baer & Co Ltd   8.80  3/24/2016   EUR    60.50
Credit Suisse AG/London     4.00  10/3/2016   CHF    74.31
UBS AG/London               7.00  5/22/2017   CHF    45.99
DekaBank Deutsche Girozen   5.60 11/21/2016   EUR    72.67
Credit Suisse AG/Nassau     7.55 11/28/2016   CHF    50.54
Leonteq Securities AG      16.40  9/15/2016   CHF    44.75
UBS AG/London               9.25  6/10/2016   CHF    45.95
Bank Julius Baer & Co Ltd   9.90  6/27/2016   USD    56.10
BNP Paribas Emissions- un   7.00 12/22/2016   EUR    39.70
Leonteq Securities AG       5.20  2/20/2019   CHF    74.88
Bank J Safra Sarasin AG/G   5.90  2/26/2016   CHF    76.84
Deutsche Bank AG            5.20  3/23/2016   EUR    44.83
Deutsche Bank AG            6.20  3/23/2016   EUR    60.87
HSBC Trinkaus & Burkhardt   5.00  1/30/2018   EUR    56.23
BNP Paribas Emissions- un   3.50  3/24/2016   EUR    66.25
Deutsche Bank AG            4.20  6/21/2016   EUR    59.80
Credit Suisse AG/Nassau     9.00  8/11/2016   USD    66.58
Leonteq Securities AG/Gue   6.00  1/30/2017   USD    70.76
Vontobel Financial Produc   8.00  2/26/2016   EUR    72.24
Erste Group Bank AG         6.50  2/27/2016   EUR    69.30
Norddeutsche Landesbank G   4.75   6/3/2016   EUR    63.19
LBBW                        3.00  6/23/2017   EUR    74.55
LBBW                        3.00  4/29/2019   EUR    68.81
Credit Suisse AG/Nassau     8.00  4/29/2016   CHF    73.07
Leonteq Securities AG       6.00   5/5/2017   CHF    72.87
Credit Suisse AG/Nassau     9.75  4/27/2016   EUR    72.10
Bank Julius Baer & Co Ltd  11.00  5/13/2016   EUR    69.25
Bank Julius Baer & Co Ltd   5.60   5/9/2016   USD    77.85
Leonteq Securities AG      15.80  5/11/2016   CHF    68.76
WGZ-Bank AG Westdeutsche    5.00  3/15/2016   EUR    61.08
Leonteq Securities AG       9.00  5/18/2016   CHF    53.24
EFG International Finance   6.26   5/7/2018   EUR    71.54
Norddeutsche Landesbank G   3.75  6/27/2016   EUR    67.65
Landesbank Hessen-Thuerin   3.80  9/12/2016   EUR    73.00
Zurcher Kantonalbank Fina   7.04  5/20/2016   EUR    70.53
Credit Suisse AG/London     6.25  5/26/2017   CHF    66.66
LBBW                        3.52  2/26/2016   EUR    57.81
DekaBank Deutsche Girozen  10.50   4/1/2016   EUR    68.46
Credit Suisse AG/London     7.50  4/25/2016   CHF    60.24
Notenstein La Roche Priva  10.00  4/29/2016   CHF    73.69
Leonteq Securities AG       3.00  9/19/2019   CHF    54.21
Norddeutsche Landesbank G   3.00   5/6/2016   EUR    60.09
Barclays Bank PLC           8.10  4/15/2016   USD    56.50
HSBC Bank PLC               0.50 11/25/2025   BRL    32.81
DZ Bank AG Deutsche Zentr   4.00  12/7/2016   EUR    73.91
Commerzbank AG              1.00 11/28/2016   EUR    33.87
Ingra DD                    6.13  12/6/2016   HRK    12.99
Windreich GmbH              6.75   3/1/2015   EUR    10.88
SAir Group                  2.75  7/30/2004   CHF    11.13
Central European Estates    7.80  4/10/2016   ILS     6.85
Leonteq Securities AG      10.20 11/30/2016   CHF    64.32
Kerdos Group SA             8.00  5/31/2016   PLN    75.00
Lehman Brothers Treasury    4.35   8/8/2016   SGD    14.13
Lehman Brothers Treasury    4.60 10/11/2017   ILS    14.13
Lehman Brothers Treasury    2.50 12/15/2011   GBP     3.09
Lehman Brothers Treasury   13.00  2/16/2009   CHF     3.09
Lehman Brothers Treasury    1.68   3/5/2015   EUR     3.09
Lehman Brothers Treasury    0.75  3/29/2012   EUR     3.09
Lehman Brothers Treasury   12.22 11/21/2017   USD     3.09
Svensk Exportkredit AB      0.50  6/26/2019   TRY    69.26
Lehman Brothers Treasury    6.00  5/23/2018   CZK     3.09
Lehman Brothers Treasury    3.50  9/29/2017   EUR     3.09
Lehman Brothers Treasury    5.00 11/22/2012   EUR     3.09
Lehman Brothers Treasury    3.00   6/3/2010   EUR     3.09
Hypo Tirol Bank AG          0.02   6/1/2033   EUR    67.66
Lehman Brothers Treasury    8.00 10/23/2008   USD     3.09
Oberoesterreichische Land   0.32  11/6/2030   EUR    57.88
HSBC Bank PLC               0.50 10/30/2026   NZD    62.81
Lehman Brothers Treasury    6.70  4/21/2011   USD     3.09
Otkritie Holding OAO       12.50   8/2/2018   RUB    60.76
Lehman Brothers Treasury    3.50  9/19/2017   EUR     3.09
Agentstvo po Ipotechnomu    9.91  11/1/2032   RUB    22.96
Immigon Portfolioabbau AG   4.20  2/22/2033   EUR    37.50
BNP Paribas SA              0.50   5/6/2021   MXN    72.28
Sparebanken Din             2.40              NOK    70.14
Ipotechny Agent AK Bars     3.00  5/10/2047   RUB    53.39
Municipality Finance PLC    0.50  7/30/2029   AUD    68.88
Nordea Bank Finland Abp     3.70  1/20/2020   SEK    74.50
SG Issuer SA                4.66  7/10/2020   SEK    68.31
Deutsche Bank AG            7.50  3/22/2016   EUR    74.93
Leonteq Securities AG       9.00 10/24/2016   EUR    68.97
Leonteq Securities AG       5.00  8/14/2017   EUR    74.91
UBS AG/London               8.25   8/7/2017   EUR    59.99
Goldman Sachs & Co Wertpa   6.00 12/21/2016   EUR    70.37
Goldman Sachs & Co Wertpa   6.00  6/21/2017   EUR    69.80
Leonteq Securities AG       6.00  8/21/2017   EUR    74.44
Goldman Sachs & Co Wertpa   4.00  6/21/2017   EUR    65.83
UBS AG/London               7.00  6/26/2017   EUR    54.71
UBS AG/London               5.00  7/22/2016   EUR    71.42
Leonteq Securities AG       9.40  8/17/2016   EUR    59.80
Bank Julius Baer & Co Ltd   6.60  8/26/2016   EUR    71.75
UBS AG/London               8.25  8/19/2016   CHF    42.39
Credit Suisse AG/Nassau     5.50   8/3/2017   EUR    57.78
Credit Suisse AG/Nassau     8.05  9/27/2016   CHF    41.89
Societe Generale Effekten   4.62  3/29/2016   EUR    68.29
UniCredit Bank AG           4.00  6/24/2016   EUR    65.54
UBS AG/London               4.20  3/11/2016   EUR    71.89
Commerzbank AG              3.00  9/15/2016   EUR    70.39
Leonteq Securities AG       8.00 12/14/2016   EUR    74.47
Credit Suisse AG/Nassau     7.00  5/13/2016   CHF    74.92
Credit Suisse AG/Nassau     8.00  7/18/2016   EUR    51.77
Vontobel Financial Produc   5.00   2/6/2017   EUR    62.99
UBS AG                      9.50  9/23/2016   EUR    79.04
Goldman Sachs & Co Wertpa   6.00  3/22/2017   EUR    58.80
Leonteq Securities AG      10.00  12/8/2016   EUR    70.93
Credit Suisse AG/Nassau     6.00  8/28/2017   CHF    74.00
Credit Suisse AG/Nassau     8.75   9/9/2016   EUR    65.39
Credit Suisse AG/Nassau     5.25  1/17/2017   CHF    75.20
Credit Suisse AG/Nassau     6.50  7/21/2016   CHF    71.72
Leonteq Securities AG       9.40 10/24/2016   EUR    51.22
Leonteq Securities AG       9.00 10/24/2016   EUR    69.34
Landesbank Hessen-Thuerin   4.75 11/10/2016   EUR    73.70
Leonteq Securities AG       7.00  7/28/2017   CHF    68.94
LBI HF                      8.65   5/1/2011   ISK     8.50
Heta Asset Resolution AG    0.20  4/22/2018   EUR    75.10
Municipiul Timisoara        0.69  5/15/2026   RON    63.00
Bank Julius Baer & Co Ltd   2.90  1/17/2019   USD    74.90
Landesbank Hessen-Thuerin   3.45   7/7/2016   EUR    62.00
Credit Suisse AG/Nassau     6.50  7/15/2016   CHF    72.96
Bank Julius Baer & Co Ltd   1.85  9/23/2019   USD    75.40
Credit Suisse AG/Nassau     8.00   3/1/2016   CHF    73.31
Credit Suisse AG/Nassau     7.30  3/10/2016   CHF    67.12
Credit Suisse AG/Nassau     7.00  3/21/2016   CHF    55.49
Leonteq Securities AG       7.20  9/26/2016   EUR    61.55
Goldman Sachs & Co Wertpa   4.00  3/23/2016   EUR    56.39
Goldman Sachs & Co Wertpa   7.00  3/23/2016   EUR    34.89
Goldman Sachs & Co Wertpa   7.00  3/23/2016   EUR    34.89
Notenstein La Roche Priva   3.50  9/26/2018   CHF    69.38
LBBW                        3.25  1/26/2018   EUR    60.73
LBBW                        4.00  7/22/2016   EUR    62.91
Notenstein La Roche Priva   3.00  3/27/2018   CHF    75.74
HSBC Trinkaus & Burkhardt   6.40  6/24/2016   EUR    76.11
Vontobel Financial Produc   8.00  4/22/2016   EUR    49.96
Leonteq Securities AG       8.00  3/31/2017   CHF    67.75
Leonteq Securities AG       4.75  3/30/2016   CHF    71.30
Credit Suisse AG/Nassau     7.00  10/3/2016   CHF    61.37
EFG International Finance   9.10  3/23/2016   USD    37.92
Leonteq Securities AG       5.00   4/9/2019   CHF    69.90
DZ Bank AG Deutsche Zentr   7.30  9/19/2016   EUR    75.84
Societe Generale SA         8.88   6/1/2017   USD    67.65
Credit Suisse AG/Nassau     6.38  6/12/2017   EUR    51.81
UBS AG                      9.50  6/24/2016   EUR    77.09
Societe Generale Effekten  10.85 10/10/2016   EUR    25.67
UniCredit Bank AG           4.40  7/13/2018   EUR    64.77
Bank Julius Baer & Co Ltd   6.00  6/19/2017   EUR    62.40
Raiffeisen Centrobank AG    7.37  3/22/2017   EUR    71.22
Raiffeisen Centrobank AG    6.70  3/13/2017   EUR    51.72
Landesbank Hessen-Thuerin   3.60  6/13/2016   EUR    51.70
Credit Suisse AG/Nassau     7.00   9/5/2016   EUR    47.58
Societe Generale Effekten   6.87   7/7/2016   EUR    59.41
EFG International Finance   7.20  2/25/2019   EUR    51.82
BNP Paribas Emissions- un   5.40  2/25/2016   EUR    51.58
Leonteq Securities AG      12.40   5/6/2016   CHF    41.63
Credit Suisse AG/London     6.25  11/8/2016   EUR    76.33
EFG International Finance   7.19   5/6/2019   EUR    28.99
Bayerische Landesbank       4.60  6/10/2016   EUR    72.86
Zurcher Kantonalbank Fina  12.03  3/11/2016   EUR    38.40
Zurcher Kantonalbank Fina  11.60 10/31/2016   CHF    67.58
Credit Suisse AG/Nassau    10.20  4/14/2016   EUR    69.51
Goldman Sachs & Co Wertpa   7.00  3/23/2016   EUR    40.17
Credit Suisse AG/Nassau     7.00  5/10/2016   CHF    51.60
Commerzbank AG              7.75  2/25/2016   EUR    58.44
Municipality Finance PLC    0.50 12/28/2018   IDR    75.14
BNP Paribas SA              0.50  9/29/2029   AUD    54.18
Leonteq Securities AG      12.70  12/9/2016   EUR    76.45
UniCredit Bank AG           4.20  8/29/2016   EUR    68.75
Bank Julius Baer & Co Ltd   9.90 11/11/2016   USD    67.00
Ipotechniy Agent Fora       8.75   6/5/2045   RUB    75.75
City of Hunedoara Romania   1.43  8/15/2026   RON    70.00
Lehman Brothers Treasury    1.28  11/6/2010   JPY    14.13
Ipotechny Agent Moskovsky   7.00  9/17/2028   RUB    66.00
Lehman Brothers Treasury    7.50   5/2/2017   EUR     3.09
Lehman Brothers Treasury    4.69  2/19/2017   EUR     3.09
Lehman Brothers Treasury   10.00   8/2/2037   JPY     3.09
Lehman Brothers Treasury    3.82 10/20/2009   USD     3.09
Lehman Brothers Treasury   13.50 11/28/2008   USD     3.09
Strommen Sparebank          2.37              NOK    38.54
Immigon Portfolioabbau AG   0.89   3/1/2021   EUR    58.25
Barclays Bank PLC           0.50  1/28/2033   MXN    33.10
Societe Generale SA         0.50   4/3/2023   RUB    48.74
Haltdalen Sparebank         2.42              NOK    54.92
Nesset Sparebank            2.47              NOK    54.36
Lehman Brothers Treasury    4.82 12/18/2036   EUR     3.09
Lehman Brothers Treasury    5.25   4/1/2023   EUR     3.09
Lehman Brothers Treasury    3.20  3/19/2018   JPY     3.09
Zapsibcombank PAO          14.85 12/12/2019   RUB    66.85
UBS AG/London               5.00   8/7/2017   CHF    67.44
Goldman Sachs & Co Wertpa   4.00  4/20/2016   EUR    71.33
Goldman Sachs & Co Wertpa  23.00  6/22/2016   EUR    70.81
Deutsche Bank AG            4.50  6/21/2016   EUR    70.60
LBBW                        2.60  8/23/2019   EUR    65.04
LBBW                        2.60  8/23/2019   EUR    67.41
DZ Bank AG Deutsche Zentr   8.50  8/26/2016   EUR    66.31
Vontobel Financial Produc  10.00  9/23/2016   EUR    73.96
Bayerische Landesbank       3.10  11/4/2016   EUR    62.88
Credit Suisse AG/Nassau     5.38  10/9/2017   CHF    65.68
Societe Generale Effekten   7.17 10/10/2016   EUR    70.65
Vontobel Financial Produc  11.50 12/23/2016   EUR    67.47
LBBW                        5.50  8/26/2016   EUR    74.01
HSBC Trinkaus & Burkhardt   8.20  6/23/2017   EUR    70.40
Credit Suisse AG/Nassau     8.25   9/5/2016   CHF    78.62
BNP Paribas Emissions- un   3.45  6/30/2022   EUR    70.57
HSBC Trinkaus & Burkhardt   6.00  12/6/2016   EUR    38.10
Goldman Sachs & Co Wertpa  19.00  5/25/2016   EUR    39.98
Leonteq Securities AG      13.00  11/4/2016   CHF    78.58
DekaBank Deutsche Girozen   9.80 12/22/2016   EUR    75.14
Leonteq Securities AG/Gue   9.07   5/3/2016   GBP    60.92
DekaBank Deutsche Girozen   7.15 10/27/2017   EUR    46.02
Banque Cantonale Vaudoise   3.50  6/12/2017   USD    58.53
UBS AG/London               5.00 12/22/2017   EUR    72.12
Banque Cantonale Vaudoise   8.40  2/29/2016   EUR    71.26
Notenstein La Roche Priva   4.10 10/10/2018   CHF    66.51
Bank Julius Baer & Co Ltd   5.70   4/4/2016   EUR    73.70
HSBC Trinkaus & Burkhardt   5.00 11/14/2016   EUR    53.10
Notenstein La Roche Priva   7.25  4/22/2016   CHF    65.56
Raiffeisen Centrobank AG    2.40 12/19/2016   EUR    37.54
DZ Bank AG Deutsche Zentr   7.10  3/21/2016   EUR    77.94
DZ Bank AG Deutsche Zentr   6.00  3/21/2016   EUR    64.73
Deutsche Bank AG            5.20 12/20/2016   EUR    58.50
Commerzbank AG              5.80  10/8/2017   EUR    66.97
Bank Julius Baer & Co Ltd  10.25  3/18/2016   USD    73.65
Bank Julius Baer & Co Ltd  10.60  3/18/2016   EUR    73.65
Vontobel Financial Produc   9.00  4/22/2016   EUR    64.32
LBBW                        4.50  6/24/2016   EUR    62.82
Deutsche Bank AG            8.20  5/25/2016   EUR    61.70
Deutsche Bank AG            5.20  5/25/2016   EUR    63.10
Credit Suisse AG/Nassau     3.50  6/12/2017   CHF    70.85
Goldman Sachs & Co Wertpa  23.00  5/25/2016   EUR    55.02
BNP Paribas Emissions- un  16.00  3/24/2016   EUR    62.14
HSBC Trinkaus & Burkhardt  13.30  2/26/2016   EUR    72.54
BNP Paribas Emissions- un   6.00 12/22/2016   EUR    71.71
Banque Cantonale Vaudoise   6.40   8/5/2016   CHF    60.46
Goldman Sachs & Co Wertpa  15.00  9/21/2016   EUR    72.82
Goldman Sachs & Co Wertpa   8.00  4/20/2016   EUR    68.10
Credit Suisse AG/Nassau     7.25 11/11/2016   CHF    69.42
HSBC Trinkaus & Burkhardt  12.00  6/24/2016   EUR    42.83
Bank Julius Baer & Co Ltd   8.70  11/3/2016   CHF    72.40
Credit Suisse AG/Nassau     7.25  6/14/2017   CHF    61.21
Vontobel Financial Produc   9.00 12/23/2016   EUR    72.72
Driver & Bengsch AG         8.50 12/31/2027   EUR     0.00
Lehman Brothers Treasury   10.44 11/22/2008   CHF     3.09
Lehman Brothers Treasury    1.50 10/25/2011   EUR     3.09
KPNQwest NV                 8.88   2/1/2008   EUR     0.53
Lehman Brothers Treasury    4.25  3/13/2021   EUR     3.09
Lehman Brothers Treasury    4.10  5/20/2009   USD     3.09
Lehman Brothers Treasury    1.95  11/4/2013   EUR     3.09
Lehman Brothers Treasury    6.00 10/30/2012   USD     3.09
Lehman Brothers Treasury    7.00 10/22/2010   EUR     3.09
Immigon Portfolioabbau AG   3.50  5/23/2022   EUR    59.25
Lehman Brothers Treasury    7.50  5/30/2010   AUD     3.09
Lehman Brothers Treasury    5.50   7/8/2013   EUR     3.09
Lehman Brothers Treasury   11.00   7/4/2011   USD     3.09
Deutsche Bank AG            3.20 10/26/2016   EUR    68.50
Deutsche Bank AG            3.20  9/20/2016   EUR    62.40
Deutsche Bank AG            3.20 12/20/2016   EUR    65.30
Deutsche Bank AG            3.20 11/23/2016   EUR    60.60
Deutsche Bank AG            3.20 12/20/2016   EUR    63.00
Deutsche Bank AG            3.20 10/26/2016   EUR    65.90
Deutsche Bank AG            3.20 10/26/2016   EUR    62.60
Deutsche Bank AG            3.20 10/26/2016   EUR    64.90
Deutsche Bank AG            3.20 11/23/2016   EUR    62.80
Deutsche Bank AG            3.20 12/20/2016   EUR    71.30
Deutsche Bank AG            3.20 11/23/2016   EUR    66.00
Deutsche Bank AG            3.20 11/23/2016   EUR    71.30
Deutsche Bank AG            3.20 10/26/2016   EUR    69.70
Deutsche Bank AG            3.20  7/20/2016   EUR    70.00
Deutsche Bank AG            3.20  6/21/2016   EUR    70.10
Deutsche Bank AG            3.20  9/20/2016   EUR    69.70
Deutsche Bank AG            3.20 11/23/2016   EUR    69.70
Deutsche Bank AG            3.20 12/20/2016   EUR    69.70
Deutsche Bank AG            3.20  8/24/2016   EUR    69.80
Deutsche Bank AG            3.20  9/20/2016   EUR    52.10
Deutsche Bank AG            3.20 12/20/2016   EUR    69.20
Deutsche Bank AG            3.20 10/26/2016   EUR    52.40
Deutsche Bank AG            3.20  9/20/2016   EUR    54.70
Deutsche Bank AG            3.20 10/26/2016   EUR    69.00
Deutsche Bank AG            3.20 12/20/2016   EUR    60.90
Deutsche Bank AG            3.20 10/26/2016   EUR    54.90
Deutsche Bank AG            3.20  6/21/2016   EUR    56.90
Deutsche Bank AG            3.20  8/24/2016   EUR    60.80
Deutsche Bank AG            3.20 10/26/2016   EUR    57.80
Deutsche Bank AG            3.20 11/23/2016   EUR    60.80
Deutsche Bank AG            3.20 11/23/2016   EUR    69.10
Deutsche Bank AG            3.20 12/20/2016   EUR    58.10
Deutsche Bank AG            3.20  6/21/2016   EUR    68.30
Deutsche Bank AG            3.20  7/20/2016   EUR    51.60
Deutsche Bank AG            3.20 11/23/2016   EUR    52.60
Deutsche Bank AG            3.20  9/20/2016   EUR    57.80
Deutsche Bank AG            3.20 10/26/2016   EUR    60.80
Deutsche Bank AG            3.20  8/24/2016   EUR    57.30
Deutsche Bank AG            3.20 10/26/2016   EUR    57.90
Deutsche Bank AG            3.20  8/24/2016   EUR    57.70
Deutsche Bank AG            3.20  6/21/2016   EUR    60.70
Deutsche Bank AG            3.20 11/23/2016   EUR    58.00
Deutsche Bank AG            3.20  9/20/2016   EUR    68.80
Deutsche Bank AG            3.20 11/23/2016   EUR    58.00
Deutsche Bank AG            3.20  8/24/2016   EUR    51.90
Deutsche Bank AG            4.20 10/26/2016   EUR    70.40
Deutsche Bank AG            4.20 12/20/2016   EUR    70.50
Deutsche Bank AG            4.20  9/20/2016   EUR    69.10
Deutsche Bank AG            4.20 10/26/2016   EUR    63.30
Deutsche Bank AG            4.20 11/23/2016   EUR    70.50
Deutsche Bank AG            4.20 10/26/2016   EUR    66.60
Deutsche Bank AG            4.20 10/26/2016   EUR    69.20
Deutsche Bank AG            4.20 11/23/2016   EUR    61.40
Deutsche Bank AG            4.20  9/20/2016   EUR    62.90
Deutsche Bank AG            4.20  7/20/2016   EUR    78.90
Deutsche Bank AG            8.20 10/26/2016   EUR    51.30
Deutsche Bank AG            8.20 12/20/2016   EUR    65.60
Deutsche Bank AG            4.20 10/26/2016   EUR    69.70
Deutsche Bank AG            8.20 10/26/2016   EUR    76.50
Deutsche Bank AG            8.20 11/23/2016   EUR    65.00
Deutsche Bank AG            8.20 10/26/2016   EUR    56.20
Deutsche Bank AG            8.20 12/20/2016   EUR    65.90
Deutsche Bank AG            8.20  9/20/2016   EUR    72.90
Deutsche Bank AG            8.20 10/26/2016   EUR    59.90
Deutsche Bank AG            8.20 11/23/2016   EUR    73.50
Deutsche Bank AG            8.20 12/20/2016   EUR    57.20
Deutsche Bank AG            8.20 11/23/2016   EUR    56.70
Deutsche Bank AG            4.20 12/20/2016   EUR    56.20
Deutsche Bank AG            4.20 10/26/2016   EUR    58.60
Deutsche Bank AG            8.20  6/21/2016   EUR    74.20
Deutsche Bank AG            8.20  6/21/2016   EUR    66.80
Deutsche Bank AG            8.20  9/20/2016   EUR    63.80
Deutsche Bank AG            8.20 10/26/2016   EUR    64.50
Deutsche Bank AG            8.20  9/20/2016   EUR    66.00
Deutsche Bank AG            8.20  6/21/2016   EUR    70.40
Deutsche Bank AG            4.20 11/23/2016   EUR    55.90
Deutsche Bank AG            8.20 10/26/2016   EUR    73.70
Deutsche Bank AG            8.20 10/26/2016   EUR    67.20
Deutsche Bank AG            4.20 10/26/2016   EUR    55.60
Deutsche Bank AG            8.20 12/20/2016   EUR    61.00
Deutsche Bank AG            4.20  9/20/2016   EUR    52.70
Deutsche Bank AG            8.20  9/20/2016   EUR    72.30
Deutsche Bank AG            4.20 12/20/2016   EUR    53.60
Deutsche Bank AG            8.20  6/21/2016   EUR    57.10
Deutsche Bank AG            4.20 12/20/2016   EUR    58.90
Commerzbank AG              6.00  6/23/2016   EUR    64.90
Notenstein La Roche Priva   3.00  7/17/2019   CHF    74.74
Commerzbank AG              9.00  3/24/2016   EUR    64.43
Commerzbank AG              9.50  6/23/2016   EUR    51.62
DZ Bank AG Deutsche Zentr   7.20  6/20/2016   EUR    57.04
Commerzbank AG             10.50  6/23/2016   EUR    64.39
Commerzbank AG             10.50  4/21/2016   EUR    62.46
Commerzbank AG              5.50  6/23/2016   EUR    47.32
DZ Bank AG Deutsche Zentr   7.80  3/21/2016   EUR    57.71
DZ Bank AG Deutsche Zentr   6.20  9/19/2016   EUR    56.37
DZ Bank AG Deutsche Zentr   7.90  3/21/2016   EUR    50.58
DZ Bank AG Deutsche Zentr   6.70  6/20/2016   EUR    52.67
HSBC Trinkaus & Burkhardt   3.85  7/22/2016   EUR    59.23
UBS AG                      5.50   7/8/2016   EUR    76.44
UBS AG                      5.00   7/8/2016   EUR    62.84
UBS AG                      8.50   7/8/2016   EUR    57.44
UBS AG                      4.80   7/8/2016   EUR    77.14
UBS AG                      7.00   7/8/2016   EUR    73.84
Vontobel Financial Produc   7.25  7/22/2016   EUR    63.02
Vontobel Financial Produc   6.50  7/22/2016   EUR    73.06
Deutsche Bank AG            3.20  6/21/2016   EUR    78.00
Deutsche Bank AG            3.20  6/21/2016   EUR    75.20
Deutsche Bank AG            3.20  7/20/2016   EUR    75.30
Deutsche Bank AG            3.20  9/20/2016   EUR    78.00
Deutsche Bank AG            3.20 10/26/2016   EUR    78.10
Deutsche Bank AG            3.20 11/23/2016   EUR    75.60
Deutsche Bank AG            3.20  6/21/2016   EUR    78.40
Deutsche Bank AG            3.20  9/20/2016   EUR    78.80
Deutsche Bank AG            3.20 11/23/2016   EUR    79.10
Vontobel Financial Produc   7.55  6/17/2016   EUR    69.87
Zurcher Kantonalbank Fina   7.50  7/14/2016   CHF    75.78
Societe Generale Effekten   9.02   8/8/2016   EUR    60.24
UniCredit Bank AG           5.00  6/23/2016   EUR    70.01
UniCredit Bank AG           4.65  6/23/2016   EUR    55.27
UniCredit Bank AG           4.15  6/23/2016   EUR    70.61
UniCredit Bank AG           4.75  6/23/2016   EUR    79.65
UniCredit Bank AG           4.70  6/23/2016   EUR    54.98
UniCredit Bank AG           4.50  6/23/2016   EUR    72.34
UniCredit Bank AG           4.45  6/23/2016   EUR    78.14
UniCredit Bank AG           4.00  6/23/2016   EUR    71.98
UniCredit Bank AG           4.30  6/23/2016   EUR    63.23
UniCredit Bank AG           4.80  6/23/2016   EUR    71.20
UniCredit Bank AG           4.50  6/23/2016   EUR    56.09
UniCredit Bank AG           4.05  6/23/2016   EUR    66.32
UniCredit Bank AG           4.10  6/23/2016   EUR    79.06
UniCredit Bank AG           4.40  6/23/2016   EUR    78.94
UniCredit Bank AG           4.35  6/23/2016   EUR    56.93
UniCredit Bank AG           4.80  6/23/2016   EUR    54.48
UniCredit Bank AG           4.00  6/23/2016   EUR    79.49
UniCredit Bank AG           4.50  6/23/2016   EUR    74.93
UniCredit Bank AG           4.05  6/23/2016   EUR    74.10
UniCredit Bank AG           4.30  6/23/2016   EUR    80.60
Credit Suisse AG/Nassau     6.13  7/17/2017   CHF    73.20
UniCredit Bank AG           4.55  6/23/2016   EUR    55.81
UniCredit Bank AG           4.45  6/23/2016   EUR    75.81
UniCredit Bank AG           4.30  6/23/2016   EUR    57.22
UniCredit Bank AG           4.10  6/23/2016   EUR    58.40
UniCredit Bank AG           4.35  6/23/2016   EUR    79.75
UniCredit Bank AG           4.25  6/23/2016   EUR    63.82
UniCredit Bank AG           4.50  6/23/2016   EUR    59.90
UniCredit Bank AG           5.00  6/23/2016   EUR    78.31
UniCredit Bank AG           4.40  6/23/2016   EUR    76.74
UniCredit Bank AG           4.50  6/23/2016   EUR    78.29
UniCredit Bank AG           4.10  6/23/2016   EUR    73.29
UniCredit Bank AG           4.00  6/23/2016   EUR    74.92
UniCredit Bank AG           4.40  6/23/2016   EUR    56.65
Commerzbank AG              6.75  6/23/2016   EUR    60.20
Commerzbank AG              5.50  6/23/2016   EUR    63.28
Commerzbank AG              9.75  6/23/2016   EUR    58.58
Commerzbank AG              8.00  6/23/2016   EUR    74.83
Commerzbank AG              7.75  6/23/2016   EUR    73.78
Commerzbank AG              7.00  6/23/2016   EUR    42.03
Commerzbank AG             11.00  6/23/2016   EUR    39.47
DZ Bank AG Deutsche Zentr   8.90  7/20/2016   EUR    64.56
DZ Bank AG Deutsche Zentr   8.25  6/24/2016   EUR    50.73
Bank Julius Baer & Co Ltd   7.30   8/2/2016   CHF    46.30
Deutsche Bank AG            5.50  6/21/2016   EUR    69.58
Deutsche Bank AG            7.50 12/20/2016   EUR    73.88
Deutsche Bank AG            7.50  6/21/2016   EUR    70.74
Deutsche Bank AG            5.50  3/22/2016   EUR    74.75
Deutsche Bank AG            5.50  6/21/2016   EUR    72.95
Deutsche Bank AG            7.50  6/21/2016   EUR    73.63
Deutsche Bank AG            7.50  9/20/2016   EUR    75.26
Deutsche Bank AG            5.50 12/20/2016   EUR    75.11
Deutsche Bank AG            7.50  6/21/2016   EUR    72.18
Deutsche Bank AG            5.50  6/21/2016   EUR    71.50
Deutsche Bank AG            5.50  9/20/2016   EUR    72.71
Deutsche Bank AG            7.50  9/20/2016   EUR    73.89
Deutsche Bank AG            5.50  9/20/2016   EUR    72.71
Deutsche Bank AG            5.50 12/20/2016   EUR    73.88
Deutsche Bank AG            5.50  3/22/2016   EUR    72.94
DZ Bank AG Deutsche Zentr   6.80  9/23/2016   EUR    73.31
