TCREUR_Public/161017.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, October 17, 2016, Vol. 17, No. 205


                            Headlines


B E L G I U M

NYRSTAR NV: Moody's Affirms Caa1 Corporate Family Rating


F R A N C E

EUROPEAN FORECOURT: S&P Affirms 'B' CCR, Outlook Stable
HORIZON HOLDINGS: S&P Affirms 'B' CCR, Outlook Stable
TEREOS UNION: Fitch Assigns BB(EXP) Rating to EUR100MM Sr. Notes


G E R M A N Y

HELIOCENTRIS ENERGY: Court Approves Insolvency Application


G R E E C E

GREECE: To Start Fresh Bailout Talks with Creditors This Week


I R E L A N D

CARLYLE GLOBAL 2016-2: S&P Assigns Prelim. B- Rating to E Notes
SCF RAHOITUSPALVELUT II: Moody's Rates Class E Notes (P)Ba2
SILENUS LIMITED: Moody's Raises Rating on Class D Notes to B1


L U X E M B O U R G

DEA FINANCE: Fitch Rates EUR400MM 7.5% Notes 'BB'


N E T H E R L A N D S

DCDML 2016-1: Moody's Assigns B2 Rating to Class E Notes
LEOPARD CLO II: S&P Cuts Rating on D Notes to 'D' Then Withdraws


R U S S I A

ALROSA PJSC: Fitch Raises IDR to 'BB+', Outlook Stable
REPUBLICAN INVESTMENT: S&P Affirms Then Withdraws 'B' ICR Rating

* S&P Revises Outlooks on 11 Russia-Related Finc'l Institutions


S P A I N

BANCO DE CREDITO: Fitch Assigns 'B+(EXP)' Rating to Sub. Notes
INSTITUTO VALENCIANO: S&P Affirms 'BB/B' ICRs, Outlook Stable


T U R K E Y

TURKIYE VAKIFLAR: Fitch Affirms 'BB+' Rating on Subordinated Debt


U N I T E D   K I N G D O M

BHS GROUP: MPs to Vote on Stripping Sir Philip Green's Knighthood
ENQUEST PLC: To Undergo Complex Financial Restructurings
EURO GARAGES: S&P Affirms Parent's 'B' CCR, Outlook Stable
FINSBURY SQUARE 2016-2: Moody's Rates Class X Notes Caa1
GULF KEYSTONE: Capital Restructuring Hits Investors

* UK: "Hard Brexit" May Lead to Upswing in Insolvencies


X X X X X X X X

* BOND PRICING: For the Week October 10 to October 14, 2016


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B E L G I U M
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NYRSTAR NV: Moody's Affirms Caa1 Corporate Family Rating
--------------------------------------------------------
Moody's Investors Service ("Moody's") has affirmed the Caa1
corporate family rating (CFR) and Caa1-PD probability of default
rating (PDR) of Nyrstar NV ("Nyrstar"). The Caa1 rating of the
existing EUR350 million senior unsecured guaranteed notes due
2019 issued by Nyrstar Netherlands (Holdings) B.V., a subsidiary
of Nyrstar, has also been affirmed. Concurrently, the rating
agency has changed the outlook on all Nyrstar's ratings to
positive from stable.

RATINGS RATIONALE

Rationale for outlook change to positive

The change of outlook to positive from stable reflects Moody's
expectation that the company will continue to make progress in
the turnaround and divestment of its non-core mining business,
while sustained higher zinc prices will support rising operating
profitability and cash flows.

Credit metrics and liquidity, which are still considered as weak,
should also start gradually improving from Q4 2016 onwards, while
Q3 results should be weak, on the back of several unplanned, one-
off production outages and operational issues at some smelters
and mines. These issues have reduced production levels during Q3
and prompted management to revise their full year guidance
downwards. However, full restoration of normal operating activity
from Q4 and into 2017, improved zinc prices and progressive ramp-
up of the Port Pirie redevelopment project over the coming
quarters, would provide an uplift to the company's EBITDA and
deleveraging prospects, especially from 2018 onwards when the
Port Pirie redevelopment project is anticipated to run at full
capacity and its associated capex requirements should become
modest.

The positive outlook is also underpinned by Moody's expectation
that Trafigura (unrated), the main shareholder of Nyrstar with a
24.6% equity stake, will continue to be supportive, by extending
its US$150m loan facility before its maturity date in January
2017. The rating outlook also reflects Moody's expectation that
the company will remain in compliance with its financial
maintenance covenants, with an adequate headroom at all times.
The absence of meaningful debt maturities for the rest of 2016
and in 2017, and the possibility to defer the amortization of the
perpetual notes issued to fund the Port Pirie redevelopment
project, should ease liquidity pressure over the next several
quarters.

Rationale for affirmation of CFR

The affirmation of the CFR of Nyrstar at Caa1 reflects a still
weak financial profile, which remains characterized by limited
liquidity headroom and by a highly leveraged capital structure.
Liquidity remains tight, albeit it has more recently benefitted
from (i) the issuance of EUR 115m of convertible notes in August
2016 (unrated), (ii) the rollover of the undrawn EUR 50m KBC
bilateral facility in July 2016 for another year and (iii) a new
US$150m short term loan made available from Trafigura last May,
which Moody's assumes will be rolled-over before maturity in
January 2017 and become fully committed, and (iv) a EUR 274m
rights offering completed in February 2016. Although these
additional funds are building headroom, liquidity remains under
pressure because the company is projected to generate negative
free cash flows over the next 12 to 18 months, due to its ongoing
capex requirements mainly associated to Port Pirie, other minor
projects and the retained mining business still exceeding cash
flows from operations. In order to preserve a minimum liquidity
buffer, Moody's anticipates more debt drawings would be needed.
Furthermore, the rating agency assumes that the company will
elect to defer the amortization of the perpetual notes issued and
being issued to fund the Port Pirie project. Under such a
scenario, debt metrics would remain weak. Adjusted LTM gross
debt/EBITDA, which has peaked at 7.5x in June 2016, should remain
high in 2017 within a 5x to 6x range, mostly depending on the
level of zinc prices projected for next year. Under our
conservative zinc price assumptions for 2017, at $1,874/tonne
(17% lower than average zinc benchmark prices in September 2016),
and assuming zinc treatment charges to remain at $200/dmt at a
zinc basis price of $2,000/t, broadly in line with 2016 level,
adjusted gross leverage should be closer to 6x by end of 2017,
while adjusted cash flows from operations (CFO)/debt ratio should
be at c.5%, assuming no meaningful working capital movements over
the same period. As such, Moody's expects that 2017 will be
another transitional year, characterized by still weak, albeit
gradually improving credit metrics.

The Caa1 CFR also factors in the execution risk related to the
disposal of the mining business, which Moody's does not consider
as an easy process. Originally targeted to be complete by summer
2016, the disposal plan is still ongoing. Moody's expects the
company to retain a few mines, most likely the most profitable
ones, such as Langlois in Canada, and those closely integrated
with nearby smelters, namely the Tennessee mines. The improved
zinc fundamentals in the last few months have started to provide
positive momentum to the disposal process, and between June and
September the company announced agreements to dispose two of its
zinc mines, including El Mochito, one of its weakest and loss
making assets. Assuming the company retains its profitable
Langlois mine and restarts its Tennesse mines as more recently
indicated, the mining business should become cash flow neutral to
slightly positive in 2017, after it burned cash for most of 2016
(mining-related FCF was negative for c. EUR 20m in H1 2016).
Moody's notes that the suspension of underperforming mines and
the execution of a range of restructuring initiatives have
already had a positive impact on mining EBITDA, which has
sequentially improved during the last three quarters, from --EUR
22m in Q4 2015 to nearly breakeven in Q2 2016. Following the
anticipated disposal by end of this year of El Mochito mine,
which was loss making even at the higher zinc prices of Q2 2016,
the EBITDA of the mining business should become slightly
positive.

The Caa1 CFR factors in also some residual execution risk on the
large Port Pirie redevelopment project, although Moody's expects
that such risk is gradually reduced as the project is ramping-up
over the next 12 months. Once fully ramped-up in 2018, the
revamped smelter should provide an annual EBITDA uplift of
approximately EUR80m, which would allow a faster deleveraging
towards 4.5x even under our conservative zinc price and treatment
charge assumptions for 2018, of $1,984/tonne and $200/dmt
respectively. By 2018, free cash flows should also turn to
slightly positive, as a combined effect of higher cash flows from
operations and reduced capex requirements.

STRUCTURAL CONSIDERATIONS

The Caa1 rating assigned to the EUR350 million senior unsecured
guaranteed notes due 2019 reflects the relative positioning of
this instrument behind the undrawn senior secured EUR400 million
revolving borrowing base facility and ahead of other senior
unsecured obligations of the group. Such obligations were raised
at the level of various holding companies and are not benefitting
from the guarantees of the operating subsidiaries, unlike the
rated notes which continue to benefit from the senior unsecured
guarantees by the main operating subsidiaries. As of 31 December
2015, the Issuer and the Guarantors represented 90.2% of
Nyrstar's total underlying EBITDA and 70.5% of Nyrstar's total
assets.

What could change the rating up

A potential rating upgrade would be considered if the company
manages to sell most of its mining business and can improve its
liquidity to an adequate level. A sustained recovery of zinc
prices leading to revise our price assumptions further upwards,
and completion of the ramp-up of the Port Pirie smelter project
in line or ahead of budget, would also contribute towards a
possible rating upgrade, as both developments would have a
positive impact on cash flows and credit metrics. A rating
upgrade however would also require sustained deleveraging, with
an adjusted gross debt/EBITDA ratio falling below 5.5x.

What could change the rating down

A downgrade, albeit currently considered as unlikely, would be
considered if the company does not proactively address its
liquidity needs. Weaker credit metrics than currently anticipated
under Moody's assumptions, and materially reduced headroom under
the financial maintenance covenants will also exert negative
rating pressure.

The principal methodology used in these ratings was Global Mining
Industry published in August 2014.

Listed in Belgium and headquartered in Switzerland, Nyrstar NV is
a medium-sized integrated smelting and mining company, owning
nine mines (out of which five are currently operating), six
smelters and a fumer. Smelting facilities are located in Northern
Europe, the US and Australia. During 2016 the company is
completing its AUD 563 million (approximately EUR 368 million)
Port Pirie smelter redevelopment project in Australia (the 'Port
Pirie project'), which would enable a major expansion of its
metal processing business, once fully ramped-up by end of 2017.
The company is currently seeking to exit the mining business and
transform itself into a metal processing only business.

Nyrstar is listed on Euronext Brussels exchange with a market
capitalization of c. EUR 0.8bn and reported 2015 revenues of
EUR3,139 million. The single main shareholder of Nyrstar is
Trafigura (unrated), with a 24.6% equity stake.


===========
F R A N C E
===========


EUROPEAN FORECOURT: S&P Affirms 'B' CCR, Outlook Stable
-------------------------------------------------------
S&P Global Ratings affirmed its 'B' long-term corporate credit
rating on France- and Benelux-based European Forecourt Retail
Group B.V. (EFR).  The outlook is stable.

S&P equalizes the ratings on EFR with those on its new parent,
Intervias Group, following the announcement that EFR and Euro
Garages will merge.  S&P views EFR as a core subsidiary of
Intervias and consider that it is integral to the group's
strategy and performance, in particular through fuel purchasing
and distribution expertise and international experience.  EFR
services approximately 1,100 fuel stations and convenience stores
in France and the Benelux countries, while Euro Garages services
about 340 stations in the U.K. and contributes more than 50% of
the combined entity's EBITDA.

S&P notes that EFR and Euro Garages will continue to operate
under their own names with their current CEOs and senior
leadership teams.

The merger is subject to customary regulatory approvals and is
expected to be completed no later than November 2016.

The stable outlook on EFR mirrors that on Intervias Group.  The
ratings on the two entities will move in tandem provided S&P
continues to regard EFR as a core subsidiary within Intervias
Group.


HORIZON HOLDINGS: S&P Affirms 'B' CCR, Outlook Stable
-----------------------------------------------------
S&P Global Ratings affirmed its 'B' long-term corporate credit
rating on Horizon Holdings I, the France-based financial holding
company for glass packaging manufacturer Verallia.  S&P also
affirmed the 'B' long-term corporate credit rating on Verallia's
finance subsidiary, Verallia Packaging S.A.S.  The outlook on
both companies is stable.

S&P is withdrawing the 'CCC+' issue rating and '6' recovery
rating on the proposed EUR500 million payment-in-kind (PIK)
toggle notes that were not issued.  S&P is also withdrawing its
'B' corporate credit rating on Horizon Parent Holdings S.a.r.l.,
the expected issuer of the proposed PIK toggle notes.

At the same time S&P is affirming the 'B' issue ratings on the
existing EUR500 million senior secured notes, EUR250 million
senior secured revolving credit facility (RCF), and EUR1,375
million term loan issued by Verallia Packaging S.A.S., in line
with the corporate credit rating.  S&P's '3' recovery ratings
remains unchanged, reflecting its expectation of meaningful
recovery in the lower half of the 50%-70% range for the secured
lenders in the event of a payment default.

Furthermore, S&P is affirming the 'CCC+' issue rating on the
EUR225 million senior unsecured notes issued by Horizon Holdings
I.  The issue rating is two notches below the corporate credit
rating on the consolidated group, reflecting S&P's expectation of
negligible recovery (0%-10%) for the holders of the unsecured
notes in the event of a payment default.

The affirmation follows Verallia's announcement that it has
cancelled plans to raise an additional EUR500 million of PIK
toggle notes, in order to fund a EUR490 million distribution to
shareholders.  This follows the recent senior secured notes tap
completed in June 2016, which was used to fund a EUR230 million
distribution.  S&P viewed the proposed transaction as aggressive,
reflecting its view of the structure of the new instrument, which
had a shorter maturity than the senior debt; the sizable amount
of the debt, given that it was not subject to restricted group
covenants; and the rapid releveraging of the company, which saw
the shareholders return more than their initial investment within
a year post closing the acquisition.  Should the transaction have
completed, credit metrics for the consolidated group would have
materially deteriorated, with debt to EBITDA increasing to above
6.5x from S&P's previous expectations of less than 5.5x.

Although the transaction was not completed, S&P believes that
Verallia's financial sponsor owners Apollo have demonstrated an
appetite for increased leverage that we did not previously factor
into the ratings.  S&P cannot rule out the possibility that
similar debt-funded shareholder distributions could take place,
if the opportunity presents itself, and therefore believe that
there is a meaningful risk that leverage could increase
materially during base-case forecasts.

S&P's base case assumes:

   -- Eurozone GDP growth of 1.6% in 2016 and 1.4% in 2017.

   -- Revenue growth of 0%-2% in 2016 and 2017, closely tracking
      GDP growth in Europe, primarily driven by positive organic
      volume developments, but slightly offset by weak trading
      conditions in Brazil and adverse exchange rates.

   -- Improving margins as a result of cost-reduction measures
      and operating leverage through higher capacity utilization,
      resulting in the S&P Global Ratings-adjusted EBITDA margin
      improving to about 18%-19% over the next two years, up from
      about 17.5% (on a comparable basis) in 2015.

   -- Capital expenditures (capex) of about EUR200 million per
      year.

Based on these assumptions, S&P arrives at these credit measures:

   -- Debt to EBITDA of close to 5.6x for 2016, which S&P
      forecasts will trend downward slightly, owing to increased
      EBITDA, but remain above 5.2x over S&P's forecast horizon
      of two-to-three years, in the absence of further debt-
      funded transactions;

   -- Relatively stable funds from operations (FFO) to debt of
      11%-12%;

   -- Discretionary cash flow generation that remains depressed
      due to the group's high capital intensity, but that could
      turn marginally positive in 2017 if there are no further
      shareholder returns; and

   -- EBITDA and FFO cash interest coverage to remain sound at
      around 3.5x.

S&P considers that Verallia's highly leveraged financial risk
profile is constrained by the aggressive financial policies of
the group's financial sponsor shareholder, despite S&P's
base-case forecasts that indicate some underlying improvements to
credit metrics for the rating.  Although the timing of another
attempt to leverage the company remains somewhat uncertain, S&P
believes the company's financial strategy will likely lead to
leverage higher than its base-case projections.

S&P's assessment of Verallia's business risk profile is
constrained by its relatively undiversified product focus on
glass packaging, history of operational issues that have resulted
in recurring margin pressure, and high geographic concentration
in Europe (where four countries contribute about 80% of sales).
S&P's assessment also takes into account the group's high capital
intensity, which restricts its ability to generate meaningful
free operating cash flow.  These constraints are partly mitigated
by its leading market positions in its core European markets,
longstanding relationships with a broad and diversified customer
base, and relatively stable food and beverage end markets--
particularly in the relatively low-cyclical alcohol market.
Verallia is the third-largest glass packaging company worldwide,
after Owens-Illinois and Ardagh Glass.

The stable outlook reflects S&P's view that credit metrics will
likely remain highly leveraged, with the owners' financial policy
limiting the likelihood of any sustained deleveraging.  The
current rating factors in the risk of a moderate increase in
leverage.  S&P expects operating performance to remain solid,
with limited volume growth and stable pricing, while margins
should increase through Verallia's internal operational
improvement program, and that this could result in gradually
improving credit metrics over the coming 12-24 months.

The ratings factor in the risk that the group's relatively
aggressive financial policies could result in a weakening of
credit metrics as a result of large debt-funded acquisitions or
additional shareholder returns, so S&P sees a further lowering of
the rating in the next 12 months as unlikely.  A downgrade could,
however, stem from a significant shortfall in operating
performance compared with S&P's base case.  This could occur as a
result of furnace outages or operational failures caused by
technical defects, such that earnings and cash flow generation
lead to weaker liquidity or FFO cash interest coverage falling
below 1.5x.

S&P believes that the likelihood of an upgrade is limited at this
stage, because of Verallia's high tolerance for relatively
aggressive financial policies and high leverage given its
financial sponsor ownership.  An upgrade is therefore more likely
to be driven by an upward reassessment of the company's business
risk profile.  This could be a result of a sustained improvement
in profitability metrics, including return on capital over 13%, a
track record of meaningful positive cash flow generation, and low
earnings volatility.


TEREOS UNION: Fitch Assigns BB(EXP) Rating to EUR100MM Sr. Notes
----------------------------------------------------------------
Fitch Ratings has assigned Tereos Union de Cooperatives Agricoles
a Capital Variable's minimum of EUR100 mil. planned tap of its
existing EUR400 mil. senior unsecured notes due 2023 an expected
rating of 'BB(EXP)'.  The bond is being issued through Tereos
Finance Groupe 1.

The final rating is contingent upon the receipt of final
documents conforming to information already received.

Fitch does not expect the proposed issuance to have significant
impact on Tereos' credit profile as the company will use most of
the proceeds to refinance more expensive bank facilities.  If not
all of the proceeds are used for refinancing, a potential -
although likely limited - increase in gross leverage could be
offset by greater financial flexibility due to a lowered interest
burden.  Furthermore, this will help further diversify the
group's sources of funding and extend average debt maturity.

The IDR of Tereos continues to reflect its weak credit metrics,
which likely bottomed out in the financial year ended March 31,
2016, (FY16), as well as a strong business profile.  The company
maintains a strong market position, supported by well-invested
assets, access to some of the higher-yielding sugarbeet regions
in Europe and growing diversification in terms of geography and
raw materials.  The cooperative ownership profile of Tereos also
contributes to its conservative financial policies.

                 KEY RATING DRIVERS FOR THE NOTES:

According to the bond documentation, the minimum of EUR500 mil.
(existing EUR400 mil. plus tap issue of minimum EUR100 mil.)
senior unsecured notes due 2023 and the EUR500 mil. senior
unsecured notes due 2020, both issued by Tereos Finance Groupe 1,
rank pari passu in the group's debt structure. They are
guaranteed on an unsecured basis by Tereos, and are therefore
subject to structural subordination not only to debt at Tereos
Sugar France (TSF) but also at Tereos's 78%-owned subsidiary
Tereos Internacional (TI).  TI's debt is non-recourse to TSF's
assets; therefore Fitch excludes it from the amount of debt
ranking above the senior unsecured notes in the payment waterfall
in case of default.

However, due to cross-default provisions linking the debt of TI's
subsidiaries, TI, TSF and Tereos, the rating on Tereos's senior
unsecured notes depends not only on the probability of default of
TSF and Tereos and the potential level of debt ranking ahead of
them, but also on TI's probability of default.

Due to the strong linkages between TSF, Tereos and TI, the senior
unsecured note rating is derived from the consolidated group's
IDR of 'BB'.  Usually, for issuers rated in the 'BB' category (a
transitional territory between investment-grade and highly
speculative), prior-ranking debt constituting 2x-2.5x EBITDA
indicates a high likelihood of subordination and lower recoveries
for unsecured debt.

As Fitch expects a recovery in EBITDA from the sugarbeet
business, we believe the level of senior secured (or other form
of prior-ranking) debt leverage at TSF is unlikely to rise beyond
2.0x within the next three years.  Fitch believes TSF (or Tereos)
is unlikely to increase its debt ranking prior to the notes to
support other group entities.  In addition, existing committed
debt ranking ahead of the senior unsecured notes relate to TSF's
EUR400m revolving credit facility (RCF), which exclusively funds
working capital needs throughout the year.  Based on the
company's historical intra-year working capital needs, average
intra-year outstanding RCF amounts are unlikely to rise beyond
2.0x TSF's EBITDA.  Therefore the senior unsecured notes are
rated at the same level as the group's IDR.

                   KEY RATING DRIVERS FOR THE IDR

Strong Business Profile

The IDR is underpinned by Tereos's strong business profile for
the 'BB' category, both in operational scope and position in
commodity markets with potential for long-term growth.  Due to
its strong market shares and cost competitiveness, Fitch expects
the group to benefit from a post-2017 deregulated European
sweeteners market. Geographic and product diversification as well
as efforts to increase efficiency also support Tereos's business
risk profile.

Successful Diversification
Tereos's diversification into the highly cost-competitive
Brazilian sugar market and into starch and sweeteners through TI
(accounted for 67% of FY16 group EBITDA) should increase
resilience against the current commodity down-cycle.  TI's
contribution to the group's EBITDA increased 19% yoy in FY16,
supported by increased production capacity and efficiency
measures taken over the past few years in both the sugarcane and
the starch and sweeteners divisions.  Fitch expects further
EBITDA growth over the next four years, even after taking into
account commodity price volatility.

Although the company's starch and sweeteners unit revenues and
profits (21% of FY16 group EBITDA), benefitted from low raw
materials and energy costs as well as higher ethanol prices in
Europe in FY16, they remain exposed to a challenging European
starch and sweetener market environment characterized by
stagnating demand and production overcapacity.  However, the unit
should see lower volatility as a result of ongoing cost savings
and efficiency measures, improved raw materials and geographical
diversification (in Brazil and Asia) as well as an increased
sales mix towards higher-margin products.

European Sugar Price Adjustment
Similar to other European sugar processors, Tereos's European
sugarbeet business has suffered a sharp contraction in
profitability in the last few years.  Its EBITDA dropped in FY16
to EUR146m, which is less than a third of its FY13 level,
following a steep decline in EU quota sugar prices largely linked
to the intervention of the European Commission in 2013.

Positively, European prices are on a recovery path due to the
sector's cutback in production, leading to a rapid drop in stock-
to-use ratios and supporting our expectation that in FY17 and
FY18 the sugarbeet division's EBITDA should improve.  Fitch
expects European sugar prices to decrease again in FY19 as they
eventually converge with international prices, with the removal
of the quota regime in September 2017.  This reflects Fitch's
conservative assumption that, while international prices have
significantly recovered since mid-2015, they are unlikely to grow
sustainably beyond the high level that should be reached by the
European prices in FY17-FY18.

European Sugar Exports
European sugar processors currently are unable to compensate low
prices with increases in sales volumes due to stagnant European
demand and regulatory constraints on foreign exports until
September 2017.  However, as the third-largest sugarbeet player
in Europe, Tereos should, once the cap is lifted, benefit from
its ability to source increased volumes of sugarbeet from some of
the most efficient farmers in Europe and expand its sales volumes
in Europe and via exports.  This volume increase should allow it
to largely compensate the adverse impact on its profits (from
FY19) from the likely price reduction.  As a result, Fitch
projects an only mild reduction of EBITDA from Tereos's sugarbeet
operations in FY19 from previous year.

Expected Profit Rebound
Fitch believes that the FY16 results represent the company's
lowest EBITDA point in the current cycle and expect a profit
rebound on the back of a recovery in sugar prices and efforts to
enhance competitiveness in sugar processing (both in Europe and
in Brazil). The group's Q117 results point to this direction.
Fitch also expects growing profit contribution from the starch
and sweeteners business, due to a better product mix, larger
capacity and higher industrial efficiency.

Fitch expects Tereos's underlying profitability, measured as
readily marketable inventories (RMI)-adjusted EBITDA/gross profit
(thus eliminating price fluctuations), to improve from FY17.
Additionally, once the current volume constraints in its
sugarbeet division are removed, underlying profitability should
gradually recover to pre-FY14 levels of above 40% (26% in FY16).

Expected Improvement of Credit Metrics

Tereos's RMI-adjusted funds from operations (FFO) gross leverage
rose to 6.1x in FY16 (FY15: 5.0x) as a result of reduced FFO and
RMI value.  TI's gross leverage, on the other hand, started to
improve to 6.3x from 7.5x during the same period, due to
recovering profitability.

Although these levels are not consistent with the current IDR,
Fitch expects Tereos's credit metrics to improve from FY17 on a
combination of a modest upturn in commodity prices, an increase
in sugar export volumes and overall a strengthened business
profile. We expect free cash flow (FCF) to turn neutral to
positive from FY19 on a sustained basis and RMI-adjusted FFO
gross leverage to decrease to around 4.0x in FY18, consistent
with levels for a 'BB' rating.

Adequate Financial Flexibility

Tereos's weak credit metrics is partially mitigated by adequate
financial flexibility.  The latter is supported by strict
financial discipline in shareholder distributions and M&A
spending, adequate liquidity management and healthy RMI-adjusted
FFO fixed charge cover throughout the commodity down-cycle.

In the low sugar price environment, cooperative owners have
demonstrated their financial support to Tereos by accepting a
sharp reduction in price complements (which Fitch treats as
dividends) to EUR5 mil. paid cash in FY15 and EUR2 mil. in FY16
from EUR57 mil. in FY14.  Fitch assumes these will remain subdued
so long as the profitability of Tereos's European sugar business
remains low.

Tereos's internal liquidity score, defined as unrestricted cash
plus RMI plus accounts receivables divided by total current
liabilities, improved to 1.1x in FY16 from 0.7x in FY14 as
management successfully lengthened the group's average debt
maturity profile.  This is consistent with levels for a 'BB'
rating. Liquidity is further supported by comfortable access to
diversified sources of external funding.  Fitch expects Tereos's
RMI-adjusted fixed charge cover to have reached its low point in
FY16 at 3.0x (TI: 2.7x) and to recover above 4.0x from FY18.
These levels remain comfortable for the ratings.

Parent-Subsidiary Linkage

Despite limited but growing operational, financial integration
and ownership, Tereos France's (TF) and Tereos's influential
control as well as their legal and strategic ties with TI are
very strong, making the parent and its subsidiary intrinsically
linked.

The development of TI has been promoted by Tereos's cooperative
owners through their financial support.  This, together with
Tereos's expected increase in TI's ownership, signals a strategy
to allocate resources towards international diversification while
enabling greater resilience against increasingly volatile
commodity markets.

                         KEY ASSUMPTIONS

   -- Annual increase in revenues in the mid-single digits,
      driven by recovering sugar prices (in FY17 and FY18 in
      Europe and, more slowly, towards FY20 globally) and growing
      volumes from all of the group's businesses

   -- Gradual EBITDA margin improvement towards 12% in FY20
     (FY16: 10%) driven by higher capacity utilization rates, a
      better product mix, improved cost competitiveness, and to a
      lesser extent, recovering international sugar prices

   -- Average annual capex of approximately EUR390 mil. between
      FY17 and FY18 as the group continues to invest in its cost
      base and in production capacity, before falling to
      EUR300 mil. in FY20

   -- Price complements (dividends) paid to cooperative members
      to remain at modest levels.

   -- Mildly negative annual FCF over FY16-FY18, before turning
      consistently positive from FY19.

   -- Minor M&A disbursements including outflow for the planned
      minority buy-out at TI in FY17

                       RATING SENSITIVITIES

Positive: Future developments that could lead to positive rating
actions include:

   -- Strengthening of profitability (excluding price
      fluctuations), as measured by RMI-adjusted EBITDAR/gross
      profit, reflecting reasonable capacity utilization rates in
      the sugarbeet business and overall increased efficiency

   -- At least neutral FCF while maintaining strict financial
      Discipline

   -- FFO gross leverage (RMI-adjusted) consistently below 3.5x
      at Tereos group level and 4.0x at TI level.

Negative: Future developments that could lead to negative rating
action include:

   -- Inability to sustainably maintain cost savings derived from
      efficiency programs or excessive idle capacity in
      different market segments, leading to RMI-adjusted
      EBITDAR/gross profit remaining weak

   -- Inability to return consolidated FFO to approximately
      USD0.5 bil. (FY16: USD0.3 bil.) and to improve
      profitability and cash flow generation

   -- Reduced financial flexibility as reflected in FFO fixed
      charge cover (RMI-adjusted) falling below 3.0x,

   -- FFO gross leverage (RMI-adjusted) above 4.5x at Tereos
      group level (5.0x at TI level) on a sustained level


=============
G E R M A N Y
=============


HELIOCENTRIS ENERGY: Court Approves Insolvency Application
----------------------------------------------------------
The local court Berlin-Charlottenburg approved insolvency
proceedings under Heliocentris Energy Solutions AG's own
administration, a process comparable to Chapter 11 in the USA,
and appointed Joachim Voigt-Salus as the trustee (Sachwalter) of
Heliocentris Energy Solutions AG and its German subsidiaries
Heliocentris Academia GmbH, Heliocentris Industry GmbH and
Heliocentris Fuel Cell Solutions GmbH.  For the legal entities
outside Germany no insolvency proceedings have been filed.  These
entities continue to operate their business in the regular course
of business.

The aim of this process is to sustainably restructure
Heliocentris and to find an investor solution, building on
Heliocentris' core products such as the decentral energy storage
solutions, fuel cell based emergency power systems and energy
management systems as well as the business potential developed
over the last years.  The recent discussions with investors were
burdened by the high amount of financial debt and liabilities
built over the last years.

Business operations continue seamlessly.  Deliveries and services
to existing customers as well as the acquisition of new customer
orders continue unimpaired.

Heliocentris Energy Solutions AG provides energy management
systems and hybrid power solutions for distributed stationary
industrial applications worldwide.


===========
G R E E C E
===========


GREECE: To Start Fresh Bailout Talks with Creditors This Week
-------------------------------------------------------------
Michele Kambas and Lefteris Papadimas at Reuters report that
Greece and its creditors start a fresh round of talks this week
on reforming its labor market, a tricky task for a leftist
government sliding in opinion polls but needed if the recession-
hit state can ever win debt relief.

Under a conservative-led government, Greece froze the mechanism
of collective bargaining in 2012, cut minimum wages and
liberalized rules covering mass layoffs, Reuters recounts.

Lenders, particularly the International Monetary Fund, want
further liberalization of redundancy rules and to retain the
current minimum wage system which is set by law and not
collective bargaining as the practice in other EU member states,
Reuters discloses.

A good basis for talks, a government official, as cited by
Reuters, said, was a recent report by a committee of experts
suggested minimum wages be endorsed by collective agreements.

That is a red flag for the IMF, Reuters notes.  It has yet to
decide if it will partake in Greece's latest bailout program,
concerned at Greece's debt levels exceeding 170 percent of
output, Reuters states.  It is however an unlikely ally in
Greece's call for debt relief, according to Reuters.

Mr. Tsipras has set the bar high, Reuters relays.

"I want to be clear. This vague urging for us to 'do our homework
and then we shall see' cannot be accepted," Mr. Tsipras, as cited
by Reuters, said to a steady applause from an audience of up to
3,000 party faithful at a congress of his Syriza party on
Oct. 13.

Although there is growing consensus among European creditors and
the IMF on the need for debt relief, its form and scope remains
unclear, Reuters states.

According to Reuters, Greece says it wants the review concluded
by the end of the year, eyeing its inclusion in the European
Central Bank's quantitative easing (QE), an asset buying program
it is now excluded from.  QE is now running to the end of
March 2017, though it could be extended, Reuters discloses.


=============
I R E L A N D
=============


CARLYLE GLOBAL 2016-2: S&P Assigns Prelim. B- Rating to E Notes
---------------------------------------------------------------
S&P Global Ratings has assigned its preliminary credit ratings to
Carlyle Global Market Strategies Euro CLO 2016-2 DAC's class A-1,
A-2, B, C, D, and E notes.  At closing, Carlyle 2016-2 will also
issue an unrated subordinated class of notes.

The preliminary ratings assigned to Carlyle 2016-2's notes
reflect S&P's assessment of:

   -- The diversified collateral pool, which consists primarily
      of broadly syndicated speculative-grade senior secured term
      loans and bonds that are governed by collateral quality
      tests.  The credit enhancement provided through the
      subordination of cash flows, excess spread, and
      overcollateralization.

   -- The collateral manager's experienced team, which can affect
      the performance of the rated notes through collateral
      selection, ongoing portfolio management, and trading.  The
      transaction's legal structure, which is expected to be
      bankruptcy remote.

S&P considers that the transaction's documented counterparty
replacement and remedy mechanisms adequately mitigate its
exposure to counterparty risk under its current counterparty
criteria.

Following the application of S&P's structured finance ratings
above the sovereign criteria, it considers the transaction's
exposure to country risk to be limited at the assigned
preliminary rating levels, as the exposure to individual
sovereigns does not exceed the diversification thresholds
outlined in S&P's criteria.

At closing, S&P considers that the transaction's legal structure
will be bankruptcy remote, in line with its European legal
criteria.

Following S&P's analysis of the credit, cash flow, counterparty,
operational, and legal risks, it believes its preliminary ratings
are commensurate with the available credit enhancement for each
class of notes.

Carlyle 2016-2 is a broadly syndicated collateralized loan
obligation (CLO) managed by CELF Advisors LLP.  CELF Advisors is
a wholly owned subsidiary of Carlyle Investment Management LLC, a
Delaware limited liability company, which is indirectly owned by
The Carlyle Group L.P.  This is CELF Advisors' second CLO in
2016, following Carlyle Global Market Strategies Euro CLO 2016-1
DAC, which closed in May 2016.

RATINGS LIST

Preliminary Ratings Assigned

Carlyle Global Market Strategies Euro CLO 2016-2 DAC
Floating- And Fixed-Rate Notes (Including Subordinated Notes)

Class              Prelim.        Prelim.
                   rating          amount
                                 (mil. EUR)
A-1                AAA (sf)        232.00
A-2                AA (sf)          59.00
B                  A (sf)           24.00
C                  BBB (sf)         19.00
D                  BB (sf)          25.00
E                  B- (sf)          11.50
Sub.               NR               44.50

NR--Not rated.
Sub.--Subordinated.


SCF RAHOITUSPALVELUT II: Moody's Rates Class E Notes (P)Ba2
-----------------------------------------------------------
Moody's Investors Service assigned provisional ratings to the
following asset-backed securities (ABS) notes to be issued by SCF
Rahoituspalvelut II Designated Activity Company:

   -- EUR543.4M Class A Floating Rate Notes due 2025, Assigned
      (P) Aaa (sf)

   -- EUR27.3M Class B Fixed Rate Notes due 2025, Assigned
      (P) Aa3 (sf)

   -- EUR9.1M Class C Fixed Rate Notes due 2025, Assigned
      (P) A3 (sf)

   -- EUR6.1M Class D Fixed Rate Notes due 2025, Assigned
      (P) Baa2 (sf)

   -- EUR10.3M Class E Fixed Rate Notes due 2025, Assigned
     (P) Ba2 (sf)

   -- Subordinated and unrated EUR 11.0M Class F Fixed Rate Notes
      due 2025 will also be issued.

RATINGS RATIONALE

The rating assignment reflects the transaction's structure as a
static cash securitization of auto loans extended to obligors in
Finland by Santander Consumer Finance Oy (not rated), which is a
wholly owned subsidiary of Santander Consumer Bank AS, which in
turn is a wholly owned subsidiary of Santander Consumer Finance
S.A. (A3/P-2/A3(cr)/P-2(cr)). This is the fifth Moody's rated
public securitization transaction sponsored by Santander Consumer
Finance Oy. The seller also acts as servicer of the portfolio. A
back-up servicer facilitator is appointed at close (Santander
Consumer Finance S.A.) and the structure envisions the selection
of a back-up servicer within 60 days should (i) Santander
Consumer Finance S.A. be downgraded below a Baa3 rating or (ii)
Santander Consumer Finance S.A. no longer holds at least 50% of
the share capital of the servicer.

The provisional portfolio of underlying assets consists of auto
loans distributed through dealers to private individuals and
self-employed individuals (together 82.5%) or commercial entities
(17.5%). These loans finance new cars (36.4%) and used cars
(63.6%). As of October 2016 the provisional portfolio consists of
39,481 loans with a weighted average seasoning of 6.6 months. The
portfolio consists of approximately 47.5% "balloon" loans, which
have equal instalments during the life of the loan and a larger
balloon payment at loan maturity. On average, the balloon
instalment portion accounts for 30.7% of the total principal of
balloon loans and 14.6% of the entire portfolio cash flows.

According to Moody's, the transaction benefits from various
credit strengths such as a granular portfolio and an amortizing
liquidity reserve of 1% of Class A and Class B outstanding notes
balance. However, Moody's notes that the transaction features
some credit weaknesses such as an unrated servicer and a higher
likelihood of deferred interest payments due on the Class E
Notes. Various mitigants have been included in the transaction
structure such as a back-up servicer facilitator which is obliged
to appoint a back-up servicer if certain triggers are breached.

Moody's analysis focused, amongst other factors, on (i)
historical portfolio performance information; (ii) the credit
enhancement provided by the subordination; (iii) the liquidity
support available in the transaction by way of the amortizing 1%
liquidity reserve and the possibility of using principal to pay
interest; (iv) the appointment of a back-up servicer facilitator
at closing; (v) the independent cash manager and calculation
agent; (vi) the notification of the borrowers near the closing
date of the sale of the receivables and direction to borrowers to
pay directly into the issuer account, and (vii) the legal and
structural integrity of the transaction.

MAIN MODEL ASSUMPTIONS:

Moody's determined the portfolio lifetime expected defaults of
2.75%, expected recoveries of 45% and Aaa portfolio credit
enhancement ("PCE") of 11.5% related to borrower receivables. The
expected defaults and recoveries capture our expectations of
performance considering the current economic outlook, while the
PCE captures the loss we expect the portfolio to suffer in the
event of a severe recession scenario. Expected defaults and PCE
are parameters used by Moody's to calibrate its lognormal
portfolio loss distribution curve and to associate a probability
with each potential future loss scenario in the ABSROM cash flow
model to rate Auto ABS. These main assumptions remain unchanged
compared to the previously rated SCF Rahoituspalvelut I
Designated Activity Company transaction on 29 October 2015.

Portfolio expected defaults of 2.75% are lower than the EMEA Auto
Loan ABS average and are based on Moody's assessment of the
lifetime expectation for the pool taking into account (i)
historic performance of the loan book of the originator, (ii)
benchmark transactions, and (iii) other qualitative
considerations, such as the high balloon loan component of the
portfolio.

Portfolio expected recoveries of 45% are in line with the EMEA
Auto Loan ABS average and are based on Moody's assessment of the
lifetime expectation for the pool taking into account (i)
historic performance of the loan book of the originator, (ii)
benchmark transactions, and (iii) other qualitative
considerations.

PCE of 11.5% is slightly higher than the EMEA Auto Loan ABS
average and is based on Moody's assessment of the pool which is
mainly driven by the high exposure to balloon loans despite
considering the strength of the originator and the relative
ranking to originator peers in the EMEA auto loan market. The PCE
level of 11.00% results in an implied coefficient of variation
("CoV") of 57.89%.

METHODOLOGY:

The principal methodology used in these ratings was Moody's
Global Approach to Rating Auto Loan-and-Lease Backed ABS,
published in October 2016.

The ratings address the expected loss posed to investors by the
legal final maturity. In Moody's opinion the structure allows for
the timely payment of interest on the Class A to Class B Notes
and the ultimate payment of interest and principal at par on the
Class A to Class E Notes on or before the rated final legal
maturity date. Moody's ratings address only the credit risks
associated with the transaction. Other non-credit risks have not
been addressed, but may have a significant effect on yield to
investors.

Moody's issues provisional ratings in advance of the final sale
of securities and the above rating reflects Moody's preliminary
credit opinion regarding the transaction only. Upon a conclusive
review of the final documentation and the final note structure,
Moody's will endeavor to assign a definitive rating to the Class
A to Class E Notes. A definitive rating may differ from a
provisional rating.

FACTORS THAT WOULD LEAD TO AN UPGRADE OR DOWNGRADE OF THE
RATINGS:

Factors that may cause an upgrade of the ratings include a
significant better than expected performance of the pool together
with an increase in credit enhancement of notes.

Factors that may cause a downgrade of the ratings include a
decline in the overall performance of the pool and change in
control of the servicer or insolvency of the servicer.

LOSS AND CASH FLOW ANALYSIS:

Moody's used its cash flow model ABSROM as part of its
quantitative analysis of the transaction. The ABSROM cash flow
model enables users to model various features of a standard
European ABS transaction - including the specifics of the loss
distribution of the assets, their portfolio amortization profile,
yield as well as the specific priority of payments, swaps and
reserve funds on the liability side of the ABS structure.

STRESS SCENARIOS:

In rating auto loan ABS, default rate and recoveries are two key
inputs that determine the loss distribution. Parameter
sensitivities for this transaction have been tested for each
rated class of notes in the following manner: Moody's tested nine
scenarios derived from a combination of mean default: 2.75% (base
case), 3.00% (base case + 0.25%), 3.25% (base case + 0.5%) and
recoveries: 45% (base case), 40% (base case - 5%), 35% (base case
- 10%).

The results for Class A notes under these scenarios vary from Aaa
(base case) model output to Aa1 (model output where the mean
default is 3.25% and recoveries are 35%). Parameter sensitivities
provide a quantitative/model indicated calculation of the number
of notches that a Moody's rated structured finance security may
vary if certain input parameters used in the initial rating
process differed. The analysis assumes that the deal has not
aged. It is not intended to measure how the rating of the
security might migrate over time, but rather how the initial
model output of the security might have differed if the two
parameters within a given sector that have the greatest impact
were varied. Results for all other rated classes of notes can be
found in Moody's pre-sale report.


SILENUS LIMITED: Moody's Raises Rating on Class D Notes to B1
-------------------------------------------------------------
Moody's Investors Service has affirmed the rating of one class of
Notes and upgraded the ratings of two classes of Notes issued by
Silenus (European Loan Conduit No. 25) Limited (ELoC 25).

Moody's rating action is as follows:

   -- EUR63M Class C Notes, Affirmed Baa1 (sf); previously on
      Mar 3, 2015 Upgraded to Baa1 (sf)

   -- EUR46M Class D Notes, Upgraded to B1 (sf); previously on
      Mar 3, 2015 Upgraded to B3 (sf)

   -- EUR0.05M Class X Notes, Upgraded to Ba3 (sf); previously on
      Mar 3, 2015 Confirmed at B1 (sf)

Moody's does not rate the Class E, Class F and Class G Notes.

RATINGS RATIONALE

The ratings of the Classes D and X Notes are upgraded to reflect
the recent positive developments on the pool with the repayment
of the Nextra loan and the deleveraging of remaining Virgilio
Senior Loan (previously known as Orazio). At the next interest
payment date ("IPD") in November 2016, proceeds from the sale of
the Milan property will be used to pay down the loan resulting in
the full redemption of the Class C notes and partial redemption
of the Class D notes.

The Virgilio Senior Loan has benefitted from the recent re-
gearing of the Rome and Penny leases. The recent re-gearing of
the Rome and Penny leases has been credit positive and is
reflected in the rating upgrade. It is likely that there would
have only been minimal demand for the Penny sub-portfolio of 41
secondary retail assets prior to the lease extension, which has
seen the lease break date move out to May 2023. Even now, there
is still some uncertainty surrounding the liquidation of
secondary retail portfolios in continental Europe. If the
portfolio could only be disposed of in a piecemeal fashion then
it is probable that full recoveries would occur after the final
legal maturity date of the notes in May 2019.

The Class X Notes reference the underlying loan pool. As such,
the key rating parameters that influence the expected loss on the
referenced loan pool also influence the ratings on the Class X
Notes. The rating of the Class X Notes is based on the
methodology described in the cross sector methodology "Moody's
Approach to Rating Structured Finance Interest-Only Securities"
published in October 2015.

Moody's base expected loss for the pool is in the range of 0%-10
% of the current balance. Moody's derives this loss expectation
from the analysis of the default probability of the securitized
loan (both during the term and at maturity) and its value
assessment of the collateral.

Realised losses have increased to 0.6% from 0.1% of the original
securitized balance since the last rating action.

Methodology Underlying the Rating Action:

The principal methodology used in these ratings was Moody's
Approach to Rating EMEA CMBS Transactions published in July 2015.

Factors that would lead to an upgrade or downgrade of the
ratings:

Main factors or circumstances that could lead to a downgrade of
the ratings are (i) a lack of progress or visibility on the work
out of the Virgilio Senior Loan; (ii) a significant decrease in
the value of the underlying properties backing this loan.

Main factors or circumstances that could lead to an upgrade of
the ratings are (i) faster than expected de-leveraging of the
Virgilio Senior Loan, and (ii) demonstrable investor demand for
the Penny sub-portfolio.

MOODY'S PORTFOLIO ANALYSIS

As of the August 2016 IPD, the transaction balance has declined
by 91% to EUR116.0 million (excludes the proceeds from the Milan
asset sale) from EUR 1,238.5 million at closing in 2007 due to
the pay off of 16 loans originally in the pool. The notes are
currently secured by one remaining loan which is secured by
first-ranking legal mortgages over 44 retail and office
properties located throughout Italy.

SUMMARY OF MOODY'S LOAN ASSUMPTIONS

Below are Moody's key assumptions for the Virgilio Senior Loan.

Virgilio Senior Loan - LTV: 83% (Whole)/ 83% (A-Loan); Defaulted;
Expected Loss 0%-10%.