DZ Bank AG Deutsche Zentr   8.90  6/24/2016   EUR    67.76
DZ Bank AG Deutsche Zentr  11.40  9/23/2016   EUR    66.78
DZ Bank AG Deutsche Zentr   8.90  9/23/2016   EUR    64.72
DZ Bank AG Deutsche Zentr   5.50  9/23/2016   EUR    66.30
DZ Bank AG Deutsche Zentr   7.40  6/24/2016   EUR    71.73
DZ Bank AG Deutsche Zentr   5.60  6/24/2016   EUR    65.40
DZ Bank AG Deutsche Zentr   5.90  9/23/2016   EUR    75.34
DZ Bank AG Deutsche Zentr   6.30  3/29/2016   EUR    76.36
DZ Bank AG Deutsche Zentr   4.90  3/29/2016   EUR    75.77
DZ Bank AG Deutsche Zentr   8.20  9/23/2016   EUR    70.01
Vontobel Financial Produc   6.30  8/26/2016   EUR    52.65
Vontobel Financial Produc   6.25  3/21/2016   EUR    75.04
Goldman Sachs & Co Wertpa   7.00  6/21/2017   EUR    75.01
Goldman Sachs & Co Wertpa  12.00  7/20/2016   EUR    63.58
Goldman Sachs & Co Wertpa  11.00  9/21/2016   EUR    64.69
Goldman Sachs & Co Wertpa   9.00  3/22/2017   EUR    66.97
Goldman Sachs & Co Wertpa   9.00  6/21/2017   EUR    67.47
Goldman Sachs & Co Wertpa   3.00  5/25/2016   EUR    51.21
Goldman Sachs & Co Wertpa   4.00  3/22/2017   EUR    54.24
Goldman Sachs & Co Wertpa  11.00  9/21/2016   EUR    57.17
Goldman Sachs & Co Wertpa   6.00  5/25/2016   EUR    52.02
Goldman Sachs & Co Wertpa   6.00  9/21/2016   EUR    53.73
Vontobel Financial Produc   6.50  7/22/2016   EUR    57.20
Goldman Sachs & Co Wertpa  10.00  3/22/2017   EUR    74.47
Goldman Sachs & Co Wertpa  10.00  6/21/2017   EUR    75.61
Goldman Sachs & Co Wertpa  19.00  7/20/2016   EUR    72.39
Goldman Sachs & Co Wertpa  21.00  7/20/2016   EUR    69.14
Goldman Sachs & Co Wertpa   4.00  8/24/2016   EUR    64.63
Goldman Sachs & Co Wertpa  13.00  3/22/2017   EUR    73.61
Goldman Sachs & Co Wertpa   7.00  7/20/2016   EUR    76.15
Goldman Sachs & Co Wertpa  21.00  8/24/2016   EUR    74.02
Goldman Sachs & Co Wertpa   7.00  4/20/2016   EUR    58.30
Goldman Sachs & Co Wertpa   6.00  6/22/2016   EUR    62.12
Goldman Sachs & Co Wertpa   6.00  8/24/2016   EUR    62.70
Goldman Sachs & Co Wertpa   8.00  7/20/2016   EUR    70.27
Goldman Sachs & Co Wertpa  13.00  7/20/2016   EUR    53.63
HSBC Trinkaus & Burkhardt  11.80  6/24/2016   EUR    70.38
HSBC Trinkaus & Burkhardt   7.30  9/23/2016   EUR    44.16
HSBC Trinkaus & Burkhardt  12.40  6/24/2016   EUR    66.09
HSBC Trinkaus & Burkhardt   7.80  6/24/2016   EUR    71.08
HSBC Trinkaus & Burkhardt  11.60  9/23/2016   EUR    67.60
HSBC Trinkaus & Burkhardt  11.30 12/23/2016   EUR    68.28
HSBC Trinkaus & Burkhardt  10.30 12/23/2016   EUR    69.23
HSBC Trinkaus & Burkhardt   7.20 12/23/2016   EUR    72.51
HSBC Trinkaus & Burkhardt   8.90  4/22/2016   EUR    70.07
HSBC Trinkaus & Burkhardt   7.80  2/26/2016   EUR    73.72
HSBC Trinkaus & Burkhardt   7.60  7/22/2016   EUR    74.05
HSBC Trinkaus & Burkhardt   9.10 12/23/2016   EUR    73.74
HSBC Trinkaus & Burkhardt  10.00  9/23/2016   EUR    64.74
HSBC Trinkaus & Burkhardt  10.20  4/22/2016   EUR    64.82
HSBC Trinkaus & Burkhardt   9.10  7/22/2016   EUR    65.36
HSBC Trinkaus & Burkhardt   6.70  3/24/2017   EUR    59.25
HSBC Trinkaus & Burkhardt   9.30  9/23/2016   EUR    69.98
HSBC Trinkaus & Burkhardt   9.60 12/23/2016   EUR    69.77
HSBC Trinkaus & Burkhardt   8.40  2/26/2016   EUR    74.28
HSBC Trinkaus & Burkhardt   6.40 12/23/2016   EUR    74.17
HSBC Trinkaus & Burkhardt   9.30 12/23/2016   EUR    73.54
HSBC Trinkaus & Burkhardt  11.70  2/26/2016   EUR    68.86
HSBC Trinkaus & Burkhardt   7.40  3/24/2017   EUR    59.45
HSBC Trinkaus & Burkhardt   9.70  7/22/2016   EUR    56.65
Credit Suisse AG/Nassau     6.30   1/3/2017   CHF    57.64
Deutsche Bank AG            3.20  7/20/2016   EUR    71.50
Deutsche Bank AG            3.20  8/24/2016   EUR    68.70
Deutsche Bank AG            3.20 11/23/2016   EUR    55.20
Deutsche Bank AG            3.20 12/20/2016   EUR    55.40
Deutsche Bank AG            3.20  9/20/2016   EUR    57.50
Deutsche Bank AG            3.20 12/20/2016   EUR    58.00
Deutsche Bank AG            3.20  8/24/2016   EUR    54.50
Deutsche Bank AG            3.20 12/20/2016   EUR    72.00
Deutsche Bank AG            3.20 12/20/2016   EUR    52.80
Deutsche Bank AG            3.20  7/20/2016   EUR    60.70
Deutsche Bank AG            3.20  7/20/2016   EUR    57.70
Deutsche Bank AG            3.20 10/26/2016   EUR    71.80
Deutsche Bank AG            3.20  7/20/2016   EUR    68.50
Deutsche Bank AG            3.20  9/20/2016   EUR    60.80
Deutsche Bank AG            3.20  7/20/2016   EUR    57.10
Deutsche Bank AG            3.20  6/21/2016   EUR    71.40
Deutsche Bank AG            3.20 11/23/2016   EUR    71.90
Deutsche Bank AG            3.20  9/20/2016   EUR    71.70
Deutsche Bank AG            3.20  7/20/2016   EUR    54.20
Deutsche Bank AG            3.20  8/24/2016   EUR    71.70
Deutsche Bank AG            3.20  6/21/2016   EUR    57.60
Deutsche Bank AG            4.20 11/23/2016   EUR    76.40
Deutsche Bank AG            4.20  9/20/2016   EUR    70.30
Deutsche Bank AG            4.20 10/26/2016   EUR    78.80
Deutsche Bank AG            4.20 12/20/2016   EUR    69.50
Deutsche Bank AG            4.20  8/24/2016   EUR    79.20
Deutsche Bank AG            4.20  6/21/2016   EUR    70.40
Deutsche Bank AG            4.20  9/20/2016   EUR    60.70
Deutsche Bank AG            4.20 10/26/2016   EUR    61.10
Deutsche Bank AG            4.20 11/23/2016   EUR    63.50
Deutsche Bank AG            4.20 11/23/2016   EUR    69.40
Deutsche Bank AG            4.20 12/20/2016   EUR    61.60
Deutsche Bank AG            4.20 12/20/2016   EUR    63.80
Deutsche Bank AG            4.20 11/23/2016   EUR    66.80
Deutsche Bank AG            4.20 11/23/2016   EUR    78.90
Deutsche Bank AG            4.20 10/26/2016   EUR    76.20
Deutsche Bank AG            8.20  6/21/2016   EUR    64.50
Deutsche Bank AG            8.20 10/26/2016   EUR    64.80
Deutsche Bank AG            8.20 12/20/2016   EUR    74.90
Deutsche Bank AG            4.20  6/21/2016   EUR    57.90
Deutsche Bank AG            8.20 11/23/2016   EUR    67.70
Deutsche Bank AG            8.20 10/26/2016   EUR    66.60
Deutsche Bank AG            8.20  9/20/2016   EUR    55.50
Deutsche Bank AG            8.20  9/20/2016   EUR    68.10
Deutsche Bank AG            4.20  9/20/2016   EUR    55.30
Deutsche Bank AG            8.20  6/21/2016   EUR    53.80
Deutsche Bank AG            4.20 11/23/2016   EUR    53.30
Deutsche Bank AG            8.20 10/26/2016   EUR    68.70
Deutsche Bank AG            8.20 11/23/2016   EUR    65.40
Deutsche Bank AG            8.20 12/20/2016   EUR    68.30
Deutsche Bank AG            8.20 11/23/2016   EUR    60.50
Deutsche Bank AG            8.20 12/20/2016   EUR    52.50
Deutsche Bank AG            8.20 11/23/2016   EUR    67.10
Deutsche Bank AG            8.20 11/23/2016   EUR    74.30
Deutsche Bank AG            8.20  9/20/2016   EUR    50.50
Deutsche Bank AG            8.20 12/20/2016   EUR    74.10
Deutsche Bank AG            8.20 12/20/2016   EUR    67.50
Deutsche Bank AG            4.20 10/26/2016   EUR    53.10
Deutsche Bank AG            4.20 11/23/2016   EUR    69.80
Deutsche Bank AG            8.20 12/20/2016   EUR    69.60
Deutsche Bank AG            8.20 11/23/2016   EUR    69.10
Deutsche Bank AG            8.20 10/26/2016   EUR    73.00
Deutsche Bank AG            4.20 11/23/2016   EUR    58.70
Deutsche Bank AG            4.20  9/20/2016   EUR    58.40
Deutsche Bank AG            8.20  9/20/2016   EUR    59.10
Deutsche Bank AG            8.20 11/23/2016   EUR    51.90
Vontobel Financial Produc   8.35  7/22/2016   EUR    77.59
Deutsche Bank AG            3.18   7/6/2016   EUR    60.10
Commerzbank AG             10.50  6/23/2016   EUR    51.31
Commerzbank AG              8.00  6/23/2016   EUR    69.55
Commerzbank AG              7.50  6/23/2016   EUR    65.00
Commerzbank AG              9.00  6/23/2016   EUR    54.39
DZ Bank AG Deutsche Zentr   8.60  3/21/2016   EUR    55.90
DZ Bank AG Deutsche Zentr   8.00  6/20/2016   EUR    55.53
Commerzbank AG              8.50  6/23/2016   EUR    63.52
DZ Bank AG Deutsche Zentr   5.70  9/19/2016   EUR    57.82
DZ Bank AG Deutsche Zentr   6.70  9/19/2016   EUR    54.92
DZ Bank AG Deutsche Zentr   5.30  6/20/2016   EUR    54.23
DZ Bank AG Deutsche Zentr   7.40  6/20/2016   EUR    51.88
UBS AG                      5.50 10/14/2016   EUR    71.93
UBS AG                      6.00   7/8/2016   EUR    73.41
UBS AG                      5.30   7/8/2016   EUR    62.65
UBS AG                      5.50 10/14/2016   EUR    76.10
UBS AG                      6.50   7/8/2016   EUR    60.85
Vontobel Financial Produc   6.00  7/22/2016   EUR    72.20
Vontobel Financial Produc   6.50  7/22/2016   EUR    74.90
Vontobel Financial Produc   8.45  7/22/2016   EUR    72.94
Deutsche Bank AG            3.20  7/20/2016   EUR    78.00
Deutsche Bank AG            3.20  8/24/2016   EUR    78.00
Deutsche Bank AG            3.20  8/24/2016   EUR    75.40
Deutsche Bank AG            3.20  9/20/2016   EUR    75.40
Deutsche Bank AG            3.20 10/26/2016   EUR    75.60
Deutsche Bank AG            3.20 11/23/2016   EUR    78.10
Deutsche Bank AG            3.20 12/20/2016   EUR    78.20
Deutsche Bank AG            3.20 12/20/2016   EUR    75.70
Deutsche Bank AG            3.20  7/20/2016   EUR    78.50
Deutsche Bank AG            3.20  8/24/2016   EUR    78.70
Deutsche Bank AG            3.20 10/26/2016   EUR    78.90
Deutsche Bank AG            3.20 12/20/2016   EUR    79.20
Vontobel Financial Produc   8.95  6/13/2016   EUR    67.12
Leonteq Securities AG/Gue   5.14   7/6/2016   EUR    72.40
Societe Generale Effekten   5.21   8/8/2016   EUR    59.87
UniCredit Bank AG           7.00  6/23/2016   EUR    68.23
UniCredit Bank AG           4.00  6/23/2016   EUR    59.01
UniCredit Bank AG           4.10  6/23/2016   EUR    71.29
UniCredit Bank AG           5.00  6/23/2016   EUR    58.49
UniCredit Bank AG           4.20  6/23/2016   EUR    64.42
UniCredit Bank AG           4.25  6/23/2016   EUR    78.66
UniCredit Bank AG           4.85  6/23/2016   EUR    54.22
UniCredit Bank AG           4.45  6/23/2016   EUR    56.36
UniCredit Bank AG           4.00  6/23/2016   EUR    58.81
UniCredit Bank AG           4.35  6/23/2016   EUR    62.64
UniCredit Bank AG           4.05  6/23/2016   EUR    58.70
UniCredit Bank AG           4.15  6/23/2016   EUR    65.05
UniCredit Bank AG           4.50  6/23/2016   EUR    77.35
UniCredit Bank AG           4.20  6/23/2016   EUR    57.80
UniCredit Bank AG           4.25  6/23/2016   EUR    81.42
UniCredit Bank AG           6.00  6/23/2016   EUR    69.11
UniCredit Bank AG           4.20  6/23/2016   EUR    69.92
UniCredit Bank AG           4.25  6/23/2016   EUR    69.25
UniCredit Bank AG           5.50  6/23/2016   EUR    57.20
UniCredit Bank AG           4.55  6/23/2016   EUR    74.97
UniCredit Bank AG           4.10  6/23/2016   EUR    65.68
UniCredit Bank AG           4.00  6/23/2016   EUR    66.97
UniCredit Bank AG           4.60  6/23/2016   EUR    74.29
UniCredit Bank AG           4.15  6/23/2016   EUR    58.10
UniCredit Bank AG           4.00  6/23/2016   EUR    61.35
UniCredit Bank AG           4.90  6/23/2016   EUR    53.97
UniCredit Bank AG           4.75  6/23/2016   EUR    54.74
UniCredit Bank AG           4.60  6/23/2016   EUR    55.54
UniCredit Bank AG           4.60  6/23/2016   EUR    77.89
UniCredit Bank AG           4.25  6/23/2016   EUR    57.51
UniCredit Bank AG           4.30  6/23/2016   EUR    68.60
Credit Suisse AG/London     5.00  7/13/2016   CHF    69.29
Commerzbank AG             10.75  6/23/2016   EUR    75.58
Commerzbank AG              8.75  6/23/2016   EUR    57.97
Commerzbank AG              7.50  6/23/2016   EUR    60.78
Commerzbank AG              8.75  6/23/2016   EUR    73.16
Commerzbank AG             10.25  6/23/2016   EUR    72.08
Commerzbank AG             10.00  6/23/2016   EUR    71.10
Commerzbank AG              5.25  6/23/2016   EUR    43.67
Commerzbank AG              9.00  6/23/2016   EUR    40.67
DZ Bank AG Deutsche Zentr   5.90  7/20/2016   EUR    57.74
DZ Bank AG Deutsche Zentr   6.80  7/20/2016   EUR    53.24
DZ Bank AG Deutsche Zentr   6.75  9/23/2016   EUR    51.90
UBS AG                     11.02  3/17/2016   USD    22.02
UBS AG                      9.76  3/30/2016   USD    23.71
Zurcher Kantonalbank Fina   7.52  7/29/2016   CHF    61.09
Bank Julius Baer & Co Ltd   9.00   8/2/2016   EUR    53.85
Deutsche Bank AG            7.50 12/20/2016   EUR    74.18
Deutsche Bank AG            7.50  3/22/2016   EUR    61.00
Deutsche Bank AG            5.50  3/22/2016   EUR    74.75
Deutsche Bank AG            7.50  6/21/2016   EUR    73.63
Deutsche Bank AG            5.50  6/21/2016   EUR    72.95
Deutsche Bank AG            7.50  9/20/2016   EUR    75.26
Deutsche Bank AG            5.50  9/20/2016   EUR    74.08
Deutsche Bank AG            5.50 12/20/2016   EUR    75.11
Deutsche Bank AG            5.50 12/20/2016   EUR    54.80
Deutsche Bank AG            5.50  3/22/2016   EUR    72.94
Deutsche Bank AG            7.50  3/22/2016   EUR    73.12
Deutsche Bank AG            5.50  6/21/2016   EUR    71.50
Deutsche Bank AG            7.50  6/21/2016   EUR    72.18
Deutsche Bank AG            5.50  9/20/2016   EUR    72.71
Deutsche Bank AG            7.50  9/20/2016   EUR    73.89
Deutsche Bank AG            7.50  9/20/2016   EUR    67.22
Deutsche Bank AG            7.50  9/20/2016   EUR    63.15
Deutsche Bank AG            7.50  9/20/2016   EUR    54.32
DZ Bank AG Deutsche Zentr   8.50  9/23/2016   EUR    69.59
DZ Bank AG Deutsche Zentr   6.00  9/23/2016   EUR    72.59
DZ Bank AG Deutsche Zentr   6.90  9/23/2016   EUR    72.86
DZ Bank AG Deutsche Zentr   6.30  6/24/2016   EUR    55.55
DZ Bank AG Deutsche Zentr   9.00  9/23/2016   EUR    56.45
Goldman Sachs & Co Wertpa   8.00  6/21/2017   EUR    76.30
Goldman Sachs & Co Wertpa   7.00  3/22/2017   EUR    74.98
Goldman Sachs & Co Wertpa   9.00  3/22/2017   EUR    66.97
Goldman Sachs & Co Wertpa   5.00  4/20/2016   EUR    51.82
EFG International Finance   6.21  7/22/2019   EUR    70.70
Goldman Sachs & Co Wertpa   8.00  8/24/2016   EUR    76.18
Goldman Sachs & Co Wertpa  12.00  3/22/2017   EUR    72.84
Goldman Sachs & Co Wertpa  11.00  6/21/2017   EUR    73.25
Goldman Sachs & Co Wertpa  25.00  3/23/2016   EUR    68.82
Goldman Sachs & Co Wertpa  15.00  5/25/2016   EUR    75.02
Goldman Sachs & Co Wertpa   6.00  3/22/2017   EUR    79.11
Goldman Sachs & Co Wertpa   6.00  5/25/2016   EUR    61.82
Goldman Sachs & Co Wertpa   8.00  5/25/2016   EUR    59.08
Goldman Sachs & Co Wertpa   6.00  7/20/2016   EUR    62.40
Goldman Sachs & Co Wertpa   8.00  8/24/2016   EUR    70.83
Goldman Sachs & Co Wertpa  24.00  3/23/2016   EUR    46.58
Goldman Sachs & Co Wertpa   6.00  4/20/2016   EUR    57.99
HSBC Trinkaus & Burkhardt   8.40  9/23/2016   EUR    71.74
HSBC Trinkaus & Burkhardt   7.90  9/23/2016   EUR    71.32
HSBC Trinkaus & Burkhardt   8.90  7/22/2016   EUR    69.83
HSBC Trinkaus & Burkhardt   7.20  4/22/2016   EUR    74.56
HSBC Trinkaus & Burkhardt   8.00 12/23/2016   EUR    75.09
HSBC Trinkaus & Burkhardt   8.50  4/22/2016   EUR    74.09
HSBC Trinkaus & Burkhardt   8.20  7/22/2016   EUR    74.72
HSBC Trinkaus & Burkhardt   7.10  3/24/2017   EUR    67.43
HSBC Trinkaus & Burkhardt  10.40 12/23/2016   EUR    56.02
HSBC Trinkaus & Burkhardt   8.20 12/23/2016   EUR    57.28
HSBC Trinkaus & Burkhardt   8.50  7/22/2016   EUR    55.88
HSBC Trinkaus & Burkhardt  10.30 12/23/2016   EUR    74.06
HSBC Trinkaus & Burkhardt  10.80  6/24/2016   EUR    68.92
HSBC Trinkaus & Burkhardt   6.50  3/24/2017   EUR    72.44
HSBC Trinkaus & Burkhardt   7.80  4/22/2016   EUR    72.25
HSBC Trinkaus & Burkhardt   8.40  7/22/2016   EUR    70.82
HSBC Trinkaus & Burkhardt   8.20 12/23/2016   EUR    72.43
HSBC Trinkaus & Burkhardt  10.50 12/23/2016   EUR    72.43
HSBC Trinkaus & Burkhardt   7.50  3/24/2017   EUR    75.50
HSBC Trinkaus & Burkhardt  10.40  4/22/2016   EUR    71.39
HSBC Trinkaus & Burkhardt   9.40  7/22/2016   EUR    72.65
HSBC Trinkaus & Burkhardt   8.80 12/23/2016   EUR    57.89
HSBC Trinkaus & Burkhardt   6.50 12/23/2016   EUR    59.93
HSBC Trinkaus & Burkhardt   9.40  4/22/2016   EUR    54.43
Vontobel Financial Produc   8.85  6/24/2016   EUR    69.28
Vontobel Financial Produc   5.35  9/23/2016   EUR    74.11
Vontobel Financial Produc   7.70  9/23/2016   EUR    70.85
Vontobel Financial Produc   9.00  9/23/2016   EUR    69.44
Vontobel Financial Produc  12.55  6/24/2016   EUR    57.45
Notenstein La Roche Priva   5.00  8/14/2017   CHF    73.38
Vontobel Financial Produc   5.90  12/9/2016   EUR    62.01
Vontobel Financial Produc   8.70  12/9/2016   EUR    59.95
Vontobel Financial Produc  10.70  12/9/2016   EUR    58.99
Vontobel Financial Produc  10.55  6/24/2016   EUR    67.67
Vontobel Financial Produc   8.30  6/24/2016   EUR    60.37
Vontobel Financial Produc  12.70  12/9/2016   EUR    58.25
Vontobel Financial Produc  14.75  12/9/2016   EUR    57.74
Vontobel Financial Produc   7.45  9/23/2016   EUR    61.44
Leonteq Securities AG       5.20  8/14/2017   CHF    72.73
Leonteq Securities AG       8.20 11/14/2016   CHF    76.58
UBS AG/London               9.50   8/5/2016   USD    62.15
Vontobel Financial Produc   5.45  9/23/2016   EUR    70.42
UBS AG                     10.00  8/12/2016   EUR    55.60
Societe Generale Effekten   3.14   8/8/2016   EUR    64.33
DekaBank Deutsche Girozen   4.75  1/20/2017   EUR    53.67
LBBW                        3.40  9/28/2018   EUR    65.93
Credit Suisse AG/Nassau     6.00  8/18/2017   CHF    69.42
DZ Bank AG Deutsche Zentr   7.70  3/21/2016   EUR    49.64
DZ Bank AG Deutsche Zentr   4.90  9/19/2016   EUR    64.06
Commerzbank AG             11.00  7/22/2016   EUR    55.15
Commerzbank AG              8.50  7/22/2016   EUR    73.81
Commerzbank AG              6.50  7/22/2016   EUR    77.33
Commerzbank AG              5.50  7/22/2016   EUR    77.05
DZ Bank AG Deutsche Zentr   6.40  9/19/2016   EUR    52.71
Vontobel Financial Produc   7.50  8/26/2016   EUR    49.29
Vontobel Financial Produc   7.50  8/26/2016   EUR    61.60
Zurcher Kantonalbank Fina   6.00  8/18/2016   EUR    57.22
LBBW                        3.60 12/23/2016   EUR    47.04
LBBW                        3.35  2/24/2017   EUR    66.91
Bank Julius Baer & Co Ltd  12.30  8/18/2016   CHF    63.85
Bank Julius Baer & Co Ltd   6.00  8/18/2016   EUR    75.10
DZ Bank AG Deutsche Zentr   5.25  8/26/2016   EUR    72.72
DZ Bank AG Deutsche Zentr  11.00  9/23/2016   EUR    63.84
DZ Bank AG Deutsche Zentr   5.25  8/26/2016   EUR    74.78
DZ Bank AG Deutsche Zentr   6.75  8/26/2016   EUR    60.78
DZ Bank AG Deutsche Zentr   5.25  8/26/2016   EUR    75.21
Notenstein La Roche Priva   7.00  8/11/2017   CHF    61.57
Credit Suisse AG/London    10.00  8/29/2016   USD    43.96
HSBC Trinkaus & Burkhardt   3.65  9/16/2016   EUR    58.16
Credit Suisse AG/Nassau     5.00  2/20/2017   CHF    74.58
Vontobel Financial Produc  11.80  3/29/2016   EUR    48.52
Vontobel Financial Produc   6.40 12/23/2016   EUR    76.29
Vontobel Financial Produc   8.05 12/23/2016   EUR    54.13
Vontobel Financial Produc   4.45 12/23/2016   EUR    57.66
Vontobel Financial Produc   7.75 12/23/2016   EUR    64.66
Vontobel Financial Produc   5.30  8/26/2016   EUR    73.13
Vontobel Financial Produc  12.50 12/23/2016   EUR    67.79
Vontobel Financial Produc   9.50 12/23/2016   EUR    69.14
Vontobel Financial Produc   6.50 12/23/2016   EUR    70.84
Bank Julius Baer & Co Ltd  11.20  8/11/2016   USD    71.75
Zurcher Kantonalbank Fina   8.52  8/19/2016   CHF    71.39
Zurcher Kantonalbank Fina  10.28  8/19/2016   CHF    68.26
Zurcher Kantonalbank Fina   7.92  8/19/2016   EUR    59.65
Leonteq Securities AG       6.10  8/12/2016   CHF    73.26
Credit Suisse AG/London     8.00  8/19/2016   USD    56.13
Credit Suisse AG/London     7.00  2/20/2017   CHF    64.43
Vontobel Financial Produc   7.90  3/29/2016   EUR    57.18
Vontobel Financial Produc   7.60  6/24/2016   EUR    56.10
Vontobel Financial Produc   6.60  9/23/2016   EUR    57.38
Vontobel Financial Produc   9.20  9/23/2016   EUR    54.55
Vontobel Financial Produc  12.25  9/23/2016   EUR    52.61
Vontobel Financial Produc  13.95  3/29/2016   EUR    68.47
Vontobel Financial Produc   9.00  3/29/2016   EUR    73.13
Vontobel Financial Produc   8.10  6/24/2016   EUR    73.76
Vontobel Financial Produc  11.85  6/24/2016   EUR    70.15
Vontobel Financial Produc  10.00  9/23/2016   EUR    71.95
Vontobel Financial Produc   8.25 12/23/2016   EUR    73.86
Bank Julius Baer & Co Ltd   4.00  8/21/2017   CHF    75.60
Bank Julius Baer & Co Ltd   5.00  8/21/2017   CHF    74.50
DZ Bank AG Deutsche Zentr   3.45  8/25/2017   EUR    66.16
Notenstein La Roche Priva   6.40  8/14/2017   CHF    74.90
Goldman Sachs & Co Wertpa  11.00  8/24/2016   EUR    52.67
Goldman Sachs & Co Wertpa  11.00  8/24/2016   EUR    52.67
Goldman Sachs & Co Wertpa  11.00  9/21/2016   EUR    53.52
Goldman Sachs & Co Wertpa   9.00  3/22/2017   EUR    56.57
Goldman Sachs & Co Wertpa   9.00  3/22/2017   EUR    56.57
Goldman Sachs & Co Wertpa   9.00  3/22/2017   EUR    56.57
Goldman Sachs & Co Wertpa   9.00  6/21/2017   EUR    58.54
Goldman Sachs & Co Wertpa   9.00  6/21/2017   EUR    58.56
Goldman Sachs & Co Wertpa   9.00  6/21/2017   EUR    58.56
Goldman Sachs & Co Wertpa   9.00  3/23/2016   EUR    71.75
Goldman Sachs & Co Wertpa   4.00  4/20/2016   EUR    71.33
Goldman Sachs & Co Wertpa   9.00  4/20/2016   EUR    72.11
Goldman Sachs & Co Wertpa   3.00  5/25/2016   EUR    70.86
Goldman Sachs & Co Wertpa   4.00  5/25/2016   EUR    71.11
Goldman Sachs & Co Wertpa   3.00  6/22/2016   EUR    68.59
Goldman Sachs & Co Wertpa   5.00  7/20/2016   EUR    69.26
Goldman Sachs & Co Wertpa   8.00  7/20/2016   EUR    70.47
Goldman Sachs & Co Wertpa   9.00  7/20/2016   EUR    70.88
Goldman Sachs & Co Wertpa   4.00  8/24/2016   EUR    68.75
Goldman Sachs & Co Wertpa   8.00  8/24/2016   EUR    70.75
Goldman Sachs & Co Wertpa   9.00  8/24/2016   EUR    71.25
Goldman Sachs & Co Wertpa   4.00  9/21/2016   EUR    68.69
Goldman Sachs & Co Wertpa   8.00  9/21/2016   EUR    70.99
Goldman Sachs & Co Wertpa   9.00  9/21/2016   EUR    71.56
Goldman Sachs & Co Wertpa   3.00 12/21/2016   EUR    67.90
Goldman Sachs & Co Wertpa   7.00 12/21/2016   EUR    71.19
Goldman Sachs & Co Wertpa   4.00  3/22/2017   EUR    68.77
Goldman Sachs & Co Wertpa   5.00  3/22/2017   EUR    69.84
Goldman Sachs & Co Wertpa   7.00  3/22/2017   EUR    71.97
Goldman Sachs & Co Wertpa   7.00  3/22/2017   EUR    71.97
Goldman Sachs & Co Wertpa   4.00  6/21/2017   EUR    67.17
Goldman Sachs & Co Wertpa   5.00  6/21/2017   EUR    68.48
Goldman Sachs & Co Wertpa   8.00  6/21/2017   EUR    72.43
Goldman Sachs & Co Wertpa  11.00  3/23/2016   EUR    54.57
Goldman Sachs & Co Wertpa  11.00  3/23/2016   EUR    54.57
Goldman Sachs & Co Wertpa  11.00  4/20/2016   EUR    55.44
Goldman Sachs & Co Wertpa  12.00  5/25/2016   EUR    56.19
Goldman Sachs & Co Wertpa  11.00  6/22/2016   EUR    56.81
Goldman Sachs & Co Wertpa  11.00  6/22/2016   EUR    56.81
Goldman Sachs & Co Wertpa  10.00  9/21/2016   EUR    58.63
Goldman Sachs & Co Wertpa   3.00  3/22/2017   EUR    55.64
Vontobel Financial Produc   5.15  3/29/2016   EUR    75.31
Vontobel Financial Produc   8.00  6/24/2016   EUR    71.94
Vontobel Financial Produc   6.80  9/23/2016   EUR    73.23
Vontobel Financial Produc  19.20  3/29/2016   EUR    49.73
Vontobel Financial Produc  18.25  3/29/2016   EUR    58.82
Vontobel Financial Produc  11.80  9/23/2016   EUR    63.94
Vontobel Financial Produc  10.00 12/23/2016   EUR    57.61
Vontobel Financial Produc   8.10 12/23/2016   EUR    58.46
Commerzbank AG              4.25  3/24/2016   EUR    63.34
Commerzbank AG              6.00  3/24/2016   EUR    59.76
Commerzbank AG              8.00  3/24/2016   EUR    56.61
Commerzbank AG             10.75  3/24/2016   EUR    53.96
Commerzbank AG             13.75  3/24/2016   EUR    51.53
Commerzbank AG              5.25  6/23/2016   EUR    62.48
Commerzbank AG              7.00  6/23/2016   EUR    59.59
Commerzbank AG              8.75  6/23/2016   EUR    57.04
Commerzbank AG             11.00  6/23/2016   EUR    55.05
Commerzbank AG             13.25  6/23/2016   EUR    53.23
Bank J Safra Sarasin AG/G   7.00  2/13/2017   CHF    69.39
Commerzbank AG              4.50   9/9/2016   EUR    69.37
Notenstein La Roche Priva   3.10  8/28/2019   CHF    76.09
Notenstein La Roche Priva   4.30  8/21/2018   CHF    67.51
Notenstein La Roche Priva   6.80  2/21/2017   CHF    75.92
Notenstein La Roche Priva   6.20  2/21/2017   EUR    60.71
Notenstein La Roche Priva   5.90  8/21/2018   CHF    74.08
Notenstein La Roche Priva   5.30  8/21/2017   CHF    74.27
Notenstein La Roche Priva   4.10  8/21/2017   CHF    75.76
UBS AG/London               5.00  8/13/2018   CHF    74.38
UBS AG/London               6.50  8/12/2016   CHF    73.32
Leonteq Securities AG      16.20 11/21/2016   CHF    65.76
Leonteq Securities AG       9.00 11/21/2016   USD    69.21
Vontobel Financial Produc   7.95  3/29/2016   EUR    74.10
Bank Julius Baer & Co Ltd   6.00   7/1/2016   CHF    68.10
Bank Julius Baer & Co Ltd  10.70   7/1/2016   CHF    67.80
UBS AG                      7.50  6/24/2016   EUR    75.13
Goldman Sachs & Co Wertpa  18.00  4/20/2016   EUR    68.02
Goldman Sachs & Co Wertpa  10.00  5/25/2016   EUR    74.80
Goldman Sachs & Co Wertpa  21.00  5/25/2016   EUR    65.54
Goldman Sachs & Co Wertpa  13.00  3/22/2017   EUR    74.18
Goldman Sachs & Co Wertpa  12.00  6/21/2017   EUR    74.12
Goldman Sachs & Co Wertpa  25.00  5/25/2016   EUR    65.57
Goldman Sachs & Co Wertpa  22.00  7/20/2016   EUR    68.20
Goldman Sachs & Co Wertpa  19.00  9/21/2016   EUR    70.31
Goldman Sachs & Co Wertpa  14.00  3/22/2017   EUR    74.40
Goldman Sachs & Co Wertpa  19.00  5/25/2016   EUR    59.48
Goldman Sachs & Co Wertpa  25.00  4/20/2016   EUR    55.84
Goldman Sachs & Co Wertpa  19.00  9/21/2016   EUR    61.69
Goldman Sachs & Co Wertpa   6.00 12/21/2016   EUR    73.16
Goldman Sachs & Co Wertpa   6.00  3/22/2017   EUR    73.89
Goldman Sachs & Co Wertpa  10.00  3/22/2017   EUR    68.91
Goldman Sachs & Co Wertpa  14.00  3/22/2017   EUR    65.69
Goldman Sachs & Co Wertpa   6.00  6/21/2017   EUR    73.47
Goldman Sachs & Co Wertpa  10.00  6/21/2017   EUR    69.89
Goldman Sachs & Co Wertpa  20.00  4/20/2016   EUR    69.01
Goldman Sachs & Co Wertpa  15.00  9/21/2016   EUR    75.02
Goldman Sachs & Co Wertpa   3.00  2/24/2016   EUR    70.03
Goldman Sachs & Co Wertpa   3.00  4/20/2016   EUR    69.23
Goldman Sachs & Co Wertpa   3.00  5/25/2016   EUR    72.26
Goldman Sachs & Co Wertpa   4.00  5/25/2016   EUR    69.49
Goldman Sachs & Co Wertpa   3.00  7/20/2016   EUR    72.04
Goldman Sachs & Co Wertpa   8.00  7/20/2016   EUR    61.35
Goldman Sachs & Co Wertpa   3.00  9/21/2016   EUR    71.88
Goldman Sachs & Co Wertpa   4.00 12/21/2016   EUR    70.18
Goldman Sachs & Co Wertpa   6.00  3/22/2017   EUR    66.05
Goldman Sachs & Co Wertpa   7.00  3/22/2017   EUR    65.10
Goldman Sachs & Co Wertpa  10.00  3/22/2017   EUR    61.14
Goldman Sachs & Co Wertpa   4.00  6/21/2017   EUR    70.75
Goldman Sachs & Co Wertpa   4.00  6/21/2017   EUR    72.96
Goldman Sachs & Co Wertpa   6.00  6/21/2017   EUR    67.09
Goldman Sachs & Co Wertpa   7.00  6/21/2017   EUR    66.46
Goldman Sachs & Co Wertpa  10.00  6/21/2017   EUR    63.45
Goldman Sachs & Co Wertpa  13.00  6/21/2017   EUR    61.75
Goldman Sachs & Co Wertpa  19.00  6/22/2016   EUR    73.71
Goldman Sachs & Co Wertpa  14.00  9/21/2016   EUR    70.53
Goldman Sachs & Co Wertpa   6.00  6/21/2017   EUR    79.18
Goldman Sachs & Co Wertpa   8.00  6/21/2017   EUR    78.35
Goldman Sachs & Co Wertpa  12.00  6/21/2017   EUR    74.55
Goldman Sachs & Co Wertpa   8.00  3/22/2017   EUR    77.66
Goldman Sachs & Co Wertpa  13.00  3/22/2017   EUR    73.65
Goldman Sachs & Co Wertpa  21.00  4/20/2016   EUR    74.96
Goldman Sachs & Co Wertpa  22.00  6/22/2016   EUR    74.57
Goldman Sachs & Co Wertpa   8.00  2/24/2016   EUR    58.61
Goldman Sachs & Co Wertpa  22.00  2/24/2016   EUR    48.04
Goldman Sachs & Co Wertpa   4.00  3/23/2016   EUR    64.66
Goldman Sachs & Co Wertpa  20.00  3/23/2016   EUR    48.43
Goldman Sachs & Co Wertpa   6.00  4/20/2016   EUR    61.46
Goldman Sachs & Co Wertpa  13.00  4/20/2016   EUR    53.56
Goldman Sachs & Co Wertpa  19.00  4/20/2016   EUR    49.83
Goldman Sachs & Co Wertpa  22.00  4/20/2016   EUR    48.26
Goldman Sachs & Co Wertpa   5.00  5/25/2016   EUR    65.13
Goldman Sachs & Co Wertpa   9.00  5/25/2016   EUR    59.33
Goldman Sachs & Co Wertpa  20.00  5/25/2016   EUR    51.86
Goldman Sachs & Co Wertpa   9.00  6/22/2016   EUR    59.92
Goldman Sachs & Co Wertpa  13.00  6/22/2016   EUR    55.70
Goldman Sachs & Co Wertpa  21.00  6/22/2016   EUR    51.70
Goldman Sachs & Co Wertpa  20.00  7/20/2016   EUR    52.88
Goldman Sachs & Co Wertpa   5.00  9/21/2016   EUR    65.60
Goldman Sachs & Co Wertpa  10.00  9/21/2016   EUR    59.49
Goldman Sachs & Co Wertpa  15.00  9/21/2016   EUR    55.34
Goldman Sachs & Co Wertpa  17.00  9/21/2016   EUR    54.52
Goldman Sachs & Co Wertpa   5.00  3/22/2017   EUR    66.47
Goldman Sachs & Co Wertpa   7.00  3/22/2017   EUR    63.04
Goldman Sachs & Co Wertpa   8.00  3/22/2017   EUR    61.60
Goldman Sachs & Co Wertpa  13.00  3/22/2017   EUR    58.53
Goldman Sachs & Co Wertpa   4.00  6/21/2017   EUR    67.62
Goldman Sachs & Co Wertpa   6.00  6/21/2017   EUR    64.63
Goldman Sachs & Co Wertpa   7.00  6/21/2017   EUR    63.40
Goldman Sachs & Co Wertpa   8.00  6/21/2017   EUR    62.33
Goldman Sachs & Co Wertpa  10.00  6/21/2017   EUR    62.73
Goldman Sachs & Co Wertpa  24.00  2/24/2016   EUR    54.66
Goldman Sachs & Co Wertpa  22.00  3/23/2016   EUR    58.51
Goldman Sachs & Co Wertpa  18.00  4/20/2016   EUR    62.00
Goldman Sachs & Co Wertpa  19.00  5/25/2016   EUR    61.73
Goldman Sachs & Co Wertpa  21.00  7/20/2016   EUR    61.42
Goldman Sachs & Co Wertpa   7.00  3/22/2017   EUR    75.20
Goldman Sachs & Co Wertpa  15.00  3/22/2017   EUR    68.29
Goldman Sachs & Co Wertpa   8.00  6/21/2017   EUR    75.15
Goldman Sachs & Co Wertpa  10.00  6/21/2017   EUR    71.11
Goldman Sachs & Co Wertpa  20.00  4/20/2016   EUR    45.73
Goldman Sachs & Co Wertpa   4.00  6/22/2016   EUR    60.86
Goldman Sachs & Co Wertpa   5.00  9/21/2016   EUR    58.90
Goldman Sachs & Co Wertpa   4.00 12/21/2016   EUR    62.16
Goldman Sachs & Co Wertpa   5.00  6/21/2017   EUR    61.30
Goldman Sachs & Co Wertpa   8.00  5/25/2016   EUR    74.33
Goldman Sachs & Co Wertpa  10.00  5/25/2016   EUR    74.83
Goldman Sachs & Co Wertpa   9.00  7/20/2016   EUR    75.84
Goldman Sachs & Co Wertpa   8.00  5/25/2016   EUR    75.82
Goldman Sachs & Co Wertpa   3.00  2/24/2016   EUR    67.26
Goldman Sachs & Co Wertpa   3.00  3/23/2016   EUR    66.22
Goldman Sachs & Co Wertpa   4.00  4/20/2016   EUR    66.46
Goldman Sachs & Co Wertpa   4.00  7/20/2016   EUR    65.33
Goldman Sachs & Co Wertpa   5.00 12/21/2016   EUR    66.54
Goldman Sachs & Co Wertpa   7.00 12/21/2016   EUR    68.19
Goldman Sachs & Co Wertpa   7.00 12/21/2016   EUR    68.19
Goldman Sachs & Co Wertpa   5.00  3/22/2017   EUR    67.03
Goldman Sachs & Co Wertpa   7.00  3/22/2017   EUR    69.17
Goldman Sachs & Co Wertpa   5.00  6/21/2017   EUR    66.34
Goldman Sachs & Co Wertpa   7.00  6/21/2017   EUR    68.97
Goldman Sachs & Co Wertpa   8.00  6/21/2017   EUR    70.28
Goldman Sachs & Co Wertpa   3.00  3/23/2016   EUR    54.35
Goldman Sachs & Co Wertpa   4.00  4/20/2016   EUR    54.78
Goldman Sachs & Co Wertpa   4.00  7/20/2016   EUR    55.54
Goldman Sachs & Co Wertpa   5.00  7/20/2016   EUR    55.95
Goldman Sachs & Co Wertpa   8.00  7/20/2016   EUR    57.16
Goldman Sachs & Co Wertpa   6.00 12/21/2016   EUR    58.58
Goldman Sachs & Co Wertpa   9.00 12/21/2016   EUR    61.04
Goldman Sachs & Co Wertpa   9.00 12/21/2016   EUR    61.04
Goldman Sachs & Co Wertpa   5.00  3/22/2017   EUR    58.70
Goldman Sachs & Co Wertpa   6.00  3/22/2017   EUR    59.77
Goldman Sachs & Co Wertpa   6.00  6/21/2017   EUR    60.85
Goldman Sachs & Co Wertpa   8.00  6/21/2017   EUR    63.48
Goldman Sachs & Co Wertpa  11.00  2/24/2016   EUR    55.55
Goldman Sachs & Co Wertpa  11.00  3/23/2016   EUR    55.07
Goldman Sachs & Co Wertpa   7.00  4/20/2016   EUR    55.25
Goldman Sachs & Co Wertpa  10.00  4/20/2016   EUR    55.71
Goldman Sachs & Co Wertpa  10.00  4/20/2016   EUR    55.71
Goldman Sachs & Co Wertpa   6.00  5/25/2016   EUR    55.50
Goldman Sachs & Co Wertpa  11.00  5/25/2016   EUR    56.76
Goldman Sachs & Co Wertpa   5.00  6/22/2016   EUR    55.53
Goldman Sachs & Co Wertpa  11.00  6/22/2016   EUR    57.49
Goldman Sachs & Co Wertpa  10.00  7/20/2016   EUR    57.79
Goldman Sachs & Co Wertpa   5.00  9/21/2016   EUR    56.24
Goldman Sachs & Co Wertpa   7.00  9/21/2016   EUR    57.39
Goldman Sachs & Co Wertpa  10.00  9/21/2016   EUR    59.11
Goldman Sachs & Co Wertpa   6.00 12/21/2016   EUR    57.86
Goldman Sachs & Co Wertpa   8.00 12/21/2016   EUR    59.50
Goldman Sachs & Co Wertpa   7.00  3/22/2017   EUR    59.70
Goldman Sachs & Co Wertpa   8.00  3/22/2017   EUR    60.76
Goldman Sachs & Co Wertpa   6.00  6/21/2017   EUR    58.62
Goldman Sachs & Co Wertpa   8.00  6/21/2017   EUR    61.24
Goldman Sachs & Co Wertpa   8.00  6/21/2017   EUR    61.24
Goldman Sachs & Co Wertpa   3.00  2/24/2016   EUR    49.88
Goldman Sachs & Co Wertpa  12.00  3/23/2016   EUR    49.53
Goldman Sachs & Co Wertpa  12.00  3/23/2016   EUR    49.53
Goldman Sachs & Co Wertpa   3.00  4/20/2016   EUR    49.07
Goldman Sachs & Co Wertpa  10.00  4/20/2016   EUR    50.16
Goldman Sachs & Co Wertpa  11.00  4/20/2016   EUR    50.32
Goldman Sachs & Co Wertpa   7.00  5/25/2016   EUR    49.87
Goldman Sachs & Co Wertpa  10.00  5/25/2016   EUR    50.63
Goldman Sachs & Co Wertpa   4.00  6/22/2016   EUR    49.46
Goldman Sachs & Co Wertpa   4.00  7/20/2016   EUR    49.72
Goldman Sachs & Co Wertpa  11.00  7/20/2016   EUR    52.54
Goldman Sachs & Co Wertpa  10.00  9/21/2016   EUR    53.66
Goldman Sachs & Co Wertpa   7.00 12/21/2016   EUR    53.52
Goldman Sachs & Co Wertpa   8.00 12/21/2016   EUR    54.34
Goldman Sachs & Co Wertpa   9.00 12/21/2016   EUR    55.16
Goldman Sachs & Co Wertpa   9.00 12/21/2016   EUR    55.16
Goldman Sachs & Co Wertpa   5.00  3/22/2017   EUR    52.97
Goldman Sachs & Co Wertpa   7.00  3/22/2017   EUR    55.11
Goldman Sachs & Co Wertpa   8.00  3/22/2017   EUR    56.18
Goldman Sachs & Co Wertpa   8.00  3/22/2017   EUR    56.18
Goldman Sachs & Co Wertpa   8.00  6/21/2017   EUR    57.33
Goldman Sachs & Co Wertpa   8.00  6/21/2017   EUR    57.33
Notenstein La Roche Priva   6.20   1/6/2017   CHF    72.36
Bank Julius Baer & Co Ltd   6.00   7/5/2016   EUR    72.10
Vontobel Financial Produc   7.55  7/22/2016   EUR    50.35
Landesbank Hessen-Thuerin   4.00  7/31/2019   EUR    66.31
Vontobel Financial Produc   7.55  7/22/2016   EUR    50.68
Credit Suisse AG/London     8.25   7/6/2016   USD    55.72
Deutsche Bank AG            6.50  3/22/2016   EUR    71.80
Deutsche Bank AG            4.50  9/20/2016   EUR    70.10
Deutsche Bank AG            4.50  3/22/2016   EUR    71.60
Deutsche Bank AG            6.50  9/20/2016   EUR    77.50
Deutsche Bank AG            6.50  6/21/2016   EUR    77.40
Deutsche Bank AG            4.50  6/21/2016   EUR    76.70
Deutsche Bank AG            4.50 12/20/2016   EUR    70.30
Deutsche Bank AG            6.50  6/21/2016   EUR    58.50
Deutsche Bank AG            4.50  9/20/2016   EUR    53.80
Deutsche Bank AG            6.50  9/20/2016   EUR    59.90
Deutsche Bank AG            4.50 12/20/2016   EUR    54.70
Deutsche Bank AG            4.50  9/20/2016   EUR    58.70
Deutsche Bank AG            6.50  3/22/2016   EUR    53.00
Deutsche Bank AG            4.50  6/21/2016   EUR    54.20
Deutsche Bank AG            6.50 12/20/2016   EUR    61.70
Deutsche Bank AG            4.50  9/20/2016   EUR    59.00
Deutsche Bank AG            4.50 12/20/2016   EUR    60.00
Deutsche Bank AG            4.50 12/20/2016   EUR    56.40
Deutsche Bank AG            6.50  6/21/2016   EUR    54.90
Deutsche Bank AG            6.50  6/21/2016   EUR    58.70
Vontobel Financial Produc   8.00  7/22/2016   EUR    52.94
Deutsche Bank AG            4.50  3/22/2016   EUR    58.10
Deutsche Bank AG            6.50  9/20/2016   EUR    56.50
Deutsche Bank AG            8.20  9/20/2016   EUR    72.30
Deutsche Bank AG            8.20  6/21/2016   EUR    54.00
Deutsche Bank AG            8.20 12/20/2016   EUR    57.80
Deutsche Bank AG            8.20  3/22/2016   EUR    54.60
Deutsche Bank AG            8.20  9/20/2016   EUR    57.50
Deutsche Bank AG            5.50  6/22/2016   EUR    62.70
Deutsche Bank AG            4.50  6/22/2016   EUR    58.30
Deutsche Bank AG            6.50  6/22/2016   EUR    59.00
Deutsche Bank AG            4.50  6/22/2016   EUR    54.80
Deutsche Bank AG            6.50  6/22/2016   EUR    55.50
Deutsche Bank AG            5.50  6/22/2016   EUR    55.10
Deutsche Bank AG            6.50  9/20/2016   EUR    64.30
Deutsche Bank AG            4.50  9/20/2016   EUR    59.30
Deutsche Bank AG            6.50  9/20/2016   EUR    57.00
Deutsche Bank AG            6.50 12/20/2016   EUR    65.40
Deutsche Bank AG            5.50 12/20/2016   EUR    64.60
Deutsche Bank AG            6.50 12/20/2016   EUR    61.70
Deutsche Bank AG            5.50 12/20/2016   EUR    57.60
Deutsche Bank AG            4.50 12/20/2016   EUR    56.70
Deutsche Bank AG            5.50  6/22/2016   EUR    77.00
Deutsche Bank AG            6.50  6/22/2016   EUR    77.30
Deutsche Bank AG            6.50  6/22/2016   EUR    73.90
Deutsche Bank AG            4.50  6/22/2016   EUR    70.00
Deutsche Bank AG            5.50  6/22/2016   EUR    70.40
Deutsche Bank AG            4.50  9/20/2016   EUR    77.00
Deutsche Bank AG            4.50  9/20/2016   EUR    73.90
Deutsche Bank AG            6.50  9/20/2016   EUR    72.00
Deutsche Bank AG            8.20  6/21/2016   EUR    71.10
Deutsche Bank AG            5.50  9/20/2016   EUR    72.30
Deutsche Bank AG            4.50  9/20/2016   EUR    71.70
Deutsche Bank AG            6.50  9/20/2016   EUR    72.90
Deutsche Bank AG            4.50 12/20/2016   EUR    72.40
Deutsche Bank AG            4.50  6/22/2016   EUR    72.60
Deutsche Bank AG            6.50 12/20/2016   EUR    76.20
Deutsche Bank AG            5.50 12/20/2016   EUR    72.50
Deutsche Bank AG            6.50  6/21/2016   EUR    71.30
Deutsche Bank AG            4.50  9/20/2016   EUR    71.40
Deutsche Bank AG            4.50 12/20/2016   EUR    70.40
Vontobel Financial Produc   4.10  6/24/2016   EUR    72.46
Commerzbank AG              8.00  6/23/2016   EUR    75.34
Commerzbank AG              6.50  6/23/2016   EUR    71.72
Commerzbank AG              8.00  4/21/2016   EUR    70.25
DZ Bank AG Deutsche Zentr   7.20  6/20/2016   EUR    74.89
Deutsche Bank AG            5.00  7/15/2016   EUR    55.02
Bank Julius Baer & Co Ltd   8.90  6/30/2016   USD    35.50
Bank Julius Baer & Co Ltd  11.70  6/30/2016   USD    50.10
Bank Julius Baer & Co Ltd   8.25  6/30/2016   USD    62.35
Vontobel Financial Produc   7.60  9/23/2016   EUR    72.83
Vontobel Financial Produc   8.75  6/24/2016   EUR    71.47
Vontobel Financial Produc   7.10  6/24/2016   EUR    55.61
Vontobel Financial Produc   6.65  3/29/2016   EUR    73.25
Vontobel Financial Produc   6.60  6/24/2016   EUR    68.13
Vontobel Financial Produc   8.35  6/24/2016   EUR    74.09
Bank Julius Baer & Co Ltd  12.50   7/8/2016   USD    64.90
Vontobel Financial Produc  10.55  3/29/2016   EUR    62.80
DZ Bank AG Deutsche Zentr   8.40  3/21/2016   EUR    73.55
DZ Bank AG Deutsche Zentr   6.40  6/20/2016   EUR    75.78
DZ Bank AG Deutsche Zentr   6.80  3/21/2016   EUR    53.57
DZ Bank AG Deutsche Zentr   5.90  6/20/2016   EUR    56.61
DZ Bank AG Deutsche Zentr   7.10  6/20/2016   EUR    55.28
DZ Bank AG Deutsche Zentr   6.30  3/21/2016   EUR    58.07
DZ Bank AG Deutsche Zentr   6.00  6/20/2016   EUR    59.47
DZ Bank AG Deutsche Zentr   5.80  9/19/2016   EUR    72.80
DZ Bank AG Deutsche Zentr   6.60  9/19/2016   EUR    71.25
DZ Bank AG Deutsche Zentr   5.00  9/19/2016   EUR    52.33
DZ Bank AG Deutsche Zentr   7.50  3/21/2016   EUR    65.41
DZ Bank AG Deutsche Zentr   6.00  3/21/2016   EUR    50.85
DZ Bank AG Deutsche Zentr   5.75  6/20/2016   EUR    52.19
HSBC Trinkaus & Burkhardt  10.90  6/24/2016   EUR    69.79
HSBC Trinkaus & Burkhardt   9.40  9/23/2016   EUR    71.55
HSBC Trinkaus & Burkhardt   9.00  5/27/2016   EUR    71.63
HSBC Trinkaus & Burkhardt   7.20  5/27/2016   EUR    73.57
HSBC Trinkaus & Burkhardt   6.90 12/23/2016   EUR    66.50
HSBC Trinkaus & Burkhardt   6.40  9/23/2016   EUR    61.91
HSBC Trinkaus & Burkhardt   8.60  2/26/2016   EUR    57.41
HSBC Trinkaus & Burkhardt   9.60  9/23/2016   EUR    74.65
HSBC Trinkaus & Burkhardt   9.70  9/23/2016   EUR    67.96
HSBC Trinkaus & Burkhardt   9.40  2/26/2016   EUR    71.32
HSBC Trinkaus & Burkhardt   6.30  2/26/2016   EUR    73.88
HSBC Trinkaus & Burkhardt  11.70  9/23/2016   EUR    70.84
HSBC Trinkaus & Burkhardt   9.70  2/26/2016   EUR    71.47
HSBC Trinkaus & Burkhardt  11.30  9/23/2016   EUR    55.41
HSBC Trinkaus & Burkhardt  10.00  5/27/2016   EUR    55.42
HSBC Trinkaus & Burkhardt   8.30  6/24/2016   EUR    68.66
HSBC Trinkaus & Burkhardt   9.20 12/23/2016   EUR    68.25
HSBC Trinkaus & Burkhardt   6.40 12/23/2016   EUR    71.99
HSBC Trinkaus & Burkhardt   6.30  4/22/2016   EUR    72.65
HSBC Trinkaus & Burkhardt  11.80  5/27/2016   EUR    64.66
HSBC Trinkaus & Burkhardt   8.80  9/23/2016   EUR    51.14
HSBC Trinkaus & Burkhardt   6.30  6/24/2016   EUR    81.36
HSBC Trinkaus & Burkhardt  13.60  9/23/2016   EUR    70.01
HSBC Trinkaus & Burkhardt   6.20  3/25/2016   EUR    67.57
HSBC Trinkaus & Burkhardt   6.90  9/23/2016   EUR    67.31
HSBC Trinkaus & Burkhardt  14.00  2/26/2016   EUR    58.54
HSBC Trinkaus & Burkhardt  10.10  3/25/2016   EUR    65.18
HSBC Trinkaus & Burkhardt   9.70  6/24/2016   EUR    52.11
HSBC Trinkaus & Burkhardt   8.20  6/24/2016   EUR    54.75
Commerzbank AG              4.00  6/23/2016   EUR    76.69
Commerzbank AG              4.75  6/23/2016   EUR    75.32
Commerzbank AG              6.50  6/23/2016   EUR    72.86
Commerzbank AG              8.25  6/23/2016   EUR    70.63
Commerzbank AG              6.00  6/23/2016   EUR    74.91
Commerzbank AG              7.75  6/23/2016   EUR    72.58
Commerzbank AG              6.50  6/23/2016   EUR    76.38
Commerzbank AG              8.25  6/23/2016   EUR    74.05
Commerzbank AG              4.50  6/23/2016   EUR    61.02
Commerzbank AG              5.00  6/23/2016   EUR    60.52
Commerzbank AG              5.75  6/23/2016   EUR    59.54
Commerzbank AG              6.00  6/23/2016   EUR    59.00
Commerzbank AG              6.75  6/23/2016   EUR    58.09
Commerzbank AG              7.75  6/23/2016   EUR    57.29
Commerzbank AG              4.25  6/23/2016   EUR    72.40
Commerzbank AG              5.00  6/23/2016   EUR    71.36
Commerzbank AG              6.50  6/23/2016   EUR    69.22
Commerzbank AG              8.25  6/23/2016   EUR    67.35
Commerzbank AG              7.50  6/23/2016   EUR    54.80
Commerzbank AG              9.25  6/23/2016   EUR    53.32
Commerzbank AG              5.50  6/23/2016   EUR    72.68
Commerzbank AG              7.25  6/23/2016   EUR    69.58
Commerzbank AG              8.25  6/23/2016   EUR    68.18
Commerzbank AG              9.25  6/23/2016   EUR    66.85
Commerzbank AG              4.50  6/23/2016   EUR    78.81
Commerzbank AG              6.25  6/23/2016   EUR    75.60
Commerzbank AG              7.25  6/23/2016   EUR    73.94
Commerzbank AG              9.25  6/23/2016   EUR    71.30
Commerzbank AG              5.25  6/23/2016   EUR    74.75
Commerzbank AG              4.50  6/23/2016   EUR    58.44
Commerzbank AG              4.25  6/23/2016   EUR    71.44
Commerzbank AG              5.50  6/23/2016   EUR    68.86
Commerzbank AG              6.25  6/23/2016   EUR    67.66
Commerzbank AG              8.50  6/23/2016   EUR    64.46
Commerzbank AG              4.50  6/23/2016   EUR    52.66
Commerzbank AG              7.75  6/23/2016   EUR    49.57
Commerzbank AG              4.50  6/23/2016   EUR    60.71
Commerzbank AG              6.75  6/23/2016   EUR    56.72
Commerzbank AG              8.75  6/23/2016   EUR    54.62
Commerzbank AG              6.25  6/23/2016   EUR    66.76
Commerzbank AG              7.75  6/23/2016   EUR    64.68
Commerzbank AG              9.50  6/23/2016   EUR    62.80
Commerzbank AG              9.00  5/26/2016   EUR    68.26
Credit Suisse AG/Nassau     7.50  1/10/2017   CHF    75.51
Goldman Sachs & Co Wertpa   7.00  7/20/2016   EUR    71.63
Goldman Sachs & Co Wertpa   8.00  6/21/2017   EUR    76.30
Goldman Sachs & Co Wertpa   8.00  6/21/2017   EUR    76.30
Goldman Sachs & Co Wertpa   4.00  2/24/2016   EUR    75.24
Goldman Sachs & Co Wertpa  11.00  7/20/2016   EUR    63.18
Goldman Sachs & Co Wertpa   4.00 12/21/2016   EUR    56.93
Goldman Sachs & Co Wertpa   3.00  5/25/2016   EUR    52.09
Goldman Sachs & Co Wertpa   3.00  6/22/2016   EUR    52.24
Goldman Sachs & Co Wertpa   4.00  2/24/2016   EUR    47.62
Goldman Sachs & Co Wertpa   6.00  3/22/2017   EUR    51.94
Commerzbank AG             11.75  6/23/2016   EUR    61.12
Commerzbank AG             15.25  6/23/2016   EUR    56.78
Commerzbank AG             15.75  6/23/2016   EUR    62.76
Commerzbank AG              7.50  6/23/2016   EUR    55.71
Commerzbank AG             11.50  6/23/2016   EUR    68.51
Commerzbank AG             12.00  6/23/2016   EUR    69.49
Commerzbank AG             13.50  6/23/2016   EUR    73.70
Commerzbank AG              7.75  6/23/2016   EUR    81.19
Commerzbank AG             11.25  6/23/2016   EUR    74.48
Commerzbank AG              8.50  6/23/2016   EUR    71.65
Commerzbank AG             12.50  6/23/2016   EUR    66.50
Commerzbank AG             10.25  6/23/2016   EUR    76.64
Goldman Sachs & Co Wertpa  11.00  3/22/2017   EUR    67.95
Bank Julius Baer & Co Ltd   5.80   7/4/2016   CHF    75.30
Commerzbank AG              8.75  6/23/2016   EUR    66.72
Leonteq Securities AG      10.00 10/13/2016   CHF    61.07
Leonteq Securities AG       8.00 10/13/2016   CHF    72.75
LBBW                        3.00  2/26/2016   EUR    67.04
LBBW                        2.50 12/23/2016   EUR    67.62
LBBW                        3.50 12/23/2016   EUR    65.18
LBBW                        4.00  2/26/2016   EUR    77.10
LBBW                        3.00 12/23/2016   EUR    72.19
LBBW                        4.00 12/23/2016   EUR    70.30
LBBW                        3.00 12/23/2016   EUR    74.96
LBBW                        3.00  2/26/2016   EUR    79.62
LBBW                        3.00  2/26/2016   EUR    75.74
LBBW                        4.00  2/26/2016   EUR    52.69
LBBW                        3.00 12/23/2016   EUR    56.98
LBBW                        2.50 12/23/2016   EUR    60.84
LBBW                        3.00  2/26/2016   EUR    58.98
LBBW                        4.00 12/23/2016   EUR    61.50
LBBW                        3.00  2/26/2016   EUR    53.99
Notenstein La Roche Priva   7.30  1/10/2017   EUR    77.04
UBS AG/London               5.50   7/3/2017   CHF    68.90
Zurcher Kantonalbank Fina  11.06   7/1/2016   CHF    61.81
Vontobel Financial Produc   3.70   9/9/2016   EUR    55.08
Vontobel Financial Produc   2.50   9/9/2016   EUR    57.28
Vontobel Financial Produc   3.65  6/10/2016   EUR    41.63
Vontobel Financial Produc   5.35   9/9/2016   EUR    40.14
Vontobel Financial Produc   5.70   9/9/2016   EUR    59.64
Vontobel Financial Produc   4.35   9/9/2016   EUR    61.93
Vontobel Financial Produc   6.30  6/10/2016   EUR    58.84
Vontobel Financial Produc   4.80  3/11/2016   EUR    57.37
Vontobel Financial Produc   5.80  6/30/2016   EUR    76.48
Vontobel Financial Produc   5.10   9/9/2016   EUR    57.70
Vontobel Financial Produc   7.00  6/17/2016   EUR    58.31
Leonteq Securities AG      10.00  7/13/2016   EUR    55.38
UBS AG/London               7.00   7/3/2017   CHF    73.14
Commerzbank AG             10.75  6/23/2016   EUR    71.47
Commerzbank AG              7.00  6/23/2016   EUR    74.79
Commerzbank AG             11.00  6/23/2016   EUR    69.22
Commerzbank AG              8.25  6/23/2016   EUR    52.29
Commerzbank AG             10.00  6/23/2016   EUR    50.90
Vontobel Financial Produc   4.65  9/16/2016   EUR    68.84
Vontobel Financial Produc   4.35   9/9/2016   EUR    55.63
Landesbank Hessen-Thuerin   3.00 10/31/2016   EUR    64.20
WGZ-Bank AG Westdeutsche    4.00 12/19/2016   EUR    69.62
Deutsche Bank AG            3.20  8/24/2016   EUR    65.70
Deutsche Bank AG            3.20 10/26/2016   EUR    71.30
Deutsche Bank AG            3.20  9/20/2016   EUR    68.50
Deutsche Bank AG            3.20  7/20/2016   EUR    68.30
Deutsche Bank AG            3.20  8/24/2016   EUR    68.40
Deutsche Bank AG            3.20  9/20/2016   EUR    64.70
Deutsche Bank AG            3.20 12/20/2016   EUR    68.70
Deutsche Bank AG            3.20 11/23/2016   EUR    68.60
Deutsche Bank AG            3.20  7/20/2016   EUR    59.70
Deutsche Bank AG            3.20  8/24/2016   EUR    64.60
Deutsche Bank AG            3.20 11/23/2016   EUR    65.10
Deutsche Bank AG            3.20  9/20/2016   EUR    60.10
Deutsche Bank AG            3.20  7/20/2016   EUR    64.40
LBBW                        4.70  7/22/2016   EUR    55.24
Bank Julius Baer & Co Ltd   7.80   7/1/2016   CHF    72.45
Vontobel Financial Produc   5.60  6/24/2016   EUR    73.29
Credit Suisse AG/London     7.25   7/1/2016   CHF    50.14
UBS AG                      5.00  6/24/2016   EUR    58.57
UBS AG                      6.50  6/24/2016   EUR    74.78
Goldman Sachs & Co Wertpa  21.00  4/20/2016   EUR    65.79
Goldman Sachs & Co Wertpa  17.00  9/21/2016   EUR    73.75
Goldman Sachs & Co Wertpa  21.00  2/24/2016   EUR    70.70
Goldman Sachs & Co Wertpa  18.00  4/20/2016   EUR    72.74
Goldman Sachs & Co Wertpa  25.00  4/20/2016   EUR    65.16
Goldman Sachs & Co Wertpa  23.00  6/22/2016   EUR    66.83
Goldman Sachs & Co Wertpa  16.00 12/21/2016   EUR    72.55
Goldman Sachs & Co Wertpa  15.00  5/25/2016   EUR    62.95
Goldman Sachs & Co Wertpa  24.00  5/25/2016   EUR    56.87
Goldman Sachs & Co Wertpa  21.00  7/20/2016   EUR    59.28
Goldman Sachs & Co Wertpa   8.00 12/21/2016   EUR    69.70
Goldman Sachs & Co Wertpa  16.00 12/21/2016   EUR    63.92
Goldman Sachs & Co Wertpa   8.00  3/22/2017   EUR    71.18
Goldman Sachs & Co Wertpa   8.00  6/21/2017   EUR    71.46
Goldman Sachs & Co Wertpa  13.00  6/21/2017   EUR    66.67