The only remaining loan in the pool, Virgilio Senior Loan is
secured by a portfolio of office and retail properties in Italy.
The loan failed to repay at its maturity date in November 2012
and is currently in special servicing. The loan was restructured
in March 2016. The restructuring terms included the junior lender
converting subordinated debt into equity, an equity injection of
EUR4.2 million, additional capex funds, a specific property
disposal timeline for the remaining assets with penalties in
place if missed, and an extension of the loan term until November
2017. The portfolio contains three office properties of diverse
quality located in Milan, Rome (both single tenanted) and Naples.
The Milan property has been sold for a gross sales price of
EUR49.96 million significantly above its 2016 valuation of
EUR41.4 million. The remaining collateral is a portfolio of 41
secondary quality retail properties located in Northern Italy let
to Penny Market.



===================
L U X E M B O U R G
===================


DEA FINANCE: Fitch Rates EUR400MM 7.5% Notes 'BB'
-------------------------------------------------
Fitch Ratings has assigned DEA Finance SA's senior unsecured
EUR400 mil. 7.5% notes a final 'BB' rating.

The notes are guaranteed by DEA Deutsche Erdoel AG (DEA;
'BB'/Stable), its key subsidiaries accounting for 99% of 2015
EBITDAX and 100% of fixed assets at end-2015 and certain parent
companies of DEA.

While junior to DEA's USD2bn reserve-based lending facility (RBL)
we believe that the overall level of debt in the restricted group
is sufficiently low to generate at least average recoveries for
senior unsecured creditors, and therefore rate the proposed notes
in line with DEA's Issuer Default Rating.  The proceeds from the
offering are expected to be used to partially repay outstanding
RBL amounts.

DEA is a medium-sized oil and gas exploration and production
company based in Germany. The company's pro-forma hydrocarbon
output totalled 144 thousand barrels of oil equivalent per day
(mboepd) in 2015 (on a net entitlement basis and accounting for
acquisitions and disposals completed in 2015).  DEA's key oil and
gas fields are located in Germany, Norway and Egypt.  The share
of gas in total production is around 50%, which is expected to
increase to 80% when new assets in Norway and Egypt add to
production.

The ratings are supported by a diversified asset base in 'AAA'-
rated countries (mainly Germany and Norway), low cost of
production and a clearly stated financial policy with net debt-
to-EBITDAX capped at around 2.0x-2.5x.  DEA's credit profile is
constrained by mature assets in Europe, where production decline
is yet to be arrested, and size of production.  Fitch
deconsolidate oil and gas output from the West Nile Delta (WND)
reservoir in Egypt from DEA's financial profile because the
company plans to project-finance its stake.

DEA is a wholly owned subsidiary of L1E Acquisitions GmbH (owned
by LetterOne Holdings S.A.) following the acquisition of the
company from RWE AG (BBB/RWN) in March 2015.  LetterOne was
founded in 2013 by Mikhail Fridman, German Khan and several other
shareholders.

                        KEY RATING DRIVERS

Production to Decline; Recovery Expected

Fitch expects DEA's production to decrease to 107mboepd in 2016
(excluding the output from the WND project), from 144mboepd in
2015 (excluding production from the UK assets sold to INEOS
Offshore BCS Limited and including full year production from
assets in the North Sea acquired from E.ON SE (BBB+/Stable)), due
to lower output from Skarv and Njord fields in Norway and
disposal of assets.

Fitch forecasts total liftings to fall to 87 mboepd in 2019
because of declining production in Germany and Norway before
recovering to 106mboepd in 2021, following the development of the
Dvalin (formerly named Zidane) gas field and higher output from
the Skarv Area.  In addition, the company is developing the WND
project in Egypt, which will lead to its output increasing to
39mboepd in 2021 from 1mboepd in 2015.

In Line with 'BB' Peers
DEA's geographical and asset diversification compares well with
peers, such as Kosmos Energy Ltd (B/Stable), which usually have a
concentrated asset base located in more politically challenging
countries, and is more comparable to Newfield Exploration Company
(BB+/Stable) with 2015 output of 139mboepd.  This factor, coupled
with leverage and the size of production, is commensurate with
the mid-'BB' rating category.

'AAA' Countries Support Rating
Around 85% of total production in 2015 came from oil and gas
fields located in Germany, Norway and Denmark (GDN), mainly
Volkersen, Mittelplate, Skarv, Gjoa and Snorre.  This represented
almost the entire EBITDAX in 2015.  Fitch views assets located in
'AAA' rated countries as positive for DEA's credit profile.

At the same time, assets in the 'AAA' rated countries are mature
reservoirs with declining production.  The production volume from
GDN increased in 2015 on acquisition of assets in the Norwegian
North Sea from E.ON for USD1.6 bil., but Fitch expects volumes to
decrease 44% to 69mboepd by 2019, due to natural decline before
recovering substantially to 88mboepd in 2021 on the back of
higher production from the Dvalin and the Skarv Area.

Dvalin is a large gas field in Norway with 1P gas reserves of
432Bscf operated by DEA.  The company currently holds a 40% stake
in the project, which we understand may increase going forward
following discussions with partners.  The submission of plan for
operation and development took place in October 2016 after some
delay.  DEA plans to tie back the field to the Statoil-operated
infrastructure at Heidrun platform with a 15km production
flowline.

Production in the Skarv Area started in 2013 (Skarv and Idun
fields) and is expected by Fitch to naturally decline from the
peak in 2015 until 2020 when production is expected to improve
mainly from the development of the Snadd field.

Prospective Assets in North Africa

The company expects production in Egypt and Algeria to increase
to 46mboepd in 2019 from 22mboepd in 2015, including 25mboepd
from WND. DEA started commercial production from the Disouq
concession (100% working interest (WI)) in Egypt (B/Stable) in
2013.


In March 2015, BP plc (A/Stable) and DEA signed the final
agreements for WND (WI 17.25%), where the companies expect to
develop 5 trillion cubic feet of gas and 55mmboe of condensates.
Another significant prospect is the Reggane Nord gas field in
Algeria (19.5% WI).  Production in Reggane and WND is expected to
start in 2017.

Fitch views the company's track record in developing new
reservoirs as strong, which supports its ratings.  Additionally,
WND and Reggane are operated by experienced partners - BP plc and
Repsol (BBB/Negative), respectively - with the former project
currently one of the core development assets for BP.  The output
from these assets will help improve DEA's operational profile
before production decline in Germany and Norway is halted, which
is positive for the credit profile.

At the same time, a higher contribution from lower-rated and less
politically stable regions constrains the ratings.  Increasing
production in Egypt and Algeria will also require significant
capex.  DEA plans to project-finance its stake in WND, which will
reduce its share of spending by USD500 mil.-USD600 mil. from the
expected USD850 mil. to develop the field.  Fitch therefore
deconsolidates WND from Fitch's forecasts.

Project Finance for WND

The project finance loan is currently being negotiated.  Fitch's
base case assumption is that that ring-fencing of DEA from the
loans will be strong enough and WND funding and production will
be deconsolidated.  An alternative scenario would have a neutral
impact on DEA's credit profile.

Fitch's forecasts including WND show that leverage metrics are
still commensurate with the 'BB' rating, while higher oil and gas
production would offset the negative impact on DEA's business
profile of higher production from lower rated countries.  The
neutral impact of potential WND consolidation should also be
viewed in conjunction with our expectation of the majority of oil
and gas production coming from politically stable regions such as
Germany or Norway following the acquisition of assets in Norway
from E.ON.

Low Production Costs

Production costs totaled USD7/boe in 2015, down from USD13/boe in
2014, due to cost-cutting measures and the substitution of
higher-cost production in the UK with more profitable assets in
Norway acquired from E.ON.  Costs are expected to remain broadly
stable at USD5/boe over the rating horizon of next five years
when Egyptian production is counted in.  Low production costs
support DEA's credit profile.

1P reserves totaled 400 million boe (mmboe) in 2015 (including
WND), which translates into eight years of reserve life and
compares well with peers such as Kosmos Energy (nine years), Unit
Corporation (B+/Negative, seven years), Newfield Exploration
Company (10 years).  Excluding WND and Njord fields, 1P reserves
total 317mmboe and reserve life is six years at the 2015
production level.

EBITDA to Rise From Low

Fitch expects EBITDA to bottom out in 2016 at EUR641 mil., due to
lower production in Norway and Egypt versus 2015 and lower
hedging income (EUR120 mil. in 2015), followed by a gradual
price-driven increase, in line with Fitch's oil price deck of
USD42/bbl in 2016, USD45/bbl in 2017, USD55/bbl in 2018 and
USD65/bbl over the long term.  Fitch expects funds from
operations (FFO)-adjusted net leverage to peak at 3.3x in 2016,
on the back of a challenging macro environment and high capex in
Egypt and Algeria, before decreasing to 2.9x in 2019.

The financing structure comprises a USD2.3 bil. (USD2,050 mil.
drawn) senior secured reserve-based lending (RBL) facility with a
comfortable maturity profile.  Shareholder loans (EUR.1.1 bil. at
end-2015) were excluded from the debt amount, as they have
equity-like characteristics.

DEA plans to maintain net debt-to-EBITDAX at around 2.0x, with a
temporary increase up to 2.5x in case of inorganic growth.  The
company is also obliged to keep net debt-to-EBITDAX below 3.0x
under its RBL facility.  Fitch's forecasts show net debt-to-
EBITDAX will remain below 2.5x until 2019.

New Acquisitions Likely

DEA plans to remodel its portfolio and to further grow through
acquisitions.  Headroom for debt-financed inorganic growth is
currently limited.  Fitch therefore assumes that a potential
transaction would be largely financed with shareholder funds if
the expected contribution to EBITDA from acquired assets would
not allow the maintenance of the target net debt-to- EBTDAX
ratio.

Parent Neutral for Rating

DEA was acquired by LetterOne Holdings S.A. in March 2015.  The
latter entity is owned by an investment holding of Mikhail
Fridman and German Khan and several other shareholders.  DEA is
domiciled in Germany.  LetterOne received all required consents
from European authorities to acquire DEA, but the UK authorities
obliged LetterOne to dispose of DEA's UK assets, which took place
in 2015.  Fitch do not view corporate governance as a rating
constraint.

DEA is ring-fenced and Fitch views it's the ownership by
LetterOne as rating-neutral as is also the case for DEA's private
equity-owned peers.  LetterOne has ample resources after
monetizing its stake in TNK-BP and also provided shareholder
funding to DEA. Although future support is likely, especially for
DEA's inorganic growth, we do not include any rating uplift.

German Investment Guarantees Positive

Most of DEA's investments in North Africa are covered by
investment guarantees of Germany.  The guarantee covers risk
related to expropriation, nationalization of assets, war or other
armed conflicts and cash transfer restrictions.  The ability to
recover lost investment in case of major problems with operations
in Africa is positive for the company's credit profile.

                        KEY ASSUMPTIONS

   -- Oil prices of USD42/bbl in 2016, USD45/bbl in 2017,
      USD55/bbl in 2018 and USD65/bbl in the long term

   -- Gas prices (NBP) of USD5/mcf in 2016, USD5.5/mcf in 2017,
      USD6/mcf in 2018 and USD6.5/mcf in the long term

   -- EURUSD exchange rate 1.1

   -- Oil and gas output around 5% below management's assumptions

   -- Non-core cash inflows plus divestments of USD274 mil. in
      2016, USD155 mil. in 2017 and USD60 mil. in 2018

   -- No dividend pay-outs except for partial payback of loan
      from shareholders in 2016

   -- Capex in line with management forecasts

                       RATING SENSITIVITIES

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

   -- Increase in oil and gas output to above 150mboepd
     (excluding WND)
   -- Majority of oil and gas production in politically stable
      regions
   -- FFO adjusted net leverage below 3.0x on a sustained basis
   -- Longer track record of operations in the current
      group/financial structure

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

   -- Large debt-financed acquisition
   -- FFO net leverage consistently above 4.0x
   -- Reserve life falling below five years

                             LIQUIDITY

DEA's liquidity is adequate.  The group's policy is to ensure a
fully funded status for 12 months.  DEA does not have any
immediate debt maturities.  The first maturity is in 2019, when
the RBL amortization schedule begins.  As at June 30, 2016, the
group had USD250 mil. under the RBL, a USD50 mil. working capital
facility from Unicredit and USD141 mil. cash at hand (Fitch
assumes USD75 mil. is the minimum cash needs of the company in
line with Fitch's rating methodology and this balance is excluded
from DEA's reported cash balance).  The bond proceeds should
strengthen DEA's liquidity position.


=====================
N E T H E R L A N D S
=====================


DCDML 2016-1: Moody's Assigns B2 Rating to Class E Notes
--------------------------------------------------------
Moody's Investors Service ay assigned provisional credit ratings
to the following classes of notes issued by DCDML 2016-1 B.V.:

   -- EUR [250.2]M Class A Notes 2016 due [2049], Assigned
      (P) Aaa (sf)

   -- EUR [6.9]M Class B Notes 2016 due [2049], Assigned
      (P) Aa2 (sf)

   -- EUR [6.7]M Class C Notes 2016 due [2049], Assigned
      (P) A1 (sf)

   -- EUR [3.7]M Class D Notes 2016 due [2049], Assigned
      (P) Baa2 (sf)

   -- EUR [4.4]M Class E Notes 2016 due [2049], Assigned
      (P) B2 (sf)

Moody's has not assigned any ratings to the class F notes or
class RS notes. The class A to F are mortgage backed notes. The
proceeds of the class RS notes are partially used to fund the
reserve account.

The transaction represents the securitization of Dutch prime
mortgage loans backed by residential properties located in the
Netherlands and originated by Dynamic Credit Woninghypotheken
B.V. (Dynamic Credit, not rated). The portfolio will be serviced
by Quion Services B.V. (Quion, not rated) and Intertrust
Management B.V. acts in the role of issuer administrator.

RATINGS RATIONALE

The ratings of the notes take into account the credit quality of
the underlying mortgage loan pool and the legal and structural
features of this transaction, from which Moody's determined the
MILAN Credit Enhancement (CE) and the portfolio expected loss.
The expected portfolio loss of 1.5% of current balance of the
portfolio at closing and the MILAN CE of 11.0% served as input
parameters for Moody's cash flow model.

The key drivers for the MILAN CE number, which is higher than the
Dutch Prime RMBS sector average, are (i) the limited historical
performance data for the originator's portfolio; (ii) the
weighted average current loan-to-market-value (LTMV) of [98.4]%,
and (iii) the weighted average seasoning of [0.4] years with the
maximum vintage concentration of [55.2]% in 2015.

The key drivers for the portfolio expected loss, which is higher
than the Dutch Prime RMBS sector average, are (i) the limited
historical performance data for the originator's portfolio; (ii)
benchmarking with comparable transactions in the Dutch RMBS
market, and (iii) the current economic conditions in the
Netherlands.

Interest rate risk analysis: BNP Paribas (A1/P-1/Aa3(cr)) is
expected to act as the swap counterparty for the fixed-rate
mortgages in the transaction. The floating-rate loans will be
unhedged. Moody's has taken into consideration the interest rate
swap in its cash flow modelling.

At closing, the transaction has the benefit of liquidity through
a reserve account fully funded at [1.1]% of the rated note
balance which consists of five sub-ledgers for each of the class
A-E notes. Only the class A ledger will amortize subject to a
floor of 50% of the initial amount. Amortization will occur
subject to certain strict conditions when the outstanding balance
of class A notes is less than 50% of the amount at closing. After
the respective classes of notes have amortized the corresponding
reserve sub-ledgers will be equal to zero and will be released to
the principal waterfall. On legal final maturity of the notes any
remaining amounts will be released to the principal waterfall. In
addition, principal to pay interest is available to pay the
interest rate on the class A notes or for class B to E notes in
case they become the most senior notes outstanding.

Moody's Parameter Sensitivities: At the time the rating was
assigned, the model output indicated that class A would have
achieved Aaa rating if the expected loss was as high as 4.5%
assuming MILAN CE of 11.0% and all other factors remained the
same.

Moody's Parameter Sensitivities provide a quantitative/model-
indicated calculation of the number of rating notches that a
Moody's structured finance security may vary if certain input
parameters used in the initial rating process differed. The
analysis assumes that the deal has not aged and is not intended
to measure how the rating of the security might migrate over
time, but rather how the initial rating of the security might
have differed if key rating input parameters were varied.
Parameter Sensitivities for the typical EMEA RMBS transaction are
calculated by stressing key variable inputs in Moody's primary
rating model.

The servicer Quion is not rated by Moody's, which introduces
operational risk into the transaction. Operational risk is
mitigated by the appointment of a back-up servicer facilitator
(BNP Paribas Securities Services, Luxembourg Branch (part of BNP
Paribas, rated A1/P-1/ Aa3(cr)) who will assist the Issuer in
appointing a back-up servicer on best effort basis upon
termination of servicing agreement. The documentation also
contains estimation language if the servicer report is not
available due to the servicer disruption. In addition, Intertrust
Management B.V. (Intertrust, not rated) acts in the role of cash
manager.

The principal methodology used in these ratings was "Moody's
Approach to Rating RMBS Using the MILAN Framework" published in
September 2016.

The analysis undertaken by Moody's at the initial assignment of
ratings for RMBS securities may focus on aspects that become less
relevant or typically remain unchanged during the surveillance
stage. Please see Moody's Approach to Rating RMBS Using the MILAN
Framework for further information on Moody's analysis at the
initial rating assignment and the on-going surveillance in RMBS.

The provisional ratings address the expected loss posed to
investors by the legal final maturity of the Notes. Moody's
issues provisional ratings in advance of the final sale of
securities, but these ratings represent only Moody's preliminary
credit opinions. Upon a conclusive review of the transaction and
associated documentation, Moody's will endeavor to assign
definitive ratings to the Notes. A definitive rating may differ
from a provisional rating. Other non-credit risks have not been
addressed, but may have a significant effect on yield to
investors.

Factors that would lead to an upgrade or downgrade of the
ratings:

Significantly different loss assumptions compared with our
expectations at close due to either a change in economic
conditions from our central scenario forecast or idiosyncratic
performance factors would lead to rating actions. For instance,
should economic conditions be worse than forecast, the higher
defaults and loss severities resulting from a greater
unemployment, worsening household affordability and a weaker
housing market would result in downgrade of the ratings. In
addition, a deterioration in the notes available credit
enhancement or counterparty risk due a weakening of the credit
profile of a transaction counterparty could result in a downgrade
of the ratings. Deleveraging of the capital structure or better-
than-expected performance of the underlying assets could result
in upgrade of the ratings.


LEOPARD CLO II: S&P Cuts Rating on D Notes to 'D' Then Withdraws
----------------------------------------------------------------
S&P Global Ratings lowered to 'D (sf)' from 'CC (sf)' and
subsequently withdrew its credit rating on Leopard CLO II B.V.'s
class D notes following the nonpayment of principal in full.  The
rating will remain at 'D (sf)' for 30 days before the withdrawal
becomes effective.  At the same time, S&P has affirmed its
'CCC- (sf)' rating on the class C notes and subsequently
withdrawn its rating on this class of notes.

Leopard CLO II's legal final maturity date is April 7, 2019.
Following the Aug. 2, 2016 notice to the noteholders, the
portfolio manager advised the noteholders on its expectation of
the repayment or sale of the remaining collateral in the
portfolio before the Oct. 7, 2016 payment date.  The proceeds
were applied to the final redemption of the outstanding notes.

On the October payment date, the class C notes were paid in full.
Following this, S&P has affirmed its 'CCC- (sf)' rating on the
class C notes and subsequently withdrawn its rating on this class
of notes.

The class D notes were not be paid in full.  S&P has therefore
lowered to 'D (sf)' from 'CC (sf)' its rating on the class D
notes.  The rating will remain at 'D (sf)' for 30 days before
S&P's withdrawal of its rating on this class of notes becomes
effective.

Leopard CLO II is a cash flow CLO transaction.  The legal final
maturity date of the notes is April 7, 2019.

RATINGS LIST

Leopard CLO II B.V.
EUR400 mil floating-rate notes
                                 Rating
Class            Identifier      To                   From
C                52668UAD9       CCC- (sf)            CCC- (sf)
D                52668UAE7       D (sf)               CC (sf)

Ratings Subsequently Withdrawn

Leopard CLO II B.V.
EUR400 mil floating-rate notes
                                 Rating
Class            Identifier      To                   From
C                52668UAD9       NR                   CCC- (sf)

NR--Not rated


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


ALROSA PJSC: Fitch Raises IDR to 'BB+', Outlook Stable
------------------------------------------------------
Fitch Ratings has upgraded Russian diamond producer PJSC ALROSA's
Long-Term Issuer Default Rating and ALROSA Finance SA's senior
unsecured rating to 'BB+' from 'BB'.  ALROSA's Short-Term IDR has
been affirmed at 'B'.  The Outlook on the Long-Term IDR is
Stable.

The upgrade reflects Fitch's expectations that ALROSA will
maintain funds from operations (FFO) gross adjusted leverage at a
conservative level at or below 2.0x (2015: 2.0x) on a sustained
basis, as already seen at end-2015 and 1H16, which was Fitch's
previous positive rating guidance.  This is a result of ALROSA's
outperformance of our conservative expectations over the past few
years, driven by a weaker rouble and higher than expected diamond
pricing, which allowed ALROSA's leverage to rebase at 1.0x-1.3x
for the rating horizon from above 2.0x before 2015.  The ratings
also reflect ALROSA's strong operating profile as the largest
diamond producer (30% global diamond production share in 2015),
and its cost leadership.

The Stable Outlook reflects the improved, albeit still fragile
outlook for the diamond market.  It also reflects ALROSA's good
liquidity position as at end-1H16 with less than 15% of total
debt due in 2H16 and 2017 against a RUB60bn cash cushion and
positive free cash flow (FCF).

                          KEY RATING DRIVERS

Outperformance in 2016
ALROSA outperformed our expectations in 2015 and 1H16.  The
outperformance in 1H16 was driven by an improved market
environment and supported by a de-stocking phase in 2015
following a build-up in inventories in 2014.  This followed weak
diamond jewellery demand expectations in 2014 and 2015, due to
the slowdown in China.  There has been a y-o-y recovery in
volumes in 1H16, which had a positive impact on ALROSA's
performance. Reported rouble-denominated EBITDA was up by 58%
y-o-y and net debt down by 25% in 1H16 to RUB153 bil. from RUB202
bil. at end 2015.

Fitch expects that performance in 2H16 will not be as strong as
1H16.  However, Fitch expects revenue and EBITDA to peak in 2016
at RUB333 bil. and RUB177 bil., respectively.  After that, Fitch
projects EBITDA to fall to around RUB125bn in 2018, on the
assumption of stable prices and demand and a gradual
strengthening of the rouble against the USD.  Therefore, although
Fitch expects falling EBITDA, moderate capex and dividends would
still allow ALROSA to generate positive FCF and keep leverage
within 1.0x-1.3x, well below Fitch's previous 2.0x positive
rating guidance.

Price Over Volume Strategy

ALROSA and DeBeers (which together represented around 53% of
global diamond production in 2015) built up inventories in 2015,
despite DeBeers cutting its production guidance by three million
carats during 2015.  ALROSA has lowered its production guidance
by two million carats this year.  Fitch believes that the
companies will continue to follow a price over volume strategy,
as they have done historically.

Fitch expects that producers will gradually release their high
inventory levels, aiming to balance the rough diamond supply with
demand, which is expected to be between 0%-2% annually, until
2019.  However, Fitch notes oversupply risk stemming from
potential new capacities (eg DeBeers' Gahcho Kue and Misery pipe)
might increase supply by around 4% per year for the next two
years.  If they come into production it will create significant
medium-term price pressure.  Consequently, Fitch believes that a
price increase is highly unlikely in the short to medium term.
Prices could come under further pressure if realised oversupply
risk does not match the demand dynamics.

Higher Dividends

ALROSA's dividend policy states a payout ratio of at least 35% of
IFRS net income.  This year the company paid out 50% of IFRS net
income.  Fitch expects a moderate capital spending program during
the forecast period along with resilient cash flow generation,
which is supported by the rouble.  This should allow ALROSA to
continue pay increased dividends at 50% of IFRS net income, which
would lead to a cash dividend payment of above RUB50bn in 2017
and 2018.

Gas Asset Disposal Uncertain

ALROSA continues to streamline its business as it focuses on its
core business of diamond mining.  The main non-core asset that
ALROSA holds is its gas assets, which it has been planning to
divest.  The timing and cash-flow impact of ALROSA's plans to
divest its non-core assets to Russian oil major Rosneft are
uncertain.  Fitch therefore do not incorporate the sale into its
forecasts.  If realized, this will likely have a neutral to
positive effect on ratings subject to the transaction's terms and
conditions.

Diamond Industry Risks

The diamond industry can be characterized by significant volume
risk.  For instance, the 2008-2009 financial crisis led to a 45%
decline in ALROSA's sales in 2009 (excluding state-financed
sales).  ALROSA's response was a 55% capex reduction and minimal
dividends for 2009-2010, which led to leverage recovering to
below the 2007 level by 2010.  ALROSA's exposure to diamond
market shocks is mitigated by its medium-term ability to reduce
capex (expansion capex is around 30%-40% of total, and
maintenance capex can be partly delayed for one to two years) and
dividends to a significant extent.  This provides stability to
ALROSA's long-term financial profile.

Synthetic diamonds pose a potential risk to the industry but we
view this risk as longer term.  Fitch do not believe that it will
have any material impact on ALROSA in the medium term.

One-Notch Uplift for State Support

Fitch continues to regularly assess the level of the Russian
state support to ALROSA.  The Russian Federation (BBB-/Negative)
and the Republic of Sakha (BBB-/Negative) hold 33% and 25% of
ALROSA's voting shares, respectively, and control its board of
directors and top management.  Moderate strategic but weak legal
ties with the parents are reflected in a single-notch uplift from
ALROSA's standalone rating (including corporate governance
discount) of 'BB'.  The company benefited from state support
during 2008-2009 when the Russian State Depository for Precious
Metals and Stones purchased around 40% of 2009 diamond sales, and
state-owned Bank VTB refinanced ALROSA's short-term debt.

Two-Notch Discount for Corporate Governance

Fitch applies a standard two-notch discount due to ALROSA's
higher than average systemic risks stemming from its operations
concentrated in Russia.  ALROSA's standalone profile is 'BBB-',
excluding the two-notch corporate governance discount and one-
notch state support.  The rating is underpinned by the company's
leading position in the rough diamond market globally, strong
reserves base, robust cost position, recent deleveraging and
adequate liquidity.  The standalone rating remains constrained by
ALROSA's limited product diversification and its exposure to a
cyclical single end-market (retail jewellery).

                          KEY ASSUMPTIONS

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

   -- Flat prices for the next three years.
   -- Average RUB/USD exchange rate of 69 in 2016 trending
      towards 57 by 2019
   -- Diamond sales of around 37 million carats per year in
      2016-2018
   -- EBITDA margin to exceed 50% in 2016 and drift towards 40%
      by 2018-2019
   -- No M&A deals, 8%-12% capex/sales and 50% dividend payout
      ratio to result in positive FCF

                        RATING SENSITIVITIES

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

   -- Fitch do not anticipate positive rating action in the
      foreseeable future, but this would be a possibility with a
      stable diamond market outlook and positive FCF, translating
      into FFO adjusted gross leverage sustainably below 1x,
      underpinned by a more conservative financial policy.

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

   -- FFO adjusted gross leverage above 2.0x on a sustained basis
   -- Prolonged market deterioration leading to EBITDA margin
      below 35% on a sustained basis
   -- Reduced support from the Russian Federation

                           LIQUIDITY

In June 2016 ALROSA refinanced its USD720 mil. bank loan with JSC
Alfa-Bank, which postponed its maturity to 2019 from 2017.  At
end-1H16 ALROSA had no debt due in 2H16 and RUB24 bil. (14%) due
in 2017, which is well covered by RUB60bn cash cushion (adjusted
for not readily available cash of RUB8bn) and positive FCF.
Fitch expects liquidity to continue to be strong as ALROSA
continues to use it large cash balance and positive FCF to pay
down debt.


REPUBLICAN INVESTMENT: S&P Affirms Then Withdraws 'B' ICR Rating
----------------------------------------------------------------
S&P Global Ratings affirmed its 'B' long-term issuer credit
rating and 'ruA-' Russia national scale rating on Russia-based
Republican Investment Company (RIC) JSC.  S&P subsequently
withdrew the ratings at the issuer's request.  At the time of
withdrawal, the outlook was stable.

Prior to the withdrawal, the ratings on RIC reflected S&P's view
of a high likelihood that the Russian region, Republic of Sakha,
which fully owns RIC, would provide timely and sufficient
extraordinary support to RIC in the event of financial distress.
The 'B' long-term rating was therefore two notches above RIC's
stand-alone credit profile (SACP), which S&P assessed at 'ccc+',
owing to the evolving nature of the company's medium-term
business strategy and RIC's lack of successful track record of
commercial investment activities.

In accordance with S&P's criteria for government-related entities
(GREs), its view of a high likelihood of extraordinary government
support was based on S&P's assessment of RIC's:

   -- Important role in implementing Sakha's investment program.
      RIC's key strategy includes completion of a railroad and
      other regional transport and social infrastructure
      construction under its initial mandate, securing state and
      off-budget financing for new infrastructure and business
      projects in Sakha, and managing assets that Sakha will
      transfer to it.  However, in S&P's opinion, RIC doesn't
      provide essential public services, and credit stress or
      interruption of its operations wouldn't have a systemic
      impact on the regional economy; and

   -- Very strong link with Sakha's government, which owns 100%
      of RIC and doesn't plan to privatize it at least in the
      medium term.  Sakha outlines RIC's development strategy,
      approves investment projects, and closely monitors its
      operations.  Sakha also appoints RIC's board of directors,
      which consists of Sakha's incumbent and former government
      officials.  Nevertheless, Sakha doesn't currently provide
      an explicit guarantee for the timely repayment of RIC's
      debt.

S&P's SACP assessment reflected RIC's short history of
operations, high implementation risks related to its evolving
development strategy, and the lack of successful track record of
its commercial investment activities.  RIC's current longer term
strategy envisions a transformation into an umbrella development
institution encompassing Sakha's existing financial GREs that
would focus on investment management and infrastructure
development in the region.  However, these plans are still
evolving and the transformation may take a number of years.  S&P
understands, over the next two to three years, RIC will primarily
continue implementing Sakha's ongoing investment program and
focusing on socially important projects in the republic.

RIC was set up by Sakha in 2006 as a special-purpose company to
sell Sakha's coal-mining assets and finance the construction of a
railroad and other infrastructure with the proceeds.  RIC's
mandate assumes that the company will complete the railroad, as
well as a number of other industrial and social infrastructure
projects (which were 99% complete as of mid-year 2016), and then
transfer the assets to Sakha and the federal government at cost
with zero profit by 2017.


* S&P Revises Outlooks on 11 Russia-Related Finc'l Institutions
---------------------------------------------------------------
S&P Global Ratings said that it had revised its outlooks on 11
Russia-related financial institutions to stable from negative
following its similar action on the sovereign.  The counterparty
credit ratings on the financial institutions were also affirmed.

                             RATIONALE

Government-Related Entities

S&P revised its outlooks and affirmed the ratings on these
government-related entities (GREs) and members of GRE groups.
The revision reflects the somewhat stabilizing economic
environment in Russia and the government's capacity to provide
timely and sufficient extraordinary support to these GREs.

   -- VTB Bank JSC (BB+/Stable/B)

The outlook on VTB Bank JSC reflects that on Russia.

S&P equalizes the ratings and outlooks on these core VTB group
members with those on VTB Bank JSC:

   -- VTB-Leasing (BB+/Stable/B)

   -- VTB-Leasing Finance (BB+/Stable/B)

   -- VTB Capital PLC (BB+/Stable/B)

   -- VTB Insurance Ltd. (BB+/Stable/--)

These banks have high strategic importance to the VTB group, and
it rates these group members one notch below VTB Bank JSC.

   -- VTB Bank (Kazakhstan) (BB/Stable/B)

   -- VTB Bank (Deutschland) AG (BB/Stable/B)


          MEMBERS OF LARGE FOREIGN GROUPS OPERATING IN RUSSIA

S&P revised its outlooks and affirmed its ratings on these
members of large foreign groups that operate in Russia because of
S&P's view of somewhat reducing pressure from the sovereign
rating and reflecting the application of its criteria, given that
all of them are exposed predominantly to the Russian market.  S&P
continues to caps the long- and short-term ratings on these
entities at this level of S&P's foreign currency sovereign
ratings on Russia (BB+/Stable/B):

   -- BNP PARIBAS BANK JSC (BB+/Stable/B)

   -- AO UniCredit Bank (BB+/Stable/B)

   -- Bank ICBC JSC (BB+/Stable/B)

   -- Credit Suisse Securities (Moscow) Ltd. (BB+/Stable/B)

                            OUTLOOKS

The outlooks on all these entities are now stable.

                AO UNICREDIT BANK (UniCredit Russia)

The stable outlook on UniCredit Russia mirrors that on the
Russian Federation and reflects S&P's view that the bank will be
able to maintain its creditworthiness over the next 12 months.

S&P would consider revising its assessment of the bank's stand-
alone credit profile (SACP) downward if S&P observed weaker-than-
expected loan loss performance or a significant deterioration of
its capital metrics.  However, a weaker SACP would not trigger a
downgrade, all other factors being equal, since S&P would
incorporate a notch of uplift to reflect the likelihood of
extraordinary support from the parent, UniCredit SpA.

S&P considers the possibility of a positive rating action to be
remote in the current environment, since it would require an
upgrade of the sovereign as well as improvement of the bank's or
the group's financial profile.

                  BNP PARIBAS BANK JSC (BNPP JSC)

The stable outlook on BNPP JSC mirrors that on the Russian
Federation, since the bank operates solely in the Russian market
and remains highly exposed to macroeconomic risks in Russia.  The
outlook also reflects S&P's view that BNPP JSC should be able to
maintain its financial standing over the next 12-18 months,
despite the challenging macroeconomic environment.

S&P could lower the ratings on the bank if it lowered the foreign
currency ratings on Russia.  Moreover, although this is not S&P's
base-case scenario for the next 12-18 months, it could downgrade
BNPP JSC if we perceived that the BNPP group's commitment to its
subsidiary had weakened, which would affect S&P's assessment of
the bank's status within the group.

Although S&P considers the possibility of a positive rating
action to be remote in the current environment, it could raise
the ratings on BNPP JSC if S&P raised the ratings on Russia.

            CREDIT SUISSE SECURITIES (MOSCOW) LTD. (CSSM)

The stable outlook on CSSM mirrors the stable outlook on Russia.
If S&P was to change its sovereign ratings or revise its transfer
and convertibility assessment on Russia in the next 12-18 months,
S&P would likely make the same change to the ratings on CSSM.
This is because CSSM operates exclusively in the Russian market
and is therefore exposed to Russian market risks.

S&P could lower its ratings on CSSM if we observed a diminished
commitment from its parent, Credit Suisse AG, to provide further
capital or funding support.  A negative rating action may also
follow if the Credit Suisse Group reconsiders its strategy for
the Russian market, which could lead S&P to revise its assessment
of CSSM's group status vis a vis Credit Suisse AG.

S&P could consider a positive rating action if it took a similar
action on the sovereign, assuming Credit Suisse AG continued to
view Russia as an important region for business expansion and
continued providing capital and other support to its Russian
subsidiary.

                           BANK ICBC JSC

S&P's stable outlook on Bank ICBC mirrors that on Russia and
reflects S&P's view that the bank should be able to maintain its
financial standing, despite the difficult operating environment
in Russia.

"If we lowered our long-term rating on Russia, we would downgrade
Bank ICBC.  We could also lower the ratings on Bank ICBC if we
considered that its parent bank ICBC Ltd. was displaying
diminished commitment to its Russian subsidiary.  If the parent
bank reconsidered its strategy for Bank ICBC, so that the
subsidiary could not rely on further capital and funding support
from its parent bank, we would likely revise our assessment of
Bank ICBC's group status, which could affect our ratings on the
Russian subsidiary," S&P said.

Although S&P considers the possibility of a positive rating
action to be remote in the current environment, it could raise
the ratings on Bank ICBC if S&P raised the ratings on Russia.

                           VTB BANK JSC

The stable outlook on VTB Bank JSC mirrors that on Russia.  The
outlook reflects S&P's view that VTB Bank JSC will be able to
maintain its creditworthiness over the next 12-18 months.  The
outlook also reflects S&P's opinion that the Russian government
will maintain its majority ownership and control over the bank at
least over the next few years.  In this scenario, S&P expects to
maintain its opinion of VTB Bank JSC's very important role for
and very strong link with the Russian government, which leads S&P
to expect a very high likelihood of support from the government
if necessary.

If S&P lowered its long-term local currency sovereign rating on
Russia, it would be an indication of Russia's reduced financial
capacity to support state-owned banks, and S&P would consequently
downgrade VTB Bank JSC.  S&P thinks that increased market
volatility and weak growth prospects will put increasing pressure
on the bank's financial performance.  A significant deterioration
in the bank's operating environment or a downward revision of
S&P's assessment of VTB Bank JSC's SACP, notably due to a
weakening of capitalization, liquidity, or funding, could also
lead to a negative rating action.

S&P could raise the ratings if VTB Bank JSC's SACP sustainably
improved, and S&P upgraded Russia, assuming no change in VTB Bank
JSC's very important role for and very strong link with the
Russian government.  Although S&P considers this scenario to be
remote, an improvement in the bank's creditworthiness could be
owing to an improvement in capitalization.  This could happen,
for example, if VTB Bank JSC's forecast risk-adjusted capital
ratio were sustainably to exceed 5%.

The rating actions on subsidiaries of VTB Bank JSC will mirror
those on VTB Bank JSC.  S&P may also take negative rating action
on any of these entities--VTB Insurance, VTB-Leasing, VTB-Leasing
Finance, VTB Deutschland, VTB Capital PLC, and VTB Bank
(Kazakhstan)--if we believe their importance to the group has
reduced.

RATINGS LIST

Outlook Action; Ratings Affirmed

                                    To               From
VTB Bank JSC
VTB-Leasing
VTB-Leasing Finance
VTB Capital PLC
Counterparty Credit Rating         BB+/Stable/B     BB+/Neg./B

VTB Insurance Ltd.
Counterparty Credit Rating
  Local Currency                    BB+/Stable/--    BB+/Neg./--
Financial Strength Rating
  Local Currency                    BB+/Stable/--    BB+/Neg./--

VTB Bank (Kazakhstan)
VTB Bank (Deutschland) AG
Counterparty Credit Rating         BB/Stable/B       BB/Neg./B

                       BNP PARIBAS BANK JSC

Counterparty Credit Rating         BB+/Stable/B       BB+/Neg./B

AO UniCredit Bank
Counterparty Credit Rating         BB+/Stable/B       BB+/Neg./B

Bank ICBC JSC
Counterparty Credit Rating         BB+/Stable/B       BB+/Neg./B

Credit Suisse Securities (Moscow) Ltd.
Counterparty Credit Rating         BB+/Stable/B       BB+/Neg./B


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


BANCO DE CREDITO: Fitch Assigns 'B+(EXP)' Rating to Sub. Notes
--------------------------------------------------------------
Fitch Ratings has assigned Banco de Credito Social Cooperativo
S.A.'s (BCC) upcoming subordinated notes an expected rating of
'B+(EXP)'.

The assignment of the final rating is contingent on the receipt
of final documents conforming to the information already
received.

BCC is part of Grupo Cooperativo Cajamar (GCC), which also
comprises 19 credit cooperatives, and is subject to a mutual
support mechanism under which members mutualise 100% of profits
and have a cross-support mechanism for solvency and liquidity.
On this basis, Fitch assigns the same Issuer Default Ratings
(IDRs) to the group members and uses GCC's VR as the starting
point for BCC's subordinated debt rating.

                        KEY RATING DRIVERS

SUBORDINATED DEBT

The subordinated notes are notched down one notch from GCC's
Viability Rating (VR) of 'bb-' for loss severity because of lower
recovery expectations relative to senior unsecured debt.  These
securities are subordinated to all senior unsecured creditors.

                       RATING SENSITIVITIES

SUBORDINATED DEBT

The subordinated notes' expected rating is sensitive to changes
in GCC's VR, which drives BCC's Long-Term IDR.  The rating is
also sensitive to a widening of notching if Fitch's view of the
probability of non-performance on the bank's subordinated debt
relative to the probability of the group failing, as measured by
its VR, increases or if Fitch's view of likely recovery changes.
The rating is also sensitive to any changes in the mutual support
mechanism within the group that would result in us concluding
that risk of BCC's non-performance is no longer best reflected by
GCC's VR.


INSTITUTO VALENCIANO: S&P Affirms 'BB/B' ICRs, Outlook Stable
-------------------------------------------------------------
S&P Global Ratings said that it affirmed its 'BB/B' long- and
short-term issuer credit ratings on financial agency Instituto
Valenciano de Finanzas (IVF), based in Spain's Autonomous
Community of Valencia (AC Valencia).  The outlook is stable.

IVF is AC Valencia's financial agency in charge of managing the
debt of the region and its public sector entities.  It also
implements ACV's public credit policy.

S&P considers IVF to be a government-related entity (GRE).  S&P
equalizes its ratings on IVF with those on AC Valencia because
S&P thinks there is an almost certain likelihood that AC Valencia
would provide timely and sufficient extraordinary support to IVF
if needed.  S&P bases its view on its assessment of IVF's:

   -- Critical role for AC Valencia.  IVF manages the debt of AC
      Valencia and its public-sector entities.  IVF also
      implements public lending policies on behalf of AC
      Valencia.  S&P thinks these functions could not be easily
      undertaken by a private entity, so if IVF did not exist,
      the region would have to carry out these roles.

   -- Integral link with AC Valencia.  IVF is a public entity,
      created by law, that is fully owned and tightly controlled
      by AC Valencia.  S&P understands that IVF cannot be
      privatized without a change in its bylaws, and, if
      dissolved, AC Valencia would ultimately be liable for its
      obligations.  Moreover, AC Valencia provides a statutory
      guarantee on IVF's debt, which supports S&P's assessment of
      IVF's integral link with AC Valencia.  S&P also thinks
      that, due to the guarantee, the markets would perceive a
      default by IVF as tantamount to a default by the region.
      However, S&P do not base its ratings on IVF on the language
      of the statutory guarantee.  S&P sees AC Valencia as being
      strongly involved in IVF's management.  The region appoints
      the majority of representatives on IVF's supervisory board
      as well as IVF's general director.  IVF's president is also
      the regional government's minister of finance.  IVF
      receives ongoing financial support from the regional
      government through yearly operating and capital transfers,
      as well as capital injections, to offset losses and cover
      maturing debt.

IVF is included in AC Valencia's public-sector consolidation
scope under the European System of Accounts Standards.
Consequently, IVF's debt is also indirectly covered by the
liquidity support that Spain's central government provides to AC
Valencia through the regional liquidity facility, Fondo de
Financiacion a Comunidades Autonomas.

IVF's loan portfolio has shrunk to EUR0.8 billion at year-end
2015 from EUR1.3 billion at year-end 2012, since AC Valencia's
previous government withdrew IVF's mandate as a lending
institution.  The new regional government has reassigned IVF the
mandate of lending to the private sector, in line with AC
Valencia's public policy, and where private-sector lending is not
available.  S&P observes that the size of the loan portfolio
remains practically invariable as of June 30, 2016.

S&P understands that IVF's strategy consists of clearly
separating its activities in two groups: a) the management of the
region's debt and guarantees, and the supervision of the regional
financing system; and b) the provision of credit to private
entities. Ultimately, AC Valencia expects to segregate the
private-lending activity and set up a promotional bank following
the EU guidelines on this type of entity.  S&P understands that
the spin-off is subject to improvement in IVF's financial
position.  Nevertheless, S&P thinks that, even under such a
scenario, AC Valencia would extend its statutory guarantee to the
promotional bank and will continue providing strong support to
IVF through subsidies and capital injections, if needed.

The stable outlook on IVF mirrors that on AC Valencia.  If S&P
downgraded AC Valencia, S&P would downgrade IVF.

S&P could upgrade IVF if it upgraded AC Valencia and S&P
continued to expect an almost certain likelihood of support from
AC Valencia to IVF, based on S&P's view of IVF's integral link
with and critical role for the region.


===========
T U R K E Y
===========


TURKIYE VAKIFLAR: Fitch Affirms 'BB+' Rating on Subordinated Debt
-----------------------------------------------------------------
Fitch Ratings has affirmed T.C. Ziraat Bankasi A.S.'s, Turkiye
Halk Bankasi A.S.'s and Turkiye Vakiflar Bankasi T.A.O.'s
(Vakifbank) Long-Term Issuer Default Ratings (IDRs) at 'BBB-'
with Negative Outlooks.

The banks are either fully or majority state-owned and represent
a combined share of roughly 30% of Turkey's banking sector
assets, loans and deposits.

                        KEY RATING DRIVERS

VRs, IDRS, SENIOR DEBT

The IDRs and senior debt ratings of Ziraat, Halk and Vakifbank
are underpinned both by their 'bbb-' Viability Ratings (VRs) and
by their 'BBB-' Support Rating Floors (SRFs).  The Negative
Outlooks reflect the potential for both their VRs and SRFs to be
downgraded and revised downward respectively in case of a
sovereign downgrade.  They also reflect the downside risk to the
banks' credit profiles resulting from a significant weakening of
the operating environment.

The affirmation of the VRs reflects the banks' strong franchises
and generally sound financial metrics, notwithstanding recent
rapid growth and a challenging Turkish operating environment.
However, the VRs could be downgraded in light of downside risks
to asset quality, profitability and capitalization, as a result
of slowing GDP growth and potential further currency and interest
rate volatility.  In addition, significant foreign currency
wholesale funding -- much of which remains short-term --
heightens refinancing risk, leaving the banks exposed to
potential changes in investor sentiment.

Ziraat is the largest domestic bank, with market shares of 13%-
14% in sector assets and deposits at end-1H16, and a policy role
as the sole provider of subsidized agricultural loans in Turkey
(end-1H16: around 15% of gross loans).  Halk and Vakif are the
sixth- and seventh- largest banks in Turkey in assets and
deposits (end-1H16: market shares of 8%-10%).  Halk also benefits
from its policy role as the sole provider of subsidized loans to
small businesses through cooperatives (end-1H16: 14% of gross
loans).

All three banks benefit from significant and stable state-related
funding which, excluding budgetary funds, at end-1H16 equaled to
12%, 13% and 21% of total funding at Ziraat, Halk and Vakifbank,
respectively.