Goldman Sachs & Co Wertpa  25.00  2/24/2016   EUR    66.76
Goldman Sachs & Co Wertpa   3.00  2/24/2016   EUR    73.37
Goldman Sachs & Co Wertpa   3.00  3/23/2016   EUR    69.04
Goldman Sachs & Co Wertpa   3.00  3/23/2016   EUR    72.27
Goldman Sachs & Co Wertpa   3.00  4/20/2016   EUR    72.35
Goldman Sachs & Co Wertpa   3.00  6/22/2016   EUR    72.09
Goldman Sachs & Co Wertpa   4.00  7/20/2016   EUR    69.61
Goldman Sachs & Co Wertpa   7.00  7/20/2016   EUR    63.19
Goldman Sachs & Co Wertpa  21.00  7/20/2016   EUR    53.08
Goldman Sachs & Co Wertpa   4.00  9/21/2016   EUR    69.81
Goldman Sachs & Co Wertpa   3.00 12/21/2016   EUR    71.81
Goldman Sachs & Co Wertpa   7.00 12/21/2016   EUR    63.63
Goldman Sachs & Co Wertpa  16.00 12/21/2016   EUR    57.89
Goldman Sachs & Co Wertpa   4.00  3/22/2017   EUR    72.83
Goldman Sachs & Co Wertpa   4.00  3/22/2017   EUR    70.51
Goldman Sachs & Co Wertpa   5.00  3/22/2017   EUR    67.10
Goldman Sachs & Co Wertpa   8.00  3/22/2017   EUR    62.40
Goldman Sachs & Co Wertpa   6.00  6/21/2017   EUR    69.12
Goldman Sachs & Co Wertpa   8.00  6/21/2017   EUR    64.11
Goldman Sachs & Co Wertpa  20.00  2/24/2016   EUR    73.44
Goldman Sachs & Co Wertpa  22.00  7/20/2016   EUR    72.20
Goldman Sachs & Co Wertpa  15.00  4/20/2016   EUR    69.47
Goldman Sachs & Co Wertpa   9.00  5/25/2016   EUR    75.73
Goldman Sachs & Co Wertpa  10.00  6/21/2017   EUR    74.71
Goldman Sachs & Co Wertpa   9.00  3/22/2017   EUR    75.36
Goldman Sachs & Co Wertpa  23.00  5/25/2016   EUR    73.23
Goldman Sachs & Co Wertpa   4.00  2/24/2016   EUR    65.91
Goldman Sachs & Co Wertpa  15.00  2/24/2016   EUR    52.80
Goldman Sachs & Co Wertpa  18.00  2/24/2016   EUR    50.30
Goldman Sachs & Co Wertpa   6.00  3/23/2016   EUR    61.07
Goldman Sachs & Co Wertpa  24.00  3/23/2016   EUR    46.71
Goldman Sachs & Co Wertpa   4.00  4/20/2016   EUR    64.82
Goldman Sachs & Co Wertpa  10.00  4/20/2016   EUR    55.79
Goldman Sachs & Co Wertpa   7.00  5/25/2016   EUR    62.07
Goldman Sachs & Co Wertpa  23.00  5/25/2016   EUR    50.59
Goldman Sachs & Co Wertpa  18.00  6/22/2016   EUR    52.73
Goldman Sachs & Co Wertpa  15.00  7/20/2016   EUR    55.05
Goldman Sachs & Co Wertpa   4.00  9/21/2016   EUR    68.49
Goldman Sachs & Co Wertpa   6.00  9/21/2016   EUR    62.94
Goldman Sachs & Co Wertpa   4.00 12/21/2016   EUR    68.58
Goldman Sachs & Co Wertpa  15.00 12/21/2016   EUR    57.12
Goldman Sachs & Co Wertpa   4.00  3/22/2017   EUR    68.45
Goldman Sachs & Co Wertpa   6.00  3/22/2017   EUR    64.66
Goldman Sachs & Co Wertpa   9.00  3/22/2017   EUR    60.33
Goldman Sachs & Co Wertpa   5.00  6/21/2017   EUR    66.04
Goldman Sachs & Co Wertpa  13.00  6/21/2017   EUR    60.88
Goldman Sachs & Co Wertpa  21.00  4/20/2016   EUR    60.23
Goldman Sachs & Co Wertpa  15.00  5/25/2016   EUR    65.46
Goldman Sachs & Co Wertpa   6.00  3/22/2017   EUR    76.77
Goldman Sachs & Co Wertpa   8.00  3/22/2017   EUR    73.76
Goldman Sachs & Co Wertpa  10.00  3/22/2017   EUR    71.15
Goldman Sachs & Co Wertpa   6.00  6/21/2017   EUR    77.41
Goldman Sachs & Co Wertpa   7.00  6/21/2017   EUR    76.26
Goldman Sachs & Co Wertpa  10.00  6/21/2017   EUR    73.22
Goldman Sachs & Co Wertpa  13.00  6/21/2017   EUR    69.22
Goldman Sachs & Co Wertpa   9.00  4/20/2016   EUR    52.78
Goldman Sachs & Co Wertpa   3.00  9/21/2016   EUR    64.36
Goldman Sachs & Co Wertpa   3.00  3/22/2017   EUR    64.95
Goldman Sachs & Co Wertpa   7.00  3/22/2017   EUR    57.94
Goldman Sachs & Co Wertpa   4.00  6/21/2017   EUR    62.80
Goldman Sachs & Co Wertpa  10.00  5/25/2016   EUR    74.83
Goldman Sachs & Co Wertpa   8.00  7/20/2016   EUR    75.44
Goldman Sachs & Co Wertpa   9.00  7/20/2016   EUR    75.84
Goldman Sachs & Co Wertpa  10.00  5/25/2016   EUR    76.32
Goldman Sachs & Co Wertpa   4.00  5/25/2016   EUR    65.21
Goldman Sachs & Co Wertpa   4.00  6/22/2016   EUR    65.24
Goldman Sachs & Co Wertpa   7.00  7/20/2016   EUR    66.54
Goldman Sachs & Co Wertpa   6.00 12/21/2016   EUR    67.37
Goldman Sachs & Co Wertpa   8.00 12/21/2016   EUR    69.01
Goldman Sachs & Co Wertpa   6.00  3/22/2017   EUR    68.10
Goldman Sachs & Co Wertpa   7.00  3/22/2017   EUR    69.17
Goldman Sachs & Co Wertpa   8.00  3/22/2017   EUR    70.24
Goldman Sachs & Co Wertpa   6.00  6/21/2017   EUR    67.65
Goldman Sachs & Co Wertpa   7.00  6/21/2017   EUR    68.97
Goldman Sachs & Co Wertpa   8.00  6/21/2017   EUR    70.28
Goldman Sachs & Co Wertpa   3.00  2/24/2016   EUR    55.09
Goldman Sachs & Co Wertpa   4.00  2/24/2016   EUR    55.09
Goldman Sachs & Co Wertpa   4.00  4/20/2016   EUR    54.78
Goldman Sachs & Co Wertpa   4.00  5/25/2016   EUR    55.08
Goldman Sachs & Co Wertpa   4.00  6/22/2016   EUR    55.27
Goldman Sachs & Co Wertpa   6.00  7/20/2016   EUR    56.35
Goldman Sachs & Co Wertpa  10.00  7/20/2016   EUR    57.97
Goldman Sachs & Co Wertpa   6.00 12/21/2016   EUR    58.57
Goldman Sachs & Co Wertpa   6.00  3/22/2017   EUR    59.77
Goldman Sachs & Co Wertpa   7.00  3/22/2017   EUR    60.84
Goldman Sachs & Co Wertpa   8.00  3/22/2017   EUR    61.91
Goldman Sachs & Co Wertpa   8.00  3/22/2017   EUR    61.91
Goldman Sachs & Co Wertpa   5.00  6/21/2017   EUR    59.54
Goldman Sachs & Co Wertpa   7.00  6/21/2017   EUR    62.17
Goldman Sachs & Co Wertpa   8.00  6/21/2017   EUR    63.48
Goldman Sachs & Co Wertpa   8.00  6/21/2017   EUR    63.48
Goldman Sachs & Co Wertpa   3.00  2/24/2016   EUR    55.50
Goldman Sachs & Co Wertpa  10.00  2/24/2016   EUR    55.54
Goldman Sachs & Co Wertpa  11.00  2/24/2016   EUR    55.55
Goldman Sachs & Co Wertpa   3.00  3/23/2016   EUR    54.44
Goldman Sachs & Co Wertpa  10.00  3/23/2016   EUR    54.99
Goldman Sachs & Co Wertpa   4.00  4/20/2016   EUR    54.78
Goldman Sachs & Co Wertpa   5.00  4/20/2016   EUR    54.93
Goldman Sachs & Co Wertpa   4.00  5/25/2016   EUR    55.00
Goldman Sachs & Co Wertpa   7.00  5/25/2016   EUR    55.76
Goldman Sachs & Co Wertpa  10.00  5/25/2016   EUR    56.51
Goldman Sachs & Co Wertpa  11.00  5/25/2016   EUR    56.76
Goldman Sachs & Co Wertpa   8.00  6/22/2016   EUR    56.51
Goldman Sachs & Co Wertpa  10.00  6/22/2016   EUR    57.16
Goldman Sachs & Co Wertpa  11.00  6/22/2016   EUR    57.49
Goldman Sachs & Co Wertpa  10.00  7/20/2016   EUR    57.79
Goldman Sachs & Co Wertpa  10.00  7/20/2016   EUR    57.79
Goldman Sachs & Co Wertpa   6.00  9/21/2016   EUR    56.81
Goldman Sachs & Co Wertpa  10.00  9/21/2016   EUR    59.11
Goldman Sachs & Co Wertpa   9.00 12/21/2016   EUR    60.33
Goldman Sachs & Co Wertpa   9.00 12/21/2016   EUR    60.33
Goldman Sachs & Co Wertpa   5.00  3/22/2017   EUR    57.56
Goldman Sachs & Co Wertpa   6.00  3/22/2017   EUR    58.63
Goldman Sachs & Co Wertpa   8.00  3/22/2017   EUR    60.76
Goldman Sachs & Co Wertpa   8.00  3/22/2017   EUR    60.76
Goldman Sachs & Co Wertpa   7.00  6/21/2017   EUR    59.93
Goldman Sachs & Co Wertpa   7.00  6/21/2017   EUR    59.93
Goldman Sachs & Co Wertpa   8.00  6/21/2017   EUR    61.24
Goldman Sachs & Co Wertpa   3.00  3/23/2016   EUR    48.82
Goldman Sachs & Co Wertpa   8.00  4/20/2016   EUR    49.85
Goldman Sachs & Co Wertpa  11.00  4/20/2016   EUR    50.32
Goldman Sachs & Co Wertpa  11.00  4/20/2016   EUR    50.32
Goldman Sachs & Co Wertpa   4.00  5/25/2016   EUR    49.12
Goldman Sachs & Co Wertpa   8.00  7/20/2016   EUR    51.33
Goldman Sachs & Co Wertpa  10.00  7/20/2016   EUR    52.14
Goldman Sachs & Co Wertpa  10.00  7/20/2016   EUR    52.14
Goldman Sachs & Co Wertpa  11.00  7/20/2016   EUR    52.54
Goldman Sachs & Co Wertpa   4.00  9/21/2016   EUR    50.21
Goldman Sachs & Co Wertpa   7.00  9/21/2016   EUR    51.93
Goldman Sachs & Co Wertpa   8.00  9/21/2016   EUR    52.51
Goldman Sachs & Co Wertpa  10.00  9/21/2016   EUR    53.66
Goldman Sachs & Co Wertpa  10.00  9/21/2016   EUR    53.66
Goldman Sachs & Co Wertpa   4.00 12/21/2016   EUR    51.06
Goldman Sachs & Co Wertpa   8.00 12/21/2016   EUR    54.34
Goldman Sachs & Co Wertpa   9.00 12/21/2016   EUR    55.16
Goldman Sachs & Co Wertpa   7.00  3/22/2017   EUR    55.11
Goldman Sachs & Co Wertpa   8.00  3/22/2017   EUR    56.18
Goldman Sachs & Co Wertpa   8.00  3/22/2017   EUR    56.18
Goldman Sachs & Co Wertpa   5.00  6/21/2017   EUR    53.39
Goldman Sachs & Co Wertpa   7.00  6/21/2017   EUR    56.01
Goldman Sachs & Co Wertpa   7.00  6/21/2017   EUR    56.01
Goldman Sachs & Co Wertpa   8.00  6/21/2017   EUR    57.33
Goldman Sachs & Co Wertpa   8.00  6/21/2017   EUR    57.33
UBS AG/London               9.25  6/26/2017   CHF    64.72
Bank Julius Baer & Co Ltd   8.20   7/5/2016   USD    63.75
Vontobel Financial Produc   6.95  7/22/2016   EUR    69.79
Deutsche Bank AG            6.50 12/20/2016   EUR    77.80
Deutsche Bank AG            4.50  6/21/2016   EUR    74.40
Deutsche Bank AG            4.50  6/21/2016   EUR    69.80
Deutsche Bank AG            6.50  9/20/2016   EUR    71.30
Deutsche Bank AG            6.50 12/20/2016   EUR    72.00
Deutsche Bank AG            6.50  6/21/2016   EUR    75.00
Deutsche Bank AG            6.50  3/22/2016   EUR    79.60
Deutsche Bank AG            6.50  6/21/2016   EUR    70.50
Deutsche Bank AG            4.50  9/20/2016   EUR    76.30
Deutsche Bank AG            4.50  3/22/2016   EUR    79.50
Deutsche Bank AG            4.50 12/20/2016   EUR    76.10
Deutsche Bank AG            4.50  3/22/2016   EUR    58.00
Deutsche Bank AG            6.50  3/22/2016   EUR    58.20
Deutsche Bank AG            4.50  6/21/2016   EUR    52.80
Deutsche Bank AG            6.50  9/20/2016   EUR    54.90
Deutsche Bank AG            4.50  6/21/2016   EUR    57.80
Deutsche Bank AG            4.50 12/20/2016   EUR    59.50
Deutsche Bank AG            6.50 12/20/2016   EUR    56.40
Deutsche Bank AG            6.50  6/21/2016   EUR    53.40
Deutsche Bank AG            6.50 12/20/2016   EUR    61.20
Deutsche Bank AG            4.50  3/22/2016   EUR    52.80
LBBW                        3.70  7/27/2018   EUR    56.16
Deutsche Bank AG            6.50  3/22/2016   EUR    58.30
Deutsche Bank AG            4.50  6/21/2016   EUR    58.00
Deutsche Bank AG            4.50  9/20/2016   EUR    55.30
Deutsche Bank AG            4.50  3/22/2016   EUR    54.20
Deutsche Bank AG            6.50  3/22/2016   EUR    54.40
Vontobel Financial Produc   8.00  7/22/2016   EUR    49.70
Vontobel Financial Produc   6.50  7/22/2016   EUR    48.84
Deutsche Bank AG            6.50  9/20/2016   EUR    60.20
Deutsche Bank AG            6.50 12/20/2016   EUR    58.10
Deutsche Bank AG            8.20 12/20/2016   EUR    73.40
Deutsche Bank AG            8.20  3/22/2016   EUR    72.00
Deutsche Bank AG            8.20  3/22/2016   EUR    53.10
Deutsche Bank AG            8.20  9/20/2016   EUR    55.90
Deutsche Bank AG            8.20  6/21/2016   EUR    55.50
Deutsche Bank AG            8.20 12/20/2016   EUR    59.50
Deutsche Bank AG            4.50  6/22/2016   EUR    62.30
Deutsche Bank AG            6.50  6/22/2016   EUR    63.00
Deutsche Bank AG            5.50  6/22/2016   EUR    58.70
Deutsche Bank AG            4.50  9/20/2016   EUR    63.10
Deutsche Bank AG            5.50  9/20/2016   EUR    63.70
Deutsche Bank AG            6.50  9/20/2016   EUR    60.40
Deutsche Bank AG            5.50  9/20/2016   EUR    59.80
Deutsche Bank AG            4.50  9/20/2016   EUR    55.80
Deutsche Bank AG            5.50  9/20/2016   EUR    56.40
Deutsche Bank AG            4.50 12/20/2016   EUR    63.80
Deutsche Bank AG            4.50 12/20/2016   EUR    60.10
Deutsche Bank AG            5.50 12/20/2016   EUR    60.90
Deutsche Bank AG            6.50 12/20/2016   EUR    58.40
Deutsche Bank AG            4.50  6/22/2016   EUR    76.60
Deutsche Bank AG            4.50  6/22/2016   EUR    73.20
Deutsche Bank AG            5.50  6/22/2016   EUR    73.60
Deutsche Bank AG            6.50  6/22/2016   EUR    70.70
Deutsche Bank AG            5.50  9/20/2016   EUR    74.50
Deutsche Bank AG            6.50  9/20/2016   EUR    75.10
Deutsche Bank AG            4.50  9/20/2016   EUR    70.90
Deutsche Bank AG            5.50 12/20/2016   EUR    73.20
Deutsche Bank AG            6.50 12/20/2016   EUR    74.10
Deutsche Bank AG            5.50  6/22/2016   EUR    73.00
Deutsche Bank AG            6.50  6/22/2016   EUR    73.30
Deutsche Bank AG            5.50  9/20/2016   EUR    71.40
Deutsche Bank AG            5.50 12/20/2016   EUR    75.40
Deutsche Bank AG            4.50 12/20/2016   EUR    74.60
Deutsche Bank AG            6.50 12/20/2016   EUR    73.40
Deutsche Bank AG            4.50 12/20/2016   EUR    71.70
Deutsche Bank AG            5.50  6/21/2016   EUR    70.90
Deutsche Bank AG            6.50  9/20/2016   EUR    72.60
Deutsche Bank AG            5.50  9/20/2016   EUR    72.00
Deutsche Bank AG            4.50 12/20/2016   EUR    75.40
Deutsche Bank AG            5.50 12/20/2016   EUR    71.30
Deutsche Bank AG            6.50 12/20/2016   EUR    72.10
Commerzbank AG              7.50  5/26/2016   EUR    74.64
Commerzbank AG              8.00  6/23/2016   EUR    58.61
Commerzbank AG              7.00  4/21/2016   EUR    73.12
Commerzbank AG              8.50  6/23/2016   EUR    74.07
Commerzbank AG             14.00  6/23/2016   EUR    62.33
Commerzbank AG              8.00  6/23/2016   EUR    68.24
LBBW                        3.75 12/23/2016   EUR    61.06
DZ Bank AG Deutsche Zentr   5.25  9/23/2016   EUR    66.35
DZ Bank AG Deutsche Zentr   5.00  9/23/2016   EUR    72.36
LBBW                        3.00  6/26/2020   EUR    73.80
Vontobel Financial Produc   6.00  7/22/2016   EUR    66.71
Vontobel Financial Produc  10.05  3/29/2016   EUR    70.57
Vontobel Financial Produc   7.85  3/29/2016   EUR    54.54
Vontobel Financial Produc   7.20  6/24/2016   EUR    70.87
Vontobel Financial Produc  10.55  3/29/2016   EUR    61.46
Vontobel Financial Produc   9.05  3/29/2016   EUR    54.99
Vontobel Financial Produc   8.80  6/24/2016   EUR    57.00
Credit Suisse AG/London     4.00   7/7/2016   CHF    75.53
Credit Suisse AG/Nassau     8.00  7/11/2016   EUR    71.58
Vontobel Financial Produc   7.35  3/29/2016   EUR    74.20
Vontobel Financial Produc   7.75  6/24/2016   EUR    72.45
Vontobel Financial Produc   6.90  9/23/2016   EUR    73.82
DZ Bank AG Deutsche Zentr   5.00  3/21/2016   EUR    59.80
DZ Bank AG Deutsche Zentr   5.40  9/19/2016   EUR    57.41
DZ Bank AG Deutsche Zentr   6.30  9/19/2016   EUR    56.28
DZ Bank AG Deutsche Zentr   7.30  9/19/2016   EUR    55.29
DZ Bank AG Deutsche Zentr   5.00  6/20/2016   EUR    60.94
DZ Bank AG Deutsche Zentr   4.80  9/19/2016   EUR    74.69
DZ Bank AG Deutsche Zentr   7.90  6/20/2016   EUR    68.42
DZ Bank AG Deutsche Zentr   7.00  9/19/2016   EUR    68.46
DZ Bank AG Deutsche Zentr   7.30  9/19/2016   EUR    69.59
DZ Bank AG Deutsche Zentr   5.30  3/21/2016   EUR    55.21
DZ Bank AG Deutsche Zentr   7.90  3/21/2016   EUR    48.54
DZ Bank AG Deutsche Zentr   7.10  6/20/2016   EUR    49.76
DZ Bank AG Deutsche Zentr   7.00  6/20/2016   EUR    52.59
DZ Bank AG Deutsche Zentr   7.50  9/19/2016   EUR    54.38
HSBC Trinkaus & Burkhardt  11.20  9/23/2016   EUR    69.74
HSBC Trinkaus & Burkhardt   6.80 12/23/2016   EUR    74.63
HSBC Trinkaus & Burkhardt   8.90  2/26/2016   EUR    71.98
HSBC Trinkaus & Burkhardt   6.10  9/23/2016   EUR    67.40
HSBC Trinkaus & Burkhardt   8.20  5/27/2016   EUR    64.01
HSBC Trinkaus & Burkhardt   8.90  9/23/2016   EUR    59.37
HSBC Trinkaus & Burkhardt   7.00 12/23/2016   EUR    61.66
HSBC Trinkaus & Burkhardt   7.70  5/27/2016   EUR    58.27
HSBC Trinkaus & Burkhardt   9.20  5/27/2016   EUR    74.87
HSBC Trinkaus & Burkhardt  11.20  3/25/2016   EUR    66.87
HSBC Trinkaus & Burkhardt   7.60 12/23/2016   EUR    70.18
HSBC Trinkaus & Burkhardt   8.10  5/27/2016   EUR    69.94
HSBC Trinkaus & Burkhardt  13.50  3/25/2016   EUR    68.41
HSBC Trinkaus & Burkhardt   7.20 12/23/2016   EUR    76.29
HSBC Trinkaus & Burkhardt   8.30  5/27/2016   EUR    74.35
HSBC Trinkaus & Burkhardt  10.40  3/25/2016   EUR    52.49
HSBC Trinkaus & Burkhardt   6.40  3/25/2016   EUR    56.32
HSBC Trinkaus & Burkhardt   7.40  6/24/2016   EUR    58.02
HSBC Trinkaus & Burkhardt   6.80  9/23/2016   EUR    59.00
HSBC Trinkaus & Burkhardt   7.80 12/23/2016   EUR    58.45
HSBC Trinkaus & Burkhardt   9.50  2/26/2016   EUR    54.15
HSBC Trinkaus & Burkhardt   7.80  9/23/2016   EUR    69.76
HSBC Trinkaus & Burkhardt  12.40  2/26/2016   EUR    66.51
HSBC Trinkaus & Burkhardt   6.50  2/26/2016   EUR    74.09
HSBC Trinkaus & Burkhardt   7.10  5/27/2016   EUR    70.34
HSBC Trinkaus & Burkhardt   6.60  9/23/2016   EUR    70.72
HSBC Trinkaus & Burkhardt   6.50 12/23/2016   EUR    53.47
HSBC Trinkaus & Burkhardt   8.00  2/26/2016   EUR    49.99
HSBC Trinkaus & Burkhardt   7.10  5/27/2016   EUR    50.55
HSBC Trinkaus & Burkhardt   6.70  6/24/2016   EUR    67.43
HSBC Trinkaus & Burkhardt  12.40  5/27/2016   EUR    58.44
HSBC Trinkaus & Burkhardt  11.70  6/24/2016   EUR    74.92
HSBC Trinkaus & Burkhardt   6.00  6/24/2016   EUR    68.63
HSBC Trinkaus & Burkhardt   6.20  6/24/2016   EUR    76.77
EFG International Finance   7.20  6/26/2017   GBP    26.36
Vontobel Financial Produc   3.10   1/2/2017   EUR    47.59
Commerzbank AG              5.50  6/23/2016   EUR    74.02
Commerzbank AG              7.25  6/23/2016   EUR    71.68
Commerzbank AG              6.75  6/23/2016   EUR    73.67
Commerzbank AG              8.75  6/23/2016   EUR    71.53
Commerzbank AG              7.25  6/23/2016   EUR    75.16
Commerzbank AG              7.75  6/23/2016   EUR    74.41
Commerzbank AG              8.75  6/23/2016   EUR    72.96
Commerzbank AG              5.25  6/23/2016   EUR    59.98
Commerzbank AG              6.50  6/23/2016   EUR    58.58
Commerzbank AG              7.25  6/23/2016   EUR    57.67
Commerzbank AG              8.25  6/23/2016   EUR    56.91
Commerzbank AG              8.50  6/23/2016   EUR    56.46
Commerzbank AG              5.75  6/23/2016   EUR    70.27
Commerzbank AG              7.25  6/23/2016   EUR    68.21
Commerzbank AG              9.25  6/23/2016   EUR    66.31
Commerzbank AG              6.00  6/23/2016   EUR    56.53
Commerzbank AG              6.75  6/23/2016   EUR    55.64
Commerzbank AG              8.50  6/23/2016   EUR    54.08
Commerzbank AG              6.50  6/23/2016   EUR    71.14
Commerzbank AG             10.25  6/23/2016   EUR    65.60
Commerzbank AG             11.25  6/23/2016   EUR    64.42
Commerzbank AG              5.50  6/23/2016   EUR    77.23
Commerzbank AG              8.25  6/23/2016   EUR    72.67
Commerzbank AG              4.50  6/23/2016   EUR    76.06
Commerzbank AG              6.00  6/23/2016   EUR    73.59
Commerzbank AG              7.00  6/23/2016   EUR    72.52
Commerzbank AG              5.00  6/23/2016   EUR    57.37
Commerzbank AG              5.00  6/23/2016   EUR    70.16
Commerzbank AG              7.00  6/23/2016   EUR    66.54
Commerzbank AG              7.75  6/23/2016   EUR    65.48
Commerzbank AG              9.50  6/23/2016   EUR    63.58
Commerzbank AG              3.75  6/23/2016   EUR    53.57
Commerzbank AG              5.25  6/23/2016   EUR    51.80
Commerzbank AG              6.00  6/23/2016   EUR    50.99
Commerzbank AG              6.75  6/23/2016   EUR    50.22
Commerzbank AG              8.50  6/23/2016   EUR    48.88
Commerzbank AG              5.25  6/23/2016   EUR    59.29
Commerzbank AG              6.00  6/23/2016   EUR    57.97
Commerzbank AG              7.75  6/23/2016   EUR    55.63
Commerzbank AG              9.75  6/23/2016   EUR    53.67
Commerzbank AG              5.75  6/23/2016   EUR    67.97
Commerzbank AG              7.00  6/23/2016   EUR    65.70
Commerzbank AG              8.50  6/23/2016   EUR    63.65
Commerzbank AG             10.25  6/23/2016   EUR    61.90
Commerzbank AG              4.50  5/26/2016   EUR    74.28
Commerzbank AG              6.75  5/26/2016   EUR    71.12
Leonteq Securities AG       5.00  7/10/2018   CHF    74.43
Notenstein La Roche Priva   3.00  7/24/2017   CHF    74.38
Goldman Sachs & Co Wertpa   4.00  2/24/2016   EUR    61.65
Goldman Sachs & Co Wertpa   4.00  9/21/2016   EUR    56.12
Goldman Sachs & Co Wertpa   3.00  4/20/2016   EUR    51.93
Goldman Sachs & Co Wertpa   4.00  7/20/2016   EUR    52.77
Goldman Sachs & Co Wertpa   6.00  3/22/2017   EUR    51.94
Bank Julius Baer & Co Ltd  12.08   7/1/2016   EUR    71.10
Zurcher Kantonalbank Fina   8.12   7/8/2016   CHF    61.64
Commerzbank AG              8.25  6/23/2016   EUR    73.83
Commerzbank AG             11.75  6/23/2016   EUR    67.62
Commerzbank AG              9.25  6/23/2016   EUR    53.53
Commerzbank AG             11.25  6/23/2016   EUR    51.70
Commerzbank AG              8.75  6/23/2016   EUR    73.12
Commerzbank AG             10.00  6/23/2016   EUR    70.67
Commerzbank AG              9.00  6/23/2016   EUR    73.64
Commerzbank AG              9.50  6/23/2016   EUR    77.67
Commerzbank AG             13.25  6/23/2016   EUR    71.65
Commerzbank AG              6.75  6/23/2016   EUR    74.66
Commerzbank AG             10.50  6/23/2016   EUR    68.98
Commerzbank AG             14.50  6/23/2016   EUR    71.08
Vontobel Financial Produc   6.20   7/6/2016   EUR    75.15
Goldman Sachs & Co Wertpa   5.00  9/21/2016   EUR    71.88
Zurcher Kantonalbank Fina   8.50  7/17/2017   CHF    57.43
Zurcher Kantonalbank Fina   5.70  7/17/2017   CHF    71.70
Zurcher Kantonalbank Fina   9.00  7/17/2017   EUR    60.45
LBBW                        3.00  2/26/2016   EUR    72.82
LBBW                        3.00  2/26/2016   EUR    78.25
LBBW                        4.00 12/23/2016   EUR    72.75
LBBW                        3.50 12/23/2016   EUR    79.45
LBBW                        2.00 12/23/2016   EUR    59.42
LBBW                        4.00 12/23/2016   EUR    55.22
LBBW                        3.50 12/23/2016   EUR    58.61
LBBW                        3.00 12/23/2016   EUR    63.39
LBBW                        3.00 12/23/2016   EUR    77.35
Notenstein La Roche Priva   5.00  7/10/2018   CHF    73.40
Notenstein La Roche Priva   6.00  1/10/2017   CHF    60.08
Vontobel Financial Produc   2.05 12/12/2016   EUR    58.94
Vontobel Financial Produc   3.85   9/9/2016   EUR    41.61
Vontobel Financial Produc   6.95   9/9/2016   EUR    38.95
Vontobel Financial Produc   9.05  9/16/2016   EUR    68.16
Vontobel Financial Produc   9.80  3/11/2016   EUR    66.99
Vontobel Financial Produc   4.35  6/10/2016   EUR    61.48
Vontobel Financial Produc   7.35  3/11/2016   EUR    54.49
Vontobel Financial Produc   3.45  12/9/2016   EUR    70.97
Vontobel Financial Produc   9.05  6/17/2016   EUR    53.44
Vontobel Financial Produc   7.95  6/10/2016   EUR    54.23
Leonteq Securities AG/Gue   9.12  7/13/2016   CHF    54.95
UBS AG/London               8.50   1/3/2017   CHF    64.99
UBS AG/London              12.00   7/1/2016   USD    48.80
Vontobel Financial Produc   7.90  3/11/2016   EUR    52.21
Commerzbank AG              8.75  6/23/2016   EUR    74.28
Commerzbank AG              9.00  6/23/2016   EUR    71.89
Commerzbank AG              6.50  6/23/2016   EUR    53.85
Vontobel Financial Produc   3.00   9/9/2016   EUR    71.14
Vontobel Financial Produc   3.05  6/10/2016   EUR    70.65
Vontobel Financial Produc   4.60  6/10/2016   EUR    54.67
Vontobel Financial Produc   4.55  6/17/2016   EUR    76.84
Banque Cantonale Vaudoise   7.25   7/3/2017   CHF    52.87
Deutsche Bank AG            3.20  7/20/2016   EUR    71.30
Deutsche Bank AG            3.20  7/20/2016   EUR    65.60
Deutsche Bank AG            3.20  9/20/2016   EUR    65.80
Deutsche Bank AG            3.20  8/24/2016   EUR    71.30
Deutsche Bank AG            3.20  9/20/2016   EUR    71.30
Deutsche Bank AG            3.20  8/24/2016   EUR    62.20
Deutsche Bank AG            3.20  7/20/2016   EUR    61.90
Deutsche Bank AG            3.20  8/24/2016   EUR    59.90
Deutsche Bank AG            3.20 10/26/2016   EUR    60.40
Deutsche Bank AG            3.20 12/20/2016   EUR    60.80
Deutsche Bank AG            3.20 12/20/2016   EUR    66.10
HSBC Trinkaus & Burkhardt  14.40  6/24/2016   EUR    66.71
HSBC Trinkaus & Burkhardt  12.40 12/23/2016   EUR    69.28
HSBC Trinkaus & Burkhardt   6.90  3/24/2017   EUR    75.09
HSBC Trinkaus & Burkhardt   7.50  2/26/2016   EUR    74.73
HSBC Trinkaus & Burkhardt   7.50  4/22/2016   EUR    74.38
HSBC Trinkaus & Burkhardt   7.50  5/27/2016   EUR    74.58
HSBC Trinkaus & Burkhardt   7.60  7/22/2016   EUR    74.33
HSBC Trinkaus & Burkhardt   6.10 12/23/2016   EUR    71.42
HSBC Trinkaus & Burkhardt   9.50  2/26/2016   EUR    64.59
HSBC Trinkaus & Burkhardt   6.20  9/23/2016   EUR    56.80
HSBC Trinkaus & Burkhardt   6.70  3/24/2017   EUR    57.29
HSBC Trinkaus & Burkhardt  11.30 12/23/2016   EUR    78.42
HSBC Trinkaus & Burkhardt  14.60  2/26/2016   EUR    73.62
HSBC Trinkaus & Burkhardt  13.20  4/22/2016   EUR    75.94
HSBC Trinkaus & Burkhardt  15.40 12/23/2016   EUR    70.20
HSBC Trinkaus & Burkhardt   9.10 12/23/2016   EUR    77.37
HSBC Trinkaus & Burkhardt  15.60  7/22/2016   EUR    71.14
HSBC Trinkaus & Burkhardt  12.80  6/24/2016   EUR    69.43
HSBC Trinkaus & Burkhardt   9.40  9/23/2016   EUR    72.92
HSBC Trinkaus & Burkhardt  10.70  6/24/2016   EUR    56.95
HSBC Trinkaus & Burkhardt   8.50  9/23/2016   EUR    59.09
HSBC Trinkaus & Burkhardt  14.20  6/24/2016   EUR    68.37
HSBC Trinkaus & Burkhardt  10.40  9/23/2016   EUR    72.83
HSBC Trinkaus & Burkhardt  12.30  6/24/2016   EUR    67.09
HSBC Trinkaus & Burkhardt   8.70  9/23/2016   EUR    71.31
Credit Suisse AG/London     6.00  7/29/2016   CHF    76.79
LBBW                        2.60  2/24/2017   EUR    60.74
UBS AG/London               8.50  7/22/2016   CHF    64.91
Vontobel Financial Produc   8.90  3/29/2016   EUR    51.36
Vontobel Financial Produc   8.65  6/24/2016   EUR    53.44
Vontobel Financial Produc   3.20  9/23/2016   EUR    59.93
Vontobel Financial Produc   4.00  3/29/2016   EUR    56.49
Vontobel Financial Produc   8.15  9/23/2016   EUR    55.93
Vontobel Financial Produc  11.50  6/24/2016   EUR    65.72
Vontobel Financial Produc   7.25  6/24/2016   EUR    68.55
Vontobel Financial Produc  11.15  3/29/2016   EUR    62.86
Vontobel Financial Produc   8.10  6/24/2016   EUR    50.52
Banque Cantonale Vaudoise   5.35  7/24/2017   CHF    74.97
Zurcher Kantonalbank Fina   5.00  7/27/2017   CHF    72.08
Vontobel Financial Produc   7.15 10/11/2016   EUR    67.60
DekaBank Deutsche Girozen   2.50  6/25/2020   EUR    76.29
Vontobel Financial Produc  10.30  6/24/2016   EUR    48.79
Vontobel Financial Produc   9.45  6/24/2016   EUR    71.71
Vontobel Financial Produc   7.15  7/22/2016   EUR    74.07
Vontobel Financial Produc   7.60  7/22/2016   EUR    71.51
Vontobel Financial Produc   8.40  7/22/2016   EUR    74.73
Vontobel Financial Produc   6.00  8/26/2016   EUR    66.66
Vontobel Financial Produc   8.00  8/26/2016   EUR    73.41
Vontobel Financial Produc   5.00  8/26/2016   EUR    73.91
Vontobel Financial Produc   6.45  8/26/2016   EUR    67.88
Vontobel Financial Produc   7.45  8/26/2016   EUR    70.65
Commerzbank AG              4.75  7/21/2016   EUR    76.06
Commerzbank AG              5.75  7/21/2016   EUR    74.92
Commerzbank AG              6.50  7/21/2016   EUR    73.74
Commerzbank AG              7.50  7/21/2016   EUR    72.71
Commerzbank AG              8.00  7/21/2016   EUR    72.22
Commerzbank AG              7.00  7/21/2016   EUR    75.34
Commerzbank AG              7.75  7/21/2016   EUR    74.21
Commerzbank AG              4.00  7/21/2016   EUR    57.80
Commerzbank AG              4.25  7/21/2016   EUR    57.27
Commerzbank AG              4.50  7/21/2016   EUR    56.78
Commerzbank AG              5.50  7/21/2016   EUR    56.00
Commerzbank AG              6.25  7/21/2016   EUR    55.18
Commerzbank AG              8.00  7/21/2016   EUR    53.76
Commerzbank AG              5.50  7/21/2016   EUR    71.89
Commerzbank AG              6.00  7/21/2016   EUR    71.46
Commerzbank AG              7.50  7/21/2016   EUR    70.26
Commerzbank AG              8.75  7/21/2016   EUR    68.97
Commerzbank AG              4.75  7/21/2016   EUR    56.49
Commerzbank AG              6.75  7/21/2016   EUR    54.32
Commerzbank AG              8.75  7/21/2016   EUR    52.46
Commerzbank AG             11.00  7/21/2016   EUR    50.95
Commerzbank AG              4.75  7/21/2016   EUR    79.24
Commerzbank AG              6.50  7/21/2016   EUR    76.29
Commerzbank AG              8.75  7/21/2016   EUR    73.71
Commerzbank AG              4.25  7/21/2016   EUR    75.07
Commerzbank AG              7.00  7/21/2016   EUR    71.92
Commerzbank AG              4.50  7/21/2016   EUR    60.42
Zurcher Kantonalbank Fina   6.40   8/7/2017   CHF    75.30
Zurcher Kantonalbank Fina   7.00   8/4/2016   EUR    56.01
DZ Bank AG Deutsche Zentr   5.50  8/26/2016   EUR    70.49
DZ Bank AG Deutsche Zentr   9.75  8/26/2016   EUR    70.55
DZ Bank AG Deutsche Zentr   5.00  8/26/2016   EUR    70.52
DZ Bank AG Deutsche Zentr   5.50  8/26/2016   EUR    57.88
DZ Bank AG Deutsche Zentr   6.25  8/26/2016   EUR    70.92
DZ Bank AG Deutsche Zentr   5.00  8/26/2016   EUR    62.76
DZ Bank AG Deutsche Zentr   5.00  6/24/2016   EUR    73.79
DZ Bank AG Deutsche Zentr   5.75 12/23/2016   EUR    55.41
Bank Julius Baer & Co Ltd   6.70   8/4/2016   EUR    55.30
Commerzbank AG              7.75  7/21/2016   EUR    64.96
Commerzbank AG              8.25  7/21/2016   EUR    64.20
Commerzbank AG              9.50  7/21/2016   EUR    62.96
Commerzbank AG             10.75  6/23/2016   EUR    77.67
Commerzbank AG             18.50  6/23/2016   EUR    67.24
Commerzbank AG             11.25  6/23/2016   EUR    64.72
Commerzbank AG              9.75  6/23/2016   EUR    51.64
Commerzbank AG              9.00  7/21/2016   EUR    69.51
Commerzbank AG              9.00  7/21/2016   EUR    72.93
Commerzbank AG              9.00  7/21/2016   EUR    76.38
Commerzbank AG             11.00  7/21/2016   EUR    69.92
Commerzbank AG             14.25  7/21/2016   EUR    70.16
Commerzbank AG             14.00  7/21/2016   EUR    72.42
Commerzbank AG             11.50  7/21/2016   EUR    80.28
Commerzbank AG             13.50  7/21/2016   EUR    77.72
Commerzbank AG              8.50  7/21/2016   EUR    70.43
Commerzbank AG             12.25  7/21/2016   EUR    65.73
Commerzbank AG              6.00  7/21/2016   EUR    67.11
DekaBank Deutsche Girozen   3.20   7/1/2016   EUR    54.68
Bank Julius Baer & Co Ltd   8.70  7/27/2016   EUR    67.70
DZ Bank AG Deutsche Zentr   6.75  9/19/2016   EUR    73.31
DZ Bank AG Deutsche Zentr   7.25  9/19/2016   EUR    54.13
DZ Bank AG Deutsche Zentr  10.00  6/20/2016   EUR    74.27
DZ Bank AG Deutsche Zentr   6.60  6/20/2016   EUR    53.33
DZ Bank AG Deutsche Zentr   6.10  9/19/2016   EUR    54.64
DZ Bank AG Deutsche Zentr   5.10  9/19/2016   EUR    76.53
DZ Bank AG Deutsche Zentr   8.20  3/21/2016   EUR    70.98
DZ Bank AG Deutsche Zentr   7.60  6/20/2016   EUR    70.52
Commerzbank AG              4.75  7/21/2016   EUR    73.19
Commerzbank AG              6.50  7/21/2016   EUR    71.08
Commerzbank AG              6.00  7/21/2016   EUR    60.12
Commerzbank AG              6.75  7/21/2016   EUR    59.26
Commerzbank AG              7.50  7/21/2016   EUR    58.42
Commerzbank AG              9.25  7/21/2016   EUR    57.01
Commerzbank AG              4.50  7/21/2016   EUR    70.46
Commerzbank AG              5.25  7/21/2016   EUR    69.31
Commerzbank AG              7.50  7/21/2016   EUR    66.18
Commerzbank AG              8.25  7/21/2016   EUR    65.23
Commerzbank AG              4.25  7/21/2016   EUR    59.16
Commerzbank AG              6.75  7/21/2016   EUR    56.67
Commerzbank AG              4.25  7/21/2016   EUR    63.82
Commerzbank AG              6.00  7/21/2016   EUR    61.29
Commerzbank AG              8.25  7/21/2016   EUR    59.25
Commerzbank AG              5.00  7/21/2016   EUR    71.97
Commerzbank AG              6.75  7/21/2016   EUR    69.18
Commerzbank AG              8.75  7/21/2016   EUR    44.04
Commerzbank AG              5.25  7/21/2016   EUR    64.02
Commerzbank AG              8.50  7/21/2016   EUR    60.46
Commerzbank AG              8.75  7/21/2016   EUR    55.98
Commerzbank AG              6.50  7/21/2016   EUR    56.73
Commerzbank AG              7.50  7/21/2016   EUR    67.99
Commerzbank AG              9.75  6/23/2016   EUR    75.61
Commerzbank AG             11.75  6/23/2016   EUR    72.89
Commerzbank AG              7.00  6/23/2016   EUR    55.68
Commerzbank AG             11.00  7/21/2016   EUR    74.30
Commerzbank AG              9.25  7/21/2016   EUR    67.65
Leonteq Securities AG      10.00 12/22/2016   CHF    67.58
Bank Julius Baer & Co Ltd   5.92  7/29/2016   EUR    72.40
Zurcher Kantonalbank Fina   9.03   8/5/2016   CHF    71.97
Vontobel Financial Produc   5.70  3/29/2016   EUR    75.79
Vontobel Financial Produc   8.45  9/23/2016   EUR    76.04
Vontobel Financial Produc  10.65  7/22/2016   EUR    51.73
Vontobel Financial Produc   4.95  3/29/2016   EUR    54.58
Notenstein La Roche Priva   4.50   8/7/2017   CHF    75.30
Vontobel Financial Produc   8.30  7/22/2016   EUR    71.89
Goldman Sachs & Co Wertpa  11.00  3/23/2016   EUR    72.34
Goldman Sachs & Co Wertpa  11.00  4/20/2016   EUR    73.21
Goldman Sachs & Co Wertpa  11.00  6/22/2016   EUR    72.46
Goldman Sachs & Co Wertpa  11.00  7/20/2016   EUR    73.25
Goldman Sachs & Co Wertpa   9.00 12/21/2016   EUR    75.91
Goldman Sachs & Co Wertpa   3.00  4/20/2016   EUR    60.92
Goldman Sachs & Co Wertpa  10.00  8/24/2016   EUR    63.52
Goldman Sachs & Co Wertpa   4.00  9/21/2016   EUR    60.67
Goldman Sachs & Co Wertpa   7.00  6/21/2017   EUR    58.86
Goldman Sachs & Co Wertpa   8.00  5/25/2016   EUR    52.53
Goldman Sachs & Co Wertpa  10.00  8/24/2016   EUR    55.37
Goldman Sachs & Co Wertpa  11.00  8/24/2016   EUR    55.87
Goldman Sachs & Co Wertpa   5.00  9/21/2016   EUR    53.15
Vontobel Financial Produc   9.45  6/24/2016   EUR    57.21
Vontobel Financial Produc   8.05  9/23/2016   EUR    58.41
Vontobel Financial Produc   8.50  7/22/2016   EUR    55.27
Vontobel Financial Produc   4.70  3/29/2016   EUR    57.15
UniCredit Bank AG           4.88  8/25/2017   EUR    65.95
Commerzbank AG              8.50  7/21/2016   EUR    74.70
Commerzbank AG              7.50  7/21/2016   EUR    68.38
Commerzbank AG             19.00  4/21/2016   EUR    64.25
Commerzbank AG              8.00  7/21/2016   EUR    70.52
HSBC Trinkaus & Burkhardt  12.70  9/23/2016   EUR    68.60
HSBC Trinkaus & Burkhardt   8.40  9/23/2016   EUR    73.18
HSBC Trinkaus & Burkhardt   9.00  3/24/2017   EUR    72.45
HSBC Trinkaus & Burkhardt  13.40  2/26/2016   EUR    67.81
HSBC Trinkaus & Burkhardt  12.20  4/22/2016   EUR    68.54
HSBC Trinkaus & Burkhardt  11.10  7/22/2016   EUR    69.84
HSBC Trinkaus & Burkhardt  10.80 12/23/2016   EUR    65.80
HSBC Trinkaus & Burkhardt   9.50 12/23/2016   EUR    66.89
HSBC Trinkaus & Burkhardt   7.00  3/24/2017   EUR    70.35
HSBC Trinkaus & Burkhardt   8.00  7/22/2016   EUR    67.71
HSBC Trinkaus & Burkhardt   6.70  6/24/2016   EUR    55.59
HSBC Trinkaus & Burkhardt   8.50  4/22/2016   EUR    52.34
HSBC Trinkaus & Burkhardt   8.70  7/22/2016   EUR    54.03
HSBC Trinkaus & Burkhardt   9.70  9/23/2016   EUR    80.83
HSBC Trinkaus & Burkhardt  12.10  7/22/2016   EUR    77.67
HSBC Trinkaus & Burkhardt  14.00  6/24/2016   EUR    72.88
HSBC Trinkaus & Burkhardt  10.00  6/24/2016   EUR    78.04
HSBC Trinkaus & Burkhardt  12.70  9/23/2016   EUR    73.19
HSBC Trinkaus & Burkhardt   9.60  9/23/2016   EUR    77.20
HSBC Trinkaus & Burkhardt  12.80 12/23/2016   EUR    72.52
HSBC Trinkaus & Burkhardt  11.60 12/23/2016   EUR    74.23
HSBC Trinkaus & Burkhardt  18.10  4/22/2016   EUR    69.67
UBS AG/London               5.75  7/22/2016   CHF    47.87
UBS AG/London               6.25  7/24/2017   CHF    73.55
LBBW                        2.50  8/24/2018   EUR    68.19
Vontobel Financial Produc   7.40  9/23/2016   EUR    54.87
Vontobel Financial Produc   3.40  6/24/2016   EUR    59.30
Vontobel Financial Produc   9.35  3/29/2016   EUR    52.35
Vontobel Financial Produc   9.60  6/24/2016   EUR    54.61
Vontobel Financial Produc   7.35  3/29/2016   EUR    69.25
Vontobel Financial Produc   9.60  6/24/2016   EUR    64.98
Vontobel Financial Produc   8.30  9/23/2016   EUR    66.49
Vontobel Financial Produc   8.65  3/29/2016   EUR    51.15
Bank Julius Baer & Co Ltd   7.50  7/22/2016   CHF    66.90
Bank Julius Baer & Co Ltd   5.60  7/24/2017   EUR    65.40
Vontobel Financial Produc   5.65  3/29/2016   EUR    53.73
Vontobel Financial Produc   5.70  6/24/2016   EUR    52.43
Vontobel Financial Produc  11.65  3/29/2016   EUR    48.86
Vontobel Financial Produc  10.45  3/29/2016   EUR    70.61
Vontobel Financial Produc   5.00  8/26/2016   EUR    68.04
Vontobel Financial Produc  13.05  3/29/2016   EUR    63.89
Vontobel Financial Produc   6.50  8/26/2016   EUR    61.30
Commerzbank AG              4.50  7/21/2016   EUR    76.75
Commerzbank AG              5.25  7/21/2016   EUR    75.49
Commerzbank AG              6.00  7/21/2016   EUR    74.27
Commerzbank AG              7.00  7/21/2016   EUR    73.22
Commerzbank AG              8.50  7/21/2016   EUR    71.75
Commerzbank AG              6.00  7/21/2016   EUR    76.40
Commerzbank AG              6.50  7/21/2016   EUR    75.86
Commerzbank AG              7.50  7/21/2016   EUR    74.82
Commerzbank AG              8.25  7/21/2016   EUR    73.71
Commerzbank AG              9.25  7/21/2016   EUR    75.06
Commerzbank AG              5.00  7/21/2016   EUR    56.38
Commerzbank AG              5.75  7/21/2016   EUR    55.54
Commerzbank AG              6.75  7/21/2016   EUR    54.83
Commerzbank AG              7.00  7/21/2016   EUR    54.40
Commerzbank AG              7.50  7/21/2016   EUR    54.07
Commerzbank AG              8.50  7/21/2016   EUR    53.47
Commerzbank AG              9.00  7/21/2016   EUR    53.17
Commerzbank AG              5.25  7/21/2016   EUR    72.40
Commerzbank AG              6.50  7/21/2016   EUR    71.07
Commerzbank AG              7.00  7/21/2016   EUR    70.64
Commerzbank AG              7.75  7/21/2016   EUR    69.75
Commerzbank AG              8.25  7/21/2016   EUR    69.37
Commerzbank AG              9.25  7/21/2016   EUR    68.62
Commerzbank AG              5.75  7/21/2016   EUR    55.37
Commerzbank AG              7.75  7/21/2016   EUR    53.32
Commerzbank AG              9.75  7/21/2016   EUR    51.63
Commerzbank AG              5.50  7/21/2016   EUR    77.71
Commerzbank AG              7.50  7/21/2016   EUR    74.92
Commerzbank AG              9.75  7/21/2016   EUR    72.44
Commerzbank AG              5.00  7/21/2016   EUR    73.93
Commerzbank AG              6.00  7/21/2016   EUR    72.91
Vontobel Financial Produc   6.80  1/27/2017   EUR    70.26
UniCredit Bank AG           5.10  8/22/2016   EUR    68.74
Credit Suisse AG/Nassau     6.00   8/7/2017   CHF    68.74
DZ Bank AG Deutsche Zentr   5.00  8/26/2016   EUR    76.84
DZ Bank AG Deutsche Zentr   6.00  8/26/2016   EUR    72.20
DZ Bank AG Deutsche Zentr  10.00  6/24/2016   EUR    76.22
DZ Bank AG Deutsche Zentr   5.75 12/23/2016   EUR    41.48
DZ Bank AG Deutsche Zentr   5.25 12/23/2016   EUR    67.63
DZ Bank AG Deutsche Zentr   5.50 12/23/2016   EUR    75.03
Commerzbank AG              7.25  7/21/2016   EUR    65.68
Commerzbank AG              9.00  7/21/2016   EUR    63.62
Commerzbank AG             10.25  7/21/2016   EUR    62.43
Commerzbank AG             14.50  6/23/2016   EUR    72.01
Commerzbank AG              7.75  6/23/2016   EUR    70.77
Commerzbank AG             15.50  6/23/2016   EUR    60.16
Commerzbank AG              7.75  6/23/2016   EUR    53.64
Commerzbank AG             12.00  6/23/2016   EUR    49.98
Commerzbank AG              6.75  6/23/2016   EUR    73.21
Commerzbank AG              7.50  7/21/2016   EUR    72.46
Commerzbank AG             11.00  7/21/2016   EUR    67.09
Commerzbank AG             12.00  7/21/2016   EUR    69.14
Commerzbank AG              8.00  7/21/2016   EUR    74.17
Commerzbank AG              9.50  7/21/2016   EUR    71.96
Commerzbank AG             12.75  7/21/2016   EUR    68.17
Commerzbank AG             10.00  7/21/2016   EUR    75.19
Commerzbank AG             10.50  7/21/2016   EUR    76.21
Commerzbank AG             12.25  7/21/2016   EUR    74.37
Commerzbank AG              6.75  7/21/2016   EUR    73.16
Commerzbank AG             10.25  7/21/2016   EUR    67.92
Commerzbank AG              5.50  7/21/2016   EUR    67.96
Commerzbank AG              6.75  7/21/2016   EUR    66.43
Bank Julius Baer & Co Ltd   9.00  7/27/2016   USD    73.00
Credit Suisse AG/Nassau     7.00   8/7/2017   CHF    73.51
Vontobel Financial Produc   8.95  3/29/2016   EUR    53.20
Vontobel Financial Produc   8.80  6/24/2016   EUR    54.72
Vontobel Financial Produc   4.70  3/18/2016   EUR    55.27
DZ Bank AG Deutsche Zentr   7.25  3/21/2016   EUR    70.06
DZ Bank AG Deutsche Zentr   7.70  3/21/2016   EUR    51.78
DZ Bank AG Deutsche Zentr   6.70  9/19/2016   EUR    70.88
Commerzbank AG              8.25  7/21/2016   EUR    69.15
Commerzbank AG              8.50  7/21/2016   EUR    57.76
Commerzbank AG              4.00  7/21/2016   EUR    71.76
Commerzbank AG              6.00  7/21/2016   EUR    68.21
Commerzbank AG              6.75  7/21/2016   EUR    67.16
Commerzbank AG              9.25  7/21/2016   EUR    64.42
Commerzbank AG              5.00  7/21/2016   EUR    58.26
Commerzbank AG              6.00  7/21/2016   EUR    57.49
Commerzbank AG              7.75  7/21/2016   EUR    55.99
Commerzbank AG              8.50  7/21/2016   EUR    55.25
Commerzbank AG              5.25  7/21/2016   EUR    62.56
Commerzbank AG              7.00  7/21/2016   EUR    60.18
Commerzbank AG              9.25  7/21/2016   EUR    58.29
Commerzbank AG              9.00  7/21/2016   EUR    66.84
Commerzbank AG              5.00  7/21/2016   EUR    46.93
Commerzbank AG              6.75  7/21/2016   EUR    45.33
Commerzbank AG             10.75  7/21/2016   EUR    42.93
Commerzbank AG              6.75  7/21/2016   EUR    62.13
Commerzbank AG              6.50  7/21/2016   EUR    57.81
Commerzbank AG              5.00  7/21/2016   EUR    58.38
Commerzbank AG              8.25  7/21/2016   EUR    55.28
Commerzbank AG              5.25  7/21/2016   EUR    70.40
Commerzbank AG              8.75  6/23/2016   EUR    54.04
Commerzbank AG             10.75  6/23/2016   EUR    52.68
Commerzbank AG              9.50  7/21/2016   EUR    76.23
Commerzbank AG             12.50  7/21/2016   EUR    72.47
Commerzbank AG              7.00  7/21/2016   EUR    70.07
Vontobel Financial Produc   5.00 12/16/2016   EUR    58.62
Zurcher Kantonalbank Fina   7.52   8/5/2016   EUR    66.58
Bank J Safra Sarasin AG/G   7.45  7/28/2016   CHF    72.10
Vontobel Financial Produc   8.95  7/22/2016   EUR    62.29
Vontobel Financial Produc   8.15  9/23/2016   EUR    63.22
Vontobel Financial Produc  10.60  3/29/2016   EUR    61.47
Vontobel Financial Produc   7.80  7/22/2016   EUR    53.75
Vontobel Financial Produc   5.30  7/22/2016   EUR    56.28
Vontobel Financial Produc   5.45  6/24/2016   EUR    55.94
Vontobel Financial Produc   2.45  3/29/2016   EUR    58.54
Notenstein La Roche Priva   2.75   8/7/2019   CHF    68.63
Notenstein La Roche Priva   3.10  8/14/2019   CHF    70.62
Leonteq Securities AG       5.00   8/7/2019   CHF    71.24
Vontobel Financial Produc   7.60  9/23/2016   EUR    72.83
Goldman Sachs & Co Wertpa  11.00  3/23/2016   EUR    72.34
Goldman Sachs & Co Wertpa  11.00  4/20/2016   EUR    73.21
Goldman Sachs & Co Wertpa  11.00  6/22/2016   EUR    72.46
Goldman Sachs & Co Wertpa  11.00  7/20/2016   EUR    73.25
Goldman Sachs & Co Wertpa   9.00 12/21/2016   EUR    75.91
Goldman Sachs & Co Wertpa   3.00  5/25/2016   EUR    59.79
Goldman Sachs & Co Wertpa  10.00  8/24/2016   EUR    63.52
Goldman Sachs & Co Wertpa   7.00  8/24/2016   EUR    75.34
Goldman Sachs & Co Wertpa   3.00  6/22/2016   EUR    51.35
Goldman Sachs & Co Wertpa   3.00  7/20/2016   EUR    51.58
Goldman Sachs & Co Wertpa   7.00  6/21/2017   EUR    58.86
Goldman Sachs & Co Wertpa   7.00  6/21/2017   EUR    58.86
Goldman Sachs & Co Wertpa   5.00  8/24/2016   EUR    52.88
Goldman Sachs & Co Wertpa   8.00  8/24/2016   EUR    54.37
Goldman Sachs & Co Wertpa  11.00  8/24/2016   EUR    55.87
Vontobel Financial Produc   9.05  3/29/2016   EUR    55.02
Vontobel Financial Produc   5.30  7/22/2016   EUR    58.18
Commerzbank AG              6.50  7/21/2016   EUR    72.25
Commerzbank AG              7.50  7/21/2016   EUR    53.03
Commerzbank AG              6.50  7/21/2016   EUR    73.73
Banque Cantonale Vaudoise   6.75  8/12/2016   CHF    75.08
Landesbank Hessen-Thuerin   4.50 12/14/2016   EUR    63.10
Landesbank Hessen-Thuerin   3.30  6/14/2017   EUR    71.00
Vontobel Financial Produc  10.00  9/23/2016   EUR    75.49
Goldman Sachs & Co Wertpa  25.00  5/25/2016   EUR    70.97
Goldman Sachs & Co Wertpa  23.00  7/20/2016   EUR    49.20
Goldman Sachs & Co Wertpa  18.00  8/24/2016   EUR    51.13
Goldman Sachs & Co Wertpa  21.00  8/24/2016   EUR    50.42
Goldman Sachs & Co Wertpa  22.00  8/24/2016   EUR    65.87
Goldman Sachs & Co Wertpa   9.00  4/20/2016   EUR    72.25
Goldman Sachs & Co Wertpa  17.00 12/21/2016   EUR    68.65
Goldman Sachs & Co Wertpa  10.00  3/22/2017   EUR    72.20
Goldman Sachs & Co Wertpa  20.00  5/25/2016   EUR    72.47
Goldman Sachs & Co Wertpa  21.00  7/20/2016   EUR    72.11
Goldman Sachs & Co Wertpa  18.00  9/21/2016   EUR    73.69
Bank Julius Baer & Co Ltd  10.00  8/12/2016   EUR    39.35
Vontobel Financial Produc   5.35 12/16/2016   EUR    58.93
Vontobel Financial Produc   6.20  8/26/2016   EUR    70.41
Vontobel Financial Produc   6.20  8/26/2016   EUR    70.26
Zurcher Kantonalbank Fina   5.50  2/17/2017   EUR    75.27
Vontobel Financial Produc   7.00   9/2/2016   EUR    73.57
Commerzbank AG              9.00  6/23/2016   EUR    74.81
Commerzbank AG              9.50  6/23/2016   EUR    74.28
Commerzbank AG             10.00  6/23/2016   EUR    73.75
Commerzbank AG              9.00  6/23/2016   EUR    74.98
Commerzbank AG              9.50  6/23/2016   EUR    74.44
Commerzbank AG             10.00  6/23/2016   EUR    73.91
Commerzbank AG             10.00  6/23/2016   EUR    75.49
Commerzbank AG             10.75  6/23/2016   EUR    75.04
Commerzbank AG              9.75  6/23/2016   EUR    52.99
Commerzbank AG             10.25  6/23/2016   EUR    52.65
Commerzbank AG             10.75  6/23/2016   EUR    52.35
Commerzbank AG              9.50  6/23/2016   EUR    70.70
Commerzbank AG             10.00  6/23/2016   EUR    70.29
Commerzbank AG             10.50  6/23/2016   EUR    69.87
Commerzbank AG             12.75  6/23/2016   EUR    52.27
Commerzbank AG             13.25  6/23/2016   EUR    51.97
Commerzbank AG             13.50  6/23/2016   EUR    51.61
Commerzbank AG             10.25  6/23/2016   EUR    72.70
Commerzbank AG             10.75  6/23/2016   EUR    72.19
Commerzbank AG             11.25  6/23/2016   EUR    71.70
Commerzbank AG              7.50  6/23/2016   EUR    73.72
Commerzbank AG              8.00  6/23/2016   EUR    73.19
Commerzbank AG             10.25  6/23/2016   EUR    57.49
Commerzbank AG             10.75  6/23/2016   EUR    57.13
Commerzbank AG             11.25  6/23/2016   EUR    56.78
Commerzbank AG              9.75  6/23/2016   EUR    65.78
Commerzbank AG             10.25  6/23/2016   EUR    65.32
Commerzbank AG             10.75  6/23/2016   EUR    64.91
Commerzbank AG              9.25  6/23/2016   EUR    56.89
Commerzbank AG              9.75  6/23/2016   EUR    56.52
Commerzbank AG             10.25  6/23/2016   EUR    56.17
Commerzbank AG             10.50  6/23/2016   EUR    60.82
Commerzbank AG             11.00  6/23/2016   EUR    60.43
Commerzbank AG             11.50  6/23/2016   EUR    60.04
UniCredit Bank AG           5.10  6/15/2016   EUR    62.01
Leonteq Securities AG       6.77  8/17/2017   CHF    54.18
Zurcher Kantonalbank Fina   7.70  8/25/2016   CHF    73.01
DZ Bank AG Deutsche Zentr   5.00  9/23/2016   EUR    75.40
DZ Bank AG Deutsche Zentr   5.00  6/24/2016   EUR    75.84
DZ Bank AG Deutsche Zentr   5.75 12/23/2016   EUR    76.16
DZ Bank AG Deutsche Zentr   4.70  8/24/2016   EUR    56.95
DZ Bank AG Deutsche Zentr   5.75 12/23/2016   EUR    56.30
DZ Bank AG Deutsche Zentr  14.00  2/26/2016   EUR    54.04
DZ Bank AG Deutsche Zentr   6.50  3/29/2016   EUR    56.64
DZ Bank AG Deutsche Zentr   5.75  6/24/2016   EUR    55.56
DZ Bank AG Deutsche Zentr  14.25  2/26/2016   EUR    67.86
DZ Bank AG Deutsche Zentr  16.00  2/26/2016   EUR    75.15
Banque Cantonale Vaudoise   8.25  8/17/2016   EUR    57.64
Vontobel Financial Produc   6.25  12/2/2016   EUR    75.37
Vontobel Financial Produc   5.10  12/2/2016   EUR    56.27
Vontobel Financial Produc   6.20  8/26/2016   EUR    71.37
Vontobel Financial Produc   7.85  8/26/2016   EUR    71.21
Vontobel Financial Produc  22.80  8/26/2016   EUR    60.08
Leonteq Securities AG       8.00   9/2/2016   CHF    68.19
Leonteq Securities AG       5.25   9/2/2016   CHF    76.22
DZ Bank AG Deutsche Zentr   7.25  3/29/2016   EUR    57.37
DZ Bank AG Deutsche Zentr   6.50  6/24/2016   EUR    76.19
DekaBank Deutsche Girozen   3.00  1/15/2021   EUR    73.92
Deutsche Bank AG            4.20  9/20/2016   EUR    71.90
Deutsche Bank AG            6.20  9/20/2016   EUR    73.00
Deutsche Bank AG            5.20  9/20/2016   EUR    72.50
Deutsche Bank AG            5.20 12/20/2016   EUR    73.00
Deutsche Bank AG            6.20 12/20/2016   EUR    73.80
Deutsche Bank AG            4.20 12/20/2016   EUR    72.10
Deutsche Bank AG            6.20  9/20/2016   EUR    61.90
Deutsche Bank AG            6.20  9/20/2016   EUR    59.80
Deutsche Bank AG            4.20  9/20/2016   EUR    58.60
Deutsche Bank AG            4.20 12/20/2016   EUR    59.60
Notenstein La Roche Priva   5.00  8/18/2016   CHF    69.18
Deutsche Bank AG            4.20  6/21/2016   EUR    60.40
Deutsche Bank AG            6.20  9/20/2016   EUR    65.90
Deutsche Bank AG            5.20  9/20/2016   EUR    65.30
Deutsche Bank AG            4.20  9/20/2016   EUR    64.70
Deutsche Bank AG            4.20  9/20/2016   EUR    61.30
Deutsche Bank AG            5.20  9/20/2016   EUR    61.90
Deutsche Bank AG            6.20  9/20/2016   EUR    62.40
Deutsche Bank AG            5.20  9/20/2016   EUR    58.70
Deutsche Bank AG            4.20  9/20/2016   EUR    58.10
Deutsche Bank AG            6.20  9/20/2016   EUR    59.30
Deutsche Bank AG            6.20 12/20/2016   EUR    67.00
Deutsche Bank AG            5.20 12/20/2016   EUR    66.20