Asset quality at the three banks is reasonable and is underpinned
by low non-performing loan (NPL) ratios in subsidized
agricultural and SME lending (at Ziraat and Halk); loans to
payroll customers and pensioners, which account for a large
proportion of the three banks' unsecured consumer loan
portfolios; and mortgage lending.

Concentration risks are manageable with the largest exposures,
which are frequently in foreign currency, typically to prime
corporates with diverse businesses and access to foreign currency
revenues.  Specific reserves coverage of NPLs (defined as loans
overdue by 90+ days) is strong at Ziraat and adequate at Halk and
Vakif.  Consequently, net NPLs relative to Fitch Core Capital are
low at all three banks.

At end-1H16, NPLs stood at 1.6% at Ziraat, 3.1% at Halk and 4.1%
at Vakifbank.  Including regulatory group 2 watch list loans,
which at end-1H16 accounted for 2.1%, 2.8% and 4.8% of gross
loans at Ziraat, Halk and Vakifbank, respectively, asset quality
was still generally reasonable.  However, the share of
higher-risk restructured group 2 loans rose at each of the banks,
suggesting moderate deterioration in asset quality.  NPL ratios
at state-owned banks are not fully comparable with the sector NPL
ratio since they do not typically write off or sell problem
loans.

Downside risks to asset quality exist for the three banks, as for
the whole sector.  Exposure to SMEs -- a segment that is highly
sensitive to the slower growth environment -- accounted for 37%,
40% and 27% of gross loans at Ziraat, Halk and Vakifbank,
respectively, at end-1H16.

The banks' exposure to troubled sectors such as tourism and
energy is moderate.  Many energy loans are long-term, foreign
currency project finance loans, although the currency risk in
this portfolio is partly hedged due to energy prices being US-
dollar linked.  Some projects also relate to renewable projects
that benefit from a government guaranteed floor price set in US
dollars.

Total FX lending (on a consolidated basis, including FX-indexed
loans) ranged from 26% to 31% of the banks' gross loans at end-
1H16, below the sector average.  This is nevertheless high,
particularly given the potential for further depreciation of the
Turkish lira.  However, the typically long-term, amortizing and
quarterly or semi-annual repayment structures of foreign currency
loans mean that asset quality problems would feed through only
gradually.

Fitch believes that the banks' capital bases, which consist
mainly of common equity tier 1, remain sufficient to absorb a
further moderate increases in credit losses or withstand moderate
shocks. At end-1H16 the banks' Fitch Core Capital ratios stood at
12.8% (Ziraat), 12.1% (Halk) and 11.4% (Vakifbank).  The release
of general provisions relating to consumer loans, due to a change
in regulation, could provide moderate uplift to Ziraat's and
Vakifbank's capital ratios in Q416 (Halk released these
provisions in 2015).

Capitalization is underpinned by internal capital generation,
which has been consistently sound at Ziraat (1H16: 16.2%) and
more moderate, but still reasonable, at Halk (14.3%) and
Vakifbank (12.1%).  In all cases internal capital generation is
broadly in line with the banks' loan growth targets.  However,
volatility in performance ratios is possible given heightened
operating environment pressures.

Ziraat's profitability has been somewhat better than peers in
recent periods, due to the bank's pricing power, economies of
scale, stronger cost efficiency and superior asset quality
record. In 1H16 it reported a return on equity (ROE) of 20.1%
compared with 14.9% and 12.6% at Halk and Vakif, respectively,
and a sector average of 14.6%.

Capital ratios at all three banks have been eroded in recent
years by fairly rapid loan growth and the depreciation of the
Turkish lira.  They remain sensitive to further potential local
currency depreciation or sovereign downgrades, which would result
in higher risk weightings on foreign currency reserves and
government debt.

The phase-in of Basel III tier 1 buffers by 2019 -- including the
systemically important financial institution (SIFI) buffer (an
additional 2% for Ziraat and 1% for Halk and Vakifbank) and the
2.5% capital conservation buffer -- will reduce the banks'
capital flexibility over the medium term (due to a rise in
minimum capital ratio thresholds).

All three banks are primarily customer deposit-funded (ranging
from 65% to 70% of total funding) and foreign currency wholesale
funding is below the sector average, but still significant.  At
end-1H16 foreign currency wholesale funding represented a
moderate 16% of total funding at Ziraat and a higher 20% at Halk
and Vakifbank, respectively.

The banks have been seeking to lengthen their maturity funding
profiles through longer-term debt issuance but a significant
share of foreign currency non-customer liabilities are
nevertheless due within one year.  Mitigating the refinancing
risk is the banks' record of market access to date and broad
investor bases.

Fitch views foreign currency liquidity buffers (defined as cash,
placements in foreign banks, unpledged government foreign
currency securities, placements in the central bank's reserve
option mechanism (ROM) and net receivables under foreign currency
swaps) as generally adequate at all three banks.  Fitch's
calculates that these buffers at end-1Q16 broadly covered the
banks' short-term foreign currency non-deposit liabilities due
within a year. Nevertheless, foreign currency liquidity could
come under pressure in the event of prolonged marked closure.

             SUPPORT RATINGS and SUPPORT RATING FLOORS

The banks' '2' Support Ratings and 'BBB-' Support Rating Floors
reflect Fitch's view of a high probability of support from the
Turkish authorities in case of need.  The SRFs are aligned with
the sovereign's Long-Term Foreign Currency IDR and reflect the
banks' (i) ownership structures (ii) policy roles (Ziraat, Halk)
(iii) systemic importance, and (iv) significant state-related
deposits.

Nevertheless, Fitch believes that the state's ability to provide
extraordinary foreign currency support, if required, may be
somewhat constrained given limited central bank reserves (net of
placements from banks) and the banking sector's sizable external
debt.  However, in light of the adequate liquidity buffers of
Ziraat, Halk and Vakifbank, foreign currency liquidity needs
should be manageable for the sovereign even in quite extreme
scenarios.

A sovereign downgrade would likely result in a downward revision
of the SRFs of Ziraat, Halk and Vakifbank due to the diminished
ability of the sovereign to provide support.

                    VAKIFBANK SUBORDINATED DEBT

Vakifbank's 'BB+' subordinated debt rating is notched down once
from the bank's 'bbb-' VR to reflect below-average recovery
prospects in case of default.

                          NATIONAL RATINGS

The affirmation of the banks' National Ratings with Stable
Outlooks reflects Fitch's view that their creditworthiness
relative to one another and to other Turkish issuers remains
unchanged.

                       RATING SENSITIVITIES

IDRS, NATIONAL RATINGS AND SENIOR DEBT

The Negative Outlooks on the IDRs reflect the potential both for
their VRs to be downgraded in case of a significant weakening of
the operating environment and for their SRFs to be revised
downwards if the sovereign is downgraded.  A stabilization of the
sovereign credit profile and the country's economic prospects
would reduce downward pressure on the ratings.

VR downgrades could result from (i) bank-specific deterioration
of asset quality; (ii) further erosion of capital ratios due to
continued lira depreciation; or (iii) a weakening of foreign
currency liquidity positions.  However, a downgrade of the VR
would only result in negative action on banks' IDRs if at the
same time Fitch believes the ability or propensity of the Turkish
authorities to provide support - as reflected in their SRFs - has
weakened.

Changes in SRs and SRFs would likely be linked to changes in the
sovereign's ratings.  These ratings could also be downgraded and
revised downward respectively if either (i) the banks' foreign
currency positions deteriorate to an extent that might limit the
sovereign's ability to provide them with sufficient extraordinary
support in foreign currency; (ii) Fitch believes the ability of
the sovereign to provide support in case of need has markedly
reduced; or (iii) Fitch believes the sovereign's propensity to
support the banks has reduced.

A change of ownership at the banks, or the introduction of bank
resolution legislation in Turkey aimed at limiting sovereign
support for failed banks, could also negatively impact Fitch's
view of support propensity, and hence the banks' SRs and SRFs,
although such developments are not expected in the near term.

Vakifbank's subordinated debt rating is sensitive to a change in
the bank's VR.  The notes' rating is also sensitive to a change
in notching due to a change in Fitch's assessment of the
probability of the notes' non-performance risk relative to the
risk captured in Vakifbank's VR, or in its assessment of loss
severity in case of non-performance.

The rating actions are:

T.C. Ziraat Bankasi A.S., Turkiye Halk Bankasi A.S. and Turkiye
Vakiflar Bankasi T.A.O.

  Long-Term Foreign and Local Currency IDRs affirmed at 'BBB-';
   Outlook Negative
  Short-Term Foreign and Local Currency IDRs affirmed at 'F3'
  Viability Ratings affirmed at 'bbb-'
  Support Ratings affirmed at '2'
  Support Rating Floors affirmed at 'BBB-'
  Long-term senior unsecured ratings affirmed at 'BBB-'
  Short-term senior unsecured ratings (Ziraat and Vakifbank)
   affirmed at 'F3'
  Subordinated debt rating (Vakifbank): affirmed at 'BB+'
  National Long-Term Ratings affirmed at 'AAA(tur)'; Outlook
   Stable


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


BHS GROUP: MPs to Vote on Stripping Sir Philip Green's Knighthood
-----------------------------------------------------------------
Adam Parsons at BBC News reports that MPs are set to vote on
whether Sir Philip Green should be stripped of his knighthood.

According to BBC, the collapse of retailer BHS will be discussed
in a week's time, following a highly critical report by the
Business and Pension Committees.

An amendment has now been added to that debate, calling for Sir
Philip's honor to be cancelled, BBC relates.

It is believed to be the first time that MPs have ever debated a
motion on whether to annul an honor, BBC states.

The motion has been put forward by Conservative MP Richard Fuller
and independent MP Michelle Thomson, and comes less than two
months after the final BHS store closed its doors, BBC discloses.
The vote will be on Oct. 20, BBC says.

Sir Philip has come under relentless scrutiny since selling BHS
for GBP1 to a little-known entrepreneur, Dominic Chappell, in
March 2015, BBC relays.

Mr. Chappell had barely any experience of working in retail, and
had been declared bankrupt at least twice, BBC notes.  What
followed was a year of decline and collapse, with the chain going
into administration a year after its sale, before closing its
doors for good a few months later, BBC recounts.

BHS Group was a high street retailer offering fashion for the
whole family, furniture and home accessories.


ENQUEST PLC: To Undergo Complex Financial Restructurings
--------------------------------------------------------
Jillian Ambrose at The Telegraph reports that troubled oil
explorer Enquest is preparing to undertake one of the North Sea's
largest and most complex financial restructurings in a bid to
survive a GBP2 billion debt crunch expected by the middle of next
year.

According to The Telegraph, the UKs' largest independent oil and
gas producer plans to raise GBP82 million through an equity share
placing to give it financial room for maneuver before its
cornerstone project in the Kraken oilfield begins generating
revenues.

At the same time Enquest's lending group are preparing to
restructure its revolving credit facility of up to US$1.7
billion, its GBP155 million retail notes and exchange its US$650
million high yield notes for new loans, The Telegraph discloses.

The radical overhaul comes after years of struggle for Enquest
which was hurt by the oil price rout over the past two years,
running up debt of US$1.7 billion as it continued spending
through the downturn to develop the North Sea's largest heavy
oilfield project, The Telegraph notes.

By the middle of next year Enquest faces a net debt position of
US$1.9 billion compared to financing facilities of $2.1 billion,
meaning any cost overrun at Kraken could leave the explorer
dangerously close to insolvency, The Telegraph states.


EURO GARAGES: S&P Affirms Parent's 'B' CCR, Outlook Stable
----------------------------------------------------------
S&P Global Ratings affirmed its 'B' long-term corporate credit
rating on Intervias Group Ltd., the parent of the U.K.-based
petrol filling station (PFS) operator Euro Garages.  The outlook
is stable.

At the same time, S&P lowered its issue rating on the group's
GBP650 million equivalent senior secured credit facilities to 'B'
from 'B+'.  S&P revised its recovery rating on these facilities
to '3' from '2', indicating its expectation of meaningful
recovery prospects in the higher half of the 50%-70% recovery
range, in the event of payment default.

S&P also assigned its 'B' issue rating to the proposed
GBP750 million senior secured credit facilities. The recovery
rating of '3' on these facilities indicates S&P's expectation of
meaningful recovery prospects in the higher half of the 50%-70%
recovery range, in the event of payment default.

The affirmation follows Euro Garages' announcement that it plans
to merge with European Forecourt Retail Group (EFR; B/Stable/--).
The transaction is still pending regulatory approval and the
company expects this to be completed in November 2016.  S&P
expects the combined group's capital structure will remain highly
leveraged post transaction, with a ratio of S&P Global Ratings'
adjusted debt to EBITDA of around 8.5x over the next two years,
including approximately GBP530 million-GBP580 million of
preference shares that S&P treats as debt under its methodology,
and in the range of 6.0x to 6.5x, excluding preference shares.
S&P notes that there is almost no headroom under the credit
metrics at the current rating level.

This is because the transaction will add about GBP340 million of
incremental senior secured debt to the combined group's balance
sheet.  At the same time, S&P recognizes the cash-preservative
nature of the preference shares, and it forecasts that the group
will maintain sound interest coverage and continue to report
healthy free operating cash flow (FOCF).

The rating on Intervias also incorporates S&P's view of the
future joint ownership and control of the group by a financial
sponsor, TDR Capital, and the founders and co-CEOs of Euro
Garages Mohsin and Zuber Issa.  S&P anticipates that the absence
of amortizing debt in the capital structure and the strategy of
the shareholders to take advantage of market consolidation
opportunities might constrain the deleveraging potential of
Intervias over the medium term.

Post transaction, the group's capital structure would comprise
GBP370 million of term loan B1, GBP280 million equivalent of term
loan B2 (in euros), GBP250 million of new term loan C1, and
GBP500 million equivalent of new term loan C2 (in euros).  In
addition, the size of the revolving credit facilities (RCF) will
be increased to GBP135 million, and the capital expenditure
(capex) and acquisition facilities to GBP102 million, in order to
support the enlarged group. We expect the RCF will largely remain
undrawn. S&P's adjusted debt calculation also includes
approximately GBP530 million-GBP580 million of preference shares
provided by TDR Capital and about GBP325 million of operating
lease adjustment coming primarily from EFR.

The merger will increase the scale and improve purchasing power
of the two combined businesses and create the largest independent
petrol filling station (PFS) operator in Europe, with close to
1,500 sites across the U.K., France, the Netherlands, and
Belgium, and about GBP230 million expected pro forma EBITDA in
2016. However, the group will continue to operate in fragmented
and competitive markets.  Large supermarkets and major integrated
oil companies represent Intervias' largest competitors and, as an
example, account for about 60% of the fuel sold in the U.K. by
volume.  This continues to constrain S&P's assessment of the
group's business risk profile, which remains unchanged at weak.

"In addition, we note that Euro Garages and EFR are present in
different geographies and will continue to operate under their
own brands with their current management teams, leading to our
view of limited potential for synergies.  That said, we
understand that the management teams will target joint growth
plans, seek cost benefits, and share best practices.  In
particular, there are plans to accelerate the roll-out of
convenience stores and food-to-go offerings, with a target to
reach 70% of the group's gross margins generated by its nonfuel
segment.  The group aims to use this approach to attract footfall
traffic and spending, and help moderate earnings and cash flow
volatility in the event of unexpected shortfalls in fuel volumes
sold.  Other initiatives include the transition of EFR network to
self-owned, self-operating model that allows for greater control
over quality, consistency of offerings, and cost base, although
this is associated with more operational risk; and the site
portfolio optimization including new highway sites where demand
is less price sensitive," S&P said.

The stable outlook on Intervias reflects S&P' expectation that
the group's adjusted debt to EBITDA will remain close to 8.5x
over the next 12 months, including preference shares (and in the
6.0x-6.5x range excluding preference shares).  At the same time,
S&P anticipates a sound ratio of adjusted FFO to cash interest
above 3.0x, unadjusted EBITDAR coverage of above 2.0x and healthy
reported FOCF in excess of GBP30 million, on the back of earnings
growth through sound execution of the merger transaction and
moderate profit growth.

S&P could lower the rating if Intervias' adjusted debt to EBITDA
approaches 10.0x including preference shares (or 8.0x excluding
preference shares) as a result of further debt-financed
acquisition or higher capex.  This scenario could occur if the
group's growth and investment plan did not translate into higher
earnings.

Moreover, considering the very low headroom under the credit
metrics for the current rating, rating pressure could also occur
as a result of unexpected execution issues relating to the merger
or a prolonged period of weak trading conditions or earnings
volatility, weakening our FFO cash interest coverage toward 2.0x
and unadjusted EBITDAR coverage to below 1.5x.

Due to the very high debt levels, S&P views the potential for
raising the rating as limited.  Nevertheless, S&P could consider
raising the rating if Intervias successfully executes the merger
and its margin-enhancing initiatives bringing S&P's adjusted debt
to EBITDA to below 5.0x on a sustainable basis, including
preference shares.  S&P would also expect this to be accompanied
by a low risk of releveraging in light of its acquisitive
expansion strategy in the PFS market.


FINSBURY SQUARE 2016-2: Moody's Rates Class X Notes Caa1
--------------------------------------------------------
Moody's Investors Service has assigned definitive ratings to the
Notes issued by Finsbury Square 2016-2:

   -- GBP296.700M Class A notes due 2058, Definitive Rating
      Assigned Aaa (sf)

   -- GBP14.660M Class B notes due 2058, Definitive Rating
      Assigned Aa1 (sf)

   -- GBP15.520M Class C notes due 2058, Definitive Rating
      Assigned Aa3 (sf)

   -- GBP7.760M Class D notes due 2058, Definitive Rating
      Assigned A1 (sf)

   -- GBP10.360M Class E notes due 2058, Definitive Rating
      Assigned Ba2 (sf)

   -- GBP10.350M Class X notes due 2058, Definitive Rating
      Assigned Caa1 (sf)

Moody's has not assigned ratings to the GBP6.900M Class Z notes.

The portfolio backing this transaction consists of UK prime
residential loans originated by Kensington Mortgage Company
Limited ("KMC", not rated). The loans were sold by KMC to Koala
Warehouse Limited (the "Seller", not rated) at the time of each
loan origination date. On the closing date the Seller has sold
the portfolio to Finsbury Square 2016-2.

RATINGS RATIONALE

The ratings of the notes take into account, among other factors:
(1) the performance of the previous transactions launched by KMC;
(2) the credit quality of the underlying mortgage loan pool, (3)
legal considerations and (4) the initial credit enhancement
provided to the senior notes by the junior notes and the reserve
fund.

Expected Loss and MILAN CE Analysis

Moody's determined the MILAN credit enhancement (MILAN CE) and
the portfolio's expected loss (EL) based on the pool's credit
quality. The MILAN CE reflects the loss Moody's expects the
portfolio to suffer in the event of a severe recession scenario.
The expected portfolio loss of 2.0% and the MILAN CE of 11.0%
serve as input parameters for Moody's cash flow model and
tranching model, which is based on a probabilistic lognormal
distribution.

Portfolio expected loss of 2.0%: this is higher than the UK Prime
RMBS sector average and was evaluated by assessing the
originator's limited historical performance data and benchmarking
with other UK prime RMBS transactions. It also takes into account
Moody's stable UK Prime RMBS outlook and the UK economic
environment.

MILAN CE of 11.0%: this is higher than the UK Prime RMBS sector
average and follows Moody's assessment of the loan-by-loan
information taking into account the historical performance
available and the following key drivers: (i) although Moody's
have classified the loans as prime, it believes that borrowers in
the portfolio often have characteristics which could lead to them
being declined from a high street lender; (ii) the weighted
average current LTV of 70.9%, (iii) the very low seasoning of
0.44 years, (iv) the proportion of interest-only loans (17.70%);
(v) the proportion of buy-to-let loans (14.9%); and (vi) the
absence of any right-to-buy, shared equity, fast track or self-
certified loans.

Transaction structure

At closing the mortgage pool balance consists of GBP 344,153,712
million of loans. The General Reserve Fund is equal to 2.0% of
the principal amount outstanding of Class A, B, C, D and E notes.
This amount is only available to pay senior expenses, Class A,
Class B, Class C and Class D notes interest and to cover losses.
The Reserve Fund is not amortizing as long as the Class D notes
are outstanding. After Class D has been fully amortized, the
Reserve Fund will be equal to 0%. The Reserve fund will be
released to the revenue waterfall on the final legal maturity or
after the full repayment of Class D notes. If the Reserve fund is
less than 1.5% of the principal outstanding of class A to E, a
liquidity reserve fund will be funded with principal proceeds up
to an amount equal to 2% of the Classes A and B.

Operational risk analysis

KMC is acting as servicer. KMC sub-delegates certain primary
servicing obligations to Home Loan Management Limited (HML, not
rated) and Acenden Limited (Acenden, not rated). All loans
originated from 17th March 2016 are serviced by Acenden. The
loans originated prior to 17th March 2016 are serviced by HML
with possibility to transfer servicing of this sub-pool to
Acenden. In order to mitigate the operational risk, there is a
back-up servicer facilitator (Structured Finance Management
Limited, not rated, also acting as corporate services provider),
and Wells Fargo Bank, N.A. (Aa2/P-1/Aa1(cr)) is acting as a back-
up cash manager from close.

All of the payments under the loans in the securitized pool are
paid into the collection account in the name of KMC at Barclays
Bank plc ("Barclays", A2/P-1 and A1(cr)/P-1(cr)). There is a
daily sweep of the funds held in the collection account into the
issuer account. In the event Barclays rating falls below Baa3 the
collection account will be transferred to an entity rated at
least Baa3. There is a declaration of trust over the collection
account held with Barclays in favour of the Issuer. The issuer
account is held in the name of the SPV at Citibank N.A. London
Branch (A1/(P)P-1 and A1(cr)/P-1(cr)) with a transfer requirement
if the rating of the account bank falls below A3. Moody's has
taken into account the commingling risk associated with the
collection account within its cash flow modelling.

To ensure payment continuity over the transaction's lifetime the
transaction documents including the swap agreement incorporate
estimation language whereby the cash manager can use the three
most recent servicer reports to determine the cash allocation in
case no servicer report is available. The transaction also
benefits from principal to pay interest for Class A to D notes,
subject to certain conditions being met.

Interest rate risk analysis

At closing 100% of the loans in the pool are fixed-rate mortgage,
which will revert to three-month sterling Libor plus margin
between January 2018 and May 2021. The note coupons are linked to
three-month sterling Libor, which leads to a fixed-floating rate
mismatch in the transaction. To mitigate the fixed-floating rate
mismatch the structure benefits from a fixed-floating swap. The
swap will mature the earlier of the date on which floating rating
notes have redeemed in full or the date on which the swap
notional is reduced to zero. BNP Paribas (A1/P-1/Aa3(cr)/P-1(cr))
is acting as the swap counterparty for the fixed-floating swap in
the transaction.

After the fixed rate loans revert to floating rate, there is a
basis risk mismatch in the transaction, which results from the
mismatch between the reset dates of the three-month Libor of the
loans in the pool and the three-month Libor used to calculate the
interest payments on the notes. Moody's has taken into
consideration the absence of basis swap in its cash flow
modelling.

Stress Scenarios

Moody's Parameter Sensitivities: At the time the ratings were
assigned, the model output indicates that the Class A Notes would
still achieve Aaa(sf), even if the portfolio expected loss was
increased from 2.0% to 6.0% and the MILAN CE was increased from
11.0% to 17.6%, assuming that all other factors remained the
same. The Class B Notes would have achieved Aa1(sf), even if
MILAN CE was increased to 15.4% from 11.0% and the portfolio
expected loss was increased to 6.0% from 2.0% and all other
factors remained the same. The Class C Notes would have achieved
Aa3(sf), even if MILAN CE was increased to 13.2% from 11.0% and
the portfolio expected loss was increased to 4.0% from 2.0% and
all other factors remained the same. The Class D Notes would have
achieved A1(sf), even if the expected loss was increased to 3.0%
from 2.0% and MILAN CE was increased to 13.2% from 11.0% and all
other factors remained the same. The Class E Notes would have
achieved Ba2(sf), even if the expected loss was increased to 4.0%
from 2.0% and MILAN CE was increased to 13.2% from 11.0% and all
other factors remained the same. The Class X Notes would have
achieved Caa1(sf), even if the expected loss was increased to
3.0% from 2% and MILAN CE was increased to 17.6% from 11.0% and
all other factors remained the same.

Moody's Parameter Sensitivities quantify the potential rating
impact on a structured finance security from changing certain
input parameters used in the initial rating. The analysis assumes
that the deal has not aged and is not intended to measure how the
rating of the security might change over time, but instead what
the initial rating of the security might have been under
different key rating inputs.

Moody's Parameter Sensitivities provide a quantitative/model-
indicated calculation of the number of rating notches that a
Moody's structured finance security may vary if certain input
parameters used in the initial rating process differed. The
analysis assumes that the deal has not aged and is not intended
to measure how the rating of the security might migrate over
time, but rather how the initial rating of the security might
have differed if key rating input parameters were varied.
Parameter Sensitivities for the typical EMEA RMBS transaction are
calculated by stressing key variable inputs in Moody's primary
rating model.

The principal methodology used in these ratings was "Moody's
Approach to Rating RMBS Using the MILAN Framework" published in
September 2016.

The analysis undertaken by Moody's at the initial assignment of
ratings for RMBS securities may focus on aspects that become less
relevant or typically remain unchanged during the surveillance
stage. Please see Moody's Approach to Rating RMBS Using the MILAN
Framework for further information on Moody's analysis at the
initial rating assignment and the on-going surveillance in RMBS.

Factors that would lead to an upgrade or downgrade of the
ratings:

Significantly different loss assumptions compared with our
expectations at close due to either a change in economic
conditions from our central scenario forecast or idiosyncratic
performance factors would lead to rating actions. For instance,
should economic conditions be worse than forecast, the higher
defaults and loss severities resulting from a greater
unemployment, worsening household affordability and a weaker
housing market could result in downgrade of the ratings.
Deleveraging of the capital structure or conversely a
deterioration in the notes available credit enhancement could
result in an upgrade or a downgrade of the rating, respectively.

The ratings address the expected loss posed to investors by the
legal final maturity of the Notes. In Moody's opinion, the
structure allows for timely payment of interest and ultimate
payment of principal with respect to the Class A, Class B, Class
C and Class D Notes by the legal final maturity. In Moody's
opinion, the structure allows for ultimate payment of interest
and principal with respect to the Class E and Class X Notes by
the legal final maturity. Moody's ratings only address the credit
risk associated with the transaction. Other non-credit risks have
not been addressed, but may have a significant effect on yield to
investors.


GULF KEYSTONE: Capital Restructuring Hits Investors
---------------------------------------------------
Andrew Ward at The Financial Times reports that for investors in
Gulf Keystone finally felt last week the losses from all the
setbacks suffered by the Kurdistan-focused oil producer.

According to the FT, a capital restructuring completed on Oct. 13
kept the company afloat, but at the cost of heavy dilution to
shareholders through the conversion of US$500 million of debt
into equity.

Jon Ferrier, chief executive, said the deal with creditors marked
a fresh start for a company that has struggled to deliver on the
promise of its large reserves in Kurdish northern Iraq as the
region has suffered continued political violence, the FT relates.

A US$300m takeover offer for Gulf Keystone from DNO, the
Norwegian oil explorer, made earlier this year but conditional on
a successful capital restructuring, may now come back into focus,
the FT says.

However, Mr. Ferrier, as cited by the FT, said there were no
active discussions under way.

"We no longer need a deal," the FT quotes Mr. Ferrier as saying.
"We're focused on delivery."

Gulf Keystone Petroleum Limited is an oil and gas exploration and
production company operating in the Kurdistan region of Iraq.  It
is listed on the main market of the London Stock Exchange.


* UK: "Hard Brexit" May Lead to Upswing in Insolvencies
-------------------------------------------------------
Press Association reports that Britain will face an upswing in
insolvencies if the Government embarks on a "hard Brexit" by
breaking free of the European single market, a report has shown.

According to Press Association, despite business failures falling
for 16 quarters on the bounce, a decision to ditch the single
market would trigger a rise in insolvencies, as Brexit
uncertainty increases late payments, causing more companies to go
bust.

The study by trade credit insurer Euler Hermes said a "hard
Brexit" would see insolvency numbers remain at 20,000 this year,
before jumping 8% to 21,800 next year and rising 6% to 23,100 in
2018, Press Association relates.  The number of bankruptcies
would then climb a further 15% to 26,570 in 2019, Press
Association says.

It said insolvency levels would be markedly lower -- rising 9% to
25,170 in 2019 -- if Britain remained in the single market, Press
Association relays.

Ludovic Subran, chief economist at Euler Hermes, as cited by
Press Association, said: "The surprising resilience of the UK
economy today is masking underlying issues, such as the decline
in non-financial sector profitability since 2015, highly
leveraged sectors and companies which are particularly vulnerable
to external shocks, corporate late payment and insolvency issues,
and over-indebtedness amongst consumers.

"Uncertainty in the lead-up to the UK's exit from the EU will
only add to these growing problems."

Political uncertainty surrounding the EU referendum result has
wreaked havoc on the financial and currency markets by ramping up
volatility, Press Association states.


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


* BOND PRICING: For the Week October 10 to October 14, 2016
-----------------------------------------------------------

Issuer                  Coupon    Maturity  Currency  Price
------                  ------    --------  --------  -----
Deutsche Bank AG           6.00               EUR     74.81
Rickmers Holding AG        8.88  6/11/2018    EUR     21.88
Fomento de Construccion    6.50 10/30/2020    EUR     47.97
Scholz Holding Gmbh        8.50   3/8/2017    EUR      8.00
Oi Brasil Holdings Coop    5.75  2/10/2022    USD     24.42
Brighthouse Group PLC      7.88  5/15/2018    GBP     58.38
CSN Resources SA           6.50  7/21/2020    USD     66.61
Ensco PLC                  5.20  3/15/2025    USD     69.87
Portugal Telecom Intern    4.63   5/8/2020    EUR     23.51
Banca Monte dei Paschi     5.00  4/21/2020    EUR     63.09
Abengoa SA                 8.50  3/31/2016    EUR      4.53
Abengoa Finance SA         8.88   2/5/2018    EUR      4.26
Cooperativa Muratori &     7.50   8/1/2021    EUR     74.19
Casino Guichard Perrach    1.33               EUR     53.37
Veneto Banca SpA           9.50  12/1/2025    EUR     67.86
Ensco PLC                  5.75  10/1/2044    USD     59.90
Ajecorp BV                 6.50  5/14/2022    USD     54.71
Sacyr SA                   4.00   5/8/2019    EUR     74.06
Nordea Bank AB             0.44               EUR     58.84
Banque Federative du Cr    0.56               EUR     55.72
KTG Energie AG             7.25  9/28/2018    EUR      6.00
Portugal Telecom Intern    4.38  3/24/2017    EUR     23.63
Banca Monte dei Paschi     2.36  5/15/2018    EUR     64.50
Banca Popolare di Vicen    9.50  9/29/2025    EUR     67.77
Banca Monte dei Paschi     5.60   9/9/2020    EUR     63.22
Oi Brasil Holdings Coop    5.63  6/22/2021    EUR     24.02
Abengoa Finance SA         6.00  3/31/2021    EUR      4.02
Grupo Isolux Corsan Fin    6.63  4/15/2021    EUR     17.51
Aldesa Financial Servic    7.25   4/1/2021    EUR     68.13
KTG Agrar SE               7.13   6/6/2017    EUR      1.72
Banca Monte dei Paschi     0.70 11/30/2017    EUR     65.08
Bank of New York Mellon    4.20 12/15/2050    EUR     35.87
Portugal Telecom Intern    5.88  4/17/2018    EUR     23.50
Abengoa Finance SA         7.00  4/15/2020    EUR      4.19
Credit Agricole SA         0.68               EUR     61.86
HSBC Bank PLC              1.19               USD     66.56
Offshore Drilling Holdi    8.38  9/20/2020    USD     56.00
AXA SA                     0.72               EUR     57.34
Ensco PLC                  4.50  10/1/2024    USD     69.89
Intelsat Luxembourg SA     7.75   6/1/2021    USD     31.06
Portugal Telecom Intern    5.00  11/4/2019    EUR     23.51
CGG SA                     1.75   1/1/2020    EUR      4.90
PagesJaunes Finance & C    8.88   6/1/2018    EUR     60.08
Fuerstenberg Capital II    5.63               EUR     66.22
EnQuest PLC                7.00  4/15/2022    USD     48.75
Bilt Paper BV              9.64               USD     46.05
Gol LuxCo SA               8.88  1/24/2022    USD     63.50
Far East Capital Ltd SA    8.00   5/2/2018    USD     44.78
QGOG Constellation SA      6.25  11/9/2019    USD     44.41
OAS Investments GmbH       8.25 10/19/2019    USD      5.30
Homann Holzwerkstoffe G    7.00 12/14/2017    EUR     72.38
CGG SA                     5.88  5/15/2020    EUR     53.99
Novo Banco SA              5.00  4/23/2019    EUR     70.03
Banco Espirito Santo SA    4.00  1/21/2019    EUR     21.88
Portugal Telecom Intern    6.25  7/26/2016    EUR     22.61
Aegon NV                   0.16               EUR     54.78
BPCE SA                    1.76               USD     64.50
Brunswick Rail Finance     6.50  11/1/2017    USD     53.52
Santander International    2.00               USD     42.63
Aegon NV                   1.43               USD     66.15
Banco Espirito Santo SA    2.63   5/8/2017    EUR     22.00
Abengoa Greenfield SA      5.50  10/1/2019    EUR      4.23
HSBC Bank PLC              1.19               USD     66.85
CGG SA                     6.50   6/1/2021    USD     49.80
Portugal Telecom Intern    4.50  6/16/2025    EUR     23.44
Fiat Chrysler Automobil    7.88 12/15/2016    USD     63.69
Bank of New York Mellon    3.96 12/30/2099    EUR     10.50
Rudolf Woehrl AG           6.50  2/12/2018    EUR     16.00
HSH Nordbank AG/Luxembo    2.10               EUR     16.33
Barclays Bank PLC          1.50               USD     69.75
Indo Energy Finance II     6.38  1/24/2023    USD     70.38
BNP Paribas Fortis SA      1.70               EUR     65.59
Air France-KLM             2.03  2/15/2023    EUR     10.28
Intelsat Jackson Holdin    5.50   8/1/2023    USD     69.48
Mriya Agro Holding PLC     9.45  4/19/2018    USD      6.13
IMMOFINANZ AG              4.25   3/8/2018    EUR      4.45
ING Groep NV               0.25               EUR     57.82
Econocom Group SA/NV       1.50  1/15/2019    EUR     13.75
Etablissements Maurel e    1.63   7/1/2019    EUR     16.36
AXA SA                     1.77               USD     71.44
ADLER Real Estate AG       2.50  7/19/2021    EUR     14.99
Frigoglass Finance BV      8.25  5/15/2018    EUR     62.52
Banque Federative du Cr    0.65               EUR     54.97
AXA SA                     0.73               EUR     64.37
AXA SA                     0.47               EUR     62.13
Rothschilds Continuatio    1.19               USD     43.83
DTEK Finance PLC           7.88   4/4/2018    USD     65.20
Barclays Bank PLC          1.25               USD     69.75
Johnston Press Bond Plc    8.63   6/1/2019    GBP     61.00
CNP Assurances             0.36               EUR     51.55
Ageasfinlux SA             1.05               EUR     47.75
Financiere Quick SAS       7.21 10/15/2019    EUR     67.08
Banco Espirito Santo SA    4.75  1/15/2018    EUR     22.50
Nordea Bank Norge ASA      1.13               USD     59.85
KTG Agrar SE               7.25 10/15/2019    EUR      1.77
Intelsat Luxembourg SA     6.75   6/1/2018    USD     67.00
Societe Generale SA        1.06               USD     62.75
Rothschilds Continuatio    0.54               EUR     49.11
Yuksel Insaat AS           9.50 11/10/2015    USD     35.88
Neopost SA                 3.38               EUR     47.16
WPE International Coope   10.38  9/30/2020    USD     14.25
Banco Espirito Santo SA    7.13 11/28/2023    EUR      0.28
AXA SA                     1.43               USD     71.00
Pacific Drilling SA        5.38   6/1/2020    USD     28.13
HSH Nordbank AG            7.25               USD     26.54
Banca Monte dei Paschi     0.71  1/15/2018    EUR     63.89
CHC Helicopter SA          9.25 10/15/2020    USD     49.50
Intelsat Jackson Holdin    7.50   4/1/2021    USD     74.58
UkrLandFarming PLC        10.88  3/26/2018    USD     30.00
Solstad Offshore ASA       4.57  6/24/2019    NOK     60.88
Algeco Scotsman Global    10.75 10/15/2019    USD     59.96
Assystem                   4.50               EUR     29.68
Abengoa Finance SA         8.88  11/1/2017    USD      8.25
DTEK Finance PLC          10.38  3/28/2018    USD     65.15
BNP Paribas SA             0.99               USD     59.77
CEVA Group PLC             9.00   9/1/2021    USD     67.00
BNP Paribas SA             1.15               EUR     52.17
Aegon NV                   5.19               NLG     59.81
ING Groep NV               0.65               EUR     61.43
Barclays Bank PLC          1.19               USD     59.75
CGG SA                     6.88  1/15/2022    USD     49.94
Intelsat Luxembourg SA     8.13   6/1/2023    USD     31.25
BBVA International Pref    1.40               GBP     61.00
Capital Funding GmbH       2.09               EUR     68.00
Aegon NV                   4.26               NLG     71.25
Alno AG                    8.50  5/14/2018    EUR     48.50
Fred Olsen Energy ASA      4.06  2/28/2019    NOK     30.13
Takko Luxembourg 2 SCA     9.88  4/15/2019    EUR     57.52
Danske Bank Oyj            0.66               EUR     52.00
Bibby Offshore Services    7.50  6/15/2021    GBP     65.09
Nexity SA                  0.13   1/1/2023    EUR     67.97
Aegon NV                   1.51               NLG     55.00
DNB Bank ASA               1.38               USD     58.38
Immigon Portfolioabbau    10.00               EUR      3.42
HSBC Bank PLC              1.04               USD     66.61
Sapinda Invest SARL        5.00  6/30/2019    EUR     67.00
Santander Finance Prefe    0.61               EUR     52.00
European Directories Bo    7.00  12/9/2018    EUR     51.75
ATF Capital BV            10.00               USD     63.38
Union Fenosa Preferente    1.37               EUR     73.17
National Westminster Ba    1.50               USD     67.00
Transcapitalbank JSC Vi   10.00  9/18/2020    USD     73.00
VistaJet Malta Finance     7.75   6/1/2020    USD     43.75
Abengoa Finance SA         7.75   2/1/2020    USD      3.97
Scandinavian Airlines S    0.63               CHF     26.13
EnQuest PLC                7.00  4/15/2022    USD     49.25
NIBC Bank NV               0.66               EUR     47.44
Co-Operative Bank PLC/U    8.50   7/1/2025    GBP     73.07
Novo Banco SA              3.50   1/2/2043    EUR     48.41
Credit Mutuel Arkea SA     0.44               EUR     49.48
Jyske Bank A/S             0.49               EUR     52.38
DNB Bank ASA               1.13               USD     58.38
Ichor Coal NV              8.00   6/7/2017    EUR     69.43
OGX Austria GmbH           8.50   6/1/2018    USD      0.03
Pierre & Vacances SA       3.50  10/1/2019    EUR     40.33
OSX 3 Leasing BV          13.00  3/20/2015    USD     22.88
Fuerstenberg Capital Er    1.45               EUR     55.38
Hema Bondco II BV          8.50 12/15/2019    EUR     48.01
Bluewater Holding BV      10.00 12/10/2019    USD     44.00
Virgolino de Oliveira F   10.50  1/28/2018    USD      6.51
Oi Brasil Holdings Coop    5.75  2/10/2022    USD     23.93
Privatbank CJSC Via UK    11.00   2/9/2021    USD     62.50
Etablissements Maurel e    2.75   7/1/2021    EUR     10.58
Greene King Finance PLC    2.46  3/15/2036    GBP     69.70
Banca Monte dei Paschi     3.01 10/31/2018    EUR     63.08
German Pellets GmbH        7.25 11/27/2019    EUR      0.87
CGG SA                     1.25   1/1/2019    EUR     21.72
Far East Capital Ltd SA    8.75   5/2/2020    USD     46.00
Banco Espirito Santo SA    2.36               EUR      0.33
Hema Bondco I BV           5.25  6/15/2019    EUR     72.73
Mitchells & Butlers Fin    0.98 12/15/2033    GBP     71.67
Paragon Offshore PLC       6.75  7/15/2022    USD     28.25
DOF Subsea AS              6.02  5/22/2018    NOK     72.00
Caixa Terrassa Societat    0.41               EUR     51.00
Afren PLC                  6.63  12/9/2020    USD      0.07
Ekosem-Agrar GmbH          8.50  12/7/2022    EUR     56.63
Caisse Federale du Cred    0.70               EUR     50.37
Hypo Tirol Bank AG         0.17  7/23/2026    EUR     70.38
BIM SAS                    2.50 11/13/2020    EUR     26.54
syncreon Group BV / syn    8.63  11/1/2021    USD     75.25
DNB Bank ASA               1.39               USD     58.35
Abengoa SA                 6.25  1/17/2019    EUR      4.12
BPCE SA                    0.29               EUR     50.40
Banca Carige SpA           8.34               EUR     61.38
Societe Generale SA        0.81               EUR     49.00
Bank of Scotland PLC       1.25               USD     66.52
Matalan Finance PLC        8.88   6/1/2020    GBP     65.28
SOITEC                     6.75  9/18/2018    EUR      2.49
Espirito Santo Financia    3.13  12/2/2018    EUR      0.40
Ekosem-Agrar GmbH          8.75  3/23/2021    EUR     59.75
Heta Asset Resolution A    5.92 12/31/2023    EUR     41.75
Jyske Bank A/S             0.53               EUR     50.75
Paragon Offshore PLC       7.25  8/15/2024    USD     28.00
Banco Bilbao Vizcaya Ar    1.00               EUR     69.67
Waste Italia SpA          10.50 11/15/2019    EUR     29.63
German Pellets GmbH        7.25   7/9/2018    EUR      0.99
Norske Skog Holding AS     8.00  2/24/2021    EUR     39.54
Lambay Capital Securiti    6.25               GBP      1.06
Steilmann SE               7.00  9/23/2018    EUR      4.52
E Forland AS               7.84   9/4/2018    NOK     62.63
Mriya Agro Holding PLC    10.95  3/30/2016    USD      5.75
Sequa Petroleum NV         5.00  4/29/2020    USD     65.29
Eurobank Ergasias SA       1.30   6/8/2017    EUR     70.88
NIBC Bank NV               1.84               USD     54.69
Novo Banco SA              5.00  5/14/2019    EUR     70.06
Afren PLC                 11.50   2/1/2016    USD      0.06
NTRP Via Interpipe Ltd    10.25   8/2/2017    USD     26.01
Afren PLC                 10.25   4/8/2019    USD      0.08
Virgolino de Oliveira F   11.75   2/9/2022    USD      6.25
Cofinoga Funding Two LP    1.52               EUR     67.00
Abengoa Greenfield SA      6.50  10/1/2019    USD      8.25
Cattles Ltd                7.13   7/5/2017    GBP      1.05
CHC Helicopter SA          9.38   6/1/2021    USD     19.50
BOA OCV AS                 6.75  10/7/2019    NOK     49.25
Novo Banco SA              3.00  6/21/2022    USD     63.01
Espirito Santo Financia    6.88 10/21/2019    EUR      0.05
Phones4u Finance PLC       9.50   4/1/2018    GBP     55.75
Cooperatieve Rabobank U    0.50 11/26/2021    ZAR     63.56
Banco Santander SA         0.80               EUR     51.43
Immigon Portfolioabbau     5.00   9/7/2020    EUR      4.50
Enterprise Holdings LTD    7.00  3/30/2020    EUR     22.63
Abengoa Finance SA         8.88  11/1/2017    USD      4.75
Phosphorus Holdco PLC     10.00   4/1/2019    GBP      2.57
Novo Banco SA              5.00   4/4/2019    EUR     69.79
LBI HF                     6.10  8/25/2011    USD     11.50
Candyking Holding AB       5.00  1/29/2018    SEK     38.00
Touax SA                   6.00  7/10/2020    EUR     18.03
Sanha GmbH & Co KG         7.75   6/4/2018    EUR     57.88
Heta Asset Resolution A    0.46 12/31/2023    EUR     41.50
Travel24.com AG            7.50  9/17/2017    EUR     35.00
Norske Skogindustrier A    2.00 12/30/2115    EUR     15.00
Novo Banco SA              5.00  2/24/2022    EUR     67.36
Action SA                  3.19   7/4/2017    PLN     66.48
Dexia SA                   4.89               EUR      3.11
Pescanova SA               5.13  4/20/2017    EUR      2.17
International Industria    9.00   7/6/2011    EUR      0.45
Bank Nadra via NDR Fina    8.25  7/31/2018    USD      1.37
BLT Finance BV             7.50  5/15/2014    USD      2.26
Solor Bioenergi Holding    6.25  11/2/2017    NOK     52.50
Pescanova SA               8.75  2/17/2019    EUR      2.23
IKB Deutsche Industrieb    5.63  3/31/2017    EUR     25.38
Elli Investments Ltd      12.25  6/15/2020    GBP     29.63
Mitchells & Butlers Fin    2.51  6/15/2036    GBP     72.36
Bremer Landesbank Kredi    8.50               EUR     63.50
Credit Lyonnais SA         1.81               EUR     50.02
Lloyds Bank PLC            1.19               USD     66.38
Dexia Credit Local SA      1.43               EUR      2.47
Enterprise Holdings LTD    7.00  9/26/2017    EUR     30.63
Hybrid Raising GmbH        6.63               EUR     17.25
National Westminster Ba    1.13               USD     63.75
Lloyds Bank PLC            1.37 11/27/2033    USD     92.45
ESFIL-Espirito Santo Fi    5.25  6/12/2015    EUR      0.37
Laurel GmbH                7.13 11/16/2017    EUR     22.50
Petrol AD                  8.38  1/26/2017    EUR     27.50
Tonon Luxembourg SA       10.50  5/14/2024    USD     42.25
Deutsche Bank AG/London    0.59  3/15/2033    USD     61.40
Praktiker AG               5.88  2/10/2016    EUR      0.12
Aralco Finance SA         10.13   5/7/2020    USD      1.76
Oceanteam ASA             11.96 10/24/2017    USD     48.75
Novo Banco SA              5.00  3/15/2022    EUR     67.25
Banco Espirito Santo SA    6.88  7/15/2016    EUR     20.63
Royal Bank of Scotland     1.19               USD     68.50
Banca Monte dei Paschi     7.00   3/4/2019    EUR     65.00
Virgolino de Oliveira F   10.88  1/13/2020    USD     19.38
TGC-2 OJSC                12.00 10/10/2018    RUB     70.06
Havila Shipping ASA        9.58  8/30/2017    NOK     19.00
Strenesse AG               9.00  3/15/2017    EUR     23.00
Hellenic Republic Gover    6.14  4/14/2028    EUR     72.88
Sydbank A/S                0.77               EUR     50.75
OP Corporate Bank plc      0.61               EUR     50.35
Banca delle Marche SpA     0.65   6/1/2017    EUR      1.00
Vneshprombank Ltd via V    9.00 11/14/2016    USD      0.16
Heta Asset Resolution A    4.35 12/31/2023    EUR     41.75
Ausy                       3.25   1/1/2021    EUR     60.52
Argon Capital PLC for R    2.89               GBP     75.00
Manchester Building Soc    6.75               GBP     28.38
Tonon Luxembourg SA        7.25  1/24/2020    USD     10.50
Solarworld AG              6.13  1/21/2017    EUR     42.63
Portugal Telecom Intern    5.24  11/6/2017    EUR     23.13
Paragon Offshore PLC       7.25  8/15/2024    USD     28.50
Ajecorp BV                 6.50  5/14/2022    USD     54.41
Deutsche Bank AG/London    2.64  6/30/2034    USD     68.52
International Industria   11.00  2/19/2013    USD      0.45
Steilmann SE               6.75  6/27/2017    EUR      4.44
Abengoa Greenfield SA      6.50  10/1/2019    USD      5.25
JZ Capital Partners Ltd    6.00  7/30/2021    GBP     10.50
Alpine Holding GmbH        6.00  5/22/2017    EUR      0.63
Lloyds Bank PLC            0.44  2/22/2033    USD     60.00
Beate Uhse AG              7.75   7/9/2019    EUR     25.13
Island Drilling Co ASA     9.50   4/3/2018    USD      5.00
Viking Supply Ships AS     9.34  3/21/2017    NOK     30.25
OGX Austria GmbH           8.38   4/1/2022    USD      0.01
SNS Bank NV                6.25 10/26/2020    EUR      2.49
Royal Bank of Scotland     0.71 11/16/2030    USD     78.51
LBI HF                     6.25               EUR      0.00
Lehman Brothers UK Capi    5.13               EUR      0.25
Alcatel-Lucent SA          0.13  1/30/2020    EUR      4.49
National Westminster Ba    1.38               USD     58.75
Koninklijke Luchtvaart     0.75               CHF     36.50
Abengoa Finance SA         7.75   2/1/2020    USD      6.35
SNS Bank NV               11.25               EUR      0.79
Novo Banco SA              5.00  5/21/2019    EUR     69.77
Cooperatieve Rabobank U    0.50  1/31/2033    MXN     28.30
Corporate Commercial Ba    8.25   8/8/2014    USD      0.70
Lloyds Bank PLC            0.71  1/31/2033    USD     61.62
GNB - Cia de Seguros de    3.20               EUR     55.88
Immigon Portfolioabbau     7.00  7/24/2022    EUR     35.00
Iona Energy Co UK PLC     12.50  9/27/2018    USD      3.86
Sydbank A/S                0.80               EUR     75.00
BOA Offshore AS            7.83 12/18/2018    NOK     35.00
Manchester Building Soc    8.00               GBP     39.50
Lloyds Bank PLC            0.85  2/26/2033    USD     74.00
Sankt-Peterburg Telecom   10.70  1/31/2022    RUB     61.17
Golden Gate AG             6.50 10/11/2014    EUR     49.00
Lloyds Bank PLC            1.33               USD     66.25
Smart Solutions GmbH       8.00  12/3/2018    EUR     21.00
Farstad Shipping ASA       4.46  5/29/2018    NOK     38.63
Deutsche Bank AG/London    0.77  8/28/2034    USD     65.88
Hellenic Republic Gover    5.20  7/17/2034    EUR     63.75
Dexia Kommunalbank Deut    4.88 12/31/2016    EUR     37.50
Northland Resources AB     4.00 10/15/2020    USD      0.01
OT-Optima Telekom DD       5.25  5/30/2022    HRK     65.00
Cirio Holding Luxembour    6.25  2/16/2004    EUR      1.33
Novo Banco SA              5.00  5/23/2019    EUR     69.57
Brunswick Rail Finance     6.50  11/1/2017    USD     53.71
GNB - Cia de Seguros de    1.90 12/19/2022    EUR     60.25
Belfius Bank SA/NV         1.73               FRF     69.63
Windreich GmbH             6.50  7/15/2016    EUR     10.88
Societe Alsacienne et L    1.63   1/1/2022    EUR     61.08
Geotech Seismic Service   10.50 10/17/2018    RUB     69.77
Santander Finance Capit    2.00               EUR     41.38
Espirito Santo Financia    9.75 12/19/2025    EUR      0.66
Windreich GmbH             6.50   3/1/2015    EUR     10.88
Santander Finance Capit    2.00               USD     41.50
Banco Espirito Santo SA    1.25  5/27/2018    EUR      0.37
Vseukrainsky Aktsinerny   10.90  6/14/2019    USD      1.06
Eidesvik Offshore ASA      5.58  5/22/2018    NOK     69.00
Breeze Finance SA          6.71  4/19/2027    EUR     26.50
Farstad Shipping ASA       5.32  2/15/2017    NOK     45.75
Sidetur Finance BV        10.00  4/20/2016    USD      5.25
Talvivaara Mining Co PL    9.75   4/4/2017    EUR      0.67
Olympic Ship AS            7.29  9/21/2017    NOK     32.00
Electromagnetic Geoserv    7.07  6/27/2019    NOK     44.38
Commerzbank Holdings UK    1.38               USD     65.16
German Pellets GmbH        7.25   4/1/2016    EUR      0.93
Ideal Standard Internat   11.75   5/1/2018    EUR     14.63
Barclays Bank PLC          0.69  2/25/2031    USD     73.00
Danske Bank Oyj            1.30               EUR     53.38
Far Eastern Shipping Co   14.00 11/28/2017    RUB     70.10
Barclays Bank PLC          1.28  5/31/2033    USD     65.60
IGas Energy PLC           10.00 12/11/2018    USD     31.50
SeaBird Exploration Fin    6.00   3/3/2018    USD     18.38
Popular Capital SA         0.53               EUR     45.75
Offshore Drilling Holdi    8.38  9/20/2020    USD     55.88
Sazka AS                   9.00  7/12/2021    EUR      0.54
Takko Luxembourg 2 SCA     6.71  4/15/2019    EUR     49.52
Pacific Drilling SA        5.38   6/1/2020    USD     29.50
Svensk Exportkredit AB     0.50  6/20/2029    AUD     74.44
Teksid Aluminum Luxembo   11.38  7/15/2011    EUR      1.99
Abengoa SA                 4.50   2/3/2017    EUR      7.13
Banca Carige SpA           1.72 12/29/2018    EUR     50.50
Sairgroup Finance BV       4.38   6/8/2006    EUR     18.88
EFG International AG       0.85               EUR     63.00
Autonomous Community of    1.10   9/8/2024    EUR     72.54
Novo Banco SA              3.50  1/23/2043    EUR     48.53
Lloyds Bank PLC            1.00               USD     66.20
UniCredit Bank Austria     0.18 12/27/2031    EUR     65.13
Nexity SA                  0.63   1/1/2020    EUR     55.65
Eniro AB                   6.00  4/14/2020    SEK     23.86
Cirio Finanziaria SpA      8.00 12/21/2005    EUR      5.63
Finance and Credit Bank    9.25  1/25/2019    USD      0.37
Lehman Brothers UK Capi    5.75               EUR      0.04
Lehman Brothers Treasur    6.00  11/2/2035    EUR     11.88
Kaupthing ehf              7.63  2/28/2015    USD     17.63
DOF ASA                    8.08  9/12/2019    NOK     40.13
Hellas Telecommunicatio    8.50 10/15/2013    EUR      0.00
Olympic Ship AS            6.08  6/18/2019    NOK     27.00
Banco Pinto & Sotto May    0.75               EUR     20.00
Novo Banco SA              3.50  2/19/2043    EUR     48.48
IT Holding Finance SA      9.88 11/15/2012    EUR      0.23
Cooperatieve Rabobank U    0.50  7/30/2043    MXN     15.87
Cirio Finance Luxembour    7.50  11/3/2002    EUR      9.60
Capital Raising GmbH       7.50               EUR     17.50
Steilmann SE               7.00   3/9/2017    EUR      4.52
Heta Asset Resolution A    5.73 12/31/2023    EUR     39.75
Region of Abruzzo Italy    0.24  11/7/2036    EUR     60.27
Rena GmbH                  7.00 12/15/2015    EUR      8.63
Talvivaara Mining Co PL    4.00 12/16/2015    EUR      0.18
PA Resources AB            3.00 12/27/2017    NOK      0.23
Orient Express Bank PJS   12.00  5/29/2019    USD     55.00
Standard Chartered PLC     1.25               USD     63.33
Brighthouse Group PLC      7.88  5/15/2018    GBP     58.88
Gebr Sanders GmbH & Co     8.75 10/22/2018    EUR     58.75
Santander Finance Capit    2.00               USD     41.50
Cirio Del Monte NV         7.75  3/14/2005    EUR      6.25
Mobylife Holding A/S       7.25  5/23/2018    SEK     67.75
Lehman Brothers Treasur    6.00  2/15/2035    EUR     11.88
PA Resources AB           13.50   3/3/2016    SEK      0.11
World Wide Supply AS       7.75  5/26/2017    USD     10.00
Standard Chartered PLC     1.21               USD     63.17
Abanka Vipa DD Via Afin    1.60               EUR      0.47
Havila Shipping ASA        8.60  3/30/2017    NOK     39.88
Volstad Shipping AS        7.06  4/15/2019    NOK     25.00
Santander Finance Capit    2.00               EUR     41.38
Dannemora Mineral AB      11.75  3/22/2016    USD      0.92
Hellenic Republic Gover    2.09  7/25/2057    EUR     29.75
Alpine Holding GmbH        5.25  6/10/2016    EUR      0.63
CNP Assurances             2.00               EUR     63.99
Rena GmbH                  8.25  7/11/2018    EUR      8.63
Barclays Bank PLC          0.84  3/21/2033    USD     65.95
Uppfinnaren 1 AB          10.00               SEK     65.38
BNP Paribas SA             0.66  4/30/2033    USD     58.39
Far East Capital Ltd SA    8.00   5/2/2018    USD     45.00
Bremer Landesbank Kredi    9.50               EUR     71.38
Lehman Brothers Treasur    7.25  10/5/2035    EUR      9.63
QGOG Constellation SA      6.25  11/9/2019    USD     43.93
Credit Suisse AG/Guerns    0.94               USD     58.00
Cooperatieve Rabobank U    0.50 10/30/2043    MXN     15.89
Immigon Portfolioabbau     7.00   3/6/2021    EUR     33.50
Grupo Isolux Corsan Fin    6.63  4/15/2021    EUR     17.50
CRC Breeze Finance SA      6.11   5/8/2026    EUR     52.63
Norske Skogindustrier A    7.13 10/15/2033    USD     23.50
Northland Resources AB     4.00 10/15/2020    NOK      0.01
Banco Espirito Santo SA    6.90  6/28/2024    EUR     20.25
CGG SA                     6.88  1/15/2022    USD     49.88
EDOB Abwicklungs AG        7.50   4/1/2012    EUR      0.25
DEIKON GmbH                1.00 11/16/2016    EUR     28.01
Frey                       6.00 11/15/2022    EUR     22.50
Activa Resources AG        8.00 11/15/2017    EUR     12.50
Afren PLC                  6.63  12/9/2020    USD      0.06
getgoods.de AG             7.75  10/2/2017    EUR      0.03
Deutsche Bank AG/London    0.46  1/31/2033    USD     64.01
IVG Immobilien AG          5.55               EUR      0.37
UkrLandFarming PLC        10.88  3/26/2018    USD     29.50
AKB Finprombank PAO       14.00  10/2/2018    RUB      9.43
Virgolino de Oliveira F   10.50  1/28/2018    USD      6.38
Norske Skog Holding AS     8.00  2/24/2023    USD     38.50
IKB Deutsche Industrieb    4.70  3/31/2017    EUR     26.85
Standard Chartered PLC     0.75               GBP     60.19
PNE Wind AG                3.75 10/10/2019    EUR      2.94
MegaFon PJSC               9.95   5/9/2019    RUB     61.33
Oi Brasil Holdings Coop    5.63  6/22/2021    EUR     23.52
Singulus Technologies A    7.75  3/23/2017    EUR     39.75
Norske Skogindustrier A    7.13 10/15/2033    USD     23.50
Tonon Luxembourg SA       10.50  5/14/2024    USD     40.13
Societe Generale SA        9.50  5/21/2018    USD     56.80
Algeco Scotsman Global    10.75 10/15/2019    USD     59.72
AgroGeneration             8.00   4/1/2019    EUR     74.11
Sberbank of Russia PJSC   12.27   1/2/2026    RUB     60.03
RENE LEZARD Mode GmbH      7.25 11/25/2017    EUR     28.56
Havila Shipping ASA        4.87  11/8/2016    NOK     39.75
Heta Asset Resolution A    4.88 12/31/2023    EUR     42.75
Barclays Bank PLC          1.70  4/19/2033    USD     65.25
Nationwide Building Soc    0.90               GBP     70.00
Abengoa SA                 5.13   3/5/2017    USD      3.62
Waste Italia SpA          10.50 11/15/2019    EUR     29.63
Kaupthing ehf              5.75  10/4/2011    USD     17.63
Cooperatieve Rabobank U    0.50 10/29/2027    MXN     43.49
Novo Banco SA              3.50  3/18/2043    EUR     48.48
Atari SA                   7.50  2/17/2020    EUR      0.30
Assystem                   4.00   1/1/2017    EUR     24.82
Banco Espirito Santo SA   10.00  12/6/2021    EUR      0.37
Far East Capital Ltd SA    8.75   5/2/2020    USD     45.38
Accentro Real Estate AG    6.25  3/27/2019    EUR      6.70
Gazprom Neft PJSC          9.80   5/3/2046    RUB     61.03
Lehman Brothers Treasur    8.25  3/16/2035    EUR     11.88
Agroton Public Ltd         6.00  7/14/2019    USD     10.00
Mriya Agro Holding PLC     9.45  4/19/2018    USD      6.13
Gol LuxCo SA               8.88  1/24/2022    USD     63.63
Italy Government Intern    0.18  7/31/2045    EUR     73.98
Veneto Banca SpA           6.95  2/25/2025    EUR     55.13
IM Skaugen SE              9.98  4/11/2017    NOK     36.75
Kaupthing ehf              5.75  10/4/2011    USD     17.63
Aldesa Financial Servic    7.25   4/1/2021    EUR     68.25
Norske Skog Holding AS     8.00  2/24/2021    EUR     40.13
Cooperatieve Rabobank U    0.50 11/30/2027    MXN     43.44
Russian Post FGUP         12.00 10/18/2019    RUB     60.26
Heta Asset Resolution A    7.50 12/31/2023    ATS     31.70
Bibby Offshore Services    7.50  6/15/2021    GBP     65.50
Pescanova SA               6.75   3/5/2015    EUR      2.29
ADLER Real Estate AG       6.00  6/30/2017    EUR     13.50
Alfa-Bank AO               9.75  7/24/2031    RUB     60.66
Minicentrales Dos SA       4.81 11/29/2034    EUR     65.75
INVEST-DEVELOPMENT PJSC   15.00   4/2/2026    RUB     60.36
Western Bulk Chartering    7.76  4/19/2019    NOK     71.63
Tonon Luxembourg SA        7.25  1/24/2020    USD     10.50
OAS Investments GmbH       8.25 10/19/2019    USD      4.56
HPI AG                     3.50               EUR      8.88
Transneft PJSC             9.45   8/3/2023    RUB     60.88
CEVA Group PLC             9.00   9/1/2021    USD     67.00
Immigon Portfolioabbau     7.00   3/8/2021    EUR     35.00
OGX Austria GmbH           8.50   6/1/2018    USD      0.03
Mox Telecom AG             7.25  11/2/2017    EUR      3.01
Barclays Bank PLC          1.73 11/29/2030    USD     73.84
Finmek International SA    7.00  12/3/2004    EUR      0.13
Paragon Offshore PLC       6.75  7/15/2022    USD     28.75
Depfa Funding II LP        6.50               EUR     56.75
SAir Group                 0.13   7/7/2005    CHF     11.13
Bilt Paper BV              9.64               USD     46.88
Banco Espirito Santo SA    2.53               EUR     11.00
Region of Abruzzo Italy    0.08  11/7/2031    EUR     73.81
State of Carinthia         0.73  7/20/2017    CHF      0.20
LBI HF                     6.10  8/25/2011    USD     11.50
Del Monte Finance Luxem    6.63  5/24/2006    EUR      5.25
MS Deutschland Beteilig    6.88 12/18/2017    EUR      9.03
CGG SA                     5.88  5/15/2020    EUR     53.88
Solon SE                   1.38  12/6/2012    EUR      0.33
KPNQwest NV               10.00  3/15/2012    EUR      0.57
CSN Resources SA           6.50  7/21/2020    USD     65.51
Afren PLC                 10.25   4/8/2019    USD      0.07
Alpha Bank AE              1.40   2/1/2017    EUR     68.50
Immigon Portfolioabbau     6.00  3/30/2017    EUR     59.00
Municipality Finance PL    0.50 11/25/2020    ZAR     68.92
Norske Skog Holding AS     8.00  2/24/2023    USD     38.75
Heta Asset Resolution A    0.34 12/31/2023    EUR     41.75
Lehman Brothers Treasur    2.88  3/14/2013    CHF     11.88
More & More AG             8.13  6/11/2018    EUR     40.38
Indo Energy Finance II     6.38  1/24/2023    USD     70.95
Heta Asset Resolution A    0.16 12/31/2023    EUR     42.25
Alpine Holding GmbH        5.25   7/1/2015    EUR      0.63
Kaupthing ehf              6.13  10/4/2016    USD     17.63
Takko Luxembourg 2 SCA     9.88  4/15/2019    EUR     58.25
Lloyds Bank PLC            1.69  4/26/2033    USD     60.00
UniCredit Bank Austria     0.22  8/20/2033    EUR     63.75
Golden Energy Offshore     5.00 12/31/2017    NOK     26.00
Gunther Zamek Produktio    7.75  5/15/2017    EUR      1.55
Delta Credit Bank JSC     11.75  11/2/2016    RUB     60.55
Depfa Funding IV LP        5.03               EUR     56.00
Svensk Exportkredit AB     0.50  1/31/2022    ZAR     62.97
VistaJet Malta Finance     7.75   6/1/2020    USD     43.75
Kaupthing ehf              7.13  5/19/2016    USD      0.00
APP International Finan   11.75  10/1/2005    USD      0.56
Governo Portugues Conso    3.00               EUR     74.00
KPNQwest NV                8.88   2/1/2008    EUR      0.57
Abengoa Finance SA         8.88   2/5/2018    EUR      4.26
wige MEDIA AG              6.00  3/17/2019    EUR      2.00
Standard Chartered PLC     1.13               USD     61.50
Synergy PJSC              12.90  4/29/2020    RUB     60.88
Banca Popolare di Vicen    9.50  10/2/2025    EUR     63.88
Kommunekredit              0.50  2/20/2020    BRL     72.31
LBI HF                     2.25  2/14/2011    CHF      7.75
UniCredit Bank Austria     0.22 12/31/2031    EUR     67.13
Northland Resources AB    15.00  7/15/2019    USD      0.10
Lehman Brothers Treasur    5.10   5/8/2017    HKD      9.63
Blaker Sparebank           4.77               NOK     53.20
Novo Banco SA              3.00 12/16/2021    EUR     55.50
Hellenic Republic Gover    2.27   2/7/2022    EUR     72.76
Lehman Brothers Treasur    1.75   2/7/2010    EUR      0.85
Hema Bondco II BV          8.50 12/15/2019    EUR     48.25
Sairgroup Finance BV       6.63  10/6/2010    EUR     20.00
Immigon Portfolioabbau     1.31  7/29/2018    EUR      2.00
Banco Pastor SA            2.10               EUR     29.63
Hema Bondco I BV           5.25  6/15/2019    EUR     73.13
KPNQwest NV                7.13   6/1/2009    EUR      0.56
Bulgaria Steel Finance    12.00   5/4/2013    EUR      1.09
Cooperativa Muratori &     7.50   8/1/2021    EUR     74.75
Virgolino de Oliveira F   10.88  1/13/2020    USD     19.38
NNK-Aktiv AO               0.01  7/21/2020    RUB     60.03
Phones4u Finance PLC       9.50   4/1/2018    GBP     55.75
Eximbank of Russia JSC    12.10 11/11/2025    RUB     60.56
Societe Generale SA        1.60   1/9/2020    GBP      1.10
Espirito Santo Financia    5.05 11/15/2025    EUR      0.06
Region of Piemont Italy    0.01 11/27/2036    EUR     61.31
Minaya Capital AG          7.00   8/1/2018    EUR     68.00
Orient Express Bank PJS   13.60   8/9/2018    RUB     59.01
Governo Portugues Conso    2.75               EUR     66.00
Polyus PJSC               12.10   7/3/2025    RUB     66.07
ECM Real Estate Investm    5.00  10/9/2011    EUR     10.38
Alpha Bank AE              1.35   3/8/2017    EUR     68.00
BLT Finance BV            12.00  2/10/2015    USD     10.50
Italy Government Intern    0.19  7/31/2045    EUR     74.45
Lehman Brothers Treasur    7.00  5/17/2035    EUR     11.88
Minicentrales Dos SA       6.45  4/14/2028    EUR     65.75
SiC Processing GmbH        7.13   3/1/2016    EUR      1.26
LBI HF                     4.65               EUR      0.00
Artea                      6.00   8/4/2019    EUR     14.81
syncreon Group BV / syn    8.63  11/1/2021    USD     75.00
Aralco Finance SA         10.13   5/7/2020    USD      1.76
Abengoa Greenfield SA      5.50  10/1/2019    EUR      4.23
Virgolino de Oliveira F   11.75   2/9/2022    USD      6.25
CHC Helicopter SA          9.25 10/15/2020    USD     49.00
CBo Territoria             6.00   1/1/2020    EUR      4.16
Kommunekredit              0.50 10/22/2019    BRL     74.66
SNS Bank NV                2.45               EUR      0.79
Credit Suisse AG/London    7.25 11/10/2016    CHF     67.79
Notenstein Finance Guer    1.00  9/17/2019    CHF     48.92
Mechel PJSC                8.00   2/9/2021    RUB     60.00
Veneto Banca SpA          10.00 10/22/2022    EUR     67.38
Abengoa SA                 6.25  1/17/2019    EUR      4.34
Autonomous Community of    2.97   9/8/2039    JPY     66.29
Lloyds Bank PLC            1.43  7/29/2033    USD     72.85
Financiere Quick SAS       7.21 10/15/2019    EUR     67.15
Johnston Press Bond Plc    8.63   6/1/2019    GBP     61.00
Dexia Kommunalbank Deut    5.63 12/31/2017    EUR     13.13
Finans-Avia OOO            8.25  7/31/2022    RUB     60.50
Rusfinans Bank OOO        13.90  4/24/2018    RUB     61.62
Phosphorus Holdco PLC     10.00   4/1/2019    GBP      2.57
friedola Gebr Holzapfel    7.25  4/11/2017    EUR      3.67
DTEK Finance PLC           7.88   4/4/2018    USD     63.18
Banco Comercial Portugu    5.00               EUR     42.05
Ekotechnika AG             9.75  5/10/2018    EUR      9.50
Nuova Banca Popolare de    1.72  9/28/2017    EUR      0.81
Afren PLC                 11.50   2/1/2016    USD      0.06
Sankt-Peterburg Telecom   10.70  1/31/2022    RUB     60.26
Portigon AG                7.46 12/31/2019    EUR     19.05
PagesJaunes Finance & C    8.88   6/1/2018    EUR     60.13
RZD Rasvytie vokzalov     12.50 10/21/2016    RUB     10.20
Societe Generale SA        0.14  2/28/2033    USD     73.50
Bank Nederlandse Gemeen    0.50  7/12/2022    ZAR     60.06
Kaupthing ehf              9.00               USD      0.13
Marine Subsea AS           9.00 12/16/2019    USD      0.50
SAir Group                 6.25  4/12/2005    CHF     12.13
BANIF - Banco Internaci    4.50  1/30/2025    EUR     65.63
Delta Credit Bank JSC      8.40 10/21/2023    RUB     60.15
Kaupthing ehf              6.13  10/4/2016    USD     17.63
WGF Westfaelische Grund    6.35  12/1/2016    EUR      1.75
Kommunalbanken AS          0.50  5/27/2022    ZAR     61.87
Lehman Brothers Treasur    5.00  9/22/2014    EUR     11.88
Lloyds Bank PLC            3.12  7/26/2033    USD     74.00
UmweltBank AG              2.85               EUR     47.24
Matalan Finance PLC        8.88   6/1/2020    GBP     65.50
Abengoa Finance SA         7.00  4/15/2020    EUR      4.19
La Veggia Finance SPA      7.13 11/14/2004    EUR      0.14
Mifa Mitteldeutsche Fah    7.50  8/12/2018    EUR      2.98
Standard Chartered PLC     1.21               USD     63.33
Montepio Holding SGPS S    5.00               EUR     50.15
OGX Austria GmbH           8.38   4/1/2022    USD      0.01
HSBC Bank PLC              0.50  6/10/2021    BRL     66.54
Petromena ASA             10.85 11/19/2014    USD      0.52
Banca Popolare di Vicen    5.00   6/4/2024    EUR     64.19
Frigoglass Finance BV      8.25  5/15/2018    EUR     62.63
Region of Molise Italy     0.24 12/15/2033    EUR     66.41
Lehman Brothers Treasur    1.28  11/6/2010    JPY     11.88
Stroika Finance Ltd Via    7.70  6/25/2019    RUB     12.00
Credit Suisse AG/London    8.55  1/30/2026    USD      9.53
Credit Suisse AG/Nassau    8.05  9/27/2016    CHF     65.76
Lehman Brothers Treasur    4.50   5/2/2017    EUR     11.88
MegaFon PJSC               9.90  5/29/2026    RUB     60.03
Dolomite Capital Ltd      13.26 12/20/2019    ZAR     62.40
Hamburgische Landesbank    0.08 10/30/2040    EUR     63.88
Hamburgische Landesbank    0.08  1/22/2041    EUR     61.45
City of Hunedoara Roman    1.43  8/15/2026    RON     70.00
Abengoa SA                 5.13   3/5/2017    USD      3.62
Lehman Brothers Treasur    5.25  5/26/2026    EUR      0.75
WPE International Coope   10.38  9/30/2020    USD     13.00
Heta Asset Resolution A    5.03 12/31/2023    EUR     39.63
ADLER Real Estate AG       6.00 12/27/2018    EUR     13.50
Astana Finance BV          7.88   6/8/2010    EUR     16.88
Lehman Brothers Treasur   16.20  5/14/2009    USD      0.75
Espirito Santo Financia    5.05 11/15/2025    EUR      0.42
Norddeutsche Landesbank    5.19 11/25/2016    EUR     55.57
Russian Railways JSC       9.85  4/26/2041    RUB     64.46
State Transport Leasing   14.30 12/10/2024    RUB     60.20
Landesbank Hessen-Thuer    0.19   5/3/2041    EUR     68.89
Veneto Banca SpA           6.94  5/15/2025    EUR     53.25
Lehman Brothers Treasur    1.00   5/9/2012    EUR      0.75
Lehman Brothers Treasur   11.00 12/20/2017    AUD      0.75
Lehman Brothers Treasur    4.00 10/24/2012    EUR      0.75
Lehman Brothers Treasur    6.00 10/30/2012    EUR      0.75
Sachsen Bank               0.10  1/22/2041    EUR     74.84
Lehman Brothers Treasur    3.03  1/31/2015    EUR      0.75
Barclays Bank PLC          1.82  6/17/2033    USD     70.00
Lehman Brothers Treasur    4.00  12/2/2012    EUR      0.75
SG Issuer SA               5.50  4/10/2021    EUR     64.74
Northland Resources AB    12.25  3/26/2016    USD      0.11
German Pellets GmbH        8.00               EUR      0.30
Heta Asset Resolution A    5.27 12/31/2023    EUR     34.38
Lehman Brothers Treasur    6.00  3/18/2015    USD     11.88
Lehman Brothers Treasur    5.55  3/12/2015    EUR      0.75
Rusfinans Bank OOO         9.95  8/22/2019    RUB     60.66