Deutsche Bank AG            4.20 12/20/2016   EUR    65.40
Deutsche Bank AG            5.20 12/20/2016   EUR    62.90
Deutsche Bank AG            6.20 12/20/2016   EUR    63.70
Deutsche Bank AG            4.20 12/20/2016   EUR    62.00
Deutsche Bank AG            5.20 12/20/2016   EUR    59.80
Deutsche Bank AG            6.20 12/20/2016   EUR    60.70
Deutsche Bank AG            4.20 12/20/2016   EUR    59.00
Deutsche Bank AG            5.20  3/22/2016   EUR    73.00
Deutsche Bank AG            5.20  3/22/2016   EUR    69.00
Deutsche Bank AG            6.20  3/22/2016   EUR    69.10
Deutsche Bank AG            4.20  3/22/2016   EUR    68.90
Deutsche Bank AG            5.20  3/22/2016   EUR    57.60
Deutsche Bank AG            6.20  3/22/2016   EUR    57.70
Deutsche Bank AG            4.20  3/22/2016   EUR    57.50
Deutsche Bank AG            6.20  3/22/2016   EUR    54.70
Deutsche Bank AG            5.20  3/22/2016   EUR    54.60
Deutsche Bank AG            4.20  3/22/2016   EUR    54.50
Deutsche Bank AG            4.20  3/22/2016   EUR    60.30
Deutsche Bank AG            5.20  3/21/2017   EUR    73.50
Deutsche Bank AG            7.20  3/21/2017   EUR    70.80
Deutsche Bank AG            5.20  3/21/2017   EUR    68.60
Deutsche Bank AG            5.20  3/21/2017   EUR    63.70
Deutsche Bank AG            7.20  3/21/2017   EUR    65.90
Deutsche Bank AG            5.20  3/21/2017   EUR    61.70
Deutsche Bank AG            7.20  3/21/2017   EUR    63.90
Deutsche Bank AG            7.20  3/21/2017   EUR    62.00
Deutsche Bank AG            5.20  3/21/2017   EUR    59.80
Deutsche Bank AG            7.20  3/21/2017   EUR    60.20
Deutsche Bank AG            5.20  3/21/2017   EUR    58.00
Deutsche Bank AG            5.20  3/21/2017   EUR    56.30
Deutsche Bank AG            7.20  3/21/2017   EUR    58.50
Deutsche Bank AG            5.20  3/21/2017   EUR    70.00
Deutsche Bank AG            5.20  3/21/2017   EUR    78.10
Deutsche Bank AG            7.20  3/21/2017   EUR    78.00
Deutsche Bank AG            5.20  3/21/2017   EUR    75.80
Deutsche Bank AG            5.20  3/21/2017   EUR    77.90
Deutsche Bank AG            5.20  3/21/2017   EUR    63.20
Deutsche Bank AG            7.20  3/21/2017   EUR    65.40
Deutsche Bank AG            7.20  3/21/2017   EUR    62.70
Deutsche Bank AG            5.20  3/21/2017   EUR    60.50
Deutsche Bank AG            5.20  3/21/2017   EUR    58.00
Deutsche Bank AG            7.20  3/21/2017   EUR    60.20
Deutsche Bank AG            5.20  6/21/2016   EUR    73.20
Deutsche Bank AG            5.20  9/20/2016   EUR    74.10
Deutsche Bank AG            5.20 12/20/2016   EUR    77.40
Deutsche Bank AG            5.20 12/20/2016   EUR    75.00
Deutsche Bank AG            5.20 12/20/2016   EUR    76.90
Deutsche Bank AG            5.20  6/21/2016   EUR    61.40
Deutsche Bank AG            4.20  6/21/2016   EUR    61.10
Deutsche Bank AG            6.20  6/21/2016   EUR    61.70
Deutsche Bank AG            5.20  6/21/2016   EUR    58.30
Deutsche Bank AG            6.20  6/21/2016   EUR    58.60
Deutsche Bank AG            6.20  9/20/2016   EUR    62.50
Deutsche Bank AG            5.20  9/20/2016   EUR    61.90
Deutsche Bank AG            4.20  9/20/2016   EUR    61.40
Deutsche Bank AG            6.20  9/20/2016   EUR    59.60
Deutsche Bank AG            5.20  9/20/2016   EUR    59.00
Deutsche Bank AG            6.20 12/20/2016   EUR    63.40
Deutsche Bank AG            5.20 12/20/2016   EUR    62.50
Deutsche Bank AG            4.20 12/20/2016   EUR    61.70
Deutsche Bank AG            5.20 12/20/2016   EUR    59.70
Deutsche Bank AG            6.20 12/20/2016   EUR    60.50
Deutsche Bank AG            5.20 12/20/2016   EUR    73.70
Deutsche Bank AG            5.20 12/20/2016   EUR    70.90
Deutsche Bank AG            5.20  3/21/2017   EUR    73.60
Deutsche Bank AG            7.20  3/21/2017   EUR    75.80
Deutsche Bank AG            7.20  3/21/2017   EUR    73.10
Deutsche Bank AG            5.20  3/21/2017   EUR    70.90
Deutsche Bank AG            7.20  3/21/2017   EUR    70.60
Deutsche Bank AG            5.20  3/21/2017   EUR    68.40
Deutsche Bank AG            5.20  3/21/2017   EUR    66.00
Deutsche Bank AG            7.20  3/21/2017   EUR    68.20
Deutsche Bank AG            7.20  3/21/2017   EUR    69.40
Deutsche Bank AG            5.20  3/21/2017   EUR    67.20
Deutsche Bank AG            7.20  3/21/2017   EUR    66.20
Deutsche Bank AG            5.20  3/21/2017   EUR    64.00
Deutsche Bank AG            5.20  3/21/2017   EUR    61.00
Deutsche Bank AG            7.20  3/21/2017   EUR    63.20
Deutsche Bank AG            7.20  7/20/2016   EUR    75.30
Deutsche Bank AG            7.20  8/24/2016   EUR    75.90
Deutsche Bank AG            5.20 10/26/2016   EUR    75.70
Deutsche Bank AG            5.20 11/23/2016   EUR    76.10
Deutsche Bank AG            7.20  7/20/2016   EUR    76.70
Deutsche Bank AG            7.20  7/20/2016   EUR    73.00
Deutsche Bank AG            5.20  7/20/2016   EUR    72.10
Deutsche Bank AG            7.20  7/20/2016   EUR    67.20
Deutsche Bank AG            5.20  8/24/2016   EUR    72.30
Deutsche Bank AG            7.20  8/24/2016   EUR    73.30
Deutsche Bank AG            7.20  8/24/2016   EUR    67.80
Deutsche Bank AG            7.20 10/26/2016   EUR    74.00
Deutsche Bank AG            5.20 10/26/2016   EUR    72.70
Deutsche Bank AG            5.20 10/26/2016   EUR    67.30
Deutsche Bank AG            7.20 10/26/2016   EUR    68.70
Deutsche Bank AG            5.20 11/23/2016   EUR    72.80
Deutsche Bank AG            7.20 11/23/2016   EUR    74.30
Deutsche Bank AG            7.20 11/23/2016   EUR    69.10
Deutsche Bank AG            5.20 11/23/2016   EUR    67.50
Deutsche Bank AG            7.20  7/20/2016   EUR    61.40
Deutsche Bank AG            7.20  7/20/2016   EUR    59.30
Deutsche Bank AG            7.20  7/20/2016   EUR    57.30
Deutsche Bank AG            7.20  7/20/2016   EUR    55.40
Deutsche Bank AG            7.20  7/20/2016   EUR    53.70
Deutsche Bank AG            7.20  8/24/2016   EUR    62.00
Deutsche Bank AG            7.20  8/24/2016   EUR    59.90
Deutsche Bank AG            7.20  8/24/2016   EUR    58.00
Deutsche Bank AG            7.20  8/24/2016   EUR    56.10
Deutsche Bank AG            7.20  8/24/2016   EUR    54.40
Deutsche Bank AG            5.20 10/26/2016   EUR    61.80
Deutsche Bank AG            7.20 10/26/2016   EUR    63.20
Deutsche Bank AG            7.20 10/26/2016   EUR    61.10
Deutsche Bank AG            5.20 10/26/2016   EUR    59.70
Deutsche Bank AG            7.20 10/26/2016   EUR    59.20
Deutsche Bank AG            5.20 10/26/2016   EUR    57.80
Deutsche Bank AG            7.20 10/26/2016   EUR    57.30
Deutsche Bank AG            5.20 10/26/2016   EUR    56.00
Deutsche Bank AG            5.20 10/26/2016   EUR    54.20
Deutsche Bank AG            7.20 10/26/2016   EUR    55.60
Deutsche Bank AG            7.20 11/23/2016   EUR    63.70
Deutsche Bank AG            5.20 11/23/2016   EUR    62.10
Deutsche Bank AG            5.20 11/23/2016   EUR    60.10
Deutsche Bank AG            7.20 11/23/2016   EUR    61.60
Deutsche Bank AG            5.20 11/23/2016   EUR    58.20
Deutsche Bank AG            7.20 11/23/2016   EUR    59.70
Deutsche Bank AG            5.20 11/23/2016   EUR    56.30
Deutsche Bank AG            7.20 11/23/2016   EUR    57.90
Deutsche Bank AG            7.20 11/23/2016   EUR    56.20
Deutsche Bank AG            5.20 11/23/2016   EUR    54.60
Deutsche Bank AG            7.20  7/20/2016   EUR    69.20
Deutsche Bank AG            5.20  7/20/2016   EUR    68.30
Deutsche Bank AG            5.20  8/24/2016   EUR    68.50
Deutsche Bank AG            7.20  8/24/2016   EUR    69.50
Deutsche Bank AG            5.20 10/26/2016   EUR    68.80
Deutsche Bank AG            7.20 10/26/2016   EUR    70.20
Deutsche Bank AG            5.20 11/23/2016   EUR    69.00
Deutsche Bank AG            7.20 11/23/2016   EUR    70.50
Deutsche Bank AG            7.20  7/20/2016   EUR    76.90
Deutsche Bank AG            7.20  7/20/2016   EUR    70.60
Deutsche Bank AG            5.20  7/20/2016   EUR    69.80
Deutsche Bank AG            7.20  8/24/2016   EUR    77.40
Deutsche Bank AG            7.20  8/24/2016   EUR    71.20
Deutsche Bank AG            5.20  8/24/2016   EUR    70.20
Deutsche Bank AG            5.20 10/26/2016   EUR    76.90
Deutsche Bank AG            7.20 10/26/2016   EUR    78.30
Deutsche Bank AG            5.20 10/26/2016   EUR    70.90
Deutsche Bank AG            7.20 10/26/2016   EUR    72.30
Deutsche Bank AG            7.20 11/23/2016   EUR    78.70
Deutsche Bank AG            5.20 11/23/2016   EUR    77.20
Deutsche Bank AG            5.20 11/23/2016   EUR    71.20
Deutsche Bank AG            7.20 11/23/2016   EUR    72.80
Deutsche Bank AG            7.20  7/20/2016   EUR    75.90
Deutsche Bank AG            7.20  8/24/2016   EUR    76.50
Deutsche Bank AG            7.20 10/26/2016   EUR    77.60
Deutsche Bank AG            5.20 10/26/2016   EUR    76.20
Deutsche Bank AG            7.20 11/23/2016   EUR    78.10
Deutsche Bank AG            5.20 11/23/2016   EUR    76.50
Deutsche Bank AG            5.20  7/20/2016   EUR    61.60
Deutsche Bank AG            7.20  7/20/2016   EUR    62.40
Deutsche Bank AG            7.20  7/20/2016   EUR    59.30
Deutsche Bank AG            5.20  7/20/2016   EUR    58.50
Deutsche Bank AG            7.20  7/20/2016   EUR    56.50
Deutsche Bank AG            5.20  8/24/2016   EUR    61.80
Deutsche Bank AG            7.20  8/24/2016   EUR    62.80
Deutsche Bank AG            7.20  8/24/2016   EUR    59.80
Deutsche Bank AG            5.20  8/24/2016   EUR    58.80
Deutsche Bank AG            7.20  8/24/2016   EUR    57.00
Deutsche Bank AG            5.20 10/26/2016   EUR    62.20
Deutsche Bank AG            7.20 10/26/2016   EUR    63.60
Deutsche Bank AG            5.20 10/26/2016   EUR    59.30
Deutsche Bank AG            7.20 10/26/2016   EUR    60.60
Deutsche Bank AG            7.20 10/26/2016   EUR    58.00
Deutsche Bank AG            5.20 10/26/2016   EUR    56.60
Deutsche Bank AG            7.20 11/23/2016   EUR    63.90
Deutsche Bank AG            5.20 11/23/2016   EUR    62.30
Deutsche Bank AG            5.20 11/23/2016   EUR    59.50
Deutsche Bank AG            7.20 11/23/2016   EUR    61.00
Deutsche Bank AG            5.20 11/23/2016   EUR    56.80
Deutsche Bank AG            7.20 11/23/2016   EUR    58.40
Deutsche Bank AG            7.20  7/20/2016   EUR    73.20
Deutsche Bank AG            5.20  7/20/2016   EUR    72.40
Deutsche Bank AG            7.20  7/20/2016   EUR    70.20
Deutsche Bank AG            7.20  7/20/2016   EUR    67.40
Deutsche Bank AG            7.20  7/20/2016   EUR    64.70
Deutsche Bank AG            7.20  8/24/2016   EUR    73.70
Deutsche Bank AG            5.20  8/24/2016   EUR    72.70
Deutsche Bank AG            7.20  8/24/2016   EUR    70.70
Deutsche Bank AG            7.20  8/24/2016   EUR    68.00
Deutsche Bank AG            7.20  8/24/2016   EUR    65.40
Deutsche Bank AG            7.20 10/26/2016   EUR    74.60
Deutsche Bank AG            5.20 10/26/2016   EUR    73.20
Deutsche Bank AG            7.20 10/26/2016   EUR    71.70
Deutsche Bank AG            5.20 10/26/2016   EUR    70.30
Deutsche Bank AG            7.20 10/26/2016   EUR    69.00
Deutsche Bank AG            5.20 10/26/2016   EUR    67.60
Deutsche Bank AG            5.20 10/26/2016   EUR    65.10
Deutsche Bank AG            7.20 10/26/2016   EUR    66.50
Deutsche Bank AG            5.20 11/23/2016   EUR    73.40
Deutsche Bank AG            7.20 11/23/2016   EUR    75.00
Deutsche Bank AG            5.20 11/23/2016   EUR    70.60
Deutsche Bank AG            7.20 11/23/2016   EUR    72.10
Deutsche Bank AG            5.20 11/23/2016   EUR    67.90
Deutsche Bank AG            7.20 11/23/2016   EUR    69.50
Deutsche Bank AG            7.20 11/23/2016   EUR    67.00
Deutsche Bank AG            5.20 11/23/2016   EUR    65.40
Deutsche Bank AG            5.20   7/6/2016   EUR    64.50
Deutsche Bank AG            7.20   7/6/2016   EUR    65.30
Deutsche Bank AG            5.20   7/6/2016   EUR    61.00
Deutsche Bank AG            7.20   7/6/2016   EUR    61.70
Deutsche Bank AG            7.20   7/6/2016   EUR    58.50
Deutsche Bank AG            5.20   7/6/2016   EUR    57.70
Deutsche Bank AG            5.20  8/24/2016   EUR    65.00
Deutsche Bank AG            7.20  8/24/2016   EUR    66.10
Deutsche Bank AG            5.20  8/24/2016   EUR    61.50
Deutsche Bank AG            7.20  8/24/2016   EUR    62.60
Deutsche Bank AG            7.20  8/24/2016   EUR    59.40
Deutsche Bank AG            5.20  8/24/2016   EUR    58.40
Deutsche Bank AG            7.20 10/26/2016   EUR    67.10
Deutsche Bank AG            5.20 10/26/2016   EUR    65.70
Deutsche Bank AG            5.20 10/26/2016   EUR    62.30
Deutsche Bank AG            7.20 10/26/2016   EUR    63.70
Deutsche Bank AG            5.20 10/26/2016   EUR    59.20
Deutsche Bank AG            7.20 10/26/2016   EUR    60.50
Deutsche Bank AG            5.20 11/23/2016   EUR    65.90
Deutsche Bank AG            7.20 11/23/2016   EUR    67.50
Deutsche Bank AG            5.20 11/23/2016   EUR    62.60
Deutsche Bank AG            7.20 11/23/2016   EUR    64.10
Deutsche Bank AG            7.20 11/23/2016   EUR    61.00
Deutsche Bank AG            5.20 11/23/2016   EUR    59.50
DZ Bank AG Deutsche Zentr   5.20  3/21/2016   EUR    62.65
DZ Bank AG Deutsche Zentr   8.30  3/21/2016   EUR    59.81
DZ Bank AG Deutsche Zentr   6.70  6/20/2016   EUR    63.70
DZ Bank AG Deutsche Zentr   5.10  9/19/2016   EUR    64.17
DZ Bank AG Deutsche Zentr   4.90  3/21/2016   EUR    62.18
DZ Bank AG Deutsche Zentr   7.60  9/19/2016   EUR    61.61
DZ Bank AG Deutsche Zentr  10.00  3/21/2016   EUR    70.26
DZ Bank AG Deutsche Zentr   8.50  3/21/2016   EUR    66.99
DZ Bank AG Deutsche Zentr  12.00  6/20/2016   EUR    70.69
DZ Bank AG Deutsche Zentr  10.00  6/20/2016   EUR    67.26
DZ Bank AG Deutsche Zentr   8.25  6/20/2016   EUR    69.66
DZ Bank AG Deutsche Zentr   9.50  3/21/2016   EUR    70.92
DZ Bank AG Deutsche Zentr   9.75  6/20/2016   EUR    70.69
DZ Bank AG Deutsche Zentr   6.50  6/20/2016   EUR    52.59
DZ Bank AG Deutsche Zentr   6.00  9/19/2016   EUR    53.88
DZ Bank AG Deutsche Zentr   6.75  9/19/2016   EUR    54.31
DZ Bank AG Deutsche Zentr   8.50  3/21/2016   EUR    67.63
DZ Bank AG Deutsche Zentr   7.25  3/21/2016   EUR    72.07
DZ Bank AG Deutsche Zentr   7.00  6/20/2016   EUR    71.19
DZ Bank AG Deutsche Zentr   7.25  9/19/2016   EUR    72.94
Notenstein La Roche Priva   6.34  8/19/2016   CHF    58.93
Vontobel Financial Produc   5.00 12/23/2016   EUR    61.98
Vontobel Financial Produc   5.00 12/23/2016   EUR    72.33
Vontobel Financial Produc  13.40 12/23/2016   EUR    65.24
Vontobel Financial Produc   7.60 12/23/2016   EUR    66.28
Vontobel Financial Produc   5.45 12/23/2016   EUR    69.35
Vontobel Financial Produc   7.30  12/2/2016   EUR    68.86
Vontobel Financial Produc   6.35  8/26/2016   EUR    77.59
Vontobel Financial Produc   6.75  8/26/2016   EUR    58.04
Vontobel Financial Produc   9.00  8/26/2016   EUR    73.91
DekaBank Deutsche Girozen   5.20  8/12/2016   EUR    73.06
DekaBank Deutsche Girozen   5.40  8/12/2016   EUR    55.06
DZ Bank AG Deutsche Zentr   4.90  6/20/2016   EUR    60.30
DZ Bank AG Deutsche Zentr   5.60  9/19/2016   EUR    66.41
Goldman Sachs & Co Wertpa  11.00  9/21/2016   EUR    58.33
Goldman Sachs & Co Wertpa   7.00  4/20/2016   EUR    71.80
Goldman Sachs & Co Wertpa   7.00  4/20/2016   EUR    71.80
Goldman Sachs & Co Wertpa   7.00  5/25/2016   EUR    71.86
Goldman Sachs & Co Wertpa   8.00  5/25/2016   EUR    72.12
Goldman Sachs & Co Wertpa   4.00  6/22/2016   EUR    68.92
Goldman Sachs & Co Wertpa   8.00  6/22/2016   EUR    70.23
Goldman Sachs & Co Wertpa   8.00  6/22/2016   EUR    70.23
Goldman Sachs & Co Wertpa  13.00  6/22/2016   EUR    71.87
Goldman Sachs & Co Wertpa   5.00  8/24/2016   EUR    69.25
Goldman Sachs & Co Wertpa  13.00  7/20/2016   EUR    72.49
Goldman Sachs & Co Wertpa  12.00  8/24/2016   EUR    72.74
Goldman Sachs & Co Wertpa  11.00  9/21/2016   EUR    72.71
Goldman Sachs & Co Wertpa  11.00  9/21/2016   EUR    72.71
Goldman Sachs & Co Wertpa   8.00 12/21/2016   EUR    72.01
Goldman Sachs & Co Wertpa   5.00 12/21/2016   EUR    69.55
Goldman Sachs & Co Wertpa   8.00 12/21/2016   EUR    72.01
Goldman Sachs & Co Wertpa  12.00  3/23/2016   EUR    58.16
Goldman Sachs & Co Wertpa  11.00  4/20/2016   EUR    58.85
Goldman Sachs & Co Wertpa  11.00  4/20/2016   EUR    58.85
Goldman Sachs & Co Wertpa   5.00  5/25/2016   EUR    58.18
Goldman Sachs & Co Wertpa   7.00 12/21/2016   EUR    61.29
Goldman Sachs & Co Wertpa  13.00  5/25/2016   EUR    59.38
Goldman Sachs & Co Wertpa  12.00  4/20/2016   EUR    58.58
Goldman Sachs & Co Wertpa   8.00  7/20/2016   EUR    59.28
Goldman Sachs & Co Wertpa  10.00  7/20/2016   EUR    60.09
Goldman Sachs & Co Wertpa  10.00  8/24/2016   EUR    60.87
Goldman Sachs & Co Wertpa  10.00  8/24/2016   EUR    60.87
Goldman Sachs & Co Wertpa  11.00  8/24/2016   EUR    61.37
Goldman Sachs & Co Wertpa   8.00  9/21/2016   EUR    60.33
Goldman Sachs & Co Wertpa  10.00  9/21/2016   EUR    61.48
Goldman Sachs & Co Wertpa  10.00  9/21/2016   EUR    61.48
Goldman Sachs & Co Wertpa   6.00 12/21/2016   EUR    60.34
Goldman Sachs & Co Wertpa   8.00 12/21/2016   EUR    61.98
Goldman Sachs & Co Wertpa   8.00 12/21/2016   EUR    61.98
Goldman Sachs & Co Wertpa   7.00  3/22/2017   EUR    62.56
Goldman Sachs & Co Wertpa   8.00  3/22/2017   EUR    63.63
Goldman Sachs & Co Wertpa   8.00  3/22/2017   EUR    63.63
Goldman Sachs & Co Wertpa   8.00  3/22/2017   EUR    63.63
Goldman Sachs & Co Wertpa   7.00  6/21/2017   EUR    63.21
Goldman Sachs & Co Wertpa   8.00  6/21/2017   EUR    64.53
Goldman Sachs & Co Wertpa   8.00  6/21/2017   EUR    64.53
Goldman Sachs & Co Wertpa   8.00  6/21/2017   EUR    64.52
Goldman Sachs & Co Wertpa   8.00  6/21/2017   EUR    64.52
UBS AG/London              10.40  8/21/2017   CHF    72.11
Vontobel Financial Produc  13.95  9/23/2016   EUR    52.49
Vontobel Financial Produc   6.00 12/23/2016   EUR    58.44
Vontobel Financial Produc  10.00 12/23/2016   EUR    55.01
Vontobel Financial Produc  11.70 12/23/2016   EUR    54.16
Vontobel Financial Produc  10.70 12/23/2016   EUR    77.02
LBBW                        4.50  8/26/2016   EUR    43.88
LBBW                        5.50  8/26/2016   EUR    43.35
LBBW                        6.00  8/26/2016   EUR    76.39
LBBW                        6.00  8/26/2016   EUR    75.90
DekaBank Deutsche Girozen   5.40  8/12/2016   EUR    73.53
LBBW                        2.50  8/26/2016   EUR    46.27
LBBW                        3.50  8/26/2016   EUR    44.43
LBBW                        3.00  8/26/2016   EUR    74.40
LBBW                        5.00  8/26/2016   EUR    70.97
LBBW                        3.00  8/26/2016   EUR    71.94
LBBW                        4.50  8/26/2016   EUR    69.15
LBBW                        5.50  8/26/2016   EUR    67.98
LBBW                        3.00  8/26/2016   EUR    59.06
LBBW                        4.00  8/26/2016   EUR    57.11
LBBW                        5.00  8/26/2016   EUR    55.89
LBBW                        6.00  8/26/2016   EUR    54.78
LBBW                        5.00  8/26/2016   EUR    73.01
LBBW                        2.50  8/26/2016   EUR    65.30
LBBW                        3.50  8/26/2016   EUR    63.92
LBBW                        4.50  8/26/2016   EUR    62.92
LBBW                        3.50  8/26/2016   EUR    78.81
LBBW                        4.50  8/26/2016   EUR    77.20
LBBW                        5.50  8/26/2016   EUR    75.76
LBBW                        2.50  8/26/2016   EUR    79.63
LBBW                        3.50  8/26/2016   EUR    77.54
LBBW                        4.50  8/26/2016   EUR    75.84
LBBW                        5.50  8/26/2016   EUR    74.52
LBBW                        3.00  8/26/2016   EUR    67.87
LBBW                        4.50  8/26/2016   EUR    65.18
LBBW                        6.00  8/26/2016   EUR    63.38
LBBW                        3.50  8/26/2016   EUR    66.05
LBBW                        5.50  8/26/2016   EUR    63.57
LBBW                        3.00  8/26/2016   EUR    63.90
LBBW                        4.00  8/26/2016   EUR    62.40
LBBW                        5.00  8/26/2016   EUR    61.00
LBBW                        3.00  8/26/2016   EUR    77.31
LBBW                        5.00  8/26/2016   EUR    73.63
LBBW                        4.50  8/26/2016   EUR    75.10
LBBW                        6.00  8/26/2016   EUR    73.13
LBBW                        3.00  8/26/2016   EUR    70.55
LBBW                        4.50  8/26/2016   EUR    67.77
LBBW                        2.50  8/26/2016   EUR    72.41
LBBW                        4.00  8/26/2016   EUR    70.11
LBBW                        5.50  8/26/2016   EUR    68.47
LBBW                        3.00  8/26/2016   EUR    74.35
LBBW                        4.00  8/26/2016   EUR    72.35
LBBW                        5.00  8/26/2016   EUR    70.45
LBBW                        2.50  8/26/2016   EUR    62.42
LBBW                        3.50  8/26/2016   EUR    60.90
LBBW                        4.50  8/26/2016   EUR    59.67
LBBW                        5.50  8/26/2016   EUR    58.65
LBBW                        6.50  8/26/2016   EUR    57.81
UBS AG/London               8.25  2/20/2017   CHF    64.17
UBS AG/London               6.25  8/19/2016   CHF    78.45
Notenstein La Roche Priva   5.02  2/20/2017   CHF    74.02
Vontobel Financial Produc  21.40  9/23/2016   EUR    61.36
Vontobel Financial Produc   9.00 12/23/2016   EUR    66.47
Vontobel Financial Produc   7.10 12/23/2016   EUR    67.98
Vontobel Financial Produc  11.15 12/23/2016   EUR    65.39
Vontobel Financial Produc  13.30 12/23/2016   EUR    64.53
Vontobel Financial Produc  15.45 12/23/2016   EUR    63.87
Vontobel Financial Produc  12.25  9/23/2016   EUR    68.81
Vontobel Financial Produc   5.15 12/23/2016   EUR    76.51
Vontobel Financial Produc  10.50 12/23/2016   EUR    70.27
Vontobel Financial Produc  13.60 12/23/2016   EUR    68.38
Vontobel Financial Produc   4.75  9/23/2016   EUR    63.50
Vontobel Financial Produc  13.00  9/23/2016   EUR    58.08
Vontobel Financial Produc   6.35 12/23/2016   EUR    77.55
Vontobel Financial Produc   8.80 12/23/2016   EUR    60.35
Vontobel Financial Produc   5.00 12/23/2016   EUR    63.00
Vontobel Financial Produc   6.85 12/23/2016   EUR    61.51
Vontobel Financial Produc  10.80 12/23/2016   EUR    59.48
Vontobel Financial Produc  15.60  9/23/2016   EUR    57.23
Vontobel Financial Produc  23.55  2/26/2016   EUR    55.95
Leonteq Securities AG       5.40  8/28/2017   CHF    54.88
Leonteq Securities AG      15.80 11/28/2016   CHF    73.41
Banque Cantonale Vaudoise   6.72  8/19/2016   EUR    61.95
Vontobel Financial Produc   6.15  9/23/2016   EUR    76.36
UBS AG                      5.00  9/23/2016   EUR    78.92
UBS AG                     10.00  9/23/2016   EUR    70.14
UBS AG                     13.50  6/24/2016   EUR    74.56
UBS AG                     14.00  6/24/2016   EUR    71.09
UBS AG                     11.50  9/23/2016   EUR    76.52
Erste Group Bank AG         6.80  8/28/2016   EUR    63.00
Vontobel Financial Produc   7.20  6/24/2016   EUR    71.05
Vontobel Financial Produc   5.75  6/24/2016   EUR    73.02
Vontobel Financial Produc   6.45  9/23/2016   EUR    72.38
Notenstein La Roche Priva   4.10  8/14/2018   CHF    69.14
Notenstein La Roche Priva   7.00  8/14/2017   CHF    73.43
Notenstein La Roche Priva   6.30  2/14/2017   CHF    51.08
Notenstein La Roche Priva   5.70  8/14/2017   CHF    71.14
Notenstein La Roche Priva   6.20  2/14/2017   CHF    60.41
Notenstein La Roche Priva   5.30  8/14/2017   CHF    74.27
Notenstein La Roche Priva   4.20  8/15/2016   CHF    47.48
Vontobel Financial Produc   6.80  12/9/2016   EUR    61.23
Vontobel Financial Produc  11.85  6/24/2016   EUR    77.78
Vontobel Financial Produc  11.70  12/9/2016   EUR    58.60
Vontobel Financial Produc   4.65  9/23/2016   EUR    71.14
Vontobel Financial Produc   7.60  9/23/2016   EUR    68.20
Vontobel Financial Produc   4.75  6/24/2016   EUR    64.20
Vontobel Financial Produc  10.75  9/23/2016   EUR    59.08
Vontobel Financial Produc   7.80  9/23/2016   EUR    71.29
Vontobel Financial Produc   5.55  9/23/2016   EUR    74.42
Vontobel Financial Produc   9.55  9/23/2016   EUR    69.53
Vontobel Financial Produc   4.60  9/23/2016   EUR    64.63
Vontobel Financial Produc   8.90  6/24/2016   EUR    66.81
Vontobel Financial Produc   5.00  6/24/2016   EUR    70.35
Vontobel Financial Produc   9.10  6/24/2016   EUR    69.98
Vontobel Financial Produc   6.20  6/24/2016   EUR    73.75
Leonteq Securities AG       5.40  8/14/2017   CHF    71.50
Leonteq Securities AG      10.00 11/14/2016   CHF    53.21
Leonteq Securities AG       8.00 11/14/2016   CHF    73.69
Vontobel Financial Produc   6.30  6/24/2016   EUR    75.62
UBS AG/London               5.00   8/6/2018   CHF    74.99
Vontobel Financial Produc   7.35  6/24/2016   EUR    69.74
UBS AG                      4.50 11/11/2016   EUR    64.14
UBS AG                      9.00  8/12/2016   EUR    56.57