Salvator Grundbesitz-AG    9.50 12/31/2021    EUR     10.00
Espirito Santo Financia    5.13  5/30/2016    EUR      0.25
Banca Popolare di Vicen    4.97  4/20/2027    EUR     71.88
Abengoa Finance SA         6.00  3/31/2021    EUR      4.02
Heta Asset Resolution A    0.45 12/31/2023    EUR     40.13
Lehman Brothers Treasur    5.00  2/27/2014    EUR     11.88
Immigon Portfolioabbau     8.70  7/26/2025    EUR     15.00
Agentstvo po Ipotechnom    9.50 11/15/2024    RUB     73.13
Ideal Standard Internat   11.75   5/1/2018    EUR     14.63
Commerzbank AG             2.50  6/19/2017    USD     67.86
BNP Paribas SA             0.50  9/29/2029    AUD     63.91
DekaBank Deutsche Giroz    0.01  6/29/2046    EUR     62.05
BL Superstores Finance     1.41  10/4/2030    GBP     73.15
UniCredit Bank AG          4.85 12/22/2020    EUR     67.63
Podkarpacki Bank Spoldz    5.04  5/28/2023    PLN     46.00
BNP Paribas SA             0.50   5/6/2021    MXN     73.95
SG Option Europe SA        7.00   5/5/2017    EUR     50.34
Pongs & Zahn AG            8.50               EUR      0.36
Agrokompleks OOO          12.50  12/8/2022    RUB     66.87
Lehman Brothers Treasur    7.00   6/6/2017    EUR      0.75
Svensk Exportkredit AB     0.50  6/28/2022    ZAR     59.82
International Finance F    0.50  6/29/2027    ZAR     35.74
Oravita City Council       2.04  6/15/2027    RON     68.00
Alpha Bank AE              2.50  6/20/2022    EUR     66.93
Miratorg-Finans OOO       11.00  8/24/2021    RUB     60.03
Absolut Bank PAO          14.50 10/22/2021    RUB     60.06
HPI AG                     4.50  12/1/2016    EUR      3.01
SNS Bank NV                6.63  5/14/2018    EUR      2.49
Mriya Agro Holding PLC    10.95  3/30/2016    USD      5.88
Rosselkhozbank JSC        11.60  7/15/2025    RUB     60.66
Bank Nederlandse Gemeen    0.50   8/9/2022    MXN     67.98
Municipality Finance PL    0.50  6/19/2024    ZAR     50.74
United Engine Corp JSC     8.00  4/24/2020    RUB     60.03
Norddeutsche Landesbank    3.00  7/16/2018    EUR     62.22
Alno AG                    8.00  3/21/2019    EUR     74.00
KPNQwest NV                8.13   6/1/2009    USD      0.57
Barclays Bank PLC          1.76  4/25/2034    USD     71.75
Bayerische Landesbank      5.00 10/17/2016    EUR     36.98
Cooperatieve Rabobank U    0.50 12/29/2027    MXN     43.75
HSBC Bank PLC              0.50 12/22/2025    BRL     46.53
Bank Nederlandse Gemeen    0.50  9/20/2022    MXN     67.44
Barclays Bank PLC          1.14  3/21/2031    USD     75.00
UniCredit Bank AG          7.30  1/20/2017    EUR     61.29
Penell GmbH Elektrogros    7.75  6/10/2019    EUR      4.50
A-TEC Industries AG        5.75  11/2/2010    EUR      2.00
WEB Windenergie AG         6.50               EUR      0.05
Solarwatt GmbH             7.00  11/1/2015    EUR     14.50
Lehman Brothers Treasur    5.00  2/16/2015    EUR     11.88
Agentstvo po Ipotechnom   10.75   3/1/2033    RUB     62.15
Russian Railways JSC      13.90  5/30/2040    RUB     60.00
Western High-Speed Diam   10.44  5/13/2031    RUB     72.37
Nuova Banca Popolare de    5.00 10/30/2023    EUR      0.78
DEIKON GmbH                1.00   7/1/2016    EUR     26.15
Podkarpacki Bank Spoldz    5.79   7/2/2020    PLN     52.10
Russian Post FGUP         12.00 10/18/2019    RUB     64.12
Metalloinvest Holding C    0.01   3/7/2022    RUB     60.25
Alpha Bank AE              2.50  6/20/2022    EUR     66.95
Podkarpacki Bank Spoldz    4.94  10/6/2021    PLN     48.00
RESO-Garantia Insurance   12.00  9/13/2022    RUB     60.11
Kaupthing ehf              5.25  7/18/2017    BGN     17.63
World of Building Techn    7.70  6/25/2019    RUB      0.02
WEB Windenergie AG         4.00   4/8/2018    EUR      0.01
Credit Europe Bank Ltd     9.76  9/14/2018    RUB     62.30
Bank Julius Baer & Co L    6.30 11/24/2016    CHF     70.40
Mechel PJSC                8.00   2/9/2021    RUB     61.73
Bank Nederlandse Gemeen    0.50  5/12/2021    ZAR     67.65
Banca delle Marche SpA     6.00   5/8/2018    EUR      1.00
Landesbank Baden-Wuertt    3.25  1/26/2018    EUR     46.43
Barclays Bank PLC          3.24  5/14/2029    USD     73.70
Lehman Brothers Treasur    1.46  2/19/2012    JPY     11.88
Municipiul Timisoara       0.71  5/15/2026    RON     65.00
Barclays Bank PLC          0.50  4/24/2023    MXN     59.93
Hellas Telecommunicatio    8.50 10/15/2013    EUR      0.00
VEB-Leasing OAO           13.50  3/27/2017    RUB     60.77
Salvator Grundbesitz-AG    9.50               EUR     26.50
DEMIRE Real Estate AG      6.00 12/30/2018    EUR      3.40
Lehman Brothers Treasur    5.00   5/2/2022    EUR      0.75
Rosselkhozbank JSC        11.60  7/11/2025    RUB     60.25
Russian Railways JSC      13.90  2/28/2040    RUB     60.03
Barclays Bank PLC          0.50  3/19/2021    MXN     71.64
Leonteq Securities AG/G    5.00  1/20/2020    CHF     61.85
UniCredit Bank Austria     0.19 10/31/2031    EUR     68.38
Barclays Bank PLC          1.48  7/28/2034    USD     72.65
MirLand Development Cor    6.00 11/30/2017    ILS     23.00
Bank Julius Baer & Co L    5.50 11/24/2016    CHF     69.35
SAG Solarstrom AG          7.50  7/10/2017    EUR     28.50
Union Technologies Info    0.10   1/1/2020    EUR      5.30
Svensk Exportkredit AB     0.50  8/28/2020    TRY     68.93
Lehman Brothers Treasur    5.00  8/16/2017    EUR     11.88
Elli Investments Ltd      12.25  6/15/2020    GBP     29.63
Credit Agricole Corpora    0.50   3/6/2023    RUB     58.80
Rusfinans Bank OOO        12.10  9/29/2020    RUB     60.88
Barclays Bank PLC          2.82  9/30/2031    USD     74.50
Lehman Brothers Treasur    6.65  8/24/2011    AUD      9.63
LBI HF                     3.00  12/7/2010    CHF      7.75
Bank ZENIT PJSC           11.50   4/3/2026    RUB     60.10
Fonciere Volta SA          4.50  7/30/2020    EUR      2.66
HSBC Bank PLC              0.50 12/29/2026    AUD     68.49
Podkarpacki Bank Spoldz    5.74  3/31/2025    PLN     42.00
Rosbank PJSC               0.04  4/30/2024    RUB     60.06
Vnesheconombank           11.60  2/17/2025    RUB     60.10
Raiffeisen Centrobank A    6.70  3/13/2017    EUR     53.85
WGF Westfaelische Grund    6.35   8/1/2017    EUR      3.81
Province of Rovigo Ital    0.08 12/28/2035    EUR     66.21
United Engine Corp JSC     8.80  4/17/2023    RUB     60.03
Province of Milan Italy    0.07 12/22/2033    EUR     68.96
Europlan PJSC             11.50  8/23/2021    RUB     60.66
Windreich GmbH             6.75   3/1/2015    EUR     10.88
TransFin-M PAO            12.50  2/21/2017    RUB     68.90
Finans-Avia OOO            0.01  7/31/2027    RUB     15.05
Russian Post FGUP          2.75  12/6/2023    RUB     60.03
City of Hunedoara Roman    1.43  8/15/2026    RON     70.00
SpareBank 1 SR-Bank ASA    4.00 12/21/2030    EUR     71.44
Lehman Brothers Treasur    4.68 12/12/2045    EUR      0.75
COFIDUR SA                 0.10 12/31/2024    EUR     17.90
Lehman Brothers Treasur    6.00  9/20/2011    EUR      0.75
Lenta Center OOO          11.00 10/14/2020    RUB     62.29
Landesbank Hessen-Thuer    0.20  4/23/2041    EUR     72.67
CHC Helicopter SA          9.25 10/15/2020    USD     49.00
Immigon Portfolioabbau     3.51  4/12/2022    EUR     15.00
City of Predeal Romania    1.50  5/15/2026    RON     60.00
Atomenergoprom JSC        11.10 12/12/2025    RUB     60.03
SAir Group                 6.25 10/27/2002    CHF     12.13
Deutsche Bank AG/London    0.50  10/5/2021    IDR     62.96
Biomed-Lublin Wytwornia    7.29  8/14/2018    PLN     66.20
BLT Finance BV             7.50  5/15/2014    USD      2.26
Driver & Bengsch AG        8.50 12/31/2027    EUR      0.00
Nuova Banca Popolare de    4.25 10/30/2016    EUR      0.78
City of Alba Iulia Roma    1.50  4/15/2025    RON     70.00
Kommunekredit              0.50 12/14/2020    ZAR     70.35
Windreich GmbH             6.25   3/1/2015    EUR     10.88
Nikrom Tubular furnitur    7.25  3/20/2017    EUR
SAir Group                 4.25   2/2/2007    CHF     13.00
BNP Paribas SA             0.50  7/20/2021    BRL     58.26
Metalloinvest Holding C   11.90  2/12/2026    RUB     60.03
Astana Finance BV          9.00 11/16/2011    USD     16.88
Muehl Product & Service    6.75  3/10/2005    DEM      2.16
Kommunekredit              0.50  7/30/2027    TRY     31.65
URALSIB Leasing Co OOO    10.50  4/17/2018    RUB      0.01
Kaupthing ehf              7.50   2/1/2045    USD      0.00
Lehman Brothers Treasur    4.00  2/16/2017    EUR     11.88
Nuova Banca Popolare de    3.50  6/28/2018    EUR      0.78
Investpro OOO             13.00 12/31/2018    RUB     60.40
Northland Resources AB    15.00  7/15/2019    USD      0.11
Norddeutsche Landesbank    3.75  10/5/2016    EUR     45.85
SAG Solarstrom AG          6.25 12/14/2015    EUR     28.50
Landesbank Hessen-Thuer    3.30 10/10/2016    EUR     66.40
Sviaz Bank OAO            12.00  4/13/2022    RUB     60.89
Vegarshei Sparebank        5.00               NOK     58.70
Kaupthing ehf              7.50  12/5/2014    ISK     17.63
Societe Generale SA        0.50  5/30/2023    MXN     62.54
Leonteq Securities AG     18.00  9/26/2016    CHF     18.71
Lehman Brothers Treasur   14.90 11/16/2010    EUR      0.75
UniCredit Bank Austria     0.05  1/25/2031    EUR     66.38
Deutsche ETP GmbH & Co     3.00 11/30/2028    EUR
Lehman Brothers Treasur    7.00 11/26/2013    EUR     11.88
Rossiysky Capital OJSC    10.50  1/16/2020    RUB     60.12
A-TEC Industries AG        8.75 10/27/2014    EUR      2.00
Municipality Finance PL    0.50   5/8/2029    AUD     68.17
Municipiul Timisoara       0.71  5/15/2026    RON     67.00
Royal Bank of Scotland     1.33 10/26/2018    GBP
HSBC Bank PLC              0.50  5/29/2020    IDR     74.69
Leonteq Securities AG/G   29.61 10/26/2017    EUR     11.53
Kerdos Group SA            8.00 12/15/2017    PLN
SAir Group                 2.13  11/4/2004    CHF     12.13
Metalloinvest Holding C    0.01   3/7/2022    RUB     60.25
Barclays Bank PLC          3.32  3/27/2029    USD     70.85
International Finance F    0.50  6/24/2024    ZAR     48.74
Svensk Exportkredit AB     0.50  4/24/2029    AUD     64.37
KPNQwest NV                7.13   6/1/2009    EUR      0.56
Lehman Brothers Treasur    4.00  4/13/2011    CHF      0.75
Lehman Brothers Treasur    5.00  5/12/2011    CHF      0.75
LBI HF                     7.43               USD      0.00
KPNQwest NV                8.88   2/1/2008    EUR      0.57
Immigon Portfolioabbau     8.70  7/26/2020    EUR     15.00
Baltic Financial Agency   12.50  9/27/2016    RUB     60.03
DekaBank Deutsche Giroz    2.75 11/26/2018    EUR     71.87
Main Road OJSC            15.30 10/30/2028    RUB     72.16
Svensk Exportkredit AB     0.50  2/22/2022    ZAR     61.42
Banque Cantonale Vaudoi    5.55  11/7/2016    CHF     65.84
Vnesheconombank            2.00  6/18/2021    RUB     71.85
Notenstein La Roche Pri    6.70  7/24/2017    EUR     62.67
Kaupthing ehf              7.13  5/19/2016    USD      0.00
MirLand Development Cor    7.21  5/31/2020    ILS     22.70
Soyuz AKB OAO             11.00 11/22/2019    RUB     60.06
Podkarpacki Bank Spoldz    5.79  2/23/2025    PLN     52.00
Metalloinvest Holding C    0.01  3/10/2022    RUB     65.33
Leonteq Securities AG      8.20  1/16/2017    CHF     65.32
Barclays Bank PLC          0.22  9/30/2025    USD     10.10
Steiermaerkische Bank u    1.25               EUR     55.72
Lehman Brothers Treasur    3.86  9/21/2011    SGD      9.63
Credit Suisse AG/Nassau    6.25 10/17/2016    EUR     46.84
CaixaBank SA               0.76   2/2/2037    USD     74.19
Lehman Brothers Treasur    4.00  7/27/2011    EUR      0.75
Enemona AD-Kozloduy       10.00  4/28/2017    BGN      0.03
United Engine Corp JSC    11.50  6/26/2024    RUB     60.03
Rusfinans Bank OOO        10.90  10/2/2018    RUB     60.77
Raiffeisenbank AO         11.35  6/11/2018    RUB     60.03
Takko Luxembourg 2 SCA     6.71  4/15/2019    EUR     49.67
Europlan PJSC             12.50  3/26/2019    RUB     60.80
UniCredit Bank AO         12.35  9/16/2020    RUB     63.06
Lehman Brothers Treasur    8.00  3/19/2012    USD      0.75
LBI HF                     7.43               USD      0.00
Cerruti Finance SA         6.50  7/26/2004    EUR      1.19
Lehman Brothers Treasur    8.25   2/3/2016    EUR      0.75
International Finance F    0.50  6/29/2020    ZAR     71.84
Province of Treviso Ita    0.05 12/31/2034    EUR     68.17
Lehman Brothers Treasur    5.00  3/18/2015    EUR     11.88
Agrokompleks OOO           0.10  7/29/2019    RUB     32.47
MirLand Development Cor    6.50  9/30/2019    ILS     22.00
Credit Suisse AG/London    1.64   6/1/2042    USD     52.65
Lehman Brothers Treasur    4.10  8/23/2010    USD      0.75
Exane Finance              2.70  9/26/2016    USD     38.80
Lehman Brothers Treasur    6.25 11/30/2012    EUR      0.75
Lehman Brothers Treasur    6.00  2/19/2023    USD      0.75
Leonteq Securities AG/G    5.99  9/11/2017    EUR     55.65
Credit Suisse AG/London    3.00 11/15/2025    ZAR     57.16
Sidetur Finance BV        10.00  4/20/2016    USD      5.25
Emova Group                4.30   5/2/2022    EUR      6.60
Atari SA                   0.10   4/1/2020    EUR      4.15
Bank VTB 24 JSC            3.00   9/1/2044    RUB     60.03
Immigon Portfolioabbau     4.20  2/22/2033    EUR     51.50
UniCredit Bank AG          4.30 10/17/2018    EUR     49.03
Lehman Brothers Treasur    2.00  6/28/2011    EUR      0.75
Lehman Brothers Treasur   10.00 10/23/2008    USD      0.75
Kaupthing ehf              9.75  9/10/2015    USD     17.63
KIT Finance Capital OOO   10.00 10/26/2016    RUB     60.15
UniCredit Bank AG          8.00  11/7/2016    EUR     44.53
Lehman Brothers Treasur   15.00  3/30/2011    EUR      0.75
Lehman Brothers Treasur    3.50  9/19/2017    EUR      0.75
Banco BPI SA/Cayman Isl    4.15 11/14/2035    EUR     74.50
Landesbank Baden-Wuertt    3.50  8/25/2017    EUR     69.73
HSBC Bank PLC              0.50  1/29/2027    NZD     68.71
Leonteq Securities AG     11.00  10/5/2016    CHF     58.50
UniCredit Bank AG          5.00  9/30/2016    EUR     37.36
UniCredit Bank AG          0.48 11/19/2029    EUR     69.63
Podkarpacki Bank Spoldz    5.74 10/24/2024    PLN
Nuova Banca delle March    7.75  6/30/2018    EUR      1.24
Bank MIA OAO              11.75  11/6/2016    RUB     60.26
Lehman Brothers Treasur    5.10  6/22/2046    EUR      0.75
Bank J Safra Sarasin AG    8.00   5/4/2017    CHF     70.59
Lehman Brothers Treasur    5.00 10/24/2008    CHF      0.75
Bank Julius Baer & Co L    9.00 10/24/2016    CHF     56.35
Immigon Portfolioabbau     0.70  5/20/2025    EUR     55.50
Neftyanoi Alyans OOO      15.00  6/15/2026    RUB     60.03
Espirito Santo Financia    5.63  7/28/2017    EUR      0.02
Cooperatieve Rabobank U    0.50  8/21/2028    MXN     41.45
A-TEC Industries AG        2.75  5/10/2014    EUR      2.00
Bank Nederlandse Gemeen    0.50   6/7/2022    ZAR     60.77
Immigon Portfolioabbau     4.21  1/25/2033    EUR     51.63
Credit Suisse AG/Nassau    7.50 11/28/2016    EUR     72.82
ECA                        2.50   1/1/2018    EUR     11.21
Leonteq Securities AG     14.40 10/31/2016    CHF     34.90
Agentstvo po Ipotechnom   10.30  7/15/2023    RUB     61.16
hkw personalkonzepte Gm    8.25 11/15/2016    EUR      3.80
Bank VTB 24 JSC            3.00  9/18/2046    RUB     60.06
Province of Brescia Ita    0.14  6/30/2036    EUR     65.35
UBS AG/London             12.00  11/4/2016    CHF     23.59
Bank Julius Baer & Co L    5.50  11/6/2017    CHF     56.50
Petromena ASA              9.75  5/24/2016    NOK      0.52
UniCredit Bank Austria     0.20  1/22/2031    EUR     66.38
Gold-Zack AG               7.00 12/14/2005    EUR     12.56
Raiffeisen-Landesbank T    2.50   9/2/2024    EUR     70.18
Otkritie Holding JSC      12.50  4/20/2028    RUB     60.11
UniCredit Bank AG          3.95  10/7/2019    EUR     67.67
Credit Suisse AG/London    7.25  9/26/2016    CHF     73.32
Lehman Brothers Treasur    7.50  7/31/2013    GBP      0.75
Landesbank Baden-Wuertt    3.50  8/25/2017    EUR     67.22
HSBC Bank PLC              0.50  2/24/2027    NZD     68.91
Municipality Finance PL    0.50  4/26/2022    ZAR     60.84
Lehman Brothers Treasur    9.75  6/22/2018    USD      0.75
Raiffeisen Centrobank A    7.25  9/26/2016    EUR     51.51
Lehman Brothers Treasur    7.60  5/21/2013    USD      0.75
Kommunalbanken AS          0.50 12/16/2020    TRY     72.99
Zurcher Kantonalbank Fi    1.01 12/16/2016    CHF     51.25
Exane Finance              5.00 12/20/2019    SEK     59.27
Lehman Brothers Treasur   11.00  6/29/2009    EUR      0.75
ECM Real Estate Investm    5.00  10/9/2011    EUR     10.38
Lehman Brothers Treasur   14.90  9/15/2008    EUR      0.75
UniCredit Bank Austria     0.09  1/24/2031    EUR     65.88
Immigon Portfolioabbau     4.78   6/7/2030    EUR     59.88
Svensk Exportkredit AB     0.50  8/29/2029    AUD     63.67
GRAND TOYS                17.00  3/26/2018    RUB      3.02
EDOB Abwicklungs AG        7.50   4/1/2012    EUR      0.25
Lehman Brothers Treasur    4.20  12/3/2008    HKD      9.63
URALSIB Leasing Co OOO     9.00 12/12/2016    RUB      0.01
Lillestrom Sparebank       4.48               NOK     59.60
Leonteq Securities AG      9.00 10/24/2016    EUR     68.57
Leonteq Securities AG      9.40 10/24/2016    EUR     61.21
Bank Julius Baer & Co L    6.50  10/7/2016    CHF     73.60
URALSIB Leasing Co OOO    11.50   2/6/2018    RUB      0.01
Societe Generale SA        0.50   4/3/2023    RUB     58.72
UniCredit Bank AG          4.00 10/14/2019    EUR     64.36
UniCredit Bank AG          4.55 10/28/2016    EUR     61.33
Credit Suisse AG/Nassau    5.25  5/14/2018    CHF     56.88
Notenstein La Roche Pri    3.50  9/26/2018    CHF     65.27
UniCredit Bank AG          3.75  10/2/2020    EUR     51.29
SAir Group                 5.50  7/23/2003    CHF     12.13
Svensk Exportkredit AB     0.50  8/25/2021    ZAR     66.22
Vontobel Financial Prod    3.00  6/13/2017    EUR     37.65
Bank Julius Baer & Co L   10.40 10/24/2016    CHF     69.85
Bank Julius Baer & Co L    9.40 11/10/2016    CHF     30.60
Credit Suisse AG/Nassau    6.00  10/3/2016    EUR     48.36
Lehman Brothers Treasur    6.00 10/24/2008    EUR      0.75
Lehman Brothers Treasur    4.60   7/6/2016    EUR      0.92
Lehman Brothers Treasur    0.25 10/19/2012    CHF      0.75
Anglian Water Services     0.94  1/26/2057    GBP     72.61
LZMO SA                    8.75 11/22/2016    PLN     17.00
MirLand Development Cor    8.50 11/30/2016    ILS     22.41
Agentstvo po Ipotechnom   10.90  11/1/2022    RUB     61.16
Lehman Brothers Treasur    6.00  3/14/2011    EUR     11.88
Credit Agricole Corpora    2.00   7/9/2020    BRL     67.19
Bank VTB 24 JSC            3.00  8/14/2043    RUB     60.06
UniCredit Bank AG          4.10  10/1/2020    EUR     62.13
Absolut Bank PAO           9.35  4/29/2020    RUB     60.06
LZMO SA                    8.50  6/30/2017    PLN
Credit Suisse AG/Nassau    7.00  3/22/2017    CHF     54.76
UniCredit Bank AG          4.60  6/30/2017    EUR     37.54
Rosbank PJSC               0.01  2/26/2024    RUB     60.06
Leonteq Securities AG      6.75  12/5/2016    CHF     58.05
Credit Suisse AG/London    8.00 11/29/2019    USD      6.93
Delta Credit Bank JSC     12.50  9/30/2025    RUB     60.03
UniCredit Bank AG          4.00  3/21/2017    EUR     60.54
UniCredit Bank AG          4.40  9/19/2018    EUR     49.48
Lehman Brothers Treasur    0.50 12/20/2017    AUD      0.75
Lehman Brothers Treasur    6.30 12/21/2018    USD      0.42
Lehman Brothers Treasur   11.00  2/16/2009    CHF      0.75
Lehman Brothers Treasur   11.75   3/1/2010    EUR      0.75
Lehman Brothers Treasur    4.00  3/10/2011    EUR      0.75
Bank Julius Baer & Co L    9.50 12/16/2016    CHF     63.35
Lehman Brothers Treasur    8.00  2/16/2016    EUR      0.75
Lehman Brothers Treasur   10.44 11/22/2008    CHF      0.75
Lehman Brothers Treasur    5.00 11/22/2012    EUR      0.75
DekaBank Deutsche Giroz    3.00   5/4/2018    EUR     57.34
Credit Suisse AG           0.50 12/16/2025    BRL     40.13
Municipality Finance PL    0.50 12/15/2020    BRL     67.14
Rosbank PJSC               0.01  4/30/2024    RUB     60.06
AKB Peresvet ZAO          13.25  11/6/2020    RUB     60.11
SpareBank 1 Nordvest       3.88  3/11/2099    NOK     60.04
DZ Bank AG Deutsche Zen    6.60 12/23/2016    EUR     74.56
SAir Group                 2.75  7/30/2004    CHF     12.13
Transgazservice LLP       10.50  11/8/2019    RUB     10.00
Promnefteservis OOO       10.50 11/21/2019    RUB      0.50
Credit Suisse AG/London    0.50   1/8/2026    BRL     38.95
UniCredit Bank AG          3.75   9/7/2020    EUR     53.34
UniCredit Bank AG          4.60   7/2/2018    EUR     43.14
UBS AG                     8.30  12/8/2016    USD      5.75
Melhus Sparebank           2.70  9/16/2024    NOK     68.96
Nuova Banca delle March    7.20  6/30/2018    EUR      1.24
Nuova Banca delle March    8.00  6/30/2018    EUR      1.24
Zurcher Kantonalbank Fi    0.50   6/9/2017    CHF     71.25
Leonteq Securities AG      3.50  4/10/2018    EUR     50.48
Credit Suisse AG/London    6.50  11/8/2016    CHF     72.10
UniCredit Bank AG          5.00  7/30/2018    EUR     51.12
HSBC Trinkaus & Burkhar    4.00  5/29/2017    EUR     65.69
Sparebanken Din            2.28               NOK     71.18
Lehman Brothers Treasur    4.00  7/20/2012    EUR      0.75
Lehman Brothers Treasur    4.69  2/19/2017    EUR      0.75
Raiffeisen Versicherung    5.08               EUR     24.35
KFW                        0.25  10/6/2036    CAD     39.13
Zapsibcombank PAO         14.85 12/12/2019    RUB     70.00
Zurcher Kantonalbank Fi   11.25  4/26/2017    CHF     67.71
Lehman Brothers Treasur    3.00  6/23/2009    EUR     11.88
Lehman Brothers Treasur    5.00   8/1/2025    EUR      0.75
Bank VTB 24 JSC            3.00  9/15/2044    RUB     60.03
Lehman Brothers Treasur   11.00 12/19/2011    USD      0.75
Totens Sparebank           2.68               NOK     73.38
Delta Credit Bank JSC     10.55   6/5/2024    RUB     60.03
UniCredit Bank AG          5.40  8/25/2018    EUR     70.29
Polbrand sp zoo            9.00  10/2/2017    PLN     20.00
Credit Suisse AG/Nassau    7.25   3/8/2017    CHF     56.40
Notenstein La Roche Pri    6.80 11/28/2016    CHF     74.96
Leonteq Securities AG     16.20 11/21/2016    CHF     46.57
UniCredit Bank AG          3.80  7/23/2020    EUR     51.53
Leonteq Securities AG     12.00  11/7/2016    CHF     44.26
MT-Energie GmbH & Co KG    8.25   4/4/2017    EUR      9.17
Lehman Brothers Treasur    2.40  6/20/2011    JPY      0.75
United Confectioners Fi   10.50   4/3/2023    RUB     64.07
Barclays Bank PLC          0.50  3/26/2021    MXN     71.54
Nota-Bank OJSC            13.50   4/1/2016    RUB     31.50
Lehman Brothers Treasur    5.50  4/23/2014    EUR      0.75
Lehman Brothers Treasur   13.43   1/8/2009    ILS      0.75
Lehman Brothers Treasur   16.00 10/28/2008    USD      0.75
Notenstein La Roche Pri    4.00  9/26/2018    CHF     69.46
Nuova Banca Popolare de    2.20  5/21/2018    EUR      0.81
Rosbank PJSC               0.03  4/30/2024    RUB     60.06
Deutsche Bank AG           5.20  6/20/2017    EUR     60.30
Landesbank Hessen-Thuer    5.00 10/17/2017    EUR     44.78
Polski Bank Spoldzielcz    4.77  6/22/2021    PLN     51.00
HSBC Bank PLC              0.50 10/30/2026    NZD     69.50
HSBC Bank PLC              0.50  12/8/2026    AUD     71.72
Leonteq Securities AG      9.40 10/24/2016    EUR     61.56
Landesbank Hessen-Thuer    6.30 10/17/2016    EUR     34.20
Bayerische Landesbank      3.20  7/27/2018    EUR     50.10
EFG International Finan    7.19   5/6/2019    EUR     32.95
Raiffeisen Centrobank A    2.40 12/19/2016    EUR
Fondovye Strategicheski    1.50  10/5/2020    RUB     60.01
Lehman Brothers Treasur    7.50   5/2/2017    EUR      0.75
Commerzbank AG             4.00   9/8/2017    EUR     64.84
iMoneyBank KB OOO          0.10 10/27/2016    RUB     58.00
Polski Bank Spoldzielcz    5.29  9/14/2027    PLN     54.00
Commerzbank AG             8.00  7/14/2021    USD     10.77
Provinsor Fastigheter A    8.50  6/30/2020    DKK      0.10
Immigon Portfolioabbau     0.98   3/1/2022    EUR     65.50
IT Holding Finance SA      9.88 11/15/2012    EUR      0.23
City of Siret Romania      2.24   3/1/2028    RON     55.00
Municipality Finance PL    0.25  6/28/2040    CAD     29.86
Commerzbank AG             1.00 11/28/2016    EUR     24.85
Nutritek International     8.75 12/11/2008    USD      2.00
Landesbank Hessen-Thuer    4.50 12/14/2016    EUR     63.50
Landesbank Hessen-Thuer    5.00 10/24/2016    EUR     60.30
Credit Suisse AG/Nassau    5.50   8/3/2017    EUR     65.57
Municipality Finance PL    0.50  5/31/2022    ZAR     60.16
Svensk Exportkredit AB     0.50  3/15/2022    ZAR     61.51
Deutsche Bank AG/London    0.50  4/18/2019    BRL     74.48
Fargo Finance OOO          9.00   2/6/2019    RUB      0.01
Credit Suisse AG/Nassau    6.00 11/17/2016    CHF     60.79
National Capital JSC       9.25  4/22/2019    RUB     60.03
National Capital JSC       9.25  4/22/2019    RUB     60.03
Lehman Brothers Treasur   16.80  8/21/2009    USD      0.75
Lehman Brothers Treasur    0.50 12/20/2017    AUD      9.63
Lehman Brothers Treasur    7.50  2/14/2010    AUD      0.75
Kaupthing ehf              7.63  2/28/2015    USD     17.63
UniCredit Bank AG          4.25  9/12/2017    EUR     55.99
Lehman Brothers Treasur   11.00   5/9/2020    USD      0.75
HSBC Bank PLC              0.50 11/25/2025    BRL     46.79
DZ Bank AG Deutsche Zen    8.40  3/20/2017    EUR     68.91
Torgovyi Dom Spartak-Ka   14.00   5/2/2017    RUB     67.96
Deutsche Bank AG           7.20  3/21/2017    EUR     73.90
Deutsche Bank AG           7.20  6/20/2017    EUR     71.00
Bank J Safra Sarasin AG    9.60 10/17/2016    CHF     68.29
BNP Paribas Emissions-    26.00 12/21/2017    EUR     73.60
BNP Paribas Emissions-    13.00  6/22/2017    EUR     74.22
BNP Paribas Emissions-    19.00 12/21/2017    EUR     72.03
BNP Paribas Emissions-    29.00  6/22/2017    EUR     72.46
Landesbank Baden-Wuertt    4.00  3/24/2017    EUR     46.54
Russian Bank for Small     9.75  8/11/2022    RUB     60.03
HSBC Bank PLC              0.50  1/31/2020    BRL     71.72
Barclays Bank PLC          0.11 12/28/2040    EUR     66.82
Lehman Brothers Treasur    4.05  9/16/2008    EUR      0.75
Province of Brescia Ita    0.25 12/22/2036    EUR     64.51
HSBC Bank PLC              0.50  7/21/2021    BRL     72.96
Deutsche Bank AG           7.50 12/20/2016    EUR     53.83
DekaBank Deutsche Giroz    3.00  5/12/2017    EUR     41.26
Landesbank Baden-Wuertt    4.50  8/25/2017    EUR     68.18
EFG International Finan    7.20  7/29/2020    EUR     66.20
Societe Generale Effekt    4.00  6/26/2017    EUR     48.16
Landesbank Baden-Wuertt    3.15 10/28/2016    EUR     50.52
DZ Bank AG Deutsche Zen    3.50  9/30/2016    EUR     58.87
Landesbank Baden-Wuertt    3.20 11/25/2016    EUR     72.21
Zurcher Kantonalbank Fi    5.25  11/1/2016    CHF     34.68
Notenstein La Roche Pri    7.40 10/31/2016    CHF     24.45
Landesbank Baden-Wuertt    3.30 12/23/2016    EUR     73.43
Landesbank Baden-Wuertt    3.25 12/22/2017    EUR     49.68
Landesbank Baden-Wuertt    3.50 12/23/2016    EUR     70.90
UniCredit Bank AG          4.00  6/26/2018    EUR     43.23
Landesbank Hessen-Thuer    4.00  1/16/2018    EUR     39.89
EFG International Finan    6.48  5/29/2018    EUR      8.85
Barclays Bank PLC          4.17   1/5/2017    EUR
Barclays Bank PLC          4.17   1/5/2017    EUR     16.92
Landesbank Baden-Wuertt    3.25  6/23/2017    EUR     68.93
Landesbank Baden-Wuertt    3.00  2/23/2018    EUR     46.34
Barclays Bank PLC          0.50  1/28/2033    MXN     27.39
Barclays Bank PLC          0.50  3/13/2023    RUB     58.97
HSBC Bank PLC              0.50  4/11/2023    MXN     62.92
Societe Generale SA        0.50  4/30/2023    RUB     58.14
Banca delle Marche SpA     6.00  6/12/2018    EUR      1.00
Lehman Brothers Treasur    7.25  6/20/2010    USD      0.75
Lehman Brothers Treasur    7.00  9/20/2011    USD      0.75
Notenstein La Roche Pri    6.00  7/11/2017    CHF     63.71
Leonteq Securities AG      8.00   1/4/2017    CHF     73.39
Credit Suisse AG/Nassau    7.25  7/13/2017    CHF     63.70
Polyus Perspectiva OOO    11.00 12/15/2020    RUB     70.63
Landesbank Baden-Wuertt    2.00  6/23/2017    EUR     70.54
Landesbank Baden-Wuertt    4.00  6/23/2017    EUR     63.14
Vontobel Financial Prod   10.85 12/23/2016    EUR     71.34
Commerzbank AG            15.50 12/22/2016    EUR     71.73
Commerzbank AG             9.75 12/22/2016    EUR     69.24
Commerzbank AG             8.75 12/22/2016    EUR     48.89
Commerzbank AG            12.50 12/22/2016    EUR     45.09
DZ Bank AG Deutsche Zen    8.00 12/19/2016    EUR     66.52
DZ Bank AG Deutsche Zen    8.00  3/20/2017    EUR     68.47
Leonteq Securities AG     11.00  1/19/2017    CHF     71.30
Vontobel Financial Prod    7.70 12/23/2016    EUR     53.26
DZ Bank AG Deutsche Zen    9.25  1/27/2017    EUR     73.96
DZ Bank AG Deutsche Zen    5.75  1/27/2017    EUR     73.98
DZ Bank AG Deutsche Zen   10.00 12/23/2016    EUR     52.20
DZ Bank AG Deutsche Zen    5.00  1/27/2017    EUR     57.15
DZ Bank AG Deutsche Zen    8.50  1/27/2017    EUR     52.66
Lehman Brothers Treasur    1.50   2/8/2012    CHF      0.75
Societe Generale SA        0.50   4/4/2024    MXN     58.23
UBS AG/London             10.25 12/23/2016    EUR     69.18
UBS AG/London             21.75 12/23/2016    EUR     69.91
Credit Suisse AG/Nassau    5.24 11/28/2016    CHF     60.83
Notenstein La Roche Pri    8.80  12/5/2016    CHF     66.08
Goldman Sachs Internati    1.00  12/5/2017    SEK     11.94
Leonteq Securities AG      3.90 12/20/2024    CHF     74.99
Leonteq Securities AG/G    5.00 12/12/2016    CHF     59.67
Notenstein La Roche Pri    7.30 12/12/2016    CHF     59.91
UniCredit Bank AG          4.48 12/23/2016    EUR     73.76
Leonteq Securities AG      7.80 12/19/2016    CHF     61.99
Notenstein La Roche Pri    5.50 12/28/2018    CHF     66.24
Notenstein La Roche Pri    8.00 12/29/2016    EUR     67.80
Deutsche Bank AG           8.20 12/20/2016    EUR     55.10
Deutsche Bank AG           8.20 12/20/2016    EUR     56.60
Deutsche Bank AG           8.20 12/20/2016    EUR     47.50
Notenstein La Roche Pri    5.00  1/14/2019    CHF     63.68
Notenstein La Roche Pri    8.50  1/16/2017    EUR     57.79
Commerzbank AG             5.00 12/22/2016    EUR     53.65
Commerzbank AG             6.00 12/22/2016    EUR     51.13
Commerzbank AG             7.00 12/22/2016    EUR     48.86
Commerzbank AG             5.50 12/22/2016    EUR     63.01
Commerzbank AG             7.25 12/22/2016    EUR     58.47
Commerzbank AG             6.00 12/22/2016    EUR     69.79
Commerzbank AG             7.00 12/22/2016    EUR     66.43
Commerzbank AG             8.00 12/22/2016    EUR     63.45
Commerzbank AG             5.25 12/22/2016    EUR     72.66
Commerzbank AG             6.50 12/22/2016    EUR     69.40
Commerzbank AG             6.75 12/22/2016    EUR     72.72
DZ Bank AG Deutsche Zen    5.60  3/30/2017    EUR     49.21
Bank Julius Baer & Co L    5.20  9/25/2017    EUR     63.10
Notenstein La Roche Pri    8.00  10/3/2016    CHF     66.01
Notenstein La Roche Pri    7.50  10/3/2016    CHF     63.19
Notenstein La Roche Pri    7.00  10/3/2016    EUR     74.72
Credit Suisse AG/Nassau    6.25  10/6/2016    CHF     60.49
Bank Julius Baer & Co L    4.75 10/10/2016    CHF     58.70
Notenstein La Roche Pri    7.00 10/10/2016    CHF     65.61
Credit Suisse AG/Nassau    6.25 10/14/2016    CHF     61.43
Notenstein La Roche Pri    6.00 10/17/2016    CHF     65.94
Zurcher Kantonalbank Fi    6.25 10/14/2016    CHF     67.59
Notenstein La Roche Pri    6.20 10/24/2016    CHF     65.91
Leonteq Securities AG      8.45  11/7/2016    CHF     39.53
Leonteq Securities AG      5.20  11/7/2016    CHF     54.05
Leonteq Securities AG/G    6.00 10/31/2018    CHF     74.51
Notenstein La Roche Pri    5.00 10/31/2018    CHF     66.50
Notenstein La Roche Pri    4.50 10/31/2018    CHF     61.78
Notenstein Finance Guer    7.30 10/28/2016    CHF     64.62
DekaBank Deutsche Giroz    4.00 10/21/2016    EUR     70.68
Leonteq Securities AG      3.00  9/19/2019    CHF     41.55
DekaBank Deutsche Giroz    8.50 10/27/2016    EUR     52.68
DekaBank Deutsche Giroz    7.15 10/27/2017    EUR     56.13
Notenstein La Roche Pri    7.50  11/7/2016    EUR     73.34
DekaBank Deutsche Giroz    3.50 10/28/2016    EUR     61.46
UBS AG/London              9.00 12/23/2016    EUR     65.67
Notenstein La Roche Pri    5.30 11/14/2018    CHF     74.52
Notenstein La Roche Pri    6.00 11/14/2016    CHF     72.81
Notenstein La Roche Pri    4.80 11/14/2018    CHF     69.99
Leonteq Securities AG/G    5.00 11/14/2016    CHF     62.12
Notenstein La Roche Pri    3.00  9/22/2020    CHF     52.48
Vontobel Financial Prod    5.00 11/21/2016    EUR     70.32
DekaBank Deutsche Giroz    3.00  5/15/2018    EUR     69.18
Notenstein La Roche Pri    2.70  9/22/2026    CHF     70.62
UniCredit Bank AG          3.50  1/29/2020    EUR     56.54
UniCredit Bank AG          3.50 12/19/2019    EUR     59.42
Credit Suisse AG/Nassau    6.00 11/28/2016    CHF     58.27
UniCredit Bank AG          3.79 12/19/2016    EUR     59.16
UBS AG/London              9.00 12/23/2016    EUR     72.36
UBS AG/London             16.75 12/23/2016    EUR     67.71
UBS AG/London             15.50 12/23/2016    EUR     69.39
UBS AG/London             14.00 12/23/2016    EUR     74.04
UBS AG/London             15.00 12/23/2016    EUR     72.23
UBS AG/London             14.50 12/23/2016    EUR     71.65
UBS AG/London             17.75 12/23/2016    EUR     68.64
UBS AG/London             22.00 12/23/2016    EUR     69.14
UBS AG/London             13.75 12/23/2016    EUR     74.17
UBS AG/London             16.50 12/23/2016    EUR     57.47
UBS AG/London             15.75 12/23/2016    EUR     70.09
EFG International Finan    7.00 11/27/2019    EUR     38.39
Notenstein La Roche Pri    7.00  12/5/2016    EUR     67.28
Leonteq Securities AG/G   12.80 12/12/2016    USD     61.17
Notenstein La Roche Pri    8.00 12/12/2016    CHF     62.38
Credit Suisse AG/Nassau    6.00 12/12/2016    CHF     59.72
DekaBank Deutsche Giroz    2.50  12/1/2017    EUR     69.62
Notenstein La Roche Pri    8.20 12/19/2016    EUR     69.23
Deutsche Bank AG           8.20 12/20/2016    EUR     57.40
Deutsche Bank AG           8.20 12/20/2016    EUR     67.80
Landesbank Hessen-Thuer    4.00   2/6/2019    EUR     71.09
Notenstein La Roche Pri    7.00  1/16/2017    CHF     65.98
Notenstein La Roche Pri    5.50  1/14/2019    CHF     67.63
DekaBank Deutsche Giroz    3.00 12/17/2018    EUR     60.75
Commerzbank AG             6.25 12/22/2016    EUR     61.21
Commerzbank AG             5.00 12/22/2016    EUR     73.50
Vontobel Financial Prod    5.00  2/13/2017    EUR     56.91
DekaBank Deutsche Giroz    2.50 12/16/2016    EUR     46.32
DZ Bank AG Deutsche Zen    5.00   2/6/2018    EUR     64.72
DekaBank Deutsche Giroz    3.20  1/14/2019    EUR     74.32
Goldman Sachs & Co Wert   14.00 10/26/2016    EUR     71.42
Goldman Sachs & Co Wert   18.00 10/26/2016    EUR     66.72
Goldman Sachs & Co Wert    8.00 10/26/2016    EUR     70.70
Goldman Sachs & Co Wert    9.00 10/26/2016    EUR     70.78
Goldman Sachs & Co Wert   12.00 10/26/2016    EUR     64.02
Goldman Sachs & Co Wert   16.00 10/26/2016    EUR     58.61
Goldman Sachs & Co Wert   21.00 10/26/2016    EUR     54.23
Goldman Sachs & Co Wert    8.00 12/21/2016    EUR     71.85
Goldman Sachs & Co Wert   19.00 12/21/2016    EUR     57.04
Goldman Sachs & Co Wert    8.00  3/22/2017    EUR     73.54
Goldman Sachs & Co Wert   10.00  3/22/2017    EUR     67.88
Goldman Sachs & Co Wert   10.00  6/21/2017    EUR     68.94
Goldman Sachs & Co Wert    7.00  9/20/2017    EUR     74.42
Goldman Sachs & Co Wert    5.00 10/26/2016    EUR     60.08
Goldman Sachs & Co Wert    7.00 10/26/2016    EUR     52.11
Goldman Sachs & Co Wert   10.00 10/26/2016    EUR     48.06
Goldman Sachs & Co Wert   15.00 10/26/2016    EUR     41.71
Goldman Sachs & Co Wert   19.00 10/26/2016    EUR     39.33
Goldman Sachs & Co Wert    7.00 12/21/2016    EUR     53.20
Goldman Sachs & Co Wert    8.00 12/21/2016    EUR     51.19
Goldman Sachs & Co Wert    9.00 12/21/2016    EUR     49.38
Goldman Sachs & Co Wert   15.00 12/21/2016    EUR     42.64
Goldman Sachs & Co Wert   17.00 12/21/2016    EUR     41.81
Goldman Sachs & Co Wert   15.00  3/22/2017    EUR     45.18
Goldman Sachs & Co Wert    4.00  9/20/2017    EUR     65.80
Goldman Sachs & Co Wert    4.00  9/20/2017    EUR     62.90
Goldman Sachs & Co Wert    5.00  9/20/2017    EUR     61.19
Goldman Sachs & Co Wert    6.00  9/20/2017    EUR     57.34
Goldman Sachs & Co Wert    8.00  9/20/2017    EUR     55.17
Goldman Sachs & Co Wert   12.00  9/20/2017    EUR     51.11
Goldman Sachs & Co Wert   20.00 12/21/2016    EUR     74.07
Goldman Sachs & Co Wert   17.00  3/22/2017    EUR     69.96
Goldman Sachs & Co Wert   14.00  9/20/2017    EUR     74.05
UBS AG                     7.00  12/9/2016    EUR     67.83
Vontobel Financial Prod    8.50 12/23/2016    EUR     61.65
Vontobel Financial Prod   14.00 12/23/2016    EUR     53.08
Norddeutsche Landesbank    5.00  10/6/2016    EUR     57.49
Credit Suisse AG/Nassau    9.25  9/26/2016    EUR     70.68
Vontobel Financial Prod    5.50 12/23/2016    EUR     52.87
Credit Suisse AG/Nassau    6.25  9/26/2016    CHF     67.30
DZ Bank AG Deutsche Zen    7.50 12/19/2016    EUR     62.79
DZ Bank AG Deutsche Zen    8.00 12/19/2016    EUR     62.90
Vontobel Financial Prod    7.00 12/23/2016    EUR     72.87
Vontobel Financial Prod   13.00 10/28/2016    EUR     68.00
Bayerische Landesbank      3.50 10/14/2016    EUR     63.98
Bank Julius Baer & Co L    8.45  9/26/2016    EUR     66.60
Vontobel Financial Prod    9.70 10/28/2016    EUR     70.75
Goldman Sachs & Co Wert   21.00 10/26/2016    EUR     37.13
Goldman Sachs & Co Wert    6.00 10/26/2016    EUR     54.48
Goldman Sachs & Co Wert   16.00  3/22/2017    EUR     43.31
Goldman Sachs & Co Wert   13.00 12/21/2016    EUR     73.35
Goldman Sachs & Co Wert    8.00 12/21/2016    EUR     71.85
Goldman Sachs & Co Wert   15.00 12/21/2016    EUR     60.87
Goldman Sachs & Co Wert   13.00  3/22/2017    EUR     63.72
Goldman Sachs & Co Wert   16.00  3/22/2017    EUR     60.44
Goldman Sachs & Co Wert    7.00  6/21/2017    EUR     72.98
Goldman Sachs & Co Wert    8.00  6/21/2017    EUR     73.72
Goldman Sachs & Co Wert   15.00  6/21/2017    EUR     62.65
Goldman Sachs & Co Wert    7.00  9/20/2017    EUR     74.42
Goldman Sachs & Co Wert    9.00  9/20/2017    EUR     70.43
Goldman Sachs & Co Wert   14.00  9/20/2017    EUR     65.63
Goldman Sachs & Co Wert    3.00 10/26/2016    EUR     66.93
Goldman Sachs & Co Wert    4.00 10/26/2016    EUR     63.31
Goldman Sachs & Co Wert    5.00 10/26/2016    EUR     57.10
Goldman Sachs & Co Wert    8.00 10/26/2016    EUR     49.95
Goldman Sachs & Co Wert    8.00  3/22/2017    EUR     51.22
Goldman Sachs & Co Wert   10.00  3/22/2017    EUR     48.57
Goldman Sachs & Co Wert    8.00  6/21/2017    EUR     53.20
Goldman Sachs & Co Wert   10.00  6/21/2017    EUR     51.08
Goldman Sachs & Co Wert   14.00  6/21/2017    EUR     48.24
Goldman Sachs & Co Wert    3.00  9/20/2017    EUR     67.89
Goldman Sachs & Co Wert    3.00  9/20/2017    EUR     74.47
Goldman Sachs & Co Wert    7.00  9/20/2017    EUR     56.18
Goldman Sachs & Co Wert   10.00  9/20/2017    EUR     52.00
Goldman Sachs & Co Wert   12.00  9/20/2017    EUR     49.82
Goldman Sachs & Co Wert   22.00 10/26/2016    EUR     71.20
Goldman Sachs & Co Wert   15.00 10/26/2016    EUR     67.40
Goldman Sachs & Co Wert   18.00 10/26/2016    EUR     64.15
Vontobel Financial Prod   12.00 12/23/2016    EUR     55.50
Vontobel Financial Prod    9.00 12/23/2016    EUR     74.22
DZ Bank AG Deutsche Zen    6.75 12/23/2016    EUR     50.29
DZ Bank AG Deutsche Zen    7.75 12/23/2016    EUR     60.80
Vontobel Financial Prod    6.00 12/23/2016    EUR     65.28
DZ Bank AG Deutsche Zen    7.50 12/19/2016    EUR     74.71
DZ Bank AG Deutsche Zen    6.00 12/19/2016    EUR     69.92
DZ Bank AG Deutsche Zen    8.10 12/19/2016    EUR     46.77
Landesbank Baden-Wuertt    6.30 10/28/2016    EUR     58.34