UBS AG                      4.50 11/11/2016   EUR    71.78
UBS AG                      8.00  8/12/2016   EUR    57.63
UBS AG                      4.80  8/12/2016   EUR    71.65
DekaBank Deutsche Girozen   5.50  7/22/2016   EUR    72.73
LBBW                        3.40  9/28/2018   EUR    67.20
Vontobel Financial Produc   8.50  8/26/2016   EUR    66.61
Commerzbank AG              5.50  7/22/2016   EUR    56.83
Commerzbank AG              6.00  7/22/2016   EUR    59.03
Commerzbank AG              5.00  7/22/2016   EUR    64.04
Commerzbank AG              6.00  7/22/2016   EUR    72.58
DZ Bank AG Deutsche Zentr   6.90  6/20/2016   EUR    51.30
Bank Julius Baer & Co Ltd  12.20  8/18/2016   USD    65.90
DZ Bank AG Deutsche Zentr   6.50  9/23/2016   EUR    56.77
DZ Bank AG Deutsche Zentr   6.50  9/23/2016   EUR    51.65
DZ Bank AG Deutsche Zentr   8.00  8/26/2016   EUR    71.95
DZ Bank AG Deutsche Zentr   7.50  8/26/2016   EUR    69.04
Vontobel Financial Produc   7.00  8/26/2016   EUR    65.19
Vontobel Financial Produc   5.50  8/26/2016   EUR    73.52
Notenstein La Roche Priva   8.02  8/11/2017   EUR    61.92
Vontobel Financial Produc   6.15 12/23/2016   EUR    55.60
Vontobel Financial Produc  11.00  3/29/2016   EUR    73.64
Vontobel Financial Produc   5.35 12/23/2016   EUR    67.36
Vontobel Financial Produc  11.00  6/24/2016   EUR    73.79
Vontobel Financial Produc   6.15  8/26/2016   EUR    69.74
Vontobel Financial Produc  10.70  3/29/2016   EUR    69.27
Vontobel Financial Produc  13.35  6/24/2016   EUR    66.67
Vontobel Financial Produc  11.00  9/23/2016   EUR    67.96
Vontobel Financial Produc  14.80  9/23/2016   EUR    66.21
Notenstein La Roche Priva   4.10   8/7/2018   CHF    74.35
Notenstein La Roche Priva   7.00   2/7/2017   CHF    63.49
Notenstein La Roche Priva   5.50   8/7/2018   CHF    67.84
Notenstein La Roche Priva   5.00   8/7/2018   CHF    68.43
Goldman Sachs & Co Wertpa  21.00  7/20/2016   EUR    68.45
Goldman Sachs & Co Wertpa  10.00  8/24/2016   EUR    63.86
Goldman Sachs & Co Wertpa   8.00  8/24/2016   EUR    56.21
Goldman Sachs & Co Wertpa   9.00  6/21/2017   EUR    59.15
Bank Julius Baer & Co Ltd  13.68  7/28/2016   CHF    55.90
LBBW                        4.00  8/26/2016   EUR    58.50
LBBW                        3.00  8/26/2016   EUR    69.00
LBBW                        3.00  8/26/2016   EUR    59.23
LBBW                        5.00  8/26/2016   EUR    56.04
LBBW                        5.00  8/26/2016   EUR    73.47
LBBW                        2.50  8/26/2016   EUR    77.73
LBBW                        4.50  8/26/2016   EUR    73.69
LBBW                        2.50  8/26/2016   EUR    63.30
LBBW                        4.50  8/26/2016   EUR    59.79
LBBW                        3.00  8/26/2016   EUR    80.02
LBBW                        4.50  8/26/2016   EUR    77.28
LBBW                        4.50  8/26/2016   EUR    69.00
LBBW                        2.50  8/26/2016   EUR    60.41
LBBW                        4.00  8/26/2016   EUR    75.54
LBBW                        3.00  8/26/2016   EUR    74.28
LBBW                        4.50  8/25/2017   EUR    75.65
LBBW                        2.50  8/25/2017   EUR    75.50
LBBW                        4.50  8/25/2017   EUR    70.77
LBBW                        3.50  8/25/2017   EUR    60.96
LBBW                        4.50  8/25/2017   EUR    71.76
LBBW                        3.50  8/25/2017   EUR    77.72
LBBW                        4.50  8/25/2017   EUR    75.87
LBBW                        3.50  8/25/2017   EUR    75.21
LBBW                        3.00  8/25/2017   EUR    68.89
LBBW                        5.00  8/25/2017   EUR    65.97
LBBW                        3.00  8/25/2017   EUR    62.08
LBBW                        4.00  8/25/2017   EUR    60.09
LBBW                        5.00  8/25/2017   EUR    58.67
LBBW                        3.00  8/25/2017   EUR    49.00
LBBW                        3.50  8/25/2017   EUR    60.66
LBBW                        3.00  8/25/2017   EUR    64.10
LBBW                        3.00  8/25/2017   EUR    71.54
EFG International Finance   7.20  7/29/2020   EUR    54.36
Vontobel Financial Produc   4.15 12/23/2016   EUR    56.80
Vontobel Financial Produc   7.45  3/29/2016   EUR    61.88
Vontobel Financial Produc   8.05  6/24/2016   EUR    72.55
Vontobel Financial Produc   9.00  3/29/2016   EUR    68.64
Vontobel Financial Produc   5.15  6/24/2016   EUR    70.40
Landesbank Hessen-Thuerin   3.00 11/28/2016   EUR    72.80
Leonteq Securities AG       5.20   8/7/2018   CHF    76.06
Leonteq Securities AG       4.20   8/7/2018   EUR    73.87
Leonteq Securities AG      12.00  11/7/2016   CHF    69.33
Leonteq Securities AG       8.00  11/7/2016   CHF    67.71
Leonteq Securities AG       9.20  11/7/2016   USD    63.09
Notenstein La Roche Priva   6.00   8/7/2017   CHF    68.75
Notenstein La Roche Priva   4.00  7/31/2018   CHF    69.75
Notenstein La Roche Priva   6.00  7/31/2017   CHF    61.00
Notenstein La Roche Priva   5.60  7/31/2017   CHF    75.68
Notenstein La Roche Priva   4.00  1/31/2017   EUR    53.78
Commerzbank AG              6.00  6/23/2016   EUR    60.38
DZ Bank AG Deutsche Zentr   5.60  6/20/2016   EUR    63.34
DZ Bank AG Deutsche Zentr   4.80  9/19/2016   EUR    62.09
Banque Cantonale Vaudoise   5.52  7/29/2016   USD    75.05
UBS AG/London               5.00  7/29/2016   CHF    65.04
Zurcher Kantonalbank Fina   9.00  8/11/2016   CHF    71.07
Zurcher Kantonalbank Fina   7.20  8/11/2016   CHF    71.61
Bank Julius Baer & Co Ltd   9.05  2/13/2017   EUR    57.95
Vontobel Financial Produc   7.70  6/24/2016   EUR    75.82
Vontobel Financial Produc   6.40  6/24/2016   EUR    77.53
Vontobel Financial Produc   5.45  9/23/2016   EUR    78.39
Vontobel Financial Produc   6.55  9/23/2016   EUR    76.97
Vontobel Financial Produc   5.10  9/23/2016   EUR    60.43
Vontobel Financial Produc   4.25  9/23/2016   EUR    61.53
Vontobel Financial Produc   9.50  6/24/2016   EUR    56.28
Vontobel Financial Produc   8.90  7/22/2016   EUR    56.78
Zurcher Kantonalbank Fina  10.03 10/21/2016   CHF    78.80
Goldman Sachs & Co Wertpa   8.00 11/23/2016   EUR    70.61
Leonteq Securities AG      11.20  1/26/2017   CHF    75.90
Leonteq Securities AG      10.20  1/26/2017   CHF    60.32
Goldman Sachs & Co Wertpa   6.00 11/23/2016   EUR    64.18
Goldman Sachs & Co Wertpa  10.00  3/23/2016   EUR    61.38
Goldman Sachs & Co Wertpa   8.00 11/23/2016   EUR    65.68
Bank Julius Baer & Co Ltd   9.00 10/24/2016   CHF    57.55
LBBW                        6.00 10/28/2016   EUR    72.76
LBBW                        5.50  6/24/2016   EUR    73.55
Notenstein La Roche Priva   5.00 10/23/2018   CHF    76.63
Notenstein La Roche Priva   7.50 10/26/2016   CHF    77.55
BNP Paribas Emissions- un   7.50  3/24/2016   EUR    72.77
BNP Paribas Emissions- un  11.00  3/24/2016   EUR    66.84
BNP Paribas Emissions- un  20.00  3/24/2016   EUR    59.93
BNP Paribas Emissions- un   5.50  9/22/2016   EUR    73.39
BNP Paribas Emissions- un   9.00  9/22/2016   EUR    67.81
BNP Paribas Emissions- un  12.00  9/22/2016   EUR    65.03
BNP Paribas Emissions- un  16.00  9/22/2016   EUR    63.31
BNP Paribas Emissions- un   8.00 12/22/2016   EUR    68.84
BNP Paribas Emissions- un  10.00 12/22/2016   EUR    66.20
BNP Paribas Emissions- un  21.00  6/23/2016   EUR    74.68
BNP Paribas Emissions- un  16.00  3/24/2016   EUR    64.22
BNP Paribas Emissions- un   5.00  9/22/2016   EUR    72.52
BNP Paribas Emissions- un   6.00  9/22/2016   EUR    69.82
BNP Paribas Emissions- un  15.00  3/24/2016   EUR    71.44
BNP Paribas Emissions- un   9.00  9/22/2016   EUR    73.66
BNP Paribas Emissions- un  13.00  9/22/2016   EUR    69.87
BNP Paribas Emissions- un  19.00  9/22/2016   EUR    64.12
BNP Paribas Emissions- un  16.00 12/22/2016   EUR    65.65
BNP Paribas Emissions- un  13.00  6/23/2016   EUR    72.66
BNP Paribas Emissions- un  16.00  9/22/2016   EUR    64.47
BNP Paribas Emissions- un  22.00  9/22/2016   EUR    60.59
BNP Paribas Emissions- un  13.00 12/22/2016   EUR    65.89
BNP Paribas Emissions- un  19.00 12/22/2016   EUR    64.17
BNP Paribas Emissions- un  13.00  6/23/2016   EUR    74.87
BNP Paribas Emissions- un  18.00  6/23/2016   EUR    71.91
BNP Paribas Emissions- un  12.00 12/22/2016   EUR    75.50
BNP Paribas Emissions- un   8.00  3/24/2016   EUR    64.92
BNP Paribas Emissions- un   9.00  9/22/2016   EUR    68.51
BNP Paribas Emissions- un   6.00 12/22/2016   EUR    71.23
BNP Paribas Emissions- un   7.00 12/22/2016   EUR    69.09
BNP Paribas Emissions- un  12.00  6/23/2016   EUR    60.40
BNP Paribas Emissions- un  15.00  6/23/2016   EUR    59.26
BNP Paribas Emissions- un  18.00  6/23/2016   EUR    57.32
BNP Paribas Emissions- un  21.00  6/23/2016   EUR    55.68
BNP Paribas Emissions- un   7.00  9/22/2016   EUR    66.08
BNP Paribas Emissions- un   8.00  9/22/2016   EUR    66.66
BNP Paribas Emissions- un   9.50  9/22/2016   EUR    63.91
BNP Paribas Emissions- un  13.00  9/22/2016   EUR    61.64
BNP Paribas Emissions- un  17.00  9/22/2016   EUR    58.51
BNP Paribas Emissions- un   7.00 12/22/2016   EUR    67.10
BNP Paribas Emissions- un   8.50 12/22/2016   EUR    64.91
BNP Paribas Emissions- un  10.00 12/22/2016   EUR    64.04
BNP Paribas Emissions- un  11.00 12/22/2016   EUR    62.88
BNP Paribas Emissions- un  15.00 12/22/2016   EUR    60.92
BNP Paribas Emissions- un  29.00  3/24/2016   EUR    52.15
BNP Paribas Emissions- un   8.00  6/23/2016   EUR    65.15
BNP Paribas Emissions- un  11.00  6/23/2016   EUR    62.36
BNP Paribas Emissions- un  23.00  3/24/2016   EUR    78.94
BNP Paribas Emissions- un   7.50  9/22/2016   EUR    73.23
BNP Paribas Emissions- un   9.00  9/22/2016   EUR    70.77
BNP Paribas Emissions- un  11.00  9/22/2016   EUR    68.84
BNP Paribas Emissions- un  16.00  9/22/2016   EUR    65.41
BNP Paribas Emissions- un   7.50 12/22/2016   EUR    73.60
BNP Paribas Emissions- un   9.00 12/22/2016   EUR    71.71
BNP Paribas Emissions- un  13.00 12/22/2016   EUR    68.54
BNP Paribas Emissions- un  14.00 12/22/2016   EUR    66.92
BNP Paribas Emissions- un   6.00  6/23/2016   EUR    74.27
BNP Paribas Emissions- un   7.50  6/23/2016   EUR    72.25
BNP Paribas Emissions- un  10.00  6/23/2016   EUR    69.54
BNP Paribas Emissions- un  13.00  6/23/2016   EUR    67.29
BNP Paribas Emissions- un  14.00  6/23/2016   EUR    65.61
BNP Paribas Emissions- un  17.00  6/23/2016   EUR    64.70
BNP Paribas Emissions- un  20.00  6/23/2016   EUR    63.04
BNP Paribas Emissions- un  13.00 12/22/2016   EUR    80.85
BNP Paribas Emissions- un  16.00  3/24/2016   EUR    80.04
BNP Paribas Emissions- un  22.00  3/24/2016   EUR    77.08
BNP Paribas Emissions- un  25.00  3/24/2016   EUR    75.40
BNP Paribas Emissions- un  14.00  9/22/2016   EUR    80.17
BNP Paribas Emissions- un  15.00  9/22/2016   EUR    79.03
BNP Paribas Emissions- un  16.00  9/22/2016   EUR    72.70
BNP Paribas Emissions- un  13.00 12/22/2016   EUR    74.13
BNP Paribas Emissions- un   8.00  3/24/2016   EUR    64.54
BNP Paribas Emissions- un   8.00  9/22/2016   EUR    65.86
BNP Paribas Emissions- un  13.00  9/22/2016   EUR    59.01
Vontobel Financial Produc   8.50  9/23/2016   EUR    59.95
Vontobel Financial Produc  10.00  9/23/2016   EUR    58.91
Vontobel Financial Produc  15.00 12/23/2016   EUR    59.90
Vontobel Financial Produc  11.50  3/29/2016   EUR    71.01
Vontobel Financial Produc  10.00  6/24/2016   EUR    71.75
Vontobel Financial Produc   9.00  9/23/2016   EUR    72.97
Vontobel Financial Produc  14.50  3/29/2016   EUR    63.43
Vontobel Financial Produc  26.00  3/29/2016   EUR    54.37
Vontobel Financial Produc   8.00  6/24/2016   EUR    69.89
Vontobel Financial Produc  13.60  6/24/2016   EUR    62.22
Vontobel Financial Produc  21.55  6/24/2016   EUR    56.82
Vontobel Financial Produc  17.50  9/23/2016   EUR    58.33
Leonteq Securities AG      16.80  7/26/2016   CHF    63.77
Vontobel Financial Produc  10.10 10/28/2016   EUR    74.01
BNP Paribas Emissions- un  20.00  3/24/2016   EUR    75.73
BNP Paribas Emissions- un  24.00  3/24/2016   EUR    73.26
BNP Paribas Emissions- un  17.00  9/22/2016   EUR    74.49
Zurcher Kantonalbank Fina   8.00 10/27/2016   CHF    70.59
Credit Suisse AG/London     7.00 10/26/2016   CHF    67.11
UBS AG                      9.50  6/24/2016   EUR    66.12
DZ Bank AG Deutsche Zentr  11.50 10/28/2016   EUR    68.82
DZ Bank AG Deutsche Zentr   5.00 10/28/2016   EUR    74.74
DZ Bank AG Deutsche Zentr   6.75 10/28/2016   EUR    73.59
DZ Bank AG Deutsche Zentr   6.75 10/28/2016   EUR    72.50
DZ Bank AG Deutsche Zentr  12.25 10/28/2016   EUR    73.61
DZ Bank AG Deutsche Zentr  11.00 12/23/2016   EUR    62.79
DZ Bank AG Deutsche Zentr  13.50  3/29/2016   EUR    58.09
DZ Bank AG Deutsche Zentr  12.50  9/23/2016   EUR    58.13
DZ Bank AG Deutsche Zentr   5.00  6/24/2016   EUR    67.65
DZ Bank AG Deutsche Zentr   5.00  9/23/2016   EUR    71.96
DZ Bank AG Deutsche Zentr   8.00  9/23/2016   EUR
DZ Bank AG Deutsche Zentr  10.00  9/23/2016   EUR    77.37
DZ Bank AG Deutsche Zentr   8.00  3/29/2016   EUR    71.69
DZ Bank AG Deutsche Zentr   8.00  6/24/2016   EUR    72.16
DZ Bank AG Deutsche Zentr  10.00  6/24/2016   EUR    73.57
DZ Bank AG Deutsche Zentr   8.00  3/29/2016   EUR
DZ Bank AG Deutsche Zentr   8.00  9/23/2016   EUR    73.53
DZ Bank AG Deutsche Zentr   8.00  3/29/2016   EUR    64.48
DZ Bank AG Deutsche Zentr   8.00  6/24/2016   EUR    62.21
UBS AG                     13.75 12/23/2016   EUR    59.32
Bank Julius Baer & Co Ltd   5.65 10/27/2016   CHF    70.35
Bank Julius Baer & Co Ltd   3.90 10/27/2016   CHF    53.10
DZ Bank AG Deutsche Zentr   7.50  3/29/2016   EUR    56.78
DZ Bank AG Deutsche Zentr   7.00  6/24/2016   EUR    57.11
UBS AG/London              12.50  6/24/2016   EUR    62.49
Deutsche Bank AG            5.20  3/21/2017   EUR    74.30
Deutsche Bank AG            5.20  3/21/2017   EUR    71.90
Deutsche Bank AG            5.20  3/21/2017   EUR    69.50
Deutsche Bank AG            5.20  3/21/2017   EUR    67.30
Deutsche Bank AG            5.20  9/20/2016   EUR    76.20
Deutsche Bank AG            5.20 12/20/2016   EUR    75.20
Deutsche Bank AG            7.20  6/21/2016   EUR    72.60
Deutsche Bank AG            7.20  3/21/2017   EUR    71.70
Deutsche Bank AG            7.20  3/21/2017   EUR    69.50
DZ Bank AG Deutsche Zentr   9.00  3/21/2016   EUR    73.58
DZ Bank AG Deutsche Zentr   9.00  6/20/2016   EUR    72.84
DZ Bank AG Deutsche Zentr   7.50  9/19/2016   EUR    74.45
DZ Bank AG Deutsche Zentr   9.00 12/19/2016   EUR    73.13
DZ Bank AG Deutsche Zentr   6.00  9/19/2016   EUR    69.09
UBS AG                      6.50 11/25/2016   EUR    65.29
UBS AG                      6.25 11/25/2016   EUR    72.12
UniCredit Bank AG           4.00 12/22/2016   EUR    76.27
UniCredit Bank AG           4.00 12/22/2016   EUR    79.17
LBBW                        3.35 11/23/2018   EUR    73.94
Vontobel Financial Produc   8.50 10/28/2016   EUR    68.22
Bank Julius Baer & Co Ltd  13.70  7/29/2016   CHF    61.80
UniCredit Bank AG           4.00 12/22/2016   EUR    71.21
UniCredit Bank AG           5.60 12/22/2016   EUR    73.82
UniCredit Bank AG           4.00 12/22/2016   EUR    73.32
UniCredit Bank AG           5.20 12/22/2016   EUR    74.57
UniCredit Bank AG           4.25 12/22/2016   EUR    70.17
UniCredit Bank AG           4.50 12/22/2016   EUR    69.75
UniCredit Bank AG           4.00 12/22/2016   EUR    70.58
UniCredit Bank AG           4.75 12/22/2016   EUR    69.39
UniCredit Bank AG           5.00 12/22/2016   EUR    69.00
Leonteq Securities AG      10.00  1/30/2017   CHF    72.78
Leonteq Securities AG       9.00  1/30/2017   CHF    75.11
Notenstein La Roche Priva   5.10 10/30/2018   CHF    71.93
Notenstein La Roche Priva   6.00 10/30/2017   CHF    69.83
HSBC Trinkaus & Burkhardt  19.40  6/24/2016   EUR    60.57
HSBC Trinkaus & Burkhardt  10.30  9/23/2016   EUR    66.07
HSBC Trinkaus & Burkhardt  18.20  6/24/2016   EUR    66.08
HSBC Trinkaus & Burkhardt  12.40  9/23/2016   EUR    70.22
Societe Generale Effekten   5.61 11/25/2016   EUR    67.31
Bank Julius Baer & Co Ltd   6.50 10/27/2016   CHF    70.90
Vontobel Financial Produc   8.50  9/23/2016   EUR    69.59
Notenstein La Roche Priva   7.80  11/9/2016   CHF    56.87
Commerzbank AG              4.25 10/27/2016   EUR    68.11
Commerzbank AG              4.75 10/27/2016   EUR    67.16
Commerzbank AG              5.25 10/27/2016   EUR    66.17
Commerzbank AG              6.00 10/27/2016   EUR    65.46
Commerzbank AG              6.50 10/27/2016   EUR    64.59
Commerzbank AG              7.25 10/27/2016   EUR    63.94
Commerzbank AG              8.00 10/27/2016   EUR    63.31
Commerzbank AG              8.75 10/27/2016   EUR    62.71
Deutsche Bank AG            4.20  9/20/2016   EUR    65.80
Deutsche Bank AG            6.20  9/20/2016   EUR    64.80
Deutsche Bank AG            4.20  9/20/2016   EUR    63.60
Deutsche Bank AG            6.20  9/20/2016   EUR    62.80
Deutsche Bank AG            4.20  9/20/2016   EUR    61.60
Deutsche Bank AG            4.20  9/20/2016   EUR    59.60
Deutsche Bank AG            4.20  9/20/2016   EUR    64.50
Deutsche Bank AG            6.20  6/21/2016   EUR    59.00
Deutsche Bank AG            6.20  9/20/2016   EUR    73.50
Deutsche Bank AG            4.20  9/20/2016   EUR    72.30
Deutsche Bank AG            4.20  9/20/2016   EUR    70.10
Deutsche Bank AG            4.20  6/21/2016   EUR    58.30
Deutsche Bank AG            6.20  9/20/2016   EUR    65.00
Deutsche Bank AG            4.20  9/20/2016   EUR    73.40
Deutsche Bank AG            6.20  9/20/2016   EUR    72.10
Deutsche Bank AG            6.20  3/22/2016   EUR    64.80
Deutsche Bank AG            4.20  9/20/2016   EUR    67.30
Deutsche Bank AG            6.20  9/20/2016   EUR    65.70
Deutsche Bank AG            6.20  3/22/2016   EUR    64.90
Deutsche Bank AG            4.20  3/22/2016   EUR    64.70
Deutsche Bank AG            6.20  3/22/2016   EUR    62.70
Deutsche Bank AG            4.20  3/22/2016   EUR    62.50
Deutsche Bank AG            6.20  3/22/2016   EUR    58.80
Deutsche Bank AG            4.20  3/22/2016   EUR    58.70
Deutsche Bank AG            6.20  6/21/2016   EUR    63.00
Deutsche Bank AG            4.20  6/21/2016   EUR    62.30
Deutsche Bank AG            6.20  6/21/2016   EUR    61.00
Deutsche Bank AG            4.20  6/21/2016   EUR    60.30
Deutsche Bank AG            4.20  6/21/2016   EUR    56.70
Deutsche Bank AG            6.20  6/21/2016   EUR    57.40
Deutsche Bank AG            6.20  9/20/2016   EUR    64.10
Deutsche Bank AG            4.20  9/20/2016   EUR    62.90
Deutsche Bank AG            6.20  9/20/2016   EUR    62.20
Deutsche Bank AG            4.20  9/20/2016   EUR    61.00
Deutsche Bank AG            6.20  9/20/2016   EUR    58.70
Deutsche Bank AG            4.20  9/20/2016   EUR    57.50
Deutsche Bank AG            4.20  9/20/2016   EUR    62.00
Deutsche Bank AG            4.20  3/22/2016   EUR    78.90
Deutsche Bank AG            6.20  3/22/2016   EUR    79.10
Deutsche Bank AG            4.20  6/21/2016   EUR    78.30
Deutsche Bank AG            6.20  6/21/2016   EUR    79.00
Deutsche Bank AG            6.20  9/20/2016   EUR    79.80
Deutsche Bank AG            4.20  9/20/2016   EUR    78.60
Deutsche Bank AG            4.20  3/22/2016   EUR    70.90
Deutsche Bank AG            6.20  3/22/2016   EUR    71.10
Deutsche Bank AG            6.20  3/22/2016   EUR    67.40
Deutsche Bank AG            4.20  3/22/2016   EUR    67.20
Deutsche Bank AG            6.20  3/22/2016   EUR    64.00
Deutsche Bank AG            4.20  3/22/2016   EUR    63.80
Deutsche Bank AG            6.20  6/21/2016   EUR    71.10
Deutsche Bank AG            4.20  6/21/2016   EUR    70.40
Deutsche Bank AG            4.20  6/21/2016   EUR    66.80
Deutsche Bank AG            4.20  6/21/2016   EUR    56.20
Deutsche Bank AG            6.20  6/21/2016   EUR    67.50
Deutsche Bank AG            4.20  6/21/2016   EUR    63.50
Deutsche Bank AG            6.20  6/21/2016   EUR    64.20
Deutsche Bank AG            4.20  9/20/2016   EUR    71.30
Deutsche Bank AG            6.20  9/20/2016   EUR    72.50
Deutsche Bank AG            6.20  9/20/2016   EUR    69.00
Deutsche Bank AG            4.20  9/20/2016   EUR    67.80
Deutsche Bank AG            6.20  9/20/2016   EUR    65.70
Deutsche Bank AG            4.20  9/20/2016   EUR    64.60
Deutsche Bank AG            6.20  9/20/2016   EUR    60.40
Deutsche Bank AG            6.20  9/20/2016   EUR    58.30
Deutsche Bank AG            4.20  3/22/2016   EUR    73.00
Deutsche Bank AG            6.20  3/22/2016   EUR    73.20
Deutsche Bank AG            6.20  3/22/2016   EUR    69.90
Deutsche Bank AG            4.20  3/22/2016   EUR    69.70
Deutsche Bank AG            6.20  6/21/2016   EUR    73.80
Deutsche Bank AG            4.20  6/21/2016   EUR    73.10
Deutsche Bank AG            6.20  6/21/2016   EUR    70.60
Deutsche Bank AG            4.20  6/21/2016   EUR    69.90
Deutsche Bank AG            4.20  9/20/2016   EUR    73.90
Deutsche Bank AG            6.20  9/20/2016   EUR    75.10
Deutsche Bank AG            6.20  9/20/2016   EUR    72.00
Deutsche Bank AG            4.20  9/20/2016   EUR    70.80
Deutsche Bank AG            4.20  6/21/2016   EUR    44.00
Deutsche Bank AG            6.20  6/21/2016   EUR    44.70
Deutsche Bank AG            6.20  6/21/2016   EUR    43.00
Deutsche Bank AG            6.20  9/20/2016   EUR    49.90
Deutsche Bank AG            4.20  9/20/2016   EUR    48.70
Deutsche Bank AG            4.20  9/20/2016   EUR    46.80
Deutsche Bank AG            6.20  9/20/2016   EUR    47.90
Deutsche Bank AG            6.20  9/20/2016   EUR    46.10
Deutsche Bank AG            4.20  9/20/2016   EUR    44.90
Deutsche Bank AG            6.20  9/20/2016   EUR    44.50
Deutsche Bank AG            4.20  9/20/2016   EUR    43.30
Deutsche Bank AG            4.20  3/22/2016   EUR    67.80
Deutsche Bank AG            4.20  3/22/2016   EUR    64.90
Deutsche Bank AG            4.20  3/22/2016   EUR    62.20
Deutsche Bank AG            6.20  3/22/2016   EUR    62.40
Deutsche Bank AG            4.20  3/22/2016   EUR    59.70
Deutsche Bank AG            6.20  3/22/2016   EUR    59.90
Deutsche Bank AG            4.20  6/21/2016   EUR    68.70
Deutsche Bank AG            6.20  6/21/2016   EUR    69.30
Deutsche Bank AG            4.20  6/21/2016   EUR    65.80
Deutsche Bank AG            6.20  6/21/2016   EUR    66.50
Deutsche Bank AG            4.20  6/21/2016   EUR    63.20
Deutsche Bank AG            6.20  6/21/2016   EUR    63.90
Deutsche Bank AG            6.20  6/21/2016   EUR    61.40
Deutsche Bank AG            4.20  6/21/2016   EUR    60.70
Deutsche Bank AG            4.20  9/20/2016   EUR    69.40
Deutsche Bank AG            6.20  9/20/2016   EUR    70.60
Deutsche Bank AG            6.20  9/20/2016   EUR    67.80
Deutsche Bank AG            4.20  9/20/2016   EUR    66.60
Deutsche Bank AG            6.20  9/20/2016   EUR    65.30
Deutsche Bank AG            4.20  9/20/2016   EUR    64.10
Deutsche Bank AG            4.20  9/20/2016   EUR    61.70
Deutsche Bank AG            6.20  9/20/2016   EUR    62.90
Deutsche Bank AG            6.20  3/22/2016   EUR    44.80
Deutsche Bank AG            5.50  3/22/2016   EUR    64.70
Deutsche Bank AG            5.50  3/22/2016   EUR    61.50
Deutsche Bank AG            5.50  6/21/2016   EUR    63.40
Deutsche Bank AG            5.50  6/21/2016   EUR    60.40
Deutsche Bank AG            5.50  3/22/2016   EUR    72.80
Deutsche Bank AG            5.50  6/21/2016   EUR    74.20
Deutsche Bank AG            5.50  3/22/2016   EUR    73.20
Deutsche Bank AG            5.50  6/21/2016   EUR    73.30
Deutsche Bank AG            4.20  3/22/2016   EUR    44.60
Deutsche Bank AG            4.20  3/22/2016   EUR    42.80
Deutsche Bank AG            6.20  3/22/2016   EUR    42.90
Deutsche Bank AG            6.20  3/22/2016   EUR    41.20
Deutsche Bank AG            4.20  3/22/2016   EUR    41.10
Deutsche Bank AG            6.20  6/21/2016   EUR    45.80
Deutsche Bank AG            4.20  6/21/2016   EUR    45.10
Deutsche Bank AG            6.20  6/21/2016   EUR    44.00
Deutsche Bank AG            4.20  6/21/2016   EUR    43.30
Deutsche Bank AG            6.20  6/21/2016   EUR    42.30
Deutsche Bank AG            4.20  6/21/2016   EUR    41.60
Deutsche Bank AG            4.20  9/20/2016   EUR    48.10
Deutsche Bank AG            6.20  9/20/2016   EUR    49.30
Deutsche Bank AG            4.20  9/20/2016   EUR    46.20
Deutsche Bank AG            6.20  9/20/2016   EUR    47.30
Deutsche Bank AG            6.20  9/20/2016   EUR    45.50
Deutsche Bank AG            4.20  9/20/2016   EUR    44.30
Deutsche Bank AG            6.20  9/20/2016   EUR    43.80
Deutsche Bank AG            4.20  9/20/2016   EUR    42.70
Deutsche Bank AG            6.20  3/22/2016   EUR    62.20
Deutsche Bank AG            6.20  6/21/2016   EUR    64.20
Deutsche Bank AG            4.20  6/21/2016   EUR    60.90
Deutsche Bank AG            5.50  3/22/2016   EUR    48.00
Deutsche Bank AG            5.50  3/22/2016   EUR    45.00
Deutsche Bank AG            5.50  6/21/2016   EUR    47.70
Deutsche Bank AG            5.50  6/21/2016   EUR    44.80
Deutsche Bank AG            5.50  3/22/2016   EUR    63.30
Deutsche Bank AG            5.50  3/22/2016   EUR    58.10
Deutsche Bank AG            5.50  6/21/2016   EUR    62.10
Deutsche Bank AG            5.50  6/21/2016   EUR    57.10
Deutsche Bank AG            5.50  3/22/2016   EUR    52.90
Deutsche Bank AG            4.20  9/20/2016   EUR    70.30
Deutsche Bank AG            4.20  9/20/2016   EUR    66.40
Deutsche Bank AG            5.50  3/22/2016   EUR    48.50
Deutsche Bank AG            5.50  6/21/2016   EUR    53.10
Deutsche Bank AG            5.50  6/21/2016   EUR    48.90
Deutsche Bank AG            5.50  3/22/2016   EUR    71.80
Deutsche Bank AG            5.50  6/21/2016   EUR    72.90
Deutsche Bank AG            6.20  9/20/2016   EUR    67.50
Deutsche Bank AG            5.50  3/22/2016   EUR    51.00
Deutsche Bank AG            5.50  3/22/2016   EUR    48.00
Deutsche Bank AG            5.50  3/22/2016   EUR    45.30
Deutsche Bank AG            5.50  6/21/2016   EUR    51.30
Deutsche Bank AG            5.50  6/21/2016   EUR    48.40
Deutsche Bank AG            5.50  6/21/2016   EUR    45.80
Deutsche Bank AG            6.20  9/20/2016   EUR    69.80
Deutsche Bank AG            5.50  3/22/2016   EUR    76.30
Deutsche Bank AG            5.50  6/21/2016   EUR    75.50
Deutsche Bank AG            5.50  3/22/2016   EUR    68.80
Deutsche Bank AG            5.50  6/21/2016   EUR    69.30
Deutsche Bank AG            6.20  9/20/2016   EUR    67.60
Deutsche Bank AG            4.20  3/22/2016   EUR    56.40
Deutsche Bank AG            4.20  6/21/2016   EUR    60.60
Deutsche Bank AG            4.20  9/20/2016   EUR    68.60
Deutsche Bank AG            6.20  6/21/2016   EUR    61.60
Deutsche Bank AG            6.20  9/20/2016   EUR    68.50
Deutsche Bank AG            6.20  3/22/2016   EUR    56.60
Deutsche Bank AG            6.20  6/21/2016   EUR    56.90
Deutsche Bank AG            6.20  9/20/2016   EUR    62.60
Deutsche Bank AG            4.20  9/20/2016   EUR    57.10
Deutsche Bank AG            4.20  3/22/2016   EUR    70.80
Deutsche Bank AG            6.20  3/22/2016   EUR    71.00
Commerzbank AG              6.50  3/24/2016   EUR    58.30
Commerzbank AG              9.00  3/24/2016   EUR    53.85
Commerzbank AG             12.00  3/24/2016   EUR    50.13
Commerzbank AG             11.25  3/24/2016   EUR    73.46
Commerzbank AG             12.50  3/24/2016   EUR    52.83
Commerzbank AG             16.50  3/24/2016   EUR    48.03
Commerzbank AG             12.25  3/24/2016   EUR    76.57
Commerzbank AG             16.00  3/24/2016   EUR    69.43
Commerzbank AG             11.25  3/24/2016   EUR    73.18
Commerzbank AG             14.00  3/24/2016   EUR    75.89
Commerzbank AG             16.00  3/24/2016   EUR    72.45
Commerzbank AG              6.50  3/24/2016   EUR    72.58
Commerzbank AG              9.25  3/24/2016   EUR    66.96
Commerzbank AG             12.25  3/24/2016   EUR    62.23
Commerzbank AG              6.75  3/24/2016   EUR    60.15
Commerzbank AG              9.00  3/24/2016   EUR    57.36
Commerzbank AG             10.75  3/24/2016   EUR    73.01
Commerzbank AG             12.75  3/24/2016   EUR    69.42
Commerzbank AG             14.75  3/24/2016   EUR    66.19
Commerzbank AG              6.75  3/24/2016   EUR    72.25
Commerzbank AG              9.25  3/24/2016   EUR    66.64
Commerzbank AG             12.25  3/24/2016   EUR    61.94
Commerzbank AG             13.00  3/24/2016   EUR    79.90
Commerzbank AG              7.00  3/24/2016   EUR    47.46
Commerzbank AG             10.25  3/24/2016   EUR    44.20
Commerzbank AG             10.50  3/24/2016   EUR    74.28
Commerzbank AG             12.75  3/24/2016   EUR    70.80
Commerzbank AG             11.75  3/24/2016   EUR    70.34
Commerzbank AG             14.50  3/24/2016   EUR    65.33
Commerzbank AG              6.50  3/24/2016   EUR    78.07
Commerzbank AG              7.75  3/24/2016   EUR    76.24
Commerzbank AG              5.50  3/24/2016   EUR    67.60
Commerzbank AG              7.25  3/24/2016   EUR    64.26
Commerzbank AG              9.25  3/24/2016   EUR    61.21
Commerzbank AG              4.75  3/24/2016   EUR    59.60
Commerzbank AG              6.75  3/24/2016   EUR    56.61
Commerzbank AG              8.75  3/24/2016   EUR    53.97
Commerzbank AG              5.00  3/24/2016   EUR    60.00
Commerzbank AG              7.00  3/24/2016   EUR    57.09
Commerzbank AG              9.25  3/24/2016   EUR    54.38
Commerzbank AG              6.00  3/24/2016   EUR    75.63
Commerzbank AG              8.00  3/24/2016   EUR    72.77
Commerzbank AG              9.00  3/24/2016   EUR    75.42
Commerzbank AG             11.00  3/24/2016   EUR    71.86
Commerzbank AG              7.25  3/24/2016   EUR    49.97
Commerzbank AG              9.00  3/24/2016   EUR    48.06
Commerzbank AG             11.00  3/24/2016   EUR    46.33
Commerzbank AG              9.00  2/25/2016   EUR    65.83
Commerzbank AG              5.75  3/24/2016   EUR    74.47
Commerzbank AG              7.50  3/24/2016   EUR    71.67
Commerzbank AG              5.00  3/24/2016   EUR    40.91
Commerzbank AG              7.75  3/24/2016   EUR    37.85
Commerzbank AG             10.75  3/24/2016   EUR    35.31
UBS AG/London               4.75  3/29/2016   CHF    72.00
UBS AG/London               9.00  3/29/2016   CHF    66.00
UBS AG/London               6.00  3/29/2016   CHF    60.40
UBS AG/London               4.00  3/29/2016   CHF    65.25
UBS AG/London               6.75  3/29/2016   CHF    59.65
UBS AG/London               5.00  3/29/2016   CHF    53.75
UBS AG/London               4.50  3/29/2016   CHF    69.95
UBS AG/London               4.50  3/29/2016   CHF    51.95
UBS AG/London               4.00  3/29/2016   CHF    65.35
Deutsche Bank AG            5.00  3/31/2016   EUR    46.70
Vontobel Financial Produc   3.50   4/6/2017   EUR    62.97
UniCredit Bank AG           5.00  3/24/2016   EUR    69.53
UniCredit Bank AG           5.00  3/24/2016   EUR    47.86
UniCredit Bank AG           5.65  3/24/2016   EUR    42.49
UniCredit Bank AG           5.70  3/24/2016   EUR    42.32
UniCredit Bank AG           4.30  3/24/2016   EUR    75.22
UniCredit Bank AG           4.35  3/24/2016   EUR    70.34
UniCredit Bank AG           5.60  3/24/2016   EUR    42.66
UniCredit Bank AG           4.90  3/24/2016   EUR    45.19
UniCredit Bank AG           5.75  3/24/2016   EUR    42.14
UniCredit Bank AG           5.10  3/24/2016   EUR    44.44
UniCredit Bank AG           5.20  3/24/2016   EUR    69.96
UniCredit Bank AG           4.50  3/24/2016   EUR    51.83
UniCredit Bank AG           5.00  3/24/2016   EUR    73.85
UniCredit Bank AG           5.05  3/24/2016   EUR    44.60
UniCredit Bank AG           4.00  3/24/2016   EUR    73.07
UniCredit Bank AG           4.50  3/24/2016   EUR    67.43
UniCredit Bank AG           5.00  3/24/2016   EUR    67.42
UniCredit Bank AG           5.25  3/24/2016   EUR    43.89
UniCredit Bank AG           5.55  3/24/2016   EUR    42.83
UniCredit Bank AG           4.70  3/24/2016   EUR    50.16
UniCredit Bank AG           4.80  3/24/2016   EUR    50.30
UniCredit Bank AG           4.20  3/24/2016   EUR    71.46
UniCredit Bank AG           5.80  3/24/2016   EUR    41.99
UniCredit Bank AG           4.50  3/24/2016   EUR    74.09
UniCredit Bank AG           4.50  3/24/2016   EUR    74.36
UniCredit Bank AG           4.60  3/24/2016   EUR    73.54
UniCredit Bank AG           4.70  3/24/2016   EUR    66.29
UniCredit Bank AG           4.40  3/24/2016   EUR    52.70
UniCredit Bank AG           4.20  3/24/2016   EUR    54.56
UniCredit Bank AG           5.10  3/24/2016   EUR    70.48
UniCredit Bank AG           4.00  3/24/2016   EUR    71.27
UniCredit Bank AG           4.60  3/24/2016   EUR    68.82
UniCredit Bank AG           4.50  3/24/2016   EUR    63.50
UniCredit Bank AG           4.50  3/24/2016   EUR    69.18
UniCredit Bank AG           4.70  3/24/2016   EUR    72.69
UniCredit Bank AG           5.00  3/24/2016   EUR    64.57
UniCredit Bank AG           4.60  3/24/2016   EUR    73.51
UniCredit Bank AG           5.40  3/24/2016   EUR    69.04
UniCredit Bank AG           4.90  3/24/2016   EUR    71.44
UniCredit Bank AG           4.30  3/24/2016   EUR    53.61
UniCredit Bank AG           4.80  3/24/2016   EUR    60.68
UniCredit Bank AG           4.10  3/24/2016   EUR    72.26
UniCredit Bank AG           5.15  3/24/2016   EUR    44.25
UniCredit Bank AG           4.90  3/24/2016   EUR    48.59
UniCredit Bank AG           5.00  3/24/2016   EUR    49.45
UniCredit Bank AG           4.70  3/24/2016   EUR    73.04
UniCredit Bank AG           4.35  3/24/2016   EUR    75.20
UniCredit Bank AG           5.20  3/24/2016   EUR    44.05
UniCredit Bank AG           4.45  3/24/2016   EUR    69.55
UniCredit Bank AG           5.30  3/24/2016   EUR    69.51
UniCredit Bank AG           5.00  3/24/2016   EUR    70.94
UniCredit Bank AG           5.50  3/24/2016   EUR    68.57
UniCredit Bank AG           5.95  3/24/2016   EUR    41.49
UniCredit Bank AG           4.90  3/24/2016   EUR    65.13
UniCredit Bank AG           6.00  3/24/2016   EUR    41.33
UniCredit Bank AG           4.80  3/24/2016   EUR    71.95
UniCredit Bank AG           4.20  3/24/2016   EUR    69.30
UniCredit Bank AG           4.90  3/24/2016   EUR    70.28
UniCredit Bank AG           4.80  3/24/2016   EUR    49.36
UniCredit Bank AG           4.30  3/24/2016   EUR    75.76
UniCredit Bank AG           4.05  3/24/2016   EUR    70.60
UniCredit Bank AG           4.75  3/24/2016   EUR    71.87
UniCredit Bank AG           5.50  3/24/2016   EUR    66.42
UniCredit Bank AG           4.40  3/24/2016   EUR    69.93
UniCredit Bank AG           4.25  3/24/2016   EUR    76.34
UniCredit Bank AG           4.90  3/24/2016   EUR    67.76
UniCredit Bank AG           5.50  3/24/2016   EUR    43.00
UniCredit Bank AG           4.80  3/24/2016   EUR    65.71
UniCredit Bank AG           4.70  3/24/2016   EUR    68.47
UniCredit Bank AG           4.85  3/24/2016   EUR    45.38
UniCredit Bank AG           5.10  3/24/2016   EUR    67.08
UniCredit Bank AG           4.60  3/24/2016   EUR    66.83
UniCredit Bank AG           4.30  3/24/2016   EUR    68.67
UniCredit Bank AG           4.40  3/24/2016   EUR    66.37
UniCredit Bank AG           5.30  3/24/2016   EUR    43.71
UniCredit Bank AG           4.80  3/24/2016   EUR    45.56
UniCredit Bank AG           4.40  3/24/2016   EUR    68.04
UniCredit Bank AG           4.60  3/24/2016   EUR    61.73
UniCredit Bank AG           7.50  3/24/2016   EUR    73.37
UniCredit Bank AG           5.40  3/24/2016   EUR    43.35
UniCredit Bank AG           4.10  3/24/2016   EUR    55.53
UniCredit Bank AG           5.00  3/24/2016   EUR    60.97
UniCredit Bank AG           4.80  3/24/2016   EUR    62.21
UniCredit Bank AG           4.80  3/24/2016   EUR    79.54
UniCredit Bank AG           5.35  3/24/2016   EUR    43.51
UniCredit Bank AG           4.40  3/24/2016   EUR    74.76
UniCredit Bank AG           5.00  3/24/2016   EUR    44.79
UniCredit Bank AG           4.95  3/24/2016   EUR    44.98
UniCredit Bank AG           4.40  3/24/2016   EUR    74.64
UniCredit Bank AG           4.50  3/24/2016   EUR    63.38
UniCredit Bank AG           4.05  3/24/2016   EUR    72.66
UniCredit Bank AG           5.85  3/24/2016   EUR    41.81
UniCredit Bank AG           5.25  3/24/2016   EUR    64.06
UniCredit Bank AG           4.50  3/24/2016   EUR    52.03
UniCredit Bank AG           5.45  3/24/2016   EUR    43.18
UniCredit Bank AG           5.90  3/24/2016   EUR    41.65
UniCredit Bank AG           4.75  3/24/2016   EUR    72.51
UniCredit Bank AG           5.50  3/24/2016   EUR    63.55
UniCredit Bank AG           5.20  3/24/2016   EUR    66.74
UniCredit Bank AG           4.80  3/24/2016   EUR    68.11
UniCredit Bank AG           4.30  3/24/2016   EUR    70.69
UniCredit Bank AG           5.00  3/24/2016   EUR    77.95
UniCredit Bank AG           4.60  3/24/2016   EUR    51.14
UniCredit Bank AG           4.15  3/24/2016   EUR    71.86
UniCredit Bank AG           4.80  3/24/2016   EUR    71.06
UniCredit Bank AG           4.10  3/24/2016   EUR    69.92
UniCredit Bank AG           4.25  3/24/2016   EUR    71.07
UniCredit Bank AG           4.60  3/24/2016   EUR    50.98
UniCredit Bank AG           5.00  3/24/2016   EUR    59.67
Landesbank Hessen-Thuerin   4.25  7/27/2016   EUR    58.30
Commerzbank AG              9.00  3/24/2016   EUR    58.92
Vontobel Financial Produc   5.20  3/29/2016   EUR    52.52
DZ Bank AG Deutsche Zentr   5.50  3/21/2016   EUR    52.07
DZ Bank AG Deutsche Zentr   6.40  3/21/2016   EUR    50.47
DZ Bank AG Deutsche Zentr   5.40  6/20/2016   EUR    53.40
DZ Bank AG Deutsche Zentr   6.30  6/20/2016   EUR    52.03
DZ Bank AG Deutsche Zentr   4.20  3/21/2016   EUR    73.98
DZ Bank AG Deutsche Zentr   4.10  3/21/2016   EUR    47.24
DZ Bank AG Deutsche Zentr   4.70  3/21/2016   EUR    69.81
Vontobel Financial Produc  17.20  4/22/2016   EUR    55.66
Zurcher Kantonalbank Fina  11.50  3/29/2016   EUR    74.25
Commerzbank AG              7.45  3/30/2016   EUR    58.64
Commerzbank AG              7.40  3/30/2016   EUR    72.23
Zurcher Kantonalbank Fina  10.00   4/7/2016   CHF    54.13
Zurcher Kantonalbank Fina   8.50   4/7/2016   CHF    62.72
HSBC Trinkaus & Burkhardt   7.20  3/25/2016   EUR    72.00
HSBC Trinkaus & Burkhardt   6.40  3/25/2016   EUR    73.03
HSBC Trinkaus & Burkhardt   4.90  3/25/2016   EUR    67.12
HSBC Trinkaus & Burkhardt   4.10  3/25/2016   EUR    67.05
HSBC Trinkaus & Burkhardt   5.50  3/25/2016   EUR    51.00
HSBC Trinkaus & Burkhardt   7.00  3/25/2016   EUR    70.86
HSBC Trinkaus & Burkhardt   5.90  3/25/2016   EUR    70.76
HSBC Trinkaus & Burkhardt   4.90  3/25/2016   EUR    66.21
HSBC Trinkaus & Burkhardt   7.30  3/25/2016   EUR    43.50
HSBC Trinkaus & Burkhardt   7.10  3/25/2016   EUR    62.40
HSBC Trinkaus & Burkhardt   5.70  3/25/2016   EUR    72.37
HSBC Trinkaus & Burkhardt   6.30  3/25/2016   EUR    41.35
HSBC Trinkaus & Burkhardt  10.00  3/25/2016   EUR    48.68
HSBC Trinkaus & Burkhardt   9.80  3/25/2016   EUR    48.66
HSBC Trinkaus & Burkhardt   7.20  3/25/2016   EUR    61.14
HSBC Trinkaus & Burkhardt   6.50  3/25/2016   EUR    61.08
HSBC Trinkaus & Burkhardt   4.30  3/25/2016   EUR    67.33
HSBC Trinkaus & Burkhardt   7.20  3/25/2016   EUR    78.86
HSBC Trinkaus & Burkhardt   5.90  3/25/2016   EUR    78.73
HSBC Trinkaus & Burkhardt   6.10  3/25/2016   EUR    53.15
HSBC Trinkaus & Burkhardt   4.50  3/25/2016   EUR    53.01
HSBC Trinkaus & Burkhardt   6.90  3/25/2016   EUR    70.66
HSBC Trinkaus & Burkhardt   6.90  3/25/2016   EUR    62.02
HSBC Trinkaus & Burkhardt   5.90  3/25/2016   EUR    62.13
Vontobel Financial Produc   9.00  4/22/2016   EUR    70.99
Vontobel Financial Produc   6.50  4/22/2016   EUR    69.98
Vontobel Financial Produc   6.50  4/22/2016   EUR    42.32
Landesbank Hessen-Thuerin   4.00  4/30/2019   EUR    68.92
Vontobel Financial Produc   5.40  4/22/2016   EUR    42.45
Vontobel Financial Produc   4.75  4/22/2016   EUR    81.68
Vontobel Financial Produc   5.65  4/22/2016   EUR    66.95
DZ Bank AG Deutsche Zentr   5.00  3/29/2016   EUR    69.67
DZ Bank AG Deutsche Zentr   5.25  6/24/2016   EUR    68.52
DZ Bank AG Deutsche Zentr   5.25  3/29/2016   EUR    70.48
DZ Bank AG Deutsche Zentr   5.25  6/24/2016   EUR    69.38
DZ Bank AG Deutsche Zentr   7.00  6/24/2016   EUR    46.63
DZ Bank AG Deutsche Zentr   5.50  3/29/2016   EUR    46.90
DZ Bank AG Deutsche Zentr   5.75  6/24/2016   EUR    47.37
Bank Julius Baer & Co Ltd   9.40 10/14/2016   EUR    45.45
Bank Julius Baer & Co Ltd  14.00 10/14/2016   USD    67.95
Vontobel Financial Produc   5.05   4/4/2016   EUR    73.85
BNP Paribas Emissions- un   5.50  3/24/2016   EUR    73.76
BNP Paribas Emissions- un   6.50  3/24/2016   EUR    70.42
BNP Paribas Emissions- un   7.50  3/24/2016   EUR    68.91
BNP Paribas Emissions- un   9.50  3/24/2016   EUR    66.09
BNP Paribas Emissions- un  11.00  3/24/2016   EUR    64.81
BNP Paribas Emissions- un   5.00  6/23/2016   EUR    74.28
BNP Paribas Emissions- un   7.50  6/23/2016   EUR    70.05
BNP Paribas Emissions- un   6.00  3/24/2016   EUR    58.74
BNP Paribas Emissions- un  12.00  3/24/2016   EUR    50.87
BNP Paribas Emissions- un   6.00  9/22/2016   EUR    60.25
BNP Paribas Emissions- un   9.00  3/24/2016   EUR    70.70
BNP Paribas Emissions- un  10.00  6/23/2016   EUR    69.65
BNP Paribas Emissions- un   9.50  6/23/2016   EUR    66.30
BNP Paribas Emissions- un   5.50  9/22/2016   EUR    73.94
BNP Paribas Emissions- un   6.50  9/22/2016   EUR    71.29
BNP Paribas Emissions- un   8.50  9/22/2016   EUR    68.07
BNP Paribas Emissions- un  10.00  9/22/2016   EUR    66.94
BNP Paribas Emissions- un   6.50 12/22/2016   EUR    72.93
BNP Paribas Emissions- un   9.00 12/22/2016   EUR    68.70
BNP Paribas Emissions- un   5.50  3/24/2016   EUR    69.57
BNP Paribas Emissions- un  11.00  6/23/2016   EUR    68.63
BNP Paribas Emissions- un   9.50  9/22/2016   EUR    70.47
BNP Paribas Emissions- un   7.50 12/22/2016   EUR    75.67
BNP Paribas Emissions- un   4.00  3/24/2016   EUR    69.36
BNP Paribas Emissions- un   6.00  3/24/2016   EUR    69.51
BNP Paribas Emissions- un   9.00  6/23/2016   EUR    63.22
BNP Paribas Emissions- un   7.00  3/24/2016   EUR    70.80
BNP Paribas Emissions- un   9.50  3/24/2016   EUR    66.59
BNP Paribas Emissions- un   9.00  6/23/2016   EUR    67.95
BNP Paribas Emissions- un   7.00  9/22/2016   EUR    72.05
BNP Paribas Emissions- un   8.00 12/22/2016   EUR    71.50
BNP Paribas Emissions- un   9.50 12/22/2016   EUR    68.47
BNP Paribas Emissions- un  10.00  3/24/2016   EUR    61.31
BNP Paribas Emissions- un  11.00  3/24/2016   EUR    58.97
BNP Paribas Emissions- un   5.50  6/23/2016   EUR    68.79
BNP Paribas Emissions- un   7.50  6/23/2016   EUR    63.97
BNP Paribas Emissions- un   9.00  6/23/2016   EUR    61.99
BNP Paribas Emissions- un   5.50  9/22/2016   EUR    69.60
BNP Paribas Emissions- un   7.50  9/22/2016   EUR    65.57
BNP Paribas Emissions- un   9.50  9/22/2016   EUR    62.12
BNP Paribas Emissions- un   6.00 12/22/2016   EUR    67.92
BNP Paribas Emissions- un   8.50 12/22/2016   EUR    63.19
BNP Paribas Emissions- un   9.50  3/24/2016   EUR    74.26
BNP Paribas Emissions- un   9.50  6/23/2016   EUR    73.83
BNP Paribas Emissions- un   7.00  3/24/2016   EUR    66.57
BNP Paribas Emissions- un   8.50  3/24/2016   EUR    63.83
BNP Paribas Emissions- un  10.00  9/22/2016   EUR    73.29
BNP Paribas Emissions- un  11.00  9/22/2016   EUR    72.43
BNP Paribas Emissions- un   9.50 12/22/2016   EUR    73.95
BNP Paribas Emissions- un   4.00  3/24/2016   EUR    58.71
BNP Paribas Emissions- un   6.00  3/24/2016   EUR    54.69
BNP Paribas Emissions- un   7.50  3/24/2016   EUR    52.94
BNP Paribas Emissions- un   9.00  3/24/2016   EUR    51.30
BNP Paribas Emissions- un  11.00  3/24/2016   EUR    48.29
BNP Paribas Emissions- un   5.50  6/23/2016   EUR    58.08
BNP Paribas Emissions- un   8.00  6/23/2016   EUR    53.31
BNP Paribas Emissions- un   6.00  9/22/2016   EUR    57.67
BNP Paribas Emissions- un   8.00  9/22/2016   EUR    55.27
BNP Paribas Emissions- un   9.50  9/22/2016   EUR    53.00
BNP Paribas Emissions- un   6.50 12/22/2016   EUR    57.63
BNP Paribas Emissions- un   8.50 12/22/2016   EUR    54.49
BNP Paribas Emissions- un   8.50  3/24/2016   EUR    63.81
BNP Paribas Emissions- un  10.00  3/24/2016   EUR    61.68
BNP Paribas Emissions- un   4.50  6/23/2016   EUR    70.83
BNP Paribas Emissions- un   6.50  6/23/2016   EUR    66.64
BNP Paribas Emissions- un   8.00  6/23/2016   EUR    64.86
BNP Paribas Emissions- un  10.00  6/23/2016   EUR    61.32
BNP Paribas Emissions- un   5.00  9/22/2016   EUR    68.96
BNP Paribas Emissions- un   7.00  9/22/2016   EUR    65.73
BNP Paribas Emissions- un   9.00  9/22/2016   EUR    62.89
BNP Paribas Emissions- un   5.00 12/22/2016   EUR    69.35
BNP Paribas Emissions- un   3.00  3/24/2016   EUR    69.16
BNP Paribas Emissions- un   6.00  3/24/2016   EUR    65.56
BNP Paribas Emissions- un   7.00  3/24/2016   EUR    62.21
BNP Paribas Emissions- un  10.00  3/24/2016   EUR    59.35
BNP Paribas Emissions- un  12.00  3/24/2016   EUR    56.71
BNP Paribas Emissions- un   7.00  6/23/2016   EUR    62.98
BNP Paribas Emissions- un   8.00  9/22/2016   EUR    62.07
BNP Paribas Emissions- un   9.00  9/22/2016   EUR    59.98
BNP Paribas Emissions- un   5.50  3/24/2016   EUR    68.56
BNP Paribas Emissions- un   7.00  3/24/2016   EUR    66.10
BNP Paribas Emissions- un   7.50 12/22/2016   EUR    65.33
BNP Paribas Emissions- un   9.50 12/22/2016   EUR    63.35
BNP Paribas Emissions- un  12.00  6/23/2016   EUR    73.40
BNP Paribas Emissions- un   4.00  3/24/2016   EUR    74.50
BNP Paribas Emissions- un   5.00  3/24/2016   EUR    71.80
BNP Paribas Emissions- un   6.50  3/24/2016   EUR    69.33
BNP Paribas Emissions- un   8.50  3/24/2016   EUR    64.80
BNP Paribas Emissions- un  10.00  3/24/2016   EUR    62.80
BNP Paribas Emissions- un  13.00  3/24/2016   EUR    59.17
BNP Paribas Emissions- un   5.00  6/23/2016   EUR    71.53
BNP Paribas Emissions- un   6.50  6/23/2016   EUR    67.15
BNP Paribas Emissions- un   8.50  6/23/2016   EUR    63.62
BNP Paribas Emissions- un  10.00  6/23/2016   EUR    62.18
BNP Paribas Emissions- un   5.00  9/22/2016   EUR    72.24
BNP Paribas Emissions- un   7.00  9/22/2016   EUR    66.74
BNP Paribas Emissions- un   9.00  9/22/2016   EUR    64.00
BNP Paribas Emissions- un  11.00  9/22/2016   EUR    61.66
BNP Paribas Emissions- un   5.00 12/22/2016   EUR    70.88
BNP Paribas Emissions- un   7.00  3/24/2016   EUR    75.41
BNP Paribas Emissions- un   8.00  3/24/2016   EUR    73.35
BNP Paribas Emissions- un   3.00  3/24/2016   EUR    75.15
BNP Paribas Emissions- un   5.00  3/24/2016   EUR    71.15
BNP Paribas Emissions- un   7.00  3/24/2016   EUR    67.57
BNP Paribas Emissions- un   8.50  3/24/2016   EUR    65.97
BNP Paribas Emissions- un  10.00  3/24/2016   EUR    64.45
BNP Paribas Emissions- un   5.00  6/23/2016   EUR    71.07
BNP Paribas Emissions- un   7.00  6/23/2016   EUR    68.13
BNP Paribas Emissions- un   9.00  6/23/2016   EUR    65.52
BNP Paribas Emissions- un   5.50  9/22/2016   EUR    70.67
BNP Paribas Emissions- un   8.00  9/22/2016   EUR    67.17
BNP Paribas Emissions- un  13.00  3/24/2016   EUR    72.86
BNP Paribas Emissions- un  11.00  6/23/2016   EUR    75.25
BNP Paribas Emissions- un   9.00  3/24/2016   EUR    71.41
BNP Paribas Emissions- un   8.00  6/23/2016   EUR    74.58


                            *********

Monday's edition of the TCR delivers a list of indicative prices
for bond issues that reportedly trade well below par.  Prices are
obtained by TCR editors from a variety of outside sources during
the prior week we think are reliable.  Those sources may not,
however, be complete or accurate.  The Monday Bond Pricing table
is compiled on the Friday prior to publication.  Prices reported
are not intended to reflect actual trades.  Prices for actual
trades are probably different.  Our objective is to share
information, not make markets in publicly traded securities.
Nothing in the TCR constitutes an offer or solicitation to buy or
sell any security of any kind.  It is likely that some entity
affiliated with a TCR editor holds some position in the issuers'
public debt and equity securities about which we report.

Each Tuesday edition of the TCR contains a list of companies with
insolvent balance sheets whose shares trade higher than US$3 per
share in public markets.  At first glance, this list may look
like the definitive compilation of stocks that are ideal to sell
short.  Don't be fooled.  Assets, for example, reported at
historical cost net of depreciation may understate the true value
of a firm's assets.  A company may establish reserves on its
balance sheet for liabilities that may never materialize.  The
prices at which equity securities trade in public market are
determined by more than a balance sheet solvency test.

Each Friday's edition of the TCR includes a review about a book
of interest to troubled company professionals.  All titles are
available at your local bookstore or through Amazon.com.  Go to
http://www.bankrupt.com/booksto order any title today.


                            *********


S U B S C R I P T I O N   I N F O R M A T I O N

Troubled Company Reporter-Europe is a daily newsletter co-
published by Bankruptcy Creditors' Service, Inc., Fairless Hills,
Pennsylvania, USA, and Beard Group, Inc., Washington, D.C., USA.
Valerie U. Pascual, Marites O. Claro, Rousel Elaine T. Fernandez,
Joy A. Agravante, Ivy B. Magdadaro, and Peter A. Chapman,
Editors.

Copyright 2016.  All rights reserved.  ISSN 1529-2754.

This material is copyrighted and any commercial use, resale or
publication in any form (including e-mail forwarding, electronic
re-mailing and photocopying) is strictly prohibited without prior
written permission of the publishers.

Information contained herein is obtained from sources believed to
be reliable, but is not guaranteed.

The TCR Europe subscription rate is US$775 per half-year,
delivered via e-mail.  Additional e-mail subscriptions for
members of the same firm for the term of the initial subscription
or balance thereof are US$25 each.  For subscription information,
contact Peter Chapman at 215-945-7000 or Nina Novak at
202-362-8552.


                 * * * End of Transmission * *