Vontobel Financial Prod   11.15 10/28/2016    EUR     67.81
Goldman Sachs & Co Wert   10.00 12/21/2016    EUR     65.40
DZ Bank AG Deutsche Zen    4.00 12/23/2016    EUR     56.39
Bank Julius Baer & Co L   10.85  9/30/2016    EUR     46.35
Vontobel Financial Prod   17.00 12/23/2016    EUR     69.03
DZ Bank AG Deutsche Zen    5.40 12/19/2016    EUR     52.29
DekaBank Deutsche Giroz    4.50 12/30/2016    EUR     73.86
DekaBank Deutsche Giroz   10.20 10/10/2016    EUR     74.72
DZ Bank AG Deutsche Zen    5.25 10/28/2016    EUR     72.20
DZ Bank AG Deutsche Zen    9.50 10/28/2016    EUR     44.94
DZ Bank AG Deutsche Zen    7.75 12/23/2016    EUR     45.98
HSBC Trinkaus & Burkhar   10.20  3/24/2017    EUR     64.95
HSBC Trinkaus & Burkhar   10.50  3/24/2017    EUR     47.24
HSBC Trinkaus & Burkhar    9.40  3/24/2017    EUR     48.32
HSBC Trinkaus & Burkhar    7.30  3/24/2017    EUR     50.92
DekaBank Deutsche Giroz    2.75  6/24/2019    EUR     63.12
Credit Suisse AG/London    7.00  9/30/2020    USD     10.00
Landesbank Baden-Wuertt    3.10 10/25/2019    EUR     62.92
Vontobel Financial Prod   14.50 12/23/2016    EUR     71.12
DZ Bank AG Deutsche Zen    8.40 12/19/2016    EUR     68.19
Vontobel Financial Prod    3.00 12/23/2016    EUR     63.63
UBS AG/London              7.50 10/28/2016    EUR     43.05
Leonteq Securities AG     11.00  9/28/2016    CHF     70.55
Leonteq Securities AG     10.00  9/28/2016    CHF     54.91
Vontobel Financial Prod    6.00 12/23/2016    EUR     46.67
Deutsche Bank AG           3.20 12/20/2016    EUR     74.50
Deutsche Bank AG           3.20 12/20/2016    EUR     70.50
Deutsche Bank AG           3.20 12/20/2016    EUR     66.90
Deutsche Bank AG           3.20 12/20/2016    EUR     62.30
Deutsche Bank AG           3.20 12/20/2016    EUR     60.30
Deutsche Bank AG           3.20 12/20/2016    EUR     56.60
Notenstein La Roche Pri    6.40  9/25/2017    EUR     70.35
Deutsche Bank AG           3.20 12/20/2016    EUR     54.90
Deutsche Bank AG           3.20 12/20/2016    EUR     52.50
Deutsche Bank AG           3.20 12/20/2016    EUR     50.20
Deutsche Bank AG           3.20 12/20/2016    EUR     74.80
Deutsche Bank AG           4.20 12/20/2016    EUR     70.70
Deutsche Bank AG           4.20 12/20/2016    EUR     67.10
Deutsche Bank AG           4.20 12/20/2016    EUR     50.50
Deutsche Bank AG           4.20 12/20/2016    EUR     48.40
Deutsche Bank AG           4.20 10/26/2016    EUR     70.20
Deutsche Bank AG           4.20 10/26/2016    EUR     66.50
Deutsche Bank AG           4.20 10/26/2016    EUR     49.80
Deutsche Bank AG           4.20 10/26/2016    EUR     47.80
Deutsche Bank AG           4.20 11/22/2017    EUR     54.00
Deutsche Bank AG           4.20 10/26/2016    EUR     56.20
Deutsche Bank AG           3.20 10/26/2016    EUR     74.20
Deutsche Bank AG           3.20 10/26/2016    EUR     52.00
Deutsche Bank AG           3.20 10/26/2016    EUR     49.70
Deutsche Bank AG           3.20 10/26/2016    EUR     61.90
Deutsche Bank AG           3.20 10/26/2016    EUR     59.90
Deutsche Bank AG           3.20 10/26/2016    EUR     56.10
DZ Bank AG Deutsche Zen    5.70 12/19/2016    EUR     71.52
DZ Bank AG Deutsche Zen    7.00 12/23/2016    EUR     74.68
National Capital JSC      10.50  9/15/2020    RUB     60.03
Vontobel Financial Prod    8.65 10/28/2016    EUR     68.82
HSBC Trinkaus & Burkhar    6.70 10/28/2016    EUR     52.26
Deutsche Bank AG           8.20 12/20/2016    EUR     64.80
Deutsche Bank AG           9.20 12/20/2016    EUR     47.70
Deutsche Bank AG           8.20 12/20/2016    EUR     45.70
Deutsche Bank AG           9.20 12/20/2016    EUR     46.00
Deutsche Bank AG           9.20 12/20/2016    EUR     53.20
Deutsche Bank AG           8.20 12/20/2016    EUR     71.70
Deutsche Bank AG           9.20 12/20/2016    EUR     71.90
Deutsche Bank AG           3.20 10/26/2016    EUR     70.10
Deutsche Bank AG           3.20 11/22/2017    EUR     70.00
Deutsche Bank AG           3.20 10/26/2016    EUR     54.40
Deutsche Bank AG           3.20 11/22/2017    EUR     50.80
Deutsche Bank AG           3.20 11/22/2017    EUR     61.30
Deutsche Bank AG           3.20 11/22/2017    EUR     57.90
Deutsche Bank AG           4.20 10/26/2016    EUR     74.40
DekaBank Deutsche Giroz    3.10   8/4/2017    EUR     37.96
DekaBank Deutsche Giroz    2.75  8/26/2019    EUR     73.37
HSBC Trinkaus & Burkhar    6.00  3/24/2017    EUR     72.40
HSBC Trinkaus & Burkhar    6.60 10/28/2016    EUR     70.67
HSBC Trinkaus & Burkhar    6.00  3/24/2017    EUR     54.57
Deutsche Bank AG           9.20 12/20/2016    EUR     65.00
Deutsche Bank AG           8.20 12/20/2016    EUR     53.00
Goldman Sachs & Co Wert   22.00 10/26/2016    EUR     70.28
Goldman Sachs & Co Wert   21.00 10/26/2016    EUR     71.11
DekaBank Deutsche Giroz    3.00  6/30/2017    EUR     72.38
DZ Bank AG Deutsche Zen    5.30 12/19/2016    EUR     74.59
DekaBank Deutsche Giroz   10.50 11/15/2016    EUR     68.01
DekaBank Deutsche Giroz    8.35 11/15/2016    EUR     72.24
DZ Bank AG Deutsche Zen    6.25 10/28/2016    EUR     49.21
DZ Bank AG Deutsche Zen    8.50 10/28/2016    EUR     56.16
HSBC Trinkaus & Burkhar    7.20  6/23/2017    EUR     69.79
HSBC Trinkaus & Burkhar    8.20  6/23/2017    EUR     51.21
DekaBank Deutsche Giroz    2.50  9/16/2019    EUR     73.28
Credit Suisse AG/London    7.00  9/30/2020    USD     10.15
Credit Suisse AG/London    7.50  10/6/2016    CHF     57.43
Vontobel Financial Prod   13.00 12/23/2016    EUR     73.36
DZ Bank AG Deutsche Zen    7.60 12/19/2016    EUR     70.13
DZ Bank AG Deutsche Zen    9.10 12/19/2016    EUR     66.22
Vontobel Financial Prod   18.50 12/23/2016    EUR     56.99
Landesbank Baden-Wuertt    3.55  6/23/2017    EUR     64.50
Landesbank Baden-Wuertt    3.70  6/23/2017    EUR     69.37
Landesbank Baden-Wuertt    3.15  6/22/2018    EUR     47.90
Leonteq Securities AG/G   10.58   2/3/2017    USD     33.90
Landesbank Baden-Wuertt    3.00  6/23/2017    EUR     71.26
UBS AG                     9.50 12/22/2017    EUR     54.53
UBS AG                     5.50 12/23/2016    EUR     62.85
UBS AG                     9.25 12/23/2016    EUR     32.11
UBS AG                    14.00 12/23/2016    EUR     64.48
UBS AG                    12.75 12/23/2016    EUR     68.61
UBS AG                    12.00 12/23/2016    EUR     40.17
UBS AG                     7.00 12/22/2017    EUR     60.04
UBS AG                    11.25 12/23/2016    EUR     73.23
UBS AG                     5.25 12/22/2017    EUR     46.22
UBS AG                     5.25 12/23/2016    EUR     67.74
UBS AG                    16.75 12/23/2016    EUR     31.72
UBS AG                     8.25 12/22/2017    EUR     54.52
UBS AG                     7.50 12/23/2016    EUR     54.55
UBS AG                    11.75 12/22/2017    EUR     45.95
UBS AG                     5.25 12/23/2016    EUR     71.27
UBS AG                     5.00 12/22/2017    EUR     74.28
UBS AG                     7.75 12/22/2017    EUR     63.53
UBS AG                     7.00 12/22/2017    EUR     60.19
UBS AG                    14.50 12/23/2016    EUR     40.67
UBS AG                     6.75 12/23/2016    EUR     58.44
UBS AG                     8.00 12/23/2016    EUR     58.67
UBS AG                    10.25 12/22/2017    EUR     56.19
UBS AG                     5.75 12/22/2017    EUR     71.97
UBS AG                     7.50 12/23/2016    EUR     61.37
UBS AG                     5.00 12/22/2017    EUR     72.28
UBS AG                    10.25 12/22/2017    EUR     38.20
UBS AG                     5.50 12/22/2017    EUR     67.34
UBS AG                     5.00 12/22/2017    EUR     48.72
UBS AG                    12.25 12/23/2016    EUR     27.93
UBS AG                    13.00 12/23/2016    EUR     27.13
UBS AG                     8.50 12/22/2017    EUR     39.17
UBS AG                    11.75 12/22/2017    EUR     36.67
UBS AG                     5.00 12/23/2016    EUR     71.30
UBS AG                     5.25 12/23/2016    EUR     40.99
UBS AG                     6.75 12/23/2016    EUR     59.13
UBS AG                    16.00 12/23/2016    EUR     37.32
UBS AG                     5.75 12/23/2016    EUR     67.52
UBS AG                     8.00 12/22/2017    EUR     58.14
UBS AG                     8.75 12/22/2017    EUR     56.19
UBS AG                     4.00 12/23/2016    EUR     72.09
UBS AG                     4.50 12/23/2016    EUR     69.02
UBS AG                     5.50 12/22/2017    EUR     66.30
UBS AG                     4.75 12/22/2017    EUR     70.10
UBS AG                    12.50 12/23/2016    EUR     44.25
UBS AG                     4.00 12/22/2017    EUR     52.38
UBS AG                    10.25 12/22/2017    EUR     53.17
UBS AG                    11.75 12/22/2017    EUR     51.16
UBS AG                    10.25 12/23/2016    EUR     48.74
UBS AG                    10.25 12/23/2016    EUR     44.66
UBS AG                     5.25 12/22/2017    EUR     69.75
UBS AG                     6.00 12/23/2016    EUR     38.70
UBS AG                     7.50 12/22/2017    EUR     40.86
UBS AG                    13.00 12/22/2017    EUR     67.43
UBS AG                     6.75 12/22/2017    EUR     42.56
UBS AG                     8.50 12/23/2016    EUR     33.49
UBS AG                     9.50 12/22/2017    EUR     50.72
UBS AG                     5.75 12/22/2017    EUR     44.43
UBS AG                     7.25 12/23/2016    EUR     35.84
UBS AG                     7.75 12/22/2017    EUR     59.02
UBS AG                     5.75 12/23/2016    EUR     64.58
UBS AG                     8.25 12/22/2017    EUR     40.26
UBS AG                     4.75 12/23/2016    EUR     43.67
UBS AG                    10.50 12/22/2017    EUR     47.76
UBS AG                     4.50 12/23/2016    EUR     68.15
UBS AG                     4.75 12/22/2017    EUR     71.56
UBS AG                     7.75 12/23/2016    EUR     54.64
UBS AG                     7.75 12/23/2016    EUR     46.89
UBS AG                     5.25 12/23/2016    EUR     69.12
UBS AG                     5.00 12/22/2017    EUR     71.80
UBS AG                     4.75 12/23/2016    EUR     40.75
UBS AG                     6.25 12/22/2017    EUR     41.81
UBS AG                    11.50 12/23/2016    EUR     73.06
UBS AG                    10.50 12/23/2016    EUR     38.61
UBS AG                     5.50 12/23/2016    EUR     35.29
UBS AG                    11.25 12/22/2017    EUR     74.94
UBS AG                     9.00 12/22/2017    EUR     70.55
UBS AG                     6.00 12/23/2016    EUR     58.69
UBS AG                     8.25 12/22/2017    EUR     52.59
UBS AG                     6.25 12/23/2016    EUR     31.24
UBS AG                     4.50 12/22/2017    EUR     48.66
UBS AG                    10.50 12/22/2017    EUR     44.22
UBS AG                     5.00 12/22/2017    EUR     45.80
UBS AG                     9.50 12/23/2016    EUR     45.56
UBS AG                    10.50 12/22/2017    EUR     53.87
UBS AG                    14.50 12/23/2016    EUR     61.31
UBS AG                     6.00 12/23/2016    EUR     58.69
UBS AG                     6.75 12/23/2016    EUR     50.09
UBS AG                     8.50 12/23/2016    EUR     47.09
UBS AG                     9.50 12/22/2017    EUR     47.32
UBS AG                     6.50 12/22/2017    EUR     59.16
UBS AG                     6.50 12/22/2017    EUR     42.13
Leonteq Securities AG/G    5.75  3/17/2017    CHF     53.85
DekaBank Deutsche Giroz    3.40   3/5/2018    EUR     61.80
Banque Cantonale Vaudoi    4.80  3/10/2017    CHF     65.52
Landesbank Baden-Wuertt    4.20 10/28/2016    EUR     36.38
Landesbank Baden-Wuertt    3.50 10/28/2016    EUR     69.08
Landesbank Baden-Wuertt    3.30  6/22/2018    EUR     49.17
Landesbank Baden-Wuertt    4.15 10/28/2016    EUR     36.75
DekaBank Deutsche Giroz    3.10  2/26/2018    EUR     62.64
Landesbank Baden-Wuertt    3.90  6/23/2017    EUR     64.22
DekaBank Deutsche Giroz    3.10   2/5/2018    EUR     71.43
Lehman Brothers Treasur    5.00  2/15/2018    EUR      0.75
Lehman Brothers Treasur    9.00   5/6/2011    CHF      0.75
Lehman Brothers Treasur   10.60  4/22/2014    MXN      0.75
Lehman Brothers Treasur   16.00  11/9/2008    USD      0.75
Lehman Brothers Treasur   10.00  5/22/2009    USD      0.75
Lehman Brothers Treasur    4.60   8/1/2013    EUR      0.75
Lehman Brothers Treasur    8.00  5/22/2009    USD      0.75
Lehman Brothers Treasur   15.00   6/4/2009    CHF      0.75
Goldman Sachs & Co Wert   15.00  1/25/2017    EUR     73.97
Goldman Sachs & Co Wert   19.00  1/25/2017    EUR     69.79
Goldman Sachs & Co Wert    3.00  1/25/2017    EUR     67.52
Goldman Sachs & Co Wert    7.00  1/25/2017    EUR     53.91
Goldman Sachs & Co Wert   10.00  1/25/2017    EUR     50.62
Goldman Sachs & Co Wert   18.00  1/25/2017    EUR     45.12
Goldman Sachs & Co Wert    4.00 12/20/2017    EUR     63.55
Goldman Sachs & Co Wert    7.00 12/20/2017    EUR     57.89
Goldman Sachs & Co Wert   10.00 12/20/2017    EUR     54.58
Goldman Sachs & Co Wert   11.00 12/20/2017    EUR     54.35
Lehman Brothers Treasur    7.60   3/4/2010    NZD      0.75
Lehman Brothers Treasur   13.50   6/2/2009    USD      0.75
UBS AG/London              5.00  12/9/2016    CHF     73.94
Vontobel Financial Prod   11.50 12/23/2016    EUR     48.12
Lehman Brothers Treasur   12.40  6/12/2009    USD      0.75
UBS AG                    13.50  6/13/2017    CHF     69.70
Lehman Brothers Treasur    0.50   6/2/2020    EUR      0.75
Lehman Brothers Treasur   11.00   7/4/2011    USD      0.75
Lehman Brothers Treasur   12.00   7/4/2011    EUR      0.75
Lehman Brothers Treasur    5.50   7/8/2013    EUR      0.75
Lehman Brothers Treasur    7.75   1/3/2012    AUD      0.75
Lehman Brothers Treasur    3.10   6/4/2010    USD      0.75
Lehman Brothers Treasur    2.50  8/15/2012    CHF      0.75
DZ Bank AG Deutsche Zen   15.75 12/23/2016    EUR     69.27
DZ Bank AG Deutsche Zen   12.50 12/23/2016    EUR     72.92
DZ Bank AG Deutsche Zen    8.50 12/23/2016    EUR     66.10
DZ Bank AG Deutsche Zen    5.50 12/23/2016    EUR     74.62
Lehman Brothers Treasur    0.50   8/1/2020    EUR      0.75
Vontobel Financial Prod   11.00 12/23/2016    EUR     68.99
Vontobel Financial Prod   13.00 12/23/2016    EUR     66.17
Lehman Brothers Treasur    6.00   8/7/2013    EUR      0.75
Lehman Brothers Treasur   14.10 11/12/2008    USD      0.75
Vontobel Financial Prod   16.55 12/23/2016    EUR     47.58
Vontobel Financial Prod   16.50 11/25/2016    EUR     47.11
Vontobel Financial Prod   19.00 11/25/2016    EUR     45.83
DZ Bank AG Deutsche Zen    7.25 12/19/2016    EUR     67.74
Landesbank Baden-Wuertt    5.00 12/23/2016    EUR     55.54
Landesbank Baden-Wuertt    4.00 12/23/2016    EUR     57.46
Credit Suisse AG/Nassau    7.13  6/26/2017    CHF     63.12
Lehman Brothers Treasur    2.30   6/6/2013    USD      0.75
Vontobel Financial Prod    6.50 12/23/2016    EUR     73.23
Vontobel Financial Prod   18.00 12/23/2016    EUR     60.07
Vontobel Financial Prod   11.50 12/23/2016    EUR     65.48
DZ Bank AG Deutsche Zen    7.40 12/19/2016    EUR     70.44
DZ Bank AG Deutsche Zen    6.60  3/20/2017    EUR     71.50
DZ Bank AG Deutsche Zen    5.00  3/20/2017    EUR     65.82
Lehman Brothers Treasur    8.80 12/27/2009    EUR      0.75
Lehman Brothers Treasur   11.00 12/20/2017    AUD      0.75
Lehman Brothers Treasur    4.00   1/4/2011    USD      0.75
Lehman Brothers Treasur    9.30 12/21/2010    EUR      0.75
Lehman Brothers Treasur    0.50 12/20/2017    USD      0.75
Lehman Brothers Treasur    0.50 12/20/2017    USD      0.75
Goldman Sachs & Co Wert   17.00  1/25/2017    EUR     71.99
Lehman Brothers Treasur    5.38   2/4/2014    USD      0.75
Lehman Brothers Treasur   13.00  2/16/2009    CHF      0.75
UBS AG/London             16.40 11/11/2016    EUR     63.11
Deutsche Bank AG           8.20  3/21/2017    EUR     72.30
Immigon Portfolioabbau     5.21  2/13/2026    EUR     71.75
HSBC Trinkaus & Burkhar    4.00  6/16/2017    EUR     53.18
Lehman Brothers Treasur    1.00  2/26/2010    USD      0.75
Vontobel Financial Prod    4.00  11/9/2017    EUR     55.57
Lehman Brothers Treasur    8.00 10/17/2014    EUR      0.75
Bank Julius Baer & Co L   10.60  12/9/2016    CHF     59.05
DZ Bank AG Deutsche Zen    6.00 12/23/2016    EUR     72.27
HSBC Trinkaus & Burkhar   13.70 12/23/2016    EUR     73.44
HSBC Trinkaus & Burkhar   11.60 12/23/2016    EUR     72.78
HSBC Trinkaus & Burkhar    9.20  6/23/2017    EUR     65.42
HSBC Trinkaus & Burkhar   11.50 12/23/2016    EUR     74.99
HSBC Trinkaus & Burkhar   12.60  3/24/2017    EUR     66.02
HSBC Trinkaus & Burkhar    9.40  1/27/2017    EUR     69.79
HSBC Trinkaus & Burkhar   14.40 12/23/2016    EUR     63.34
Lehman Brothers Treasur    9.50   4/1/2018    USD      0.75
Landesbank Baden-Wuertt    3.60 11/22/2019    EUR     73.65
Leonteq Securities AG      8.00 12/14/2016    EUR     69.43
Lehman Brothers Treasur    6.45  2/20/2010    AUD      0.75
Goldman Sachs & Co Wert   21.00 11/23/2016    EUR     71.39
Goldman Sachs & Co Wert   18.00  1/25/2017    EUR     74.12
Lehman Brothers Treasur    3.45  5/23/2013    USD      0.75
Goldman Sachs & Co Wert   15.00  1/25/2017    EUR     70.31
Goldman Sachs & Co Wert    8.00  1/25/2017    EUR     72.57
Goldman Sachs & Co Wert   19.00  1/25/2017    EUR     58.93
Goldman Sachs & Co Wert    8.00 12/20/2017    EUR     70.91
Goldman Sachs & Co Wert   12.00 12/20/2017    EUR     66.48
Lehman Brothers Treasur   11.00 12/20/2017    AUD      0.75
Lehman Brothers Treasur    0.50 12/20/2017    AUD      0.75
Lehman Brothers Treasur    0.50 12/20/2017    AUD      0.75
Lehman Brothers Treasur    0.50 12/20/2017    AUD      0.75
Lehman Brothers Treasur    8.00 12/31/2010    USD      0.75
Lehman Brothers Treasur    0.50 12/20/2017    USD      0.75
Lehman Brothers Treasur    0.50 12/20/2017    USD      0.75
Lehman Brothers Treasur   10.00  2/16/2009    CHF      0.75
UBS AG/London             12.70  5/12/2017    EUR     73.81
Lehman Brothers Treasur    7.00  2/15/2010    CHF      0.75
Vontobel Financial Prod   20.45  10/5/2016    EUR     63.32
Lehman Brothers Treasur    8.00  3/21/2018    USD      0.75
DZ Bank AG Deutsche Zen    7.00 12/23/2016    EUR     74.61
DZ Bank AG Deutsche Zen    9.10 12/23/2016    EUR     73.06
DZ Bank AG Deutsche Zen   11.10 12/23/2016    EUR     64.61
DZ Bank AG Deutsche Zen    8.60 12/23/2016    EUR     64.21
HSBC Trinkaus & Burkhar   11.60  3/24/2017    EUR     73.15
HSBC Trinkaus & Burkhar   10.40  1/27/2017    EUR     63.55
HSBC Trinkaus & Burkhar   11.80  3/24/2017    EUR     74.54
HSBC Trinkaus & Burkhar    7.60  3/24/2017    EUR     73.38
Lehman Brothers Treasur    7.05   4/8/2015    USD      0.75
Lehman Brothers Treasur    7.80  3/31/2018    USD      0.75
HSBC Trinkaus & Burkhar   11.40 12/23/2016    EUR     69.23
Lehman Brothers Treasur    6.00   3/4/2015    USD      0.75
Lehman Brothers Treasur    7.15  3/21/2013    USD      0.75
Lehman Brothers Treasur    3.50  6/20/2011    EUR      0.75
Vontobel Financial Prod   14.15 12/23/2016    EUR     66.84
Vontobel Financial Prod    9.55 12/23/2016    EUR     72.79
Lehman Brothers Treasur    7.60  1/31/2013    AUD      0.75
Lehman Brothers Treasur    5.50  6/22/2010    USD     11.88
Lehman Brothers Treasur   10.00 10/22/2008    USD      0.75
Lehman Brothers Treasur    6.60  5/23/2012    AUD      0.75
Goldman Sachs & Co Wert   19.00  1/25/2017    EUR     67.28
Goldman Sachs & Co Wert   12.00 12/20/2017    EUR     74.78
Goldman Sachs & Co Wert   13.00  1/25/2017    EUR     72.93
Goldman Sachs & Co Wert   17.00  1/25/2017    EUR     68.53
Goldman Sachs & Co Wert    7.00  1/25/2017    EUR     73.76
Goldman Sachs & Co Wert   15.00  1/25/2017    EUR     62.37
Goldman Sachs & Co Wert    6.00 12/20/2017    EUR     74.12
Goldman Sachs & Co Wert   10.00 12/20/2017    EUR     68.37
UBS AG                     5.00 12/22/2017    EUR     66.44
UBS AG                     7.00 12/23/2016    EUR     38.85
UBS AG                     4.50 12/22/2017    EUR     42.70
DekaBank Deutsche Giroz    3.40   4/9/2018    EUR     41.32
UBS AG                     9.50 12/23/2016    EUR     41.72
UBS AG                    10.25 12/23/2016    EUR     30.85
UniCredit Bank AG          4.10  9/28/2018    EUR     60.47
DekaBank Deutsche Giroz    3.10   5/5/2017    EUR     55.73
DekaBank Deutsche Giroz    3.00  4/16/2018    EUR     68.37
UBS AG/London              5.00  8/14/2017    CHF     51.00
Landesbank Baden-Wuertt    3.60  6/23/2017    EUR     64.09
UBS AG/London             13.75 12/23/2016    EUR     57.28
DekaBank Deutsche Giroz    3.15  5/18/2018    EUR     61.01
Notenstein La Roche Pri    6.50   7/2/2018    USD     56.75
DekaBank Deutsche Giroz    3.00  6/12/2018    EUR     59.31
UBS AG                     9.00   7/3/2017    CHF     64.94
EFG International Finan    5.00  8/15/2017    CHF     60.39
UBS AG/London              4.25 12/23/2016    EUR     60.02
UBS AG/London              4.50 12/22/2017    EUR     56.75
UBS AG/London              7.50 12/23/2016    EUR     61.95
UBS AG/London              6.00 12/23/2016    EUR     46.90
UBS AG/London              7.00 12/22/2017    EUR     66.64
UBS AG/London             13.25 12/23/2016    EUR     71.05
UBS AG/London              7.00 12/22/2017    EUR     49.37
UBS AG/London             14.00 12/23/2016    EUR     38.12
UBS AG/London             11.00 12/23/2016    EUR     38.26
UBS AG/London              5.00 12/23/2016    EUR     50.59
UBS AG/London              4.00 12/22/2017    EUR     55.90
UBS AG/London              4.00 12/22/2017    EUR     62.10
UBS AG/London              5.50 12/23/2016    EUR     48.66
UBS AG/London              6.75 12/23/2016    EUR     52.57
UBS AG/London             12.25 12/23/2016    EUR     36.50
UBS AG/London             12.50 12/22/2017    EUR     72.83
UBS AG/London              9.50 12/22/2017    EUR     57.69
UBS AG/London              4.25 12/23/2016    EUR     52.64
UBS AG/London              9.00 12/22/2017    EUR     46.88
UBS AG/London              5.00 12/23/2016    EUR     41.66
UBS AG/London              8.25 12/23/2016    EUR     42.62
UBS AG/London              6.75 12/23/2016    EUR     45.35
UBS AG/London              5.75 12/22/2017    EUR     52.40
UBS AG/London              5.00 12/22/2017    EUR     59.39
UBS AG/London              6.25 12/22/2017    EUR     51.45
UBS AG/London              9.00 12/23/2016    EUR     57.12
UBS AG/London              5.00 12/22/2017    EUR     55.29
UBS AG/London              5.50 12/23/2016    EUR     73.43
UBS AG/London              7.75 12/22/2017    EUR     53.29
EFG International Finan    5.00  8/15/2017    CHF     73.57
Notenstein La Roche Pri    5.00  8/29/2018    CHF     59.01
JP Morgan Structured Pr    4.05  8/29/2017    EUR     33.02
Leonteq Securities AG/G    4.40  8/28/2017    CHF     68.20
Notenstein La Roche Pri    5.04  8/28/2017    CHF     68.38
Notenstein La Roche Pri    5.00   9/5/2018    CHF     60.77
Leonteq Securities AG/G    4.68  8/29/2017    CHF     70.87
Leonteq Securities AG      6.00  9/26/2016    CHF     54.31
Leonteq Securities AG      7.20  9/26/2016    EUR     66.40
Credit Suisse AG/Nassau    6.25  9/26/2016    CHF     54.14
Notenstein La Roche Pri    7.50  9/26/2016    EUR     71.17
Notenstein La Roche Pri    7.00  9/26/2016    CHF     74.73
Notenstein La Roche Pri    7.00  9/26/2016    CHF     56.59
Notenstein La Roche Pri    6.50  9/26/2016    CHF     72.27
Notenstein La Roche Pri    5.50  9/26/2016    CHF     49.27
Notenstein La Roche Pri    5.00  9/26/2016    CHF     50.24
Goldman Sachs & Co Wert    3.00  1/25/2017    EUR     63.93
Goldman Sachs & Co Wert    4.00  1/25/2017    EUR     61.00
Goldman Sachs & Co Wert    6.00  1/25/2017    EUR     56.03
Goldman Sachs & Co Wert    8.00  1/25/2017    EUR     52.01
Goldman Sachs & Co Wert   14.00  1/25/2017    EUR     46.70
Goldman Sachs & Co Wert    3.00 12/20/2017    EUR     67.98
Goldman Sachs & Co Wert    3.00 12/20/2017    EUR     71.03
Goldman Sachs & Co Wert    5.00 12/20/2017    EUR     59.77
Goldman Sachs & Co Wert    6.00 12/20/2017    EUR     58.75
Goldman Sachs & Co Wert    7.00 12/20/2017    EUR     55.94
Goldman Sachs & Co Wert    8.00 12/20/2017    EUR     55.36
Goldman Sachs & Co Wert   11.00 12/20/2017    EUR     52.98
Goldman Sachs & Co Wert    3.00 12/20/2017    EUR     65.07
Goldman Sachs & Co Wert   15.00  1/25/2017    EUR     74.61
Goldman Sachs & Co Wert   18.00  1/25/2017    EUR     71.29
Lehman Brothers Treasur   17.00   6/2/2009    USD      0.75
Lehman Brothers Treasur   23.30  9/16/2008    USD      0.75
Lehman Brothers Treasur    3.00   6/3/2010    EUR      0.75
Leonteq Securities AG      8.80  6/21/2017    CHF     68.23
Lehman Brothers Treasur   10.00  6/17/2009    USD      0.75
Strommen Sparebank         2.28               NOK     35.28
Commerzbank AG             3.60 12/14/2016    EUR     61.28
Commerzbank AG             3.70  6/14/2017    EUR     62.66
Lehman Brothers Treasur   11.00   7/4/2011    CHF      0.75
DZ Bank AG Deutsche Zen    5.00 12/12/2016    EUR     52.38
DZ Bank AG Deutsche Zen    6.20 12/19/2016    EUR     72.82
Lehman Brothers Treasur   16.00 12/26/2008    USD      0.75
Lehman Brothers Treasur    0.50   7/2/2020    EUR      0.75
DZ Bank AG Deutsche Zen    7.25 12/23/2016    EUR     46.44
Lehman Brothers Treasur   13.15 10/30/2008    USD      0.75
Zurcher Kantonalbank Fi    8.50 12/22/2016    CHF     71.74
Vontobel Financial Prod   15.50 12/23/2016    EUR     63.77
Lehman Brothers Treasur    6.25   9/5/2011    EUR      0.75
Notenstein La Roche Pri    9.68  6/15/2017    CHF     67.19
Vontobel Financial Prod   15.50 12/23/2016    EUR     48.19
Vontobel Financial Prod   14.50 11/25/2016    EUR     48.60
DZ Bank AG Deutsche Zen    7.25 12/19/2016    EUR     51.57
DZ Bank AG Deutsche Zen    8.00 12/23/2016    EUR     74.64
Lehman Brothers Treasur    5.25   7/8/2014    EUR      0.75
Landesbank Baden-Wuertt    6.00 12/23/2016    EUR     73.78
Lehman Brothers Treasur    4.00  8/11/2010    USD     11.88
Landesbank Baden-Wuertt    3.00 12/23/2016    EUR     60.03
Lehman Brothers Treasur    7.50  5/30/2010    AUD      0.75
Lehman Brothers Treasur    4.30   6/4/2012    USD      0.75
Lehman Brothers Treasur    4.00   6/5/2011    USD      0.75
Vontobel Financial Prod   21.00 12/23/2016    EUR     57.85
Vontobel Financial Prod    8.55 12/23/2016    EUR     68.96
DZ Bank AG Deutsche Zen    5.60  3/20/2017    EUR     73.11
DZ Bank AG Deutsche Zen    5.10 12/19/2016    EUR     58.93
DZ Bank AG Deutsche Zen    6.30 12/19/2016    EUR     57.27
DZ Bank AG Deutsche Zen    5.50  3/20/2017    EUR     64.04
BAWAG PSK Versicherungs    1.33               EUR     46.07
Leonteq Securities AG     10.60 12/29/2016    EUR     43.94
UBS AG                     5.00 12/23/2016    EUR     38.33
UBS AG                     9.00 12/23/2016    EUR     30.52
UBS AG                     5.00 12/22/2017    EUR     48.53
UBS AG                     4.75 12/22/2017    EUR     71.25
Landesbank Baden-Wuertt    3.05  6/22/2018    EUR     52.61
HSBC Trinkaus & Burkhar    6.00  12/6/2016    EUR     51.70
Landesbank Baden-Wuertt    4.00  6/23/2017    EUR     71.03
UBS AG/London             11.75 12/23/2016    EUR     71.70
DekaBank Deutsche Giroz    3.65  5/18/2018    EUR     65.45
Credit Suisse AG/London    7.00 11/23/2016    CHF     74.24
Vontobel Financial Prod   14.50 12/23/2016    EUR     72.14
Credit Suisse AG/London    7.25 11/23/2016    CHF     58.31
Commerzbank AG            12.50 10/27/2016    EUR     73.90
Commerzbank AG            10.25 10/27/2016    EUR     73.19
Commerzbank AG            12.50 10/27/2016    EUR     69.76
DZ Bank AG Deutsche Zen    5.00 11/25/2016    EUR     59.20
Vontobel Financial Prod    3.05 10/28/2016    EUR     56.93
Vontobel Financial Prod    5.05 10/28/2016    EUR     51.95
Vontobel Financial Prod    4.00 12/23/2016    EUR     54.96
Vontobel Financial Prod    5.00 12/23/2016    EUR     52.75
Vontobel Financial Prod    6.05 12/23/2016    EUR     50.76
Vontobel Financial Prod    7.15 12/23/2016    EUR     48.97
Vontobel Financial Prod    8.50 12/23/2016    EUR     47.40
Vontobel Financial Prod   10.00 12/23/2016    EUR     46.01
Vontobel Financial Prod   10.00 11/25/2016    EUR     65.53
Landesbank Baden-Wuertt    2.00 11/25/2016    EUR     57.37
Landesbank Baden-Wuertt    3.00 11/25/2016    EUR     53.91
Landesbank Baden-Wuertt    4.00 11/25/2016    EUR     51.90
Landesbank Baden-Wuertt    4.50 11/25/2016    EUR     69.99
Landesbank Baden-Wuertt    5.00 11/25/2016    EUR     49.85
Deutsche Bank AG           6.50 12/20/2016    EUR     48.62
DZ Bank AG Deutsche Zen    5.80 12/19/2016    EUR     68.93
DZ Bank AG Deutsche Zen    4.70 12/19/2016    EUR     52.70
Vontobel Financial Prod   14.00 12/23/2016    EUR     72.99
UniCredit Bank AG          5.05 12/22/2016    EUR     74.66
UniCredit Bank AG          5.15 12/22/2016    EUR     73.26
UniCredit Bank AG          5.10 12/22/2016    EUR     73.95
UniCredit Bank AG          5.20 12/22/2016    EUR     72.56
UBS AG/London              7.00 11/18/2016    CHF     73.14
Goldman Sachs & Co Wert   19.00 10/26/2016    EUR     70.04
Goldman Sachs & Co Wert   18.00 11/23/2016    EUR     71.41
Goldman Sachs & Co Wert   23.00 11/23/2016    EUR     66.51
Goldman Sachs & Co Wert   21.00 12/21/2016    EUR     67.76
Goldman Sachs & Co Wert   16.00  6/21/2017    EUR     72.71
Goldman Sachs & Co Wert   22.00 10/26/2016    EUR     74.17
HSBC Trinkaus & Burkhar   11.10  3/24/2017    EUR     62.71
HSBC Trinkaus & Burkhar    7.90  6/23/2017    EUR     67.26
HSBC Trinkaus & Burkhar    8.60  1/27/2017    EUR     65.92
HSBC Trinkaus & Burkhar    9.70 12/23/2016    EUR     47.79
HSBC Trinkaus & Burkhar    6.80 12/23/2016    EUR     51.04
HSBC Trinkaus & Burkhar    7.00  6/23/2017    EUR     52.40
HSBC Trinkaus & Burkhar    7.90  1/27/2017    EUR     50.00
HSBC Trinkaus & Burkhar   14.50 12/23/2016    EUR     65.91
HSBC Trinkaus & Burkhar   12.70  3/24/2017    EUR     68.58
HSBC Trinkaus & Burkhar   10.50  3/24/2017    EUR     71.72
HSBC Trinkaus & Burkhar    9.60  1/27/2017    EUR     72.98
Leonteq Securities AG     14.00 11/30/2016    CHF     65.05
Leonteq Securities AG     10.20 11/30/2016    CHF     61.30
Bank Julius Baer & Co L    6.00 11/25/2016    EUR     73.90
DZ Bank AG Deutsche Zen    5.70 12/19/2016    EUR     55.43
DZ Bank AG Deutsche Zen    5.40  3/20/2017    EUR     56.67
DZ Bank AG Deutsche Zen    6.00  3/20/2017    EUR     55.16
DZ Bank AG Deutsche Zen    6.50  3/20/2017    EUR     72.17
DZ Bank AG Deutsche Zen    7.30  3/20/2017    EUR     70.42
Vontobel Financial Prod    9.00 12/23/2016    EUR     62.52
Vontobel Financial Prod   10.00 12/23/2016    EUR     74.23
Vontobel Financial Prod    8.00 12/23/2016    EUR     73.71
Zurcher Kantonalbank Fi   10.00  12/1/2016    EUR     70.72
DZ Bank AG Deutsche Zen   10.00 12/23/2016    EUR     74.65
DZ Bank AG Deutsche Zen   10.00 12/23/2016    EUR     70.40
DZ Bank AG Deutsche Zen    4.00 12/23/2016    EUR     61.40
DZ Bank AG Deutsche Zen    6.00 12/23/2016    EUR     61.87
DZ Bank AG Deutsche Zen    8.00 12/23/2016    EUR     59.83
DZ Bank AG Deutsche Zen    4.00  3/24/2017    EUR     62.26
DZ Bank AG Deutsche Zen    6.00  3/24/2017    EUR     63.24
DZ Bank AG Deutsche Zen    6.00 12/23/2016    EUR     49.08
DZ Bank AG Deutsche Zen    8.00 12/23/2016    EUR     66.01
DZ Bank AG Deutsche Zen    7.40 11/23/2016    EUR     52.11
DZ Bank AG Deutsche Zen    7.00 11/25/2016    EUR     68.47
DZ Bank AG Deutsche Zen   12.00 11/25/2016    EUR     62.33
DZ Bank AG Deutsche Zen    6.25 11/25/2016    EUR     53.10
DZ Bank AG Deutsche Zen    9.75 11/25/2016    EUR     49.12
DZ Bank AG Deutsche Zen    7.75 12/23/2016    EUR     49.39
DZ Bank AG Deutsche Zen    6.25  3/24/2017    EUR     50.59
DZ Bank AG Deutsche Zen    5.25 12/23/2016    EUR     52.21
DZ Bank AG Deutsche Zen    5.00  3/24/2017    EUR     54.51
DZ Bank AG Deutsche Zen    8.00 11/25/2016    EUR     72.85
DZ Bank AG Deutsche Zen   14.75 11/25/2016    EUR     67.93
DZ Bank AG Deutsche Zen   10.75 11/25/2016    EUR     68.13
Bank Julius Baer & Co L    6.85  12/5/2016    CHF     60.15
Notenstein La Roche Pri    7.11 11/25/2016    EUR     48.30
Credit Suisse AG/Nassau    8.00  12/5/2016    EUR     72.69
DZ Bank AG Deutsche Zen    7.25 12/19/2016    EUR     48.16
DZ Bank AG Deutsche Zen    8.00 12/19/2016    EUR     74.83
DZ Bank AG Deutsche Zen    7.00 12/19/2016    EUR     74.60
DZ Bank AG Deutsche Zen    9.25 12/19/2016    EUR     48.62
DZ Bank AG Deutsche Zen    7.25 12/19/2016    EUR     62.09
Rosbank PJSC               0.02  4/30/2024    RUB     60.06
Vontobel Financial Prod    6.50 12/23/2016    EUR     49.35
Commerzbank AG             8.50 12/22/2016    EUR     53.01
DZ Bank AG Deutsche Zen    5.00 12/29/2016    EUR     63.20
Landesbank Baden-Wuertt    3.00  6/23/2017    EUR     66.23
Commerzbank AG             7.75 12/22/2016    EUR     72.29
Commerzbank AG             5.75 12/22/2016    EUR     53.92
Commerzbank AG             7.25 12/22/2016    EUR     51.24
Commerzbank AG            10.50 12/22/2016    EUR     46.79
Commerzbank AG            11.75 12/22/2016    EUR     72.69
DZ Bank AG Deutsche Zen    5.25  1/27/2017    EUR     73.19
Bank Julius Baer & Co L   11.60   1/5/2017    CHF     41.85
Lehman Brothers Treasur    5.12  4/30/2027    EUR      0.75
Lehman Brothers Treasur    7.75  2/21/2016    EUR      0.75
UBS AG/London             12.50   1/3/2017    CHF     59.65
Lehman Brothers Treasur    8.00 12/27/2032    JPY      0.75
DZ Bank AG Deutsche Zen    5.25  3/24/2017    EUR     73.31
DZ Bank AG Deutsche Zen    9.50  1/27/2017    EUR     68.53
DZ Bank AG Deutsche Zen    6.75  3/24/2017    EUR     53.11
DZ Bank AG Deutsche Zen    5.80  1/25/2017    EUR     57.39
DZ Bank AG Deutsche Zen   10.00 12/23/2016    EUR     73.29
Lehman Brothers Treasur    0.01  9/20/2011    USD      0.75
Vontobel Financial Prod   22.05 12/23/2016    EUR     45.76
Vontobel Financial Prod   10.00 11/25/2016    EUR     54.34
Vontobel Financial Prod    3.55 11/25/2016    EUR     67.23
Vontobel Financial Prod    4.50 11/25/2016    EUR     63.70
Vontobel Financial Prod    5.50 11/25/2016    EUR     60.55
Vontobel Financial Prod    8.50 11/25/2016    EUR     56.67
Vontobel Financial Prod    5.00 12/23/2016    EUR     62.45
Vontobel Financial Prod    3.50 12/23/2016    EUR     67.43
Vontobel Financial Prod    8.00 12/23/2016    EUR     57.24
Vontobel Financial Prod   11.55 12/23/2016    EUR     53.18
Vontobel Financial Prod   14.55 12/23/2016    EUR     50.74
DZ Bank AG Deutsche Zen    8.70 12/23/2016    EUR     74.33
DZ Bank AG Deutsche Zen    9.30  3/24/2017    EUR     73.30
DZ Bank AG Deutsche Zen    7.40 12/23/2016    EUR     58.40
DZ Bank AG Deutsche Zen    6.60  3/24/2017    EUR     59.78
DZ Bank AG Deutsche Zen    7.80  3/24/2017    EUR     58.13
Vontobel Financial Prod    8.50 12/23/2016    EUR     69.15
Vontobel Financial Prod   10.50 12/23/2016    EUR     52.93
DZ Bank AG Deutsche Zen    4.00  3/24/2017    EUR     55.20
Lehman Brothers Treasur   13.00 12/14/2012    USD      0.75
DZ Bank AG Deutsche Zen    7.00 12/19/2016    EUR     69.56
DZ Bank AG Deutsche Zen    8.25 12/19/2016    EUR     55.19
Lehman Brothers Treasur    5.25   4/1/2023    EUR      0.75
WGZ-Bank AG Westdeutsch    5.00   6/6/2017    EUR     52.10
Commerzbank AG             8.75 12/22/2016    EUR     72.63
Commerzbank AG            10.25 12/22/2016    EUR     70.07
Commerzbank AG            12.00 12/22/2016    EUR     67.84
Commerzbank AG             4.75 12/22/2016    EUR     59.50
Commerzbank AG             6.75 12/22/2016    EUR     56.24
Commerzbank AG             7.50 12/22/2016    EUR     55.28
Commerzbank AG            10.00 12/22/2016    EUR     74.50
Commerzbank AG            11.75 12/22/2016    EUR     71.31
Commerzbank AG            11.75 12/22/2016    EUR     71.96
UBS AG/London              6.50  3/24/2017    EUR     59.92
UBS AG/London              7.50  3/24/2017    EUR     74.82
UBS AG/London              9.50  3/24/2017    EUR     71.39
Goldman Sachs & Co Wert    9.00 12/20/2017    EUR     61.93
Goldman Sachs & Co Wert   24.00 11/23/2016    EUR     69.07
Goldman Sachs & Co Wert   24.00 10/26/2016    EUR     45.54
Goldman Sachs & Co Wert   22.00  1/25/2017    EUR     68.79
Vontobel Financial Prod   12.00 11/25/2016    EUR     52.32
Vontobel Financial Prod   14.00 11/25/2016    EUR     50.49
Vontobel Financial Prod    6.55 12/23/2016    EUR     59.71
Vontobel Financial Prod    4.00 11/25/2016    EUR     65.41
Vontobel Financial Prod    5.00 11/25/2016    EUR     62.08
Vontobel Financial Prod    6.60 11/25/2016    EUR     59.20
Vontobel Financial Prod    5.60 12/23/2016    EUR     61.00
Vontobel Financial Prod    4.50 12/23/2016    EUR     64.02
Vontobel Financial Prod    4.05 12/23/2016    EUR     65.69
Vontobel Financial Prod    9.50 12/23/2016    EUR     55.03
Vontobel Financial Prod   13.50 12/23/2016    EUR     51.50
WGZ-Bank AG Westdeutsch    2.75  3/29/2017    EUR     71.90
WGZ-Bank AG Westdeutsch    5.50  3/29/2017    EUR     72.43
DZ Bank AG Deutsche Zen   10.60 12/23/2016    EUR     71.69
DZ Bank AG Deutsche Zen   11.00  3/24/2017    EUR     71.16
DZ Bank AG Deutsche Zen    9.00 12/23/2016    EUR     56.51
DZ Bank AG Deutsche Zen    5.30 12/19/2016    EUR     61.35
DZ Bank AG Deutsche Zen    5.20  3/20/2017    EUR     62.49
EFG International Finan    8.32 12/21/2016    CHF     66.44
Lehman Brothers Treasur    6.70  4/21/2011    USD      0.75
Lehman Brothers Treasur    3.00  9/12/2036    JPY     11.88
Lehman Brothers Treasur    4.82 12/18/2036    EUR      0.75
WGZ-Bank AG Westdeutsch    6.50  3/29/2017    EUR     69.81
EFG International Finan    9.65 12/22/2016    EUR     55.72
Commerzbank AG             8.00 12/22/2016    EUR     73.96
Commerzbank AG             9.50 12/22/2016    EUR     71.36
Commerzbank AG            11.25 12/22/2016    EUR     68.96
Commerzbank AG             4.25 12/22/2016    EUR     60.73
Commerzbank AG             5.25 12/22/2016    EUR     58.33
Commerzbank AG             6.00 12/22/2016    EUR     57.24
Commerzbank AG             8.25 12/22/2016    EUR     54.37
Commerzbank AG             9.00 12/22/2016    EUR     53.50
UBS AG/London              7.00 12/23/2016    EUR     49.24
UBS AG/London              9.75  3/24/2017    EUR     47.72
UBS AG/London              7.00  3/24/2017    EUR     51.00
UBS AG/London              9.00  3/24/2017    EUR     74.02
UBS AG/London              7.00 12/23/2016    EUR     58.47
Goldman Sachs & Co Wert   10.00  1/25/2017    EUR     54.79
Goldman Sachs & Co Wert    7.00  3/22/2017    EUR     54.84
Goldman Sachs & Co Wert   21.00 12/21/2016    EUR     48.54
DZ Bank AG Deutsche Zen    6.00 12/23/2016    EUR     46.70
DZ Bank AG Deutsche Zen    5.25  3/24/2017    EUR     48.97
Deutsche Bank AG           6.20 10/26/2016    EUR     66.70
Deutsche Bank AG           6.20 10/26/2016    EUR     63.40
Deutsche Bank AG           4.20 10/26/2016    EUR     63.20
Deutsche Bank AG           6.20 10/26/2016    EUR     60.40
Deutsche Bank AG           6.20 11/23/2016    EUR     67.20
Deutsche Bank AG           4.20 11/23/2016    EUR     66.80
Deutsche Bank AG           4.20 11/23/2016    EUR     63.50
Deutsche Bank AG           6.20 11/23/2016    EUR     63.90
Deutsche Bank AG           6.20 11/23/2016    EUR     60.90
Deutsche Bank AG           6.20 10/26/2016    EUR     46.00
Deutsche Bank AG           3.20 10/26/2016    EUR     66.40
Deutsche Bank AG           3.20 11/23/2016    EUR     70.30
Deutsche Bank AG           3.20 11/23/2016    EUR     66.70
Deutsche Bank AG           3.20 11/23/2016    EUR     54.70
Deutsche Bank AG           3.20 11/23/2016    EUR     52.20
Deutsche Bank AG           3.20 11/23/2016    EUR     50.00
Deutsche Bank AG           7.20 10/26/2016    EUR     60.50
Deutsche Bank AG           7.20 11/23/2016    EUR     61.00
Deutsche Bank AG           7.20 12/20/2016    EUR     61.60
Deutsche Bank AG           7.20  3/21/2017    EUR     63.30
Deutsche Bank AG           7.20 10/26/2016    EUR     46.10
Deutsche Bank AG           7.20 11/23/2016    EUR     46.70
Deutsche Bank AG           9.20 10/26/2016    EUR     60.70
Deutsche Bank AG           9.20 11/23/2016    EUR     61.40
Deutsche Bank AG           9.20 12/20/2016    EUR     62.10
Deutsche Bank AG           9.20  3/21/2017    EUR     64.30
Deutsche Bank AG           9.20 10/26/2016    EUR     44.60
Deutsche Bank AG           9.20 11/23/2016    EUR     45.30
Deutsche Bank AG           9.20  3/21/2017    EUR     48.30
DZ Bank AG Deutsche Zen    7.00 12/23/2016    EUR     74.68
HSBC Trinkaus & Burkhar   14.00 12/23/2016    EUR     70.04
HSBC Trinkaus & Burkhar   12.00 12/23/2016    EUR     72.70
HSBC Trinkaus & Burkhar   10.90 10/28/2016    EUR     74.27
Bank Julius Baer & Co L   12.60 11/17/2016    CHF     33.75
Vontobel Financial Prod    9.65 12/23/2016    EUR     62.37
Vontobel Financial Prod    8.05 12/23/2016    EUR     64.98
Vontobel Financial Prod    6.50 12/23/2016    EUR     67.91
DZ Bank AG Deutsche Zen    7.00 12/19/2016    EUR     74.60
DZ Bank AG Deutsche Zen    7.00 12/19/2016    EUR     60.15
Goldman Sachs & Co Wert   21.00 11/23/2016    EUR     64.25
Goldman Sachs & Co Wert   18.00 11/23/2016    EUR     55.41
Goldman Sachs & Co Wert   21.00 12/21/2016    EUR     53.47
Goldman Sachs & Co Wert   21.00 11/23/2016    EUR     38.76
Goldman Sachs & Co Wert   22.00 11/23/2016    EUR     64.96
Goldman Sachs & Co Wert   21.00 12/21/2016    EUR     66.40
Deutsche Bank AG           5.20 10/26/2016    EUR     70.30
Deutsche Bank AG           5.20 10/26/2016    EUR     66.60
Deutsche Bank AG           5.20 10/26/2016    EUR     60.30
Deutsche Bank AG           5.20 11/23/2016    EUR     70.70
Deutsche Bank AG           5.20 11/23/2016    EUR     67.00
Deutsche Bank AG           5.20 11/23/2016    EUR     60.70
Deutsche Bank AG           5.20  3/21/2017    EUR     62.30
Deutsche Bank AG           5.20 10/26/2016    EUR     47.80
Deutsche Bank AG           5.20 10/26/2016    EUR     46.00
Deutsche Bank AG           5.20 11/23/2016    EUR     48.20
Deutsche Bank AG           5.20 11/23/2016    EUR     46.30
Deutsche Bank AG           5.20  3/21/2017    EUR     56.70
Deutsche Bank AG           5.20 10/26/2016    EUR     74.90
Deutsche Bank AG           5.50 12/20/2016    EUR     74.00
Deutsche Bank AG           6.50 12/20/2016    EUR     74.30
Deutsche Bank AG           6.50 12/20/2016    EUR     70.80
Deutsche Bank AG           5.50 12/20/2016    EUR     70.60
Deutsche Bank AG           5.50  3/21/2017    EUR     71.80
Deutsche Bank AG           6.50  3/21/2017    EUR     72.30
Deutsche Bank AG           6.50 12/20/2016    EUR     73.50
Deutsche Bank AG           5.50 12/20/2016    EUR     73.30
Bank Julius Baer & Co L   11.35 11/18/2016    CHF     36.30
Bank Julius Baer & Co L    7.10 11/18/2016    EUR     61.65
Bank Julius Baer & Co L    5.50 11/18/2016    CHF     74.10
UBS AG/London              9.00 11/11/2016    CHF     48.39
Vontobel Financial Prod   10.50 10/28/2016    EUR     73.91
Vontobel Financial Prod   11.00 12/23/2016    EUR     72.88
Vontobel Financial Prod   13.00 12/23/2016    EUR     70.76
Leonteq Securities AG      7.40 11/20/2017    EUR     63.03
Property Lease Fund SA     9.00 12/23/2016    PLN     42.00
Bank J Safra Sarasin AG    8.30 11/11/2016    CHF     72.73
Credit Suisse AG/Nassau    8.00 11/24/2016    CHF     70.31
Vontobel Financial Prod   12.00 12/23/2016    EUR     43.37
Vontobel Financial Prod   10.50 12/23/2016    EUR     44.51
Vontobel Financial Prod    9.00 12/23/2016    EUR     48.39
Vontobel Financial Prod    7.00 12/23/2016    EUR     73.91
Vontobel Financial Prod    6.50 12/23/2016    EUR     74.26
Vontobel Financial Prod   12.55 12/23/2016    EUR     74.84
Vontobel Financial Prod   15.00 12/23/2016    EUR     72.17
Vontobel Financial Prod   16.00 12/23/2016    EUR     74.32
UniCredit Bank AG          7.00 12/28/2016    EUR     67.78
Commerzbank AG             8.50 11/24/2016    EUR     74.36
Commerzbank AG             8.50 11/24/2016    EUR     48.97
Commerzbank AG            13.50 10/27/2016    EUR     74.52
Deutsche Bank AG           5.20  6/20/2017    EUR     75.00
Deutsche Bank AG           5.20  6/20/2017    EUR     74.50
Deutsche Bank AG           7.20  6/20/2017    EUR     72.60
Deutsche Bank AG           5.20  6/20/2017    EUR     71.10
Deutsche Bank AG           7.20  6/20/2017    EUR     69.40
Deutsche Bank AG           5.20  6/20/2017    EUR     67.90
Deutsche Bank AG           5.20  6/20/2017    EUR     64.90
Deutsche Bank AG           7.20  6/20/2017    EUR     66.40
Deutsche Bank AG           5.20  6/20/2017    EUR     62.10
Deutsche Bank AG           7.20  6/20/2017    EUR     63.60
Deutsche Bank AG           5.20  3/21/2017    EUR     59.30
Deutsche Bank AG           7.20  3/21/2017    EUR     60.30
Deutsche Bank AG           7.20  3/21/2017    EUR     57.70
Deutsche Bank AG           7.20  3/21/2017    EUR     55.20
Deutsche Bank AG           7.20  3/21/2017    EUR     53.00
Deutsche Bank AG           7.20  6/20/2017    EUR     61.80
Deutsche Bank AG           5.20  6/20/2017    EUR     57.70
Deutsche Bank AG           7.20  6/20/2017    EUR     59.60
Deutsche Bank AG           5.20  6/20/2017    EUR     55.30
Deutsche Bank AG           7.20  6/20/2017    EUR     56.80
Deutsche Bank AG           5.20  6/20/2017    EUR     53.10
Deutsche Bank AG           7.20  6/20/2017    EUR     54.60
Deutsche Bank AG           7.20  6/20/2017    EUR     52.60
Deutsche Bank AG           5.20  6/20/2017    EUR     51.10
Deutsche Bank AG           7.20  6/20/2017    EUR     50.70
Deutsche Bank AG           5.20  6/20/2017    EUR     49.20
Deutsche Bank AG           5.20  3/21/2017    EUR     72.90
Deutsche Bank AG           5.20  6/20/2017    EUR     74.90
Deutsche Bank AG           5.20  6/20/2017    EUR     72.50
Deutsche Bank AG           7.20  6/20/2017    EUR     73.90
DZ Bank AG Deutsche Zen    7.80 12/23/2016    EUR     64.76
DZ Bank AG Deutsche Zen    7.70  3/24/2017    EUR     66.50
Vontobel Financial Prod   10.00 12/23/2016    EUR     72.61
Commerzbank AG             4.50 11/24/2016    EUR     54.16
Commerzbank AG             5.00 11/24/2016    EUR     53.01
Commerzbank AG             5.75 11/24/2016    EUR     51.97
Commerzbank AG             6.25 11/24/2016    EUR     50.95
Commerzbank AG             7.00 11/24/2016    EUR     49.99
Commerzbank AG             7.75 11/24/2016    EUR     49.10
Commerzbank AG             8.50 11/24/2016    EUR     48.25
Commerzbank AG             9.00 11/24/2016    EUR     73.85
Commerzbank AG             9.25 11/24/2016    EUR     47.42
Commerzbank AG            12.25 11/24/2016    EUR     74.89
Commerzbank AG             8.00 11/24/2016    EUR     74.84
Commerzbank AG             9.75 11/24/2016    EUR     71.25
Commerzbank AG            11.75 11/24/2016    EUR     68.08
Commerzbank AG             9.50 11/24/2016    EUR     72.62
Vontobel Financial Prod    9.00 11/25/2016    EUR     74.47
Vontobel Financial Prod   13.10 12/23/2016    EUR     74.53
Vontobel Financial Prod   10.50 11/25/2016    EUR     71.90
Vontobel Financial Prod    9.50 12/23/2016    EUR     73.62
Bank Julius Baer & Co L    6.50  12/2/2016    EUR     48.45
UniCredit Bank AG          5.00  6/22/2017    EUR     50.99
UniCredit Bank AG          4.80  6/22/2017    EUR     52.33
UniCredit Bank AG          4.60  6/22/2017    EUR     53.78
UniCredit Bank AG          4.60  6/22/2017    EUR     54.34
UniCredit Bank AG          4.40  6/22/2017    EUR     55.34
UniCredit Bank AG          4.40  6/22/2017    EUR     56.53
UniCredit Bank AG          4.40  6/22/2017    EUR     57.17
UniCredit Bank AG          4.20  6/22/2017    EUR     57.64
UniCredit Bank AG          5.00  6/22/2017    EUR     51.46
UniCredit Bank AG          5.00  6/22/2017    EUR     51.98
UniCredit Bank AG          4.80  6/22/2017    EUR     52.85
UniCredit Bank AG          4.80  6/22/2017    EUR     53.38
UniCredit Bank AG          4.60  6/22/2017    EUR     54.90
UniCredit Bank AG          4.40  6/22/2017    EUR     55.95
UniCredit Bank AG          4.20  6/22/2017    EUR     58.27
Goldman Sachs & Co Wert   18.00  3/22/2017    EUR     71.69
Deutsche Bank AG           6.20 10/26/2016    EUR     73.60
Deutsche Bank AG           4.20 10/26/2016    EUR     73.40
Deutsche Bank AG           6.20 10/26/2016    EUR     70.80
Deutsche Bank AG           4.20 10/26/2016    EUR     70.60
Deutsche Bank AG           4.20 11/23/2016    EUR     73.70
Deutsche Bank AG           6.20 11/23/2016    EUR     74.00
Deutsche Bank AG           4.20 11/23/2016    EUR     70.90
Deutsche Bank AG           6.20 11/23/2016    EUR     71.20
Deutsche Bank AG           6.20 10/26/2016    EUR     70.40
Deutsche Bank AG           6.20 10/26/2016    EUR     57.70
Deutsche Bank AG           4.20 11/23/2016    EUR     70.50
Deutsche Bank AG           6.20 11/23/2016    EUR     70.80
Deutsche Bank AG           6.20 11/23/2016    EUR     58.20
Deutsche Bank AG           4.20 10/26/2016    EUR     54.50
Deutsche Bank AG           4.20 11/23/2016    EUR     54.90
Deutsche Bank AG           6.20 10/26/2016    EUR     75.00
Deutsche Bank AG           4.20 10/26/2016    EUR     74.80
Deutsche Bank AG           4.20 10/26/2016    EUR     71.90
Deutsche Bank AG           4.20 11/23/2016    EUR     74.90
Deutsche Bank AG           4.20 11/23/2016    EUR     72.00
Deutsche Bank AG           4.20 12/20/2016    EUR     75.00
Deutsche Bank AG           4.20 10/26/2016    EUR     75.00
Leonteq Securities AG      9.60  12/7/2016    CHF     70.38
Vontobel Financial Prod    4.70 12/23/2016    EUR     73.57
DZ Bank AG Deutsche Zen    4.00  12/7/2016    EUR     56.25
Zurcher Kantonalbank Fi   12.00  12/8/2016    CHF     70.57
Credit Suisse AG/London    7.25  12/7/2016    CHF     69.45
Deutsche Bank AG           9.20 11/23/2016    EUR     61.10
Deutsche Bank AG           7.20 11/23/2016    EUR     60.70
Deutsche Bank AG           5.20 11/23/2016    EUR     60.40
Deutsche Bank AG           5.20 11/23/2016    EUR     56.70
Deutsche Bank AG           9.20 11/23/2016    EUR     57.30
Deutsche Bank AG           7.20 11/23/2016    EUR     57.00
Deutsche Bank AG           7.20  7/26/2017    EUR     63.90
Deutsche Bank AG           9.20  7/26/2017    EUR     65.60
Deutsche Bank AG           5.20  7/26/2017    EUR     62.20
Deutsche Bank AG           5.20  7/26/2017    EUR     58.80
Deutsche Bank AG           7.20  7/26/2017    EUR     60.50
Deutsche Bank AG           9.20  7/26/2017    EUR     62.20
UBS AG/London             10.00 11/25/2016    CHF     69.20
Bank Julius Baer & Co L    5.60  12/8/2016    CHF     60.05
Bank Julius Baer & Co L    5.90  12/8/2016    CHF     53.95
Vontobel Financial Prod   12.50 12/23/2016    EUR     72.18
Vontobel Financial Prod    6.50 12/23/2016    EUR     71.54
UniCredit Bank AG          4.30 12/22/2017    EUR     44.55
Landesbank Baden-Wuertt    4.90 10/28/2016    EUR     48.47
DekaBank Deutsche Giroz    3.30  2/26/2018    EUR     38.49
UniCredit Bank AG          4.40  11/2/2017    EUR     70.65
UniCredit Bank AG          4.30 10/29/2018    EUR     62.12
DekaBank Deutsche Giroz    3.45   6/1/2018    EUR     57.07
Landesbank Baden-Wuertt    3.00  5/25/2018    EUR     51.44
HSBC Trinkaus & Burkhar    5.00 11/14/2016    EUR     37.84
Notenstein La Roche Pri    8.50 11/28/2016    CHF     41.52
Leonteq Securities AG/G    7.60 11/28/2016    CHF     68.95
Leonteq Securities AG/G    6.00 11/28/2016    CHF     53.95
Notenstein La Roche Pri    6.20 11/21/2016    CHF     63.89
Societe Generale SA        1.00 12/22/2017    GBP      0.99
Commerzbank AG            12.50  1/26/2017    EUR     68.98
Vontobel Financial Prod    8.00  9/29/2017    EUR     72.12
Landesbank Baden-Wuertt    5.00  9/22/2017    EUR     73.88
Landesbank Baden-Wuertt    3.00  9/22/2017    EUR     60.64
Landesbank Baden-Wuertt    4.00  9/22/2017    EUR     57.49
Landesbank Baden-Wuertt    5.00  9/22/2017    EUR     55.36
Landesbank Baden-Wuertt    6.00  9/22/2017    EUR     53.62
Landesbank Baden-Wuertt    3.00  9/22/2017    EUR     55.40
Landesbank Baden-Wuertt    3.00  9/22/2017    EUR     72.75
Landesbank Baden-Wuertt    4.00  9/22/2017    EUR     69.20
Landesbank Baden-Wuertt    5.00  9/22/2017    EUR     66.26
Landesbank Baden-Wuertt    4.00  9/22/2017    EUR     74.13
Leonteq Securities AG      6.00 10/12/2017    CHF     61.18
Leonteq Securities AG     10.00 10/12/2016    CHF     59.06
SAir Group                 2.75  7/30/2004    CHF     12.13
UniCredit Bank AG          4.50  9/19/2017    EUR     39.18
UniCredit Bank AG          5.40  6/30/2017    EUR     56.51
Landesbank Hessen-Thuer    5.60  7/11/2017    EUR     48.85
Deutsche Bank AG           4.20 10/26/2016    EUR     52.10
Deutsche Bank AG           6.20 10/26/2016    EUR     47.90
Deutsche Bank AG           6.20 10/26/2016    EUR     44.30
Deutsche Bank AG           4.20 11/23/2016    EUR     52.40
Deutsche Bank AG           4.20 11/23/2016    EUR     50.10
Deutsche Bank AG           6.20 11/23/2016    EUR     48.40
Deutsche Bank AG           4.20 11/23/2016    EUR     48.10
Deutsche Bank AG           6.20 11/23/2016    EUR     46.50
Deutsche Bank AG           6.20 11/23/2016    EUR     44.80
Ladya Finans LLC          12.00 10/29/2021    RUB     64.03
UniCredit Bank AG          4.50 12/22/2016    EUR     74.34
Vontobel Financial Prod   11.00  12/9/2016    EUR     68.70
Societe Generale Effekt   12.08  3/24/2017    EUR     73.75
Societe Generale Effekt   14.61  3/24/2017    EUR     70.62
Societe Generale Effekt   17.29  3/24/2017    EUR     67.99
Commerzbank AG            12.00  1/26/2017    EUR     72.99
UniCredit Bank AG          4.60 12/22/2016    EUR     73.84
UniCredit Bank AG          4.25 12/22/2016    EUR     74.81
DZ Bank AG Deutsche Zen   10.25 12/19/2016    EUR     71.93
DZ Bank AG Deutsche Zen    9.00  3/20/2017    EUR     72.06
DZ Bank AG Deutsche Zen    9.00 12/23/2016    EUR     74.98
Societe Generale Effekt   13.87  6/23/2017    EUR     73.58
Societe Generale Effekt   16.44  6/23/2017    EUR     71.09
Societe Generale Effekt   19.62  6/23/2017    EUR     68.68
Commerzbank AG            14.50  1/26/2017    EUR     68.74
Commerzbank AG            17.25  1/26/2017    EUR     65.10
Goldman Sachs & Co Wert   22.00  3/22/2017    EUR     72.10
Goldman Sachs & Co Wert   21.00  4/26/2017    EUR     73.62
DZ Bank AG Deutsche Zen   10.40  6/19/2017    EUR     72.16
Vontobel Financial Prod   10.00  3/24/2017    EUR     74.94
Vontobel Financial Prod   15.00  3/24/2017    EUR     66.96
DZ Bank AG Deutsche Zen   10.00  6/19/2017    EUR     71.19
Vontobel Financial Prod   16.50  3/24/2017    EUR     73.24
Deutsche Bank AG           5.50 12/20/2016    EUR     72.80
Deutsche Bank AG           6.50 12/20/2016    EUR     73.10
Vontobel Financial Prod    8.55 12/23/2016    EUR     58.74
Goldman Sachs & Co Wert   25.00 12/21/2016    EUR     74.41
Goldman Sachs & Co Wert   14.00 10/26/2016    EUR     71.18
Goldman Sachs & Co Wert   19.00 11/23/2016    EUR     66.06
Goldman Sachs & Co Wert   25.00 11/23/2016    EUR     61.27
Goldman Sachs & Co Wert   23.00 12/21/2016    EUR     62.73
Goldman Sachs & Co Wert   20.00  2/22/2017    EUR     65.56
Goldman Sachs & Co Wert   14.00  6/21/2017    EUR     71.87
Goldman Sachs & Co Wert   15.00  9/20/2017    EUR     71.11
Goldman Sachs & Co Wert    8.00 11/23/2016    EUR     60.96
Goldman Sachs & Co Wert    7.00  1/25/2017    EUR     61.99
Goldman Sachs & Co Wert    5.00  2/22/2017    EUR     68.45
Goldman Sachs & Co Wert    6.00  2/22/2017    EUR     65.32
Goldman Sachs & Co Wert   15.00  2/22/2017    EUR     53.44
Goldman Sachs & Co Wert   19.00  2/22/2017    EUR     51.44
Goldman Sachs & Co Wert    8.00  9/20/2017    EUR     61.63
Goldman Sachs & Co Wert    5.00 12/20/2017    EUR     70.45
Goldman Sachs & Co Wert    8.00 12/20/2017    EUR     63.47
Goldman Sachs & Co Wert   21.00  1/25/2017    EUR     65.02
Goldman Sachs & Co Wert   14.00  2/22/2017    EUR     71.01
Goldman Sachs & Co Wert   16.00  6/21/2017    EUR     68.86
Goldman Sachs & Co Wert   20.00  2/22/2017    EUR     66.21
Deutsche Bank AG           5.50 12/20/2016    EUR     74.90
DZ Bank AG Deutsche Zen    7.20 12/23/2016    EUR     60.61
DZ Bank AG Deutsche Zen    6.40  3/24/2017    EUR     61.91
DZ Bank AG Deutsche Zen    6.00 12/19/2016    EUR     63.77
DZ Bank AG Deutsche Zen    5.60  3/20/2017    EUR     64.88
DZ Bank AG Deutsche Zen    5.25  3/24/2017    EUR     61.35
Vontobel Financial Prod    8.00  3/24/2017    EUR     66.59
Deutsche Bank AG           5.20  2/22/2017    EUR     65.10
Deutsche Bank AG           7.20  2/22/2017    EUR     65.90
Deutsche Bank AG           7.20  2/22/2017    EUR     62.70
Deutsche Bank AG           5.20  2/22/2017    EUR     61.90
Deutsche Bank AG           7.20  2/22/2017    EUR     59.80
Deutsche Bank AG           5.20  2/22/2017    EUR     59.00
Deutsche Bank AG           5.20  2/22/2017    EUR     56.30
Deutsche Bank AG           7.20  2/22/2017    EUR     57.10
Deutsche Bank AG           5.20  2/22/2017    EUR     71.70
Deutsche Bank AG           5.20  1/25/2017    EUR     71.30
Deutsche Bank AG           7.20  1/25/2017    EUR     72.00
Deutsche Bank AG           5.20  1/25/2017    EUR     64.80
Deutsche Bank AG           7.20  1/25/2017    EUR     65.50
Deutsche Bank AG           7.20  1/25/2017    EUR     62.20
Deutsche Bank AG           5.20  1/25/2017    EUR     61.60
Deutsche Bank AG           5.20  1/25/2017    EUR     58.60
Deutsche Bank AG           7.20  1/25/2017    EUR     59.30
Deutsche Bank AG           7.20  1/25/2017    EUR     56.60
Goldman Sachs & Co Wert   10.00  1/25/2017    EUR     73.05
Vontobel Financial Prod    5.00  3/24/2017    EUR     65.21
Vontobel Financial Prod    6.05  3/24/2017    EUR     62.54
Vontobel Financial Prod    7.50  3/24/2017    EUR     60.34
Vontobel Financial Prod    9.00  3/24/2017    EUR     58.39
Vontobel Financial Prod   10.50  3/24/2017    EUR     56.73
Vontobel Financial Prod   12.00  3/24/2017    EUR     55.24
Vontobel Financial Prod    3.00 11/25/2016    EUR     71.26
Vontobel Financial Prod    3.50 11/25/2016    EUR     69.22
Vontobel Financial Prod   10.60 12/23/2016    EUR     56.55
Vontobel Financial Prod    7.00 12/23/2016    EUR     61.33
Vontobel Financial Prod    5.50 12/23/2016    EUR     64.23
Vontobel Financial Prod    4.00 12/23/2016    EUR     67.55
Vontobel Financial Prod    4.00  3/24/2017    EUR     68.21
Goldman Sachs & Co Wert   25.00 10/26/2016    EUR     72.30
Goldman Sachs & Co Wert   13.00 12/21/2016    EUR     73.01
Goldman Sachs & Co Wert   12.00  1/25/2017    EUR     73.89
Goldman Sachs & Co Wert   17.00  1/25/2017    EUR     68.70
Goldman Sachs & Co Wert   22.00  1/25/2017    EUR     64.67
Goldman Sachs & Co Wert   12.00  2/22/2017    EUR     74.70
Goldman Sachs & Co Wert   15.00  3/22/2017    EUR     70.29
Goldman Sachs & Co Wert   17.00  6/21/2017    EUR     68.69
Goldman Sachs & Co Wert   14.00 12/20/2017    EUR     73.31
Goldman Sachs & Co Wert    7.00 10/26/2016    EUR     63.55
Goldman Sachs & Co Wert    8.00 12/21/2016    EUR     61.53
Goldman Sachs & Co Wert   10.00  1/25/2017    EUR     57.35
Goldman Sachs & Co Wert    4.00  2/22/2017    EUR     71.89
Goldman Sachs & Co Wert    7.00  2/22/2017    EUR     62.50
Goldman Sachs & Co Wert   10.00  2/22/2017    EUR     58.12
Goldman Sachs & Co Wert    6.00  9/20/2017    EUR     64.87
Goldman Sachs & Co Wert   10.00  3/22/2017    EUR     58.88
Goldman Sachs & Co Wert    6.00  9/20/2017    EUR     67.76
Goldman Sachs & Co Wert    5.00 12/20/2017    EUR     67.54
Credit Suisse AG/London    6.00  1/23/2017    CHF     71.56
DekaBank Deutsche Giroz    7.40  1/13/2017    EUR     72.07
Landesbank Baden-Wuertt    7.60 12/23/2016    EUR     55.05
DZ Bank AG Deutsche Zen    5.75 12/23/2016    EUR     61.40
Landesbank Baden-Wuertt    3.00  1/27/2017    EUR     71.76
Landesbank Baden-Wuertt    4.00  1/27/2017    EUR     68.55
Landesbank Baden-Wuertt    5.00  1/27/2017    EUR     66.04
Deutsche Bank AG           5.20  2/22/2017    EUR     71.60
Deutsche Bank AG           7.20  2/22/2017    EUR     72.40
Deutsche Bank AG           7.20  2/22/2017    EUR     72.50
Vontobel Financial Prod   10.00 12/23/2016    EUR     56.40
Vontobel Financial Prod   13.15 12/23/2016    EUR     73.80
Vontobel Financial Prod   12.95  3/24/2017    EUR     72.63
DZ Bank AG Deutsche Zen   15.50  1/27/2017    EUR     60.30
UBS AG/London              9.40  4/18/2017    EUR     72.06
DZ Bank AG Deutsche Zen    5.75 12/19/2016    EUR     70.17
DZ Bank AG Deutsche Zen    6.00  3/20/2017    EUR     71.59
Bank Julius Baer & Co L    9.00  1/19/2017    CHF     67.40
HSBC Trinkaus & Burkhar    8.80  6/23/2017    EUR     74.22
HSBC Trinkaus & Burkhar   11.00 12/23/2016    EUR     54.30
HSBC Trinkaus & Burkhar    7.40 12/23/2016    EUR     58.58
HSBC Trinkaus & Burkhar    6.00 10/28/2016    EUR     60.35
HSBC Trinkaus & Burkhar    8.80  1/27/2017    EUR     57.06
Vontobel Financial Prod    4.70  12/9/2016    EUR     70.82
Vontobel Financial Prod   13.50  3/24/2017    EUR     67.44
Societe Generale SA        5.10   9/5/2017    EUR     71.95
Leonteq Securities AG      6.00  1/30/2017    CHF     68.33
HSBC Trinkaus & Burkhar    5.00  1/30/2018    EUR     67.62
DekaBank Deutsche Giroz    2.75  7/17/2019    EUR     55.19
Vontobel Financial Prod    6.20   2/4/2019    EUR     71.08
BNP Paribas Emissions-     7.50 12/22/2016    EUR     72.97
BNP Paribas Emissions-    10.00 12/22/2016    EUR     64.73
BNP Paribas Emissions-    10.00 12/22/2016    EUR     66.19
BNP Paribas Emissions-     7.50 12/22/2016    EUR     73.84
BNP Paribas Emissions-    10.00 12/22/2016    EUR     67.69
BNP Paribas Emissions-     5.00 12/22/2016    EUR     71.24
BNP Paribas Emissions-     6.00 12/22/2016    EUR     67.60
BNP Paribas Emissions-     7.00 12/22/2016    EUR     64.36
BNP Paribas Emissions-     7.50 12/22/2016    EUR     62.88
BNP Paribas Emissions-     9.50 12/22/2016    EUR     71.49
BNP Paribas Emissions-     6.00 12/22/2016    EUR     71.41
BNP Paribas Emissions-     6.50 12/22/2016    EUR     67.90
BNP Paribas Emissions-     8.50 12/22/2016    EUR     62.10
BNP Paribas Emissions-     9.00 12/22/2016    EUR     59.49
BNP Paribas Emissions-     6.00 12/22/2016    EUR     53.08
BNP Paribas Emissions-     6.50 12/22/2016    EUR     50.96
BNP Paribas Emissions-     8.00 12/22/2016    EUR     47.36
BNP Paribas Emissions-     9.00 12/22/2016    EUR     45.85
BNP Paribas Emissions-     5.50 12/22/2016    EUR     66.06
BNP Paribas Emissions-    10.00 12/22/2016    EUR     55.56
Notenstein La Roche Pri    8.00   2/6/2017    EUR     62.98
Landesbank Hessen-Thuer    8.25   3/6/2020    EUR     74.19
Leonteq Securities AG      6.00  2/20/2017    CHF     56.76
Bayerische Landesbank      3.00   3/9/2018    EUR     74.26
Notenstein La Roche Pri    8.80  2/13/2017    CHF     72.40
DekaBank Deutsche Giroz    2.75   2/2/2018    EUR     65.82
Commerzbank AG             5.24  2/16/2017    EUR     58.27
Leonteq Securities AG      7.20   3/6/2017    CHF     59.97
Leonteq Securities AG      7.80  2/27/2017    EUR     56.24
Notenstein La Roche Pri    5.00  2/27/2019    CHF     63.01
Notenstein La Roche Pri    5.70  2/27/2019    CHF     62.71
DekaBank Deutsche Giroz    2.40  2/17/2017    EUR     58.45
UniCredit Bank AG          5.00  6/25/2019    EUR     47.24
Landesbank Hessen-Thuer    5.00  3/27/2019    EUR     56.17
Bayerische Landesbank      2.60  3/29/2018    EUR     50.48
EFG International Finan    7.20  2/25/2019    EUR     46.36
Leonteq Securities AG      5.20   3/6/2017    CHF     65.77
DekaBank Deutsche Giroz    2.50  2/24/2017    EUR     73.67
DekaBank Deutsche Giroz    3.05  2/25/2019    EUR     72.27
BNP Paribas Emissions-     8.00 12/22/2016    EUR     69.90
BNP Paribas Emissions-     9.00 12/22/2016    EUR     72.18
BNP Paribas Emissions-     6.00 12/22/2016    EUR     70.07
BNP Paribas Emissions-     8.50 12/22/2016    EUR     63.68
BNP Paribas Emissions-     8.50 12/22/2016    EUR     69.49
BNP Paribas Emissions-     9.00 12/22/2016    EUR     72.43
BNP Paribas Emissions-    10.00 12/22/2016    EUR     70.07
BNP Paribas Emissions-     5.50 12/22/2016    EUR     67.67
BNP Paribas Emissions-     8.00 12/22/2016    EUR     59.26
BNP Paribas Emissions-    11.00 12/22/2016    EUR     71.63
BNP Paribas Emissions-     6.00 12/22/2016    EUR     46.90
BNP Paribas Emissions-     7.50 12/22/2016    EUR     43.89
BNP Paribas Emissions-     8.00 12/22/2016    EUR     42.50
Vontobel Financial Prod    5.35   3/3/2017    EUR     41.17
Vontobel Financial Prod    5.40   3/3/2017    EUR     57.85
EFG International Finan    8.99   9/4/2017    EUR     29.79
Landesbank Hessen-Thuer    4.00   4/8/2019    EUR     57.90
Bank Julius Baer & Co L    6.50   3/6/2017    CHF     64.55
Leonteq Securities AG      5.25  3/19/2018    CHF     68.17
Notenstein La Roche Pri    6.50  3/13/2017    EUR     45.22
DZ Bank AG Deutsche Zen    2.00 12/16/2016    EUR     64.58
Vontobel Financial Prod    4.60 12/23/2016    EUR     61.42
Notenstein La Roche Pri    7.00  3/10/2017    EUR     72.06
Leonteq Securities AG      7.00  9/20/2017    CHF     71.67
Commerzbank AG             7.20   3/9/2017    EUR     70.77
Credit Suisse AG/Nassau    6.25  9/26/2016    CHF     58.91
Deutsche Bank AG           6.20 12/20/2016    EUR     60.70
Deutsche Bank AG           5.20 12/20/2016    EUR     60.50
Deutsche Bank AG           5.20 12/20/2016    EUR     57.60
Deutsche Bank AG           6.20 12/20/2016    EUR     74.50
Deutsche Bank AG           5.20 12/20/2016    EUR     74.30
Deutsche Bank AG           6.20 12/20/2016    EUR     71.70
Deutsche Bank AG           5.20 12/20/2016    EUR     71.50
Deutsche Bank AG           6.20 12/20/2016    EUR     73.30
Deutsche Bank AG           5.20 12/20/2016    EUR     73.00
Deutsche Bank AG           5.20 12/20/2016    EUR     69.80
Deutsche Bank AG           6.20 12/20/2016    EUR     70.00
Deutsche Bank AG           5.20 12/20/2016    EUR     61.10
Deutsche Bank AG           6.20 12/20/2016    EUR     61.30
Deutsche Bank AG           6.20 12/20/2016    EUR     58.60
Deutsche Bank AG           5.20 12/20/2016    EUR     58.40
Deutsche Bank AG           5.20 12/20/2016    EUR     55.90
Deutsche Bank AG           6.20 12/20/2016    EUR     56.10
Deutsche Bank AG           6.20 12/20/2016    EUR     45.20
Deutsche Bank AG           5.20 12/20/2016    EUR     45.00
Deutsche Bank AG           5.20 12/20/2016    EUR     43.40
Deutsche Bank AG           6.20 12/20/2016    EUR     43.60
Deutsche Bank AG           6.20 12/20/2016    EUR     42.10
Deutsche Bank AG           5.20 12/20/2016    EUR     41.90
Deutsche Bank AG           5.20 12/20/2016    EUR     40.50
Deutsche Bank AG           6.20 12/20/2016    EUR     40.70
Deutsche Bank AG           5.20 12/20/2016    EUR     68.70
Deutsche Bank AG           6.20 12/20/2016    EUR     69.00
Deutsche Bank AG           5.20 12/20/2016    EUR     66.20
Deutsche Bank AG           6.20 12/20/2016    EUR     66.50
Deutsche Bank AG           6.20 12/20/2016    EUR     56.50
Deutsche Bank AG           5.20 12/20/2016    EUR     56.30
Deutsche Bank AG           5.20 12/20/2016    EUR     54.30
Deutsche Bank AG           6.20 12/20/2016    EUR     61.90
Deutsche Bank AG           6.20 12/20/2016    EUR     57.90
Deutsche Bank AG           5.20 12/20/2016    EUR     55.10
Deutsche Bank AG           6.20 12/20/2016    EUR     55.30
Commerzbank AG             5.80  10/8/2017    EUR     67.61
DZ Bank AG Deutsche Zen    5.20   9/8/2017    EUR     71.37
DZ Bank AG Deutsche Zen    5.60   9/8/2017    EUR     67.90
Landesbank Hessen-Thuer    6.75  4/17/2020    EUR     67.24
DekaBank Deutsche Giroz    3.75  3/10/2017    EUR     65.32
HSBC Trinkaus & Burkhar   14.90 12/23/2016    EUR     74.41
Societe Generale Effekt   12.01 12/23/2016    EUR     74.71
Societe Generale Effekt   16.52 12/23/2016    EUR     66.88
Societe Generale Effekt   17.96  6/23/2017    EUR     74.40
Societe Generale Effekt   20.75  6/23/2017    EUR     71.52
Goldman Sachs & Co Wert   22.00  3/22/2017    EUR     67.33
Vontobel Financial Prod   10.00  3/24/2017    EUR     74.19
HSBC Trinkaus & Burkhar   14.80  3/24/2017    EUR     73.65
Societe Generale Effekt   12.85 12/23/2016    EUR     72.92
Societe Generale Effekt   14.61 12/23/2016    EUR     69.78
Societe Generale Effekt   16.37 12/23/2016    EUR     70.75
Goldman Sachs & Co Wert   19.00  4/26/2017    EUR     70.53
Goldman Sachs & Co Wert   21.00  4/26/2017    EUR     68.81
Goldman Sachs & Co Wert   17.00  9/20/2017    EUR     72.98
Royal Bank of Scotland     6.20   9/7/2018    GBP      1.07
Landesbank Baden-Wuertt    3.00 11/25/2016    EUR     59.45
Exane Finance              6.25 12/20/2019    SEK     65.30
Credit Suisse AG/London    7.80  7/31/2020    USD      8.91
UniCredit Bank AG          4.00 12/22/2016    EUR     74.06
UniCredit Bank AG          4.20 12/22/2016    EUR     73.21
UniCredit Bank AG          4.20 12/22/2016    EUR     69.75
UniCredit Bank AG          4.40 12/22/2016    EUR     69.33
UniCredit Bank AG          4.60 12/22/2016    EUR     66.70
UniCredit Bank AG          4.00 12/22/2016    EUR     72.64
UniCredit Bank AG          4.60 12/22/2016    EUR     68.02
Vontobel Financial Prod    3.50 12/23/2016    EUR     57.53
Vontobel Financial Prod    9.00 12/23/2016    EUR     48.45
DZ Bank AG Deutsche Zen    7.75 11/25/2016    EUR     74.03
DZ Bank AG Deutsche Zen    7.75 12/23/2016    EUR     74.62
DZ Bank AG Deutsche Zen    9.75 11/25/2016    EUR     61.34
DZ Bank AG Deutsche Zen    8.75 11/25/2016    EUR     46.69
DZ Bank AG Deutsche Zen    7.00  3/24/2017    EUR     49.83
DZ Bank AG Deutsche Zen    8.25 11/25/2016    EUR     74.62
Rinol AG                   5.50 10/15/2006    DEM      0.00
KPNQwest NV                7.13   6/1/2009    EUR      0.56
Bayerische Landesbank      2.70  8/10/2018    EUR     72.16
HSBC Trinkaus & Burkhar    5.50  1/31/2017    EUR     63.80
Goldman Sachs & Co Wert    5.00  3/22/2017    EUR     65.49
Goldman Sachs & Co Wert    7.00  3/22/2017    EUR     60.82
Goldman Sachs & Co Wert    7.00  6/21/2017    EUR     61.36
Goldman Sachs & Co Wert    5.00  6/21/2017    EUR     51.00
Goldman Sachs & Co Wert    5.00  6/21/2017    EUR     53.02
Goldman Sachs & Co Wert   16.00 12/21/2016    EUR     68.65
Notenstein La Roche Pri    4.20  7/17/2019    CHF     69.20
Landesbank Baden-Wuertt    2.60 12/23/2016    EUR     73.05
Vontobel Financial Prod    4.65  7/24/2017    EUR     61.20
Raiffeisen Centrobank A    7.05  3/22/2017    EUR     71.64
Credit Suisse AG/Nassau    6.00  1/23/2017    CHF     65.21
BNP Paribas Emissions-     4.00  7/27/2017    EUR     65.09
BNP Paribas Emissions-     4.00 10/27/2016    EUR     66.51
BNP Paribas Emissions-     5.50 10/27/2016    EUR     61.54
BNP Paribas Emissions-     3.50  7/27/2017    EUR     70.13
Notenstein La Roche Pri    3.00  7/31/2018    CHF     72.80
Goldman Sachs & Co Wert   16.00 12/21/2016    EUR     70.35
Notenstein La Roche Pri    5.70  1/24/2019    CHF     74.27
Leonteq Securities AG      9.00 10/24/2016    EUR     68.46
Commerzbank AG             6.00   2/5/2018    EUR     73.43
Leonteq Securities AG     11.00   1/9/2017    EUR     59.40
Vontobel Financial Prod   11.90  10/7/2016    EUR     73.34
Credit Suisse AG/London    7.80  7/16/2025    USD      8.57
JP Morgan Structured Pr    3.60  7/17/2017    USD     60.67
Landesbank Baden-Wuertt    2.90  7/27/2018    EUR     50.32
Landesbank Baden-Wuertt    2.70  7/26/2019    EUR     70.46
Landesbank Baden-Wuertt    2.55  7/26/2019    EUR     72.92
Credit Suisse AG/London    7.00  7/31/2025    USD      9.91
Leonteq Securities AG      8.00 10/31/2016    CHF     69.18
UniCredit Bank AG          4.20 12/22/2016    EUR     72.34
UniCredit Bank AG          4.00 12/22/2016    EUR     73.15
UniCredit Bank AG          4.20 12/22/2016    EUR     70.22
UniCredit Bank AG          4.40 12/22/2016    EUR     68.42
UniCredit Bank AG          4.60 12/22/2016    EUR     67.57
UniCredit Bank AG          4.00 12/22/2016    EUR     74.97
UniCredit Bank AG          4.00 12/22/2016    EUR     72.13
UniCredit Bank AG          4.20 12/22/2016    EUR     71.19
UniCredit Bank AG          4.20 12/22/2016    EUR     70.70
UniCredit Bank AG          4.40 12/22/2016    EUR     68.87
UniCredit Bank AG          4.60 12/22/2016    EUR     67.14
UniCredit Bank AG          4.20 12/22/2016    EUR     71.48
UBS AG/London             10.10  3/10/2017    EUR     71.44
DZ Bank AG Deutsche Zen    8.00  3/24/2017    EUR     71.77
DZ Bank AG Deutsche Zen   10.00 12/23/2016    EUR     72.14
DZ Bank AG Deutsche Zen    8.00  3/24/2017    EUR     73.62
DZ Bank AG Deutsche Zen    8.50 11/25/2016    EUR     74.15
DZ Bank AG Deutsche Zen    5.50 11/25/2016    EUR     67.60
DZ Bank AG Deutsche Zen    7.75 12/23/2016    EUR     48.26
DZ Bank AG Deutsche Zen   15.00 11/25/2016    EUR     66.83
Notenstein La Roche Pri    8.99  7/22/2019    EUR     54.20
Leonteq Securities AG     16.00 10/31/2016    CHF     47.46
Leonteq Securities AG      9.00 10/31/2016    EUR     51.92
UniCredit Bank AG          4.00 12/22/2016    EUR     71.64
UniCredit Bank AG          4.40 12/22/2016    EUR     70.70
UniCredit Bank AG          4.40 12/22/2016    EUR     69.88
DZ Bank AG Deutsche Zen    6.00  3/24/2017    EUR     70.93
Vontobel Financial Prod    9.75 12/23/2016    EUR     74.81
Vontobel Financial Prod   12.50 12/23/2016    EUR     71.14
Vontobel Financial Prod    6.10 12/23/2016    EUR     51.87
Vontobel Financial Prod    7.50 12/23/2016    EUR     50.06
DZ Bank AG Deutsche Zen    9.00  3/24/2017    EUR     72.60
DZ Bank AG Deutsche Zen    5.75 11/25/2016    EUR     49.61
DZ Bank AG Deutsche Zen   12.75 12/23/2016    EUR     69.12
DZ Bank AG Deutsche Zen    9.75  3/24/2017    EUR     70.55
Bank Julius Baer & Co L   11.10 11/23/2016    CHF     60.25
Lehman Brothers Treasur    9.25  6/20/2012    USD      0.75
Lehman Brothers Treasur    3.00  9/13/2010    JPY     11.88
Vontobel Financial Prod   16.00 12/23/2016    EUR     74.63
Soyuz AKB OAO             11.25  6/11/2020    RUB     60.30
MRSK Yuga PJSC            13.50   6/8/2020    RUB     70.00
Societe Generale SA        0.50   8/4/2021    BRL     61.00
Lehman Brothers Treasur    5.25 11/21/2009    USD      0.75
Vontobel Financial Prod   12.00  3/24/2017    EUR     70.38
Vontobel Financial Prod   14.00  3/24/2017    EUR     68.02
Vontobel Financial Prod   16.00  3/24/2017    EUR     65.96
Vontobel Financial Prod   17.00  3/24/2017    EUR     65.03
DZ Bank AG Deutsche Zen    9.00  6/19/2017    EUR     74.30
Deutsche Bank AG           7.20 12/20/2016    EUR     74.80
Deutsche Bank AG           5.20 12/20/2016    EUR     74.30
Bank Nederlandse Gemeen    0.50  6/22/2021    ZAR     66.22
DZ Bank AG Deutsche Zen   16.00 12/23/2016    EUR     72.83
Goldman Sachs & Co Wert   10.00  6/21/2017    EUR     67.64
Goldman Sachs & Co Wert   11.00  6/21/2017    EUR     68.38
Goldman Sachs & Co Wert   10.00  6/21/2017    EUR     63.92
Goldman Sachs & Co Wert   11.00  6/21/2017    EUR     64.66
Deutsche Bank AG           5.20  6/20/2017    EUR     74.60
Societe Generale SA        0.50  6/12/2023    RUB     57.55
Bank VTB 24 JSC            3.00 11/26/2043    RUB     60.03
Vontobel Financial Prod   18.50 12/23/2016    EUR     71.34
Societe Generale SA        0.50   7/6/2021    BRL     61.42
Vontobel Financial Prod   15.00  3/24/2017    EUR     74.30
Goldman Sachs & Co Wert   24.00 10/26/2016    EUR     72.76
Goldman Sachs & Co Wert   22.00 11/23/2016    EUR     74.25
Goldman Sachs & Co Wert   24.00 12/21/2016    EUR     72.19
Goldman Sachs & Co Wert   23.00  2/22/2017    EUR     72.23
Goldman Sachs & Co Wert   22.00  3/22/2017    EUR     73.43
Goldman Sachs & Co Wert   25.00  1/25/2017    EUR     71.17
Goldman Sachs & Co Wert   24.00 11/23/2016    EUR     73.49
Goldman Sachs & Co Wert   22.00 12/21/2016    EUR     74.82
DZ Bank AG Deutsche Zen    8.00 12/23/2016    EUR     68.23
DZ Bank AG Deutsche Zen    8.00  3/24/2017    EUR     69.91
HSBC Trinkaus & Burkhar   15.50 12/23/2016    EUR     65.13
HSBC Trinkaus & Burkhar    8.60  6/23/2017    EUR     73.79
HSBC Trinkaus & Burkhar    9.20  9/22/2017    EUR     72.39
HSBC Trinkaus & Burkhar   14.50 10/28/2016    EUR     66.21
HSBC Trinkaus & Burkhar    9.50 10/28/2016    EUR     74.14
HSBC Trinkaus & Burkhar   13.70 11/25/2016    EUR     67.17
HSBC Trinkaus & Burkhar    9.10 11/25/2016    EUR     74.69
HSBC Trinkaus & Burkhar   11.80  2/24/2017    EUR     69.59
HSBC Trinkaus & Burkhar   13.70  3/24/2017    EUR     74.78
DZ Bank AG Deutsche Zen   15.00  2/24/2017    EUR     71.38
HSBC Trinkaus & Burkhar   10.70 12/23/2016    EUR     71.32
HSBC Trinkaus & Burkhar   13.20  3/24/2017    EUR     67.73
HSBC Trinkaus & Burkhar    9.60  3/24/2017    EUR     72.93
HSBC Trinkaus & Burkhar   12.30  6/23/2017    EUR     68.42
HSBC Trinkaus & Burkhar   11.60  6/23/2017    EUR     69.41
HSBC Trinkaus & Burkhar   16.50 12/23/2016    EUR     72.18
Goldman Sachs & Co Wert   25.00 10/26/2016    EUR     73.64
Goldman Sachs & Co Wert   25.00 11/23/2016    EUR     73.98
Goldman Sachs & Co Wert   20.00 11/23/2016    EUR     62.83
Goldman Sachs & Co Wert   24.00 12/21/2016    EUR     59.60
Goldman Sachs & Co Wert   18.00 10/26/2016    EUR     64.43
Goldman Sachs & Co Wert   15.00  3/22/2017    EUR     66.86
Goldman Sachs & Co Wert   15.00  6/21/2017    EUR     67.51
Goldman Sachs & Co Wert   17.00  6/21/2017    EUR     66.39
Goldman Sachs & Co Wert   10.00  9/20/2017    EUR     74.78
Goldman Sachs & Co Wert   14.00  2/22/2017    EUR     68.57
Goldman Sachs & Co Wert   13.00 12/20/2017    EUR     69.64
Goldman Sachs & Co Wert   10.00 12/21/2016    EUR     72.01
Goldman Sachs & Co Wert   10.00  3/22/2017    EUR     71.43
Goldman Sachs & Co Wert    8.00 12/20/2017    EUR     73.21
Commerzbank AG            14.00 11/24/2016    EUR     69.10
Commerzbank AG            13.50  1/26/2017    EUR     71.15
Deutsche Bank AG           7.20 12/20/2016    EUR     72.60
Deutsche Bank AG           5.20 12/20/2016    EUR     68.00
Deutsche Bank AG           3.20  3/21/2017    EUR     71.70
Deutsche Bank AG           7.20  3/21/2017    EUR     73.70
Deutsche Bank AG           3.20  3/21/2017    EUR     67.90
Deutsche Bank AG           7.20  3/21/2017    EUR     69.90
Deutsche Bank AG           5.20  3/21/2017    EUR     68.90
Deutsche Bank AG           7.20  6/20/2017    EUR     74.50
Deutsche Bank AG           9.20 12/20/2016    EUR     73.10
Deutsche Bank AG           9.20 12/20/2016    EUR     69.00
Deutsche Bank AG           9.20  3/21/2017    EUR     70.90
DZ Bank AG Deutsche Zen   12.25  2/24/2017    EUR     71.56
DZ Bank AG Deutsche Zen    9.75  3/24/2017    EUR     74.20
Vontobel Financial Prod   10.05  12/9/2016    EUR     74.94
Goldman Sachs & Co Wert   15.00 10/26/2016    EUR     67.89
Goldman Sachs & Co Wert   14.00 11/23/2016    EUR     68.88
Goldman Sachs & Co Wert   22.00 11/23/2016    EUR     60.16
Goldman Sachs & Co Wert   14.00 12/21/2016    EUR     69.86
Goldman Sachs & Co Wert   18.00 12/21/2016    EUR     63.86
Goldman Sachs & Co Wert   19.00  1/25/2017    EUR     62.99
Goldman Sachs & Co Wert   15.00  1/25/2017    EUR     67.88
Goldman Sachs & Co Wert   22.00  1/25/2017    EUR     61.30
Goldman Sachs & Co Wert   24.00 10/26/2016    EUR     58.61
Goldman Sachs & Co Wert   10.00  3/22/2017    EUR     74.85
Goldman Sachs & Co Wert   19.00  3/22/2017    EUR     63.23
Goldman Sachs & Co Wert   15.00  9/20/2017    EUR     68.51
Goldman Sachs & Co Wert   18.00  2/22/2017    EUR     64.04
Goldman Sachs & Co Wert   21.00  2/22/2017    EUR     62.59
Goldman Sachs & Co Wert   10.00 12/20/2017    EUR     73.70
Goldman Sachs & Co Wert   22.00  2/22/2017    EUR     70.45
Goldman Sachs & Co Wert   10.00  1/25/2017    EUR     71.45
Goldman Sachs & Co Wert    8.00  9/20/2017    EUR     71.90
Goldman Sachs & Co Wert   10.00  2/22/2017    EUR     71.35
Deutsche Bank AG           3.20 12/20/2016    EUR     71.60
Deutsche Bank AG           5.20 12/20/2016    EUR     72.10
Deutsche Bank AG           3.20 12/20/2016    EUR     67.60
Deutsche Bank AG           7.20 12/20/2016    EUR     68.50
Deutsche Bank AG           5.20  3/21/2017    EUR     72.70
Deutsche Bank AG           5.20  6/20/2017    EUR     73.00
Deutsche Bank AG           5.20  6/20/2017    EUR     69.50
Deutsche Bank AG           3.20  6/20/2017    EUR     68.00
Deutsche Bank AG           3.20  6/20/2017    EUR     71.50
Deutsche Bank AG           9.20  3/21/2017    EUR     74.70
Deutsche Bank AG           3.20  6/20/2017    EUR     74.10
Bank Julius Baer & Co L    9.40   2/9/2017    CHF     50.15
DZ Bank AG Deutsche Zen   12.00 12/23/2016    EUR     72.99
SAir Group                 5.13   3/1/2003    CHF     11.00
Bank Julius Baer & Co L    6.00  7/24/2017    CHF     64.50
Region Kapital OOO        14.50  7/10/2018    RUB     60.10
Soyuz AKB OAO             11.50 10/11/2018    RUB     60.15
Barclays Bank PLC          3.38  1/31/2029    USD     68.25
Risland OOO                9.25  1/10/2019    RUB     61.03
Lehman Brothers Treasur    8.28  3/26/2009    USD      0.75
Lehman Brothers Treasur    6.85 12/22/2008    EUR      0.75
Lehman Brothers Treasur    4.35   8/8/2016    SGD      9.63
Lehman Brothers Treasur    4.50   3/6/2013    CHF      0.75
Lehman Brothers Treasur    4.00  4/24/2009    USD      0.75
Lehman Brothers Treasur    9.00  6/13/2009    USD      0.75
Lehman Brothers Treasur    9.00  3/17/2009    GBP      0.75
Lehman Brothers Treasur    7.00 11/28/2008    CHF      0.75
Lehman Brothers Treasur    7.38  9/20/2008    EUR      0.75
Lehman Brothers Treasur    3.85  4/24/2009    USD      0.75
Lehman Brothers Treasur    7.25  10/6/2008    EUR      0.75
Lehman Brothers Treasur   10.50   8/9/2010    EUR      0.75
Lehman Brothers Treasur    8.00  5/22/2009    USD      0.75
Lehman Brothers Treasur    4.50  7/24/2014    EUR      0.75
DZ Bank AG Deutsche Zen    8.00 12/23/2016    EUR     66.13
DZ Bank AG Deutsche Zen    8.00  6/23/2017    EUR     71.21
UBS AG/London              9.20  4/18/2017    EUR     74.89
HSBC Trinkaus & Burkhar    6.90  3/24/2017    EUR     60.13
HSBC Trinkaus & Burkhar    7.60  6/23/2017    EUR     59.49
HSBC Trinkaus & Burkhar   13.60  3/24/2017    EUR     71.98
Vontobel Financial Prod    5.55  3/10/2017    EUR     71.83
Deutsche Bank AG           5.20  1/25/2017    EUR     55.90
Deutsche Bank AG           7.20  1/25/2017    EUR     72.00
Deutsche Bank AG           5.20  1/25/2017    EUR     71.30
Deutsche Bank AG           5.20 12/20/2016    EUR     64.40
Deutsche Bank AG           6.20 12/20/2016    EUR     64.60
Deutsche Bank AG           7.20 12/20/2016    EUR     64.90
Deutsche Bank AG           5.20 12/20/2016    EUR     61.10
Deutsche Bank AG           6.20 12/20/2016    EUR     61.30
Deutsche Bank AG           7.20 12/20/2016    EUR     61.60
Deutsche Bank AG           5.20 12/20/2016    EUR     58.10
Deutsche Bank AG           7.20 12/20/2016    EUR     71.40
DZ Bank AG Deutsche Zen    6.25  3/20/2017    EUR     73.39
DZ Bank AG Deutsche Zen    8.00 12/19/2016    EUR     54.00
DZ Bank AG Deutsche Zen    6.00  1/25/2017    EUR     61.97
BNP Paribas Emissions-    27.00 12/22/2016    EUR     56.85
BNP Paribas Emissions-    10.00 12/21/2017    EUR     68.48
BNP Paribas Emissions-    28.00 12/21/2017    EUR     68.57
BNP Paribas Emissions-    18.00 12/22/2016    EUR     69.27
BNP Paribas Emissions-    24.00 12/22/2016    EUR     64.15
BNP Paribas Emissions-    20.00  3/23/2017    EUR     68.35
BNP Paribas Emissions-    28.00  6/22/2017    EUR     64.88
BNP Paribas Emissions-    15.00 12/21/2017    EUR     73.74
BNP Paribas Emissions-     6.00 12/22/2016    EUR     68.01
BNP Paribas Emissions-    10.00 12/22/2016    EUR     59.04
BNP Paribas Emissions-     6.00  3/23/2017    EUR     65.72
BNP Paribas Emissions-    18.00  6/22/2017    EUR     70.18
BNP Paribas Emissions-    26.00  6/22/2017    EUR     65.76
BNP Paribas Emissions-    22.00 12/21/2017    EUR     69.90
BNP Paribas Emissions-    26.00 12/21/2017    EUR     68.77
BNP Paribas Emissions-     5.00 12/21/2017    EUR     70.16
BNP Paribas Emissions-    23.00 12/21/2017    EUR     58.27
BNP Paribas Emissions-    18.00  3/23/2017    EUR     70.17
BNP Paribas Emissions-    22.00  3/23/2017    EUR     67.77
BNP Paribas Emissions-    28.00  3/23/2017    EUR     63.58
BNP Paribas Emissions-    22.00 12/21/2017    EUR     69.80
BNP Paribas Emissions-    28.00 12/21/2017    EUR     74.45
BNP Paribas Emissions-    28.00  6/22/2017    EUR     74.41
BNP Paribas Emissions-    19.00 12/21/2017    EUR     71.87
BNP Paribas Emissions-    18.00 12/22/2016    EUR     71.14
BNP Paribas Emissions-    15.00  3/23/2017    EUR     74.38
BNP Paribas Emissions-    28.00  3/23/2017    EUR     63.92
BNP Paribas Emissions-    28.00  3/23/2017    EUR     73.13
BNP Paribas Emissions-    27.00  6/22/2017    EUR     74.73
BNP Paribas Emissions-    21.00 12/22/2016    EUR     73.50
BNP Paribas Emissions-    28.00 12/22/2016    EUR     68.52
BNP Paribas Emissions-    22.00  3/23/2017    EUR     72.79
BNP Paribas Emissions-    28.00  3/23/2017    EUR     69.50
BNP Paribas Emissions-    25.00 12/21/2017    EUR     72.96
BNP Paribas Emissions-    22.00  6/22/2017    EUR     73.00
BNP Paribas Emissions-    25.00 12/21/2017    EUR     72.89
BNP Paribas Emissions-    24.00 12/22/2016    EUR     73.62
BNP Paribas Emissions-    25.00 12/21/2017    EUR     74.24
BNP Paribas Emissions-    18.00  3/23/2017    EUR     72.77
BNP Paribas Emissions-    28.00  3/23/2017    EUR     64.84
BNP Paribas Emissions-    24.00  6/22/2017    EUR     73.39
BNP Paribas Emissions-    27.00  6/22/2017    EUR     71.49
BNP Paribas Emissions-    25.00 12/21/2017    EUR     74.53
BNP Paribas Emissions-    22.00  3/23/2017    EUR     74.95
BNP Paribas Emissions-    25.00 12/21/2017    EUR     74.51
BNP Paribas Emissions-    27.00 12/21/2017    EUR     73.66
BNP Paribas Emissions-    24.00 12/22/2016    EUR     74.38
BNP Paribas Emissions-    24.00  3/23/2017    EUR     74.54
BNP Paribas Emissions-    24.00 12/22/2016    EUR     71.66
BNP Paribas Emissions-    22.00 12/21/2017    EUR     73.63
BNP Paribas Emissions-    27.00 12/21/2017    EUR     72.10
BNP Paribas Emissions-    15.00 12/22/2016    EUR     69.33
BNP Paribas Emissions-    25.00 12/22/2016    EUR     56.19
BNP Paribas Emissions-    27.00 12/22/2016    EUR     54.04
BNP Paribas Emissions-    13.00  3/23/2017    EUR     73.87
BNP Paribas Emissions-    16.00  3/23/2017    EUR     68.47
BNP Paribas Emissions-    19.00  3/23/2017    EUR     64.06
BNP Paribas Emissions-    22.00  3/23/2017    EUR     60.59
BNP Paribas Emissions-    25.00  3/23/2017    EUR     57.90
BNP Paribas Emissions-    28.00  3/23/2017    EUR     55.83
BNP Paribas Emissions-    25.00  6/22/2017    EUR     59.40
BNP Paribas Emissions-    15.00 12/21/2017    EUR     71.86
BNP Paribas Emissions-    19.00 12/21/2017    EUR     66.84
BNP Paribas Emissions-    22.00 12/21/2017    EUR     64.45
BNP Paribas Emissions-    25.00 12/21/2017    EUR     63.52
BNP Paribas Emissions-    27.00 12/21/2017    EUR     63.03
BNP Paribas Emissions-    25.00  6/22/2017    EUR     66.97
BNP Paribas Emissions-    28.00 12/21/2017    EUR     69.34
BNP Paribas Emissions-     5.00 12/22/2016    EUR     61.96
BNP Paribas Emissions-     8.00 12/22/2016    EUR     55.14
BNP Paribas Emissions-    22.00 12/22/2016    EUR     68.26
BNP Paribas Emissions-    19.00  3/23/2017    EUR     69.91
BNP Paribas Emissions-    24.00  3/23/2017    EUR     66.85
BNP Paribas Emissions-    28.00  3/23/2017    EUR     64.19
BNP Paribas Emissions-    16.00  6/22/2017    EUR     72.34
BNP Paribas Emissions-    16.00 12/22/2016    EUR     46.35
BNP Paribas Emissions-     5.00  3/23/2017    EUR     62.69
BNP Paribas Emissions-     5.00  6/22/2017    EUR     62.18
BNP Paribas Emissions-    13.00  6/22/2017    EUR     51.40
BNP Paribas Emissions-    19.00  6/22/2017    EUR     48.92
BNP Paribas Emissions-     5.00 12/21/2017    EUR     63.27
BNP Paribas Emissions-    28.00 12/21/2017    EUR     55.57
BNP Paribas Emissions-    21.00 12/22/2016    EUR     70.90
BNP Paribas Emissions-    24.00  3/23/2017    EUR     69.91
Goldman Sachs & Co Wert    6.00  1/25/2017    EUR     68.51
Goldman Sachs & Co Wert   16.00  6/21/2017    EUR     57.20
Goldman Sachs & Co Wert    7.00  9/20/2017    EUR     65.85
Goldman Sachs & Co Wert    6.00 12/20/2017    EUR     68.77
Goldman Sachs & Co Wert    7.00 12/20/2017    EUR     67.25
Societe Generale Effekt   14.09 12/23/2016    EUR     72.42
Societe Generale Effekt    2.76 12/23/2016    EUR     73.80
Societe Generale Effekt    3.78 12/23/2016    EUR     69.84
Societe Generale Effekt    4.88 12/23/2016    EUR     66.43
Societe Generale Effekt    6.26 12/23/2016    EUR     63.28
Societe Generale Effekt    8.66 12/23/2016    EUR     59.28
Societe Generale Effekt   10.40 12/23/2016    EUR     57.01
Societe Generale Effekt   12.34 12/23/2016    EUR     55.04
Societe Generale Effekt   14.36 12/23/2016    EUR     53.31
Societe Generale Effekt   13.54 12/23/2016    EUR     73.44
Societe Generale Effekt   16.20 12/23/2016    EUR     70.59
Vontobel Financial Prod    5.50 12/23/2016    EUR     64.11
Vontobel Financial Prod    8.00 12/23/2016    EUR     53.33
Vontobel Financial Prod    3.00  3/24/2017    EUR     74.80
Vontobel Financial Prod    4.55  3/24/2017    EUR     68.21
Vontobel Financial Prod    3.50  3/24/2017    EUR     72.98
Vontobel Financial Prod    4.00  3/24/2017    EUR     71.37
Vontobel Financial Prod    4.05  3/24/2017    EUR     69.74
Vontobel Financial Prod    4.55  3/24/2017    EUR     67.15
Vontobel Financial Prod    4.60  3/24/2017    EUR     65.93
Commerzbank AG             6.50  1/20/2017    EUR     69.65
Vontobel Financial Prod    8.00  1/27/2017    EUR     69.11
Vontobel Financial Prod    6.50  1/27/2017    EUR     72.58
DZ Bank AG Deutsche Zen    4.00  6/23/2017    EUR     68.03
Vontobel Financial Prod   10.00  1/27/2017    EUR     66.17
Vontobel Financial Prod   12.00  1/27/2017    EUR     63.59
Vontobel Financial Prod   14.00  1/27/2017    EUR     61.34
DZ Bank AG Deutsche Zen    8.00 12/19/2016    EUR     68.96
DZ Bank AG Deutsche Zen    9.10 12/19/2016    EUR     67.07
DZ Bank AG Deutsche Zen    7.40  3/20/2017    EUR     70.23
WGZ-Bank AG Westdeutsch    6.50  6/26/2017    EUR     74.71
HSBC Trinkaus & Burkhar   13.50 12/23/2016    EUR     57.35
HSBC Trinkaus & Burkhar    9.20 12/23/2016    EUR     62.00
HSBC Trinkaus & Burkhar   11.70  3/24/2017    EUR     59.81
HSBC Trinkaus & Burkhar    8.30  3/24/2017    EUR     63.75
HSBC Trinkaus & Burkhar    8.90  6/23/2017    EUR     63.06
HSBC Trinkaus & Burkhar    6.30  6/23/2017    EUR     67.05
HSBC Trinkaus & Burkhar    7.80 10/28/2016    EUR     63.82
HSBC Trinkaus & Burkhar   10.70  1/27/2017    EUR     60.39
HSBC Trinkaus & Burkhar    7.20  1/27/2017    EUR     65.46
DZ Bank AG Deutsche Zen    8.00  3/24/2017    EUR     68.86
DZ Bank AG Deutsche Zen    6.00 12/23/2016    EUR     65.20
DZ Bank AG Deutsche Zen    8.00 12/23/2016    EUR     67.10
DZ Bank AG Deutsche Zen    8.00  3/24/2017    EUR     68.84
DZ Bank AG Deutsche Zen    5.00  6/23/2017    EUR     66.75
DZ Bank AG Deutsche Zen    8.25 12/23/2016    EUR     72.09
DZ Bank AG Deutsche Zen   12.75 12/23/2016    EUR     65.33
DZ Bank AG Deutsche Zen    7.25  2/24/2017    EUR     72.65
DZ Bank AG Deutsche Zen   11.25  2/24/2017    EUR     66.79
DZ Bank AG Deutsche Zen    7.00  3/24/2017    EUR     72.85
DZ Bank AG Deutsche Zen   11.50  3/24/2017    EUR     67.71
DZ Bank AG Deutsche Zen    8.90 12/19/2016    EUR     73.81
DZ Bank AG Deutsche Zen    8.40  3/20/2017    EUR     74.97
DZ Bank AG Deutsche Zen   10.50 12/19/2016    EUR     65.86
DZ Bank AG Deutsche Zen    8.75  3/20/2017    EUR     67.31
UBS AG/London             11.00  1/27/2017    CHF     51.46
Deutsche Bank AG           7.20 12/20/2016    EUR     58.60
Deutsche Bank AG           6.20 12/20/2016    EUR     71.10
Deutsche Bank AG           5.20 12/20/2016    EUR     70.90
DZ Bank AG Deutsche Zen    4.00 12/23/2016    EUR     67.18
Vontobel Financial Prod    9.40 10/28/2016    EUR     66.76
BNP Paribas Emissions-     8.00  3/23/2017    EUR     74.43
BNP Paribas Emissions-    28.00  3/23/2017    EUR     57.99
BNP Paribas Emissions-    27.00 12/21/2017    EUR     64.24
BNP Paribas Emissions-    21.00 12/22/2016    EUR     74.98
BNP Paribas Emissions-    19.00  6/22/2017    EUR     69.25
BNP Paribas Emissions-    19.00  3/23/2017    EUR     69.20
BNP Paribas Emissions-     8.00  3/23/2017    EUR     63.49
BNP Paribas Emissions-    22.00  3/23/2017    EUR     51.26
BNP Paribas Emissions-    29.00  3/23/2017    EUR     49.58
BNP Paribas Emissions-    10.00 12/21/2017    EUR     61.24
BNP Paribas Emissions-    29.00 12/21/2017    EUR     67.90
BNP Paribas Emissions-    29.00  3/23/2017    EUR     73.61
BNP Paribas Emissions-    27.00 12/21/2017    EUR     68.30
Vontobel Financial Prod   18.00  3/24/2017    EUR     73.98
UBS AG/London              7.00  7/17/2017    CHF     45.18
Notenstein La Roche Pri    4.00  7/24/2019    CHF     69.96
Landesbank Baden-Wuertt    3.00  8/24/2018    EUR     73.97
Landesbank Baden-Wuertt    3.40  8/24/2018    EUR     71.00
Bank Julius Baer & Co L    9.60 10/28/2016    EUR     73.90
Credit Suisse AG/Nassau    7.00 11/11/2016    EUR     73.42
Credit Suisse AG/London    7.25   5/9/2017    CHF     72.41
DZ Bank AG Deutsche Zen   14.00 11/25/2016    EUR     73.24
DZ Bank AG Deutsche Zen    5.00 11/25/2016    EUR     70.36
DZ Bank AG Deutsche Zen    5.00 11/25/2016    EUR     74.83
DZ Bank AG Deutsche Zen    5.75 11/25/2016    EUR     73.75
DZ Bank AG Deutsche Zen    9.00 12/23/2016    EUR     70.16
DZ Bank AG Deutsche Zen    9.50 12/23/2016    EUR     66.15
Commerzbank AG             8.50 10/27/2016    EUR     74.89
Vontobel Financial Prod    6.90  12/9/2016    EUR     64.29
Vontobel Financial Prod   15.10 12/23/2016    EUR     72.32
Vontobel Financial Prod    8.25  3/10/2017    EUR     66.68
Vontobel Financial Prod    8.65  3/10/2017    EUR     44.44
Vontobel Financial Prod    9.00 12/23/2016    EUR     73.95
DZ Bank AG Deutsche Zen    7.00 12/19/2016    EUR     74.60
DZ Bank AG Deutsche Zen    5.00 12/19/2016    EUR     74.15
BNP Paribas Emissions-     3.50 12/22/2016    EUR     54.95
Vontobel Financial Prod   17.00 12/23/2016    EUR     69.03
UBS AG/London              6.10 11/25/2016    EUR     62.73
DZ Bank AG Deutsche Zen    7.10 11/23/2016    EUR     45.24
UBS AG/London              7.50  2/10/2017    EUR     65.89
UBS AG/London             10.90  2/10/2017    EUR     67.81
UBS AG/London              4.70  2/10/2017    EUR     47.20
UBS AG/London              8.40  12/9/2016    EUR     64.83
UBS AG/London             12.00  12/9/2016    EUR     73.82
Goldman Sachs & Co Wert   21.00 10/26/2016    EUR     73.39
Goldman Sachs & Co Wert   20.00 11/23/2016    EUR     74.82
Goldman Sachs & Co Wert   20.00 10/26/2016    EUR     70.53
Goldman Sachs & Co Wert   19.00 11/23/2016    EUR     71.93
Goldman Sachs & Co Wert   21.00 11/23/2016    EUR     69.37
Goldman Sachs & Co Wert   14.00 11/23/2016    EUR     40.03
Goldman Sachs & Co Wert   17.00 11/23/2016    EUR     38.13
Goldman Sachs & Co Wert   20.00 11/23/2016    EUR     70.41
Goldman Sachs & Co Wert   25.00 11/23/2016    EUR     73.52
Goldman Sachs & Co Wert   23.00 12/21/2016    EUR     74.88
Goldman Sachs & Co Wert   14.00 10/26/2016    EUR     70.75
Goldman Sachs & Co Wert   13.00 11/23/2016    EUR     71.78
Goldman Sachs & Co Wert   20.00 11/23/2016    EUR     64.65
Goldman Sachs & Co Wert   19.00 12/21/2016    EUR     65.93
Goldman Sachs & Co Wert   13.00  9/20/2017    EUR     73.45
Bank Julius Baer & Co L    9.80  11/7/2016    EUR     36.70
UBS AG/London             12.00  11/4/2016    CHF     28.48
Leonteq Securities AG     10.00 11/16/2016    CHF     69.86
UBS AG                     5.50 12/23/2016    EUR     71.11
UBS AG                    13.75 12/23/2016    EUR     67.12
UBS AG                     6.00 12/23/2016    EUR     73.55
UBS AG                     8.00 12/23/2016    EUR     68.79
UBS AG                     7.50 12/23/2016    EUR     40.77
UBS AG                     6.00 12/23/2016    EUR     73.04
UBS AG                     8.00 12/23/2016    EUR     69.57
UBS AG                     7.50 12/23/2016    EUR     67.53
UBS AG                     5.50 12/23/2016    EUR     44.13
UBS AG                    11.00 12/23/2016    EUR     72.17
Notenstein La Roche Pri    7.80  11/9/2016    CHF     55.37
Commerzbank AG             4.25 10/27/2016    EUR     49.81
Commerzbank AG             4.75 10/27/2016    EUR     48.73
Commerzbank AG             5.25 10/27/2016    EUR     47.70
Commerzbank AG             6.00 10/27/2016    EUR     46.72
Commerzbank AG             6.50 10/27/2016    EUR     45.79
Commerzbank AG             7.25 10/27/2016    EUR     44.91
Commerzbank AG             8.00 10/27/2016    EUR     44.07
Commerzbank AG             8.75 10/27/2016    EUR     43.25
Commerzbank AG             6.00 10/27/2016    EUR     74.04
Commerzbank AG             6.75 10/27/2016    EUR     72.42
Commerzbank AG             7.25 10/27/2016    EUR     70.85
Commerzbank AG             8.00 10/27/2016    EUR     69.38
Commerzbank AG             8.75 10/27/2016    EUR     67.97
Commerzbank AG             9.50 10/27/2016    EUR     66.62
Commerzbank AG            10.25 10/27/2016    EUR     65.40
Commerzbank AG            11.00 10/27/2016    EUR     64.16
Commerzbank AG            10.75 10/27/2016    EUR     72.44
Commerzbank AG            12.75 10/27/2016    EUR     69.04
Commerzbank AG            11.50 10/27/2016    EUR     67.84
DZ Bank AG Deutsche Zen    8.75 10/28/2016    EUR     63.66
DZ Bank AG Deutsche Zen    5.50 10/28/2016    EUR     44.60
DZ Bank AG Deutsche Zen    6.50 12/23/2016    EUR     43.41
Credit Suisse AG/London    8.00 10/31/2016    CHF     72.40
PKVIT OOO                 11.00 10/14/2020    RUB     62.27
Credit Suisse AG/London    8.50  11/3/2016    CHF     74.05
DZ Bank AG Deutsche Zen    7.50 12/19/2016    EUR     42.55
Commerzbank AG             7.50 10/27/2016    EUR     45.94
Vontobel Financial Prod   11.00 12/23/2016    EUR     74.63
Commerzbank AG            11.25 10/27/2016    EUR     67.93
Commerzbank AG             6.50 10/27/2016    EUR     73.68
Commerzbank AG             9.50 10/27/2016    EUR     68.48
Societe Generale Effekt    8.78  6/23/2017    EUR     74.91
Societe Generale Effekt    2.72 11/25/2016    EUR     54.73
Societe Generale Effekt    4.00 11/25/2016    EUR     51.29
Societe Generale Effekt    5.58 11/25/2016    EUR     48.36
Societe Generale Effekt    5.05  6/23/2017    EUR     56.30
Societe Generale Effekt    6.63  6/23/2017    EUR     53.44
Societe Generale Effekt    8.47  6/23/2017    EUR     50.91
Societe Generale Effekt    5.29 11/25/2016    EUR     43.77
Societe Generale Effekt    5.97 11/25/2016    EUR     42.62
Societe Generale Effekt    7.75 11/25/2016    EUR     40.26
Societe Generale Effekt    8.81  6/23/2017    EUR     46.06
Societe Generale Effekt    9.62  6/23/2017    EUR     45.20
Societe Generale Effekt   11.68  6/23/2017    EUR     43.52
Commerzbank AG             7.50 10/27/2016    EUR     68.66
Commerzbank AG             9.50 10/27/2016    EUR     65.23
Commerzbank AG            11.75 10/27/2016    EUR     62.18
Commerzbank AG            11.50 10/27/2016    EUR     73.57
Commerzbank AG            13.50 10/27/2016    EUR     70.44
Commerzbank AG             8.00 10/27/2016    EUR     72.27
Commerzbank AG            10.25 10/27/2016    EUR     68.87
Commerzbank AG             7.00 10/27/2016    EUR     46.57
Commerzbank AG             8.50 10/27/2016    EUR     43.90
Commerzbank AG            10.00 10/27/2016    EUR     41.63
Commerzbank AG            11.75 10/27/2016    EUR     39.63
Commerzbank AG            13.50 10/27/2016    EUR     37.85
Vontobel Financial Prod   13.00 12/23/2016    EUR     74.51
Credit Suisse AG/Nassau    8.00  11/7/2016    CHF     55.08
Commerzbank AG             9.00 10/27/2016    EUR     71.36
Landesbank Baden-Wuertt    5.00  4/28/2017    EUR     72.97
Landesbank Baden-Wuertt    3.00  4/28/2017    EUR     53.06
Landesbank Baden-Wuertt    4.00  4/28/2017    EUR     50.62
Landesbank Baden-Wuertt    5.00  4/28/2017    EUR     48.88
Landesbank Baden-Wuertt    3.00  4/28/2017    EUR     63.84
Landesbank Baden-Wuertt    4.00  4/28/2017    EUR     61.94
Leonteq Securities AG     16.40   2/6/2017    CHF     53.37
Leonteq Securities AG     10.00   2/6/2017    CHF     59.01
Commerzbank AG             7.00 10/27/2016    EUR     43.63
Vontobel Financial Prod   19.50 12/23/2016    EUR     66.53
Vontobel Financial Prod   15.50 12/23/2016    EUR     71.18
Vontobel Financial Prod   10.50 12/23/2016    EUR     73.02
Vontobel Financial Prod    8.00 12/23/2016    EUR     54.73
Vontobel Financial Prod    6.00 12/23/2016    EUR     57.19
Vontobel Financial Prod    4.50 12/23/2016    EUR     60.11
Vontobel Financial Prod   10.50 12/23/2016    EUR     52.68
Credit Suisse AG/London    8.00  3/29/2019    USD     10.08
Credit Suisse AG/London    8.00  3/29/2019    USD     10.10
DZ Bank AG Deutsche Zen   15.00 12/23/2016    EUR     72.60
DZ Bank AG Deutsche Zen   13.00  3/24/2017    EUR     74.78
DZ Bank AG Deutsche Zen   15.50  4/28/2017    EUR     73.14
Vontobel Financial Prod   16.30   9/8/2017    EUR     71.95
Goldman Sachs & Co Wert   20.00 10/26/2016    EUR     71.90
Goldman Sachs & Co Wert   22.00 11/23/2016    EUR     56.03
Goldman Sachs & Co Wert   21.00 12/21/2016    EUR     57.50
Goldman Sachs & Co Wert   16.00  6/21/2017    EUR     63.38
Goldman Sachs & Co Wert   18.00 10/26/2016    EUR     71.07
Goldman Sachs & Co Wert   21.00 10/26/2016    EUR     66.95
Goldman Sachs & Co Wert   16.00  3/22/2017    EUR     73.00
UniCredit Bank AG          4.80 12/22/2016    EUR     68.12
UniCredit Bank AG          4.40 12/22/2016    EUR     69.46
UniCredit Bank AG          4.00 12/22/2016    EUR     52.69
UniCredit Bank AG          5.60 12/22/2016    EUR     65.61
UniCredit Bank AG          4.00 12/22/2016    EUR     55.68
UniCredit Bank AG          5.20 12/22/2016    EUR     66.84
UniCredit Bank AG          4.25 12/22/2016    EUR     51.71
UniCredit Bank AG          4.50 12/22/2016    EUR     51.26
UniCredit Bank AG          4.00 12/22/2016    EUR     52.16
UniCredit Bank AG          4.00 12/22/2016    EUR     72.41
UniCredit Bank AG          4.75 12/22/2016    EUR     50.82
UniCredit Bank AG          5.00 12/22/2016    EUR     50.39
Leonteq Securities AG      9.00  1/30/2017    CHF     69.37
Notenstein La Roche Pri    6.00 10/30/2017    CHF     74.10
HSBC Trinkaus & Burkhar   13.50 12/23/2016    EUR     72.98
Societe Generale Effekt    5.61 11/25/2016    EUR     47.87
Deutsche Bank AG           6.20  3/21/2017    EUR     73.20
Deutsche Bank AG           8.20  3/21/2017    EUR     74.20
Deutsche Bank AG           8.20 12/20/2016    EUR     72.80
Commerzbank AG            11.75  3/23/2017    EUR     74.00
Commerzbank AG            14.00  3/23/2017    EUR     70.39
Commerzbank AG            16.75  3/23/2017    EUR     67.40
Landesbank Baden-Wuertt    9.00 10/28/2016    EUR     74.40
Lehman Brothers Treasur    2.00 11/16/2009    EUR      0.75
Lehman Brothers Treasur    3.70   6/6/2009    EUR      0.75
Lehman Brothers Treasur    8.50   7/6/2009    CHF      0.75
Lehman Brothers Treasur    6.50  7/24/2026    EUR      0.75
Lehman Brothers Treasur    4.50   8/2/2009    USD      0.75
SG Issuer SA               6.65 10/10/2021    EUR     64.26
Lehman Brothers Treasur    4.60  11/9/2011    EUR     11.88
Lehman Brothers Treasur    4.60 10/11/2017    ILS     11.88
BNP Paribas Emissions-     6.00 12/22/2016    EUR     51.73
BNP Paribas Emissions-     8.50 12/22/2016    EUR     67.85
BNP Paribas Emissions-    10.00 12/22/2016    EUR     65.57
BNP Paribas Emissions-    15.00 12/22/2016    EUR     58.02
BNP Paribas Emissions-     7.50 12/22/2016    EUR     72.90
DZ Bank AG Deutsche Zen    7.50 12/19/2016    EUR     74.72
UBS AG/London             10.40  8/11/2017    EUR     67.46
DekaBank Deutsche Giroz    3.15   2/3/2017    EUR     56.87
Bayerische Landesbank      2.60 10/19/2018    EUR     59.33
Notenstein La Roche Pri    4.00  9/27/2019    CHF     67.97
Notenstein La Roche Pri    4.50  3/27/2018    EUR     51.10
Notenstein La Roche Pri    6.50  9/27/2016    CHF     72.02
Notenstein La Roche Pri    5.00  3/27/2019    CHF     65.72
Credit Suisse AG/Nassau    7.00  10/3/2016    CHF     65.51
Zurcher Kantonalbank Fi    5.00  9/26/2016    CHF     61.22
Landesbank Hessen-Thuer    6.20  7/24/2020    EUR     62.27
DekaBank Deutsche Giroz    2.75  9/18/2018    EUR     71.72
DekaBank Deutsche Giroz    2.70  3/16/2018    EUR     51.28
Vontobel Financial Prod    7.25 12/23/2016    EUR     67.33
Vontobel Financial Prod    7.65 12/23/2016    EUR     72.32
Vontobel Financial Prod    5.85 12/23/2016    EUR     66.63
Vontobel Financial Prod    7.25 12/23/2016    EUR     54.29
Vontobel Financial Prod    4.00 12/23/2016    EUR     64.01
Vontobel Financial Prod    7.35 12/23/2016    EUR     54.78
Vontobel Financial Prod    3.85 12/23/2016    EUR     62.78
Vontobel Financial Prod    6.65 12/23/2016    EUR     39.39
Vontobel Financial Prod    3.15 12/23/2016    EUR     46.12
Vontobel Financial Prod    7.45 12/23/2016    EUR     49.35
Vontobel Financial Prod    3.05 12/23/2016    EUR     60.21
Vontobel Financial Prod    7.50 12/23/2016    EUR     64.07
Notenstein La Roche Pri    3.40  3/21/2025    CHF     73.08
Credit Suisse AG/Nassau    7.00 10/10/2016    CHF     65.63
Notenstein La Roche Pri    7.20  10/7/2016    CHF     69.29
Notenstein La Roche Pri    4.70   4/6/2018    CHF     72.22
Bayerische Landesbank      3.10  11/4/2016    EUR     46.69
Bayerische Landesbank      3.10  11/4/2016    EUR     63.48
Vontobel Financial Prod    3.50   4/6/2017    EUR     65.17
Societe Generale SA       25.50  3/30/2017    USD     42.71
Bank Julius Baer & Co L    7.80 10/14/2016    CHF     49.40
Landesbank Hessen-Thuer    4.00  4/30/2019    EUR     50.28
Bank Julius Baer & Co L    9.40 10/14/2016    EUR     47.90
Bank Julius Baer & Co L   14.00 10/14/2016    USD     74.50
BNP Paribas Emissions-     7.50 12/22/2016    EUR     68.02
BNP Paribas Emissions-     8.00 12/22/2016    EUR     70.60
BNP Paribas Emissions-     9.50 12/22/2016    EUR     66.29
BNP Paribas Emissions-     6.00 12/22/2016    EUR     58.80
BNP Paribas Emissions-     8.50 12/22/2016    EUR     52.51
BNP Paribas Emissions-     9.50 12/22/2016    EUR     71.28
BNP Paribas Emissions-     6.50 12/22/2016    EUR     40.76
BNP Paribas Emissions-     8.50 12/22/2016    EUR     37.55
BNP Paribas Emissions-     5.00 12/22/2016    EUR     63.25
BNP Paribas Emissions-     5.00 12/22/2016    EUR     69.83
BNP Paribas Emissions-     8.50 12/22/2016    EUR     74.48
BNP Paribas Emissions-     7.00 12/22/2016    EUR     69.66
BNP Paribas Emissions-     8.50 12/22/2016    EUR     67.08
BNP Paribas Emissions-     9.00 12/22/2016    EUR     49.80
DekaBank Deutsche Giroz    3.25  5/18/2018    EUR     71.04
Credit Suisse AG/Nassau    6.25 10/10/2016    EUR     64.62
Deutsche Bank AG           4.20 12/20/2016    EUR     71.20
Deutsche Bank AG           5.20 12/20/2016    EUR     68.90
Deutsche Bank AG           4.20 12/20/2016    EUR     68.60
Deutsche Bank AG           6.20 12/20/2016    EUR     69.10
Deutsche Bank AG           4.20 12/20/2016    EUR     66.20
Deutsche Bank AG           6.20 12/20/2016    EUR     66.70
Deutsche Bank AG           5.20 12/20/2016    EUR     66.40
Deutsche Bank AG           4.20 12/20/2016    EUR     72.80
Deutsche Bank AG           4.20 12/20/2016    EUR     69.50
Deutsche Bank AG           4.20 12/20/2016    EUR     53.40
Deutsche Bank AG           5.20 12/20/2016    EUR     53.60
Deutsche Bank AG           6.20 12/20/2016    EUR     53.90
Deutsche Bank AG           4.20 12/20/2016    EUR     65.90
Deutsche Bank AG           4.20 12/20/2016    EUR     63.50
Deutsche Bank AG           4.20 12/20/2016    EUR     61.30
Deutsche Bank AG           4.20 12/20/2016    EUR     51.30
Deutsche Bank AG           5.20 12/20/2016    EUR     51.50
Deutsche Bank AG           6.20 12/20/2016    EUR     51.80
Deutsche Bank AG           4.20 12/20/2016    EUR     40.20
Deutsche Bank AG           5.20 12/20/2016    EUR     39.20
Deutsche Bank AG           4.20 12/20/2016    EUR     38.90
Deutsche Bank AG           6.20 12/20/2016    EUR     39.40
Deutsche Bank AG           6.20 12/20/2016    EUR     65.20
Deutsche Bank AG           4.20 12/20/2016    EUR     64.70
Deutsche Bank AG           5.20 12/20/2016    EUR     65.00
Deutsche Bank AG           6.20 12/20/2016    EUR     63.00
Deutsche Bank AG           5.20 12/20/2016    EUR     62.80
Deutsche Bank AG           4.20 12/20/2016    EUR     62.50
Deutsche Bank AG           6.20 12/20/2016    EUR     61.00
Deutsche Bank AG           4.20 12/20/2016    EUR     60.50
Deutsche Bank AG           5.20 12/20/2016    EUR     60.70
Deutsche Bank AG           6.20 12/20/2016    EUR     69.50
Deutsche Bank AG           4.20 12/20/2016    EUR     69.10
Deutsche Bank AG           5.20 12/20/2016    EUR     69.30
Deutsche Bank AG           4.20 12/20/2016    EUR     66.10
Deutsche Bank AG           5.20 12/20/2016    EUR     66.30
Deutsche Bank AG           6.20 12/20/2016    EUR     66.60
Deutsche Bank AG           4.20 12/20/2016    EUR     54.80
Deutsche Bank AG           4.20 12/20/2016    EUR     52.50
Deutsche Bank AG           5.20 12/20/2016    EUR     52.70
Deutsche Bank AG           6.20 12/20/2016    EUR     53.00
Deutsche Bank AG           5.20 12/20/2016    EUR     50.60
Deutsche Bank AG           6.20 12/20/2016    EUR     50.80
Deutsche Bank AG           4.20 12/20/2016    EUR     50.30
Societe Generale Effekt    8.06 10/10/2016    EUR     73.29
Societe Generale Effekt    6.89 10/10/2016    EUR     69.60
Societe Generale Effekt    8.76 10/10/2016    EUR     65.51
Societe Generale Effekt    8.00 10/10/2016    EUR     59.90
Societe Generale Effekt    9.88 10/10/2016    EUR     56.25
Societe Generale Effekt   10.33 10/10/2016    EUR     40.82
Societe Generale Effekt   11.97 10/10/2016    EUR     38.69
Societe Generale Effekt    7.51 10/10/2016    EUR     42.74
Societe Generale Effekt    9.26 10/10/2016    EUR     40.39
Societe Generale Effekt    5.64 10/10/2016    EUR     72.98
Societe Generale Effekt    7.28 10/10/2016    EUR     69.00
Societe Generale Effekt    7.17 10/10/2016    EUR     63.56
Societe Generale Effekt    9.00 10/10/2016    EUR     60.05
Societe Generale Effekt   12.26 10/10/2016    EUR     71.92
Societe Generale Effekt    6.07 10/10/2016    EUR     69.96
Societe Generale Effekt    8.16 10/10/2016    EUR     65.43
Societe Generale Effekt    8.36 10/10/2016    EUR     74.21
Societe Generale Effekt   10.26 10/10/2016    EUR     70.12
Societe Generale Effekt    6.94 10/10/2016    EUR     59.31
Societe Generale Effekt    8.67 10/10/2016    EUR     56.04
Notenstein La Roche Pri    5.20 10/13/2016    CHF     70.22
Notenstein La Roche Pri    4.80 10/24/2018    CHF     68.65
Notenstein La Roche Pri    4.20  4/10/2018    EUR     55.17
UBS AG/London              7.00  12/9/2016    EUR     39.21
UBS AG/London              3.90  12/9/2016    EUR     45.65
UBS AG/London              7.50  12/9/2016    EUR     54.13
UBS AG/London              4.40  12/9/2016    EUR     63.33
UBS AG/London              3.10  12/9/2016    EUR     48.51
UBS AG/London              5.00  12/9/2016    EUR     71.52
UBS AG/London              7.20  12/9/2016    EUR     62.01
UBS AG/London              7.00  12/9/2016    EUR     74.55
UBS AG/London              3.90  12/9/2016    EUR     72.52
UBS AG/London              8.20  12/9/2016    EUR     71.14
Notenstein Finance Guer    9.00   4/1/2019    EUR     46.16
Notenstein Finance Guer    2.95   4/7/2017    CHF     70.95
WGZ-Bank AG Westdeutsch    4.50  9/27/2016    EUR     53.09
Bank Julius Baer & Co L    7.00  10/7/2016    CHF     34.40
Vontobel Financial Prod   13.35 12/23/2016    EUR     71.27
Vontobel Financial Prod   12.95 12/23/2016    EUR     66.87
Vontobel Financial Prod   12.70 12/23/2016    EUR     55.22
Vontobel Financial Prod   14.90 12/23/2016    EUR     72.76
Vontobel Financial Prod   13.40 12/23/2016    EUR     60.88
Vontobel Financial Prod   13.90 12/23/2016    EUR     31.65
Vontobel Financial Prod   13.95 12/23/2016    EUR     69.25
Vontobel Financial Prod   12.85 12/23/2016    EUR     42.71
DekaBank Deutsche Giroz    3.00  3/29/2018    EUR     71.95
DekaBank Deutsche Giroz    2.80   4/1/2019    EUR     71.69
DekaBank Deutsche Giroz    2.50  3/31/2017    EUR     64.28
Bayerische Landesbank      2.70   7/6/2018    EUR     47.96
Bayerische Landesbank      2.70   7/6/2018    EUR     61.32
Notenstein La Roche Pri    8.30 10/17/2016    USD     47.09
Notenstein La Roche Pri    7.30 10/17/2016    EUR     50.45
Notenstein La Roche Pri    6.40 10/17/2016    CHF     65.10
Notenstein La Roche Pri    3.50 10/17/2016    CHF     73.11
Notenstein La Roche Pri    7.24 10/13/2016    EUR     52.13
Zurcher Kantonalbank Fi    6.50  4/10/2018    CHF     59.55
Landesbank Hessen-Thuer    9.50  5/15/2020    EUR     69.45
Vontobel Financial Prod    3.10 12/23/2016    EUR     63.79
Vontobel Financial Prod    2.65 12/23/2016    EUR     46.00
Vontobel Financial Prod    3.10 12/23/2016    EUR     68.20
Vontobel Financial Prod    3.25 12/23/2016    EUR     60.25
Societe Generale Effekt    7.06 10/10/2016    EUR     73.76
Societe Generale Effekt    7.88 10/10/2016    EUR     71.55
Societe Generale Effekt    8.76 10/10/2016    EUR     69.47
Societe Generale Effekt    9.70 10/10/2016    EUR     67.52
Societe Generale Effekt   10.69 10/10/2016    EUR     65.67
Bank Julius Baer & Co L    9.42 10/24/2016    EUR     72.15
Zurcher Kantonalbank Fi   10.00 10/31/2016    CHF     53.75
Zurcher Kantonalbank Fi   11.60 10/31/2016    CHF     74.74
Landesbank Hessen-Thuer    8.40   5/8/2020    EUR     72.36
Credit Suisse AG/Nassau    6.25 10/31/2016    EUR     52.10
Bank Julius Baer & Co L    8.50  11/4/2016    CHF     53.80
Bank Julius Baer & Co L   10.00  11/4/2016    CHF     65.30
Leonteq Securities AG      5.00   5/7/2019    CHF     70.25
Notenstein La Roche Pri    5.20  11/4/2016    EUR     53.46
Leonteq Securities AG     17.60 10/24/2016    CHF     55.66
Leonteq Securities AG/G    3.22  11/8/2016    USD     74.06
Landesbank Baden-Wuertt    3.25  8/25/2017    EUR     47.23
Bayerische Landesbank      2.70  7/27/2018    EUR     65.31
Landesbank Baden-Wuertt    3.00  6/28/2019    EUR     65.79
Commerzbank AG             7.24  4/27/2017    EUR     40.03
Commerzbank AG             6.24  4/27/2017    EUR     70.22
Commerzbank AG             4.40  4/29/2019    EUR     66.43
Leonteq Securities AG      8.00  4/24/2017    USD     65.86
DekaBank Deutsche Giroz    3.25  4/20/2018    EUR     41.97
DekaBank Deutsche Giroz    2.60  4/21/2017    EUR     53.26
Landesbank Hessen-Thuer    4.00   6/5/2019    EUR     65.22
Landesbank Baden-Wuertt    3.15 11/25/2016    EUR     50.46
Deutsche Bank AG           6.80  3/28/2017    EUR     68.10
Notenstein La Roche Pri    4.00   5/8/2018    CHF     55.79
Notenstein La Roche Pri    8.20  11/8/2016    EUR     57.51
Raiffeisen Centrobank A    6.51  6/21/2017    EUR     74.85
Landesbank Baden-Wuertt    5.00 10/28/2016    EUR     73.95
Landesbank Baden-Wuertt    6.00 10/28/2016    EUR     71.07
Landesbank Baden-Wuertt    3.00 10/28/2016    EUR     59.29
Landesbank Baden-Wuertt    6.00 10/28/2016    EUR     72.63
Landesbank Baden-Wuertt    3.00 10/28/2016    EUR     71.62
Landesbank Baden-Wuertt    4.50 10/28/2016    EUR     66.73
Landesbank Baden-Wuertt    2.50 10/28/2016    EUR     64.24
Landesbank Baden-Wuertt    3.50 10/28/2016    EUR     60.77
Landesbank Baden-Wuertt    4.50 10/28/2016    EUR     58.86
Landesbank Baden-Wuertt    3.00 10/28/2016    EUR     65.22
Landesbank Baden-Wuertt    4.50 10/28/2016    EUR     59.66
Landesbank Baden-Wuertt    3.00 10/28/2016    EUR     46.29
Landesbank Baden-Wuertt    4.00 10/28/2016    EUR     43.57
Landesbank Baden-Wuertt    5.00 10/28/2016    EUR     41.61
Landesbank Baden-Wuertt    3.00 10/28/2016    EUR     58.20
Landesbank Baden-Wuertt    4.00 10/28/2016    EUR     55.68
Landesbank Baden-Wuertt    4.00 10/28/2016    EUR     74.09
Landesbank Baden-Wuertt    5.00 10/28/2016    EUR     71.23
Landesbank Baden-Wuertt    2.50 10/28/2016    EUR     63.42
Landesbank Baden-Wuertt    3.50 10/28/2016    EUR     59.88
Landesbank Baden-Wuertt    4.50 10/28/2016    EUR     57.09
Landesbank Baden-Wuertt    3.00 10/28/2016    EUR     71.70
Landesbank Baden-Wuertt    4.50 10/28/2016    EUR     66.55
HSBC Trinkaus & Burkhar    7.40 12/23/2016    EUR     69.55
HSBC Trinkaus & Burkhar    7.90 12/23/2016    EUR     71.91
HSBC Trinkaus & Burkhar    7.90 12/23/2016    EUR     52.38
HSBC Trinkaus & Burkhar    8.10 12/23/2016    EUR     38.63
HSBC Trinkaus & Burkhar    7.90 12/23/2016    EUR     54.97
HSBC Trinkaus & Burkhar    6.90 12/23/2016    EUR     66.73
HSBC Trinkaus & Burkhar    8.50 12/23/2016    EUR     59.96
HSBC Trinkaus & Burkhar    6.10 12/23/2016    EUR     65.56
HSBC Trinkaus & Burkhar    7.30 12/23/2016    EUR     55.76
HSBC Trinkaus & Burkhar    9.10 12/23/2016    EUR     66.39
HSBC Trinkaus & Burkhar    6.60 12/23/2016    EUR     73.46
DekaBank Deutsche Giroz    2.75 10/29/2018    EUR     41.46
DekaBank Deutsche Giroz    2.00  4/27/2018    EUR     69.11
Notenstein Finance Guer    7.19   5/6/2019    EUR     62.73
DekaBank Deutsche Giroz    2.90 10/28/2016    EUR     68.42
DekaBank Deutsche Giroz    5.80 10/21/2016    EUR     68.25
DekaBank Deutsche Giroz    3.00  4/30/2019    EUR     65.02
UBS AG                     5.20 11/11/2016    EUR     74.32
UBS AG                     7.40 11/11/2016    EUR     54.41
UBS AG                     6.40 11/11/2016    EUR     70.61
UBS AG                     3.40 11/11/2016    EUR     65.64
UBS AG                     2.50 11/11/2016    EUR     68.48
UBS AG                     4.40 11/11/2016    EUR     61.95
UBS AG                     9.30 11/11/2016    EUR     62.75
UBS AG                     5.60 11/11/2016    EUR     58.71
UBS AG                     3.10 11/11/2016    EUR     68.17
Notenstein La Roche Pri    3.00  5/22/2019    CHF     73.81
Notenstein La Roche Pri    5.00 11/15/2016    CHF     74.12
EFG International Finan    6.26   5/7/2018    EUR     58.48
Landesbank Hessen-Thuer    3.15 12/12/2016    EUR     51.20
UniCredit Bank AG          4.30  7/28/2017    EUR     66.48
Landesbank Hessen-Thuer    7.40  6/12/2020    EUR     68.85
Landesbank Baden-Wuertt    3.55  8/25/2017    EUR     70.99
Credit Suisse AG/Nassau    8.00 11/21/2016    EUR     54.54
Zurcher Kantonalbank Fi    9.00 11/21/2016    CHF     56.48
Landesbank Baden-Wuertt    4.00  6/22/2018    EUR     47.59
Landesbank Baden-Wuertt    3.60  6/22/2018    EUR     59.47
Credit Suisse AG/Nassau    7.00 11/21/2016    CHF     55.70
Zurcher Kantonalbank Fi    5.37 11/18/2016    CHF     69.34
UBS AG                     7.40  5/17/2021    CHF     66.57
UBS AG                     7.40  5/17/2021    CHF     61.62
Notenstein La Roche Pri    8.00 11/22/2016    EUR     73.85
Notenstein La Roche Pri    7.20 11/22/2016    CHF     72.31
Vontobel Financial Prod   15.00  3/24/2017    EUR     70.15
Bank Julius Baer & Co L    7.60   3/8/2017    CHF     67.95
UBS AG/London             10.00  3/16/2017    CHF     45.08
DekaBank Deutsche Giroz    4.20  10/7/2016    EUR     50.37
Credit Suisse AG/London    5.00 10/21/2016    CHF     71.29
Vontobel Financial Prod    7.50 10/28/2016    EUR     66.93
Goldman Sachs & Co Wert    5.25 11/11/2016    EUR     39.03
Leonteq Securities AG      5.80   5/4/2017    CHF     74.75
UBS AG/London              6.25  4/18/2017    CHF     71.75
Notenstein La Roche Pri    6.50 10/24/2016    CHF     66.94
Leonteq Securities AG      5.60  4/24/2017    CHF     66.10
Leonteq Securities AG      7.20  4/24/2017    EUR     55.39
Vontobel Financial Prod    6.00 11/15/2016    EUR     39.66
Landesbank Hessen-Thuer    5.00 11/15/2016    EUR     52.90
Deutsche Bank AG           6.20 12/20/2016    EUR     64.40
Deutsche Bank AG           4.20 12/20/2016    EUR     66.50
Deutsche Bank AG           4.20 12/20/2016    EUR     63.90
Deutsche Bank AG           6.20 12/20/2016    EUR     67.00
Deutsche Bank AG           4.20 12/20/2016    EUR     55.70
Deutsche Bank AG           4.20 12/20/2016    EUR     49.30
Deutsche Bank AG           6.20 12/20/2016    EUR     49.80
Deutsche Bank AG           6.20 12/20/2016    EUR     48.00
Deutsche Bank AG           4.20 12/20/2016    EUR     74.00
Deutsche Bank AG           4.20 12/20/2016    EUR     58.10
Deutsche Bank AG           4.20 12/20/2016    EUR     47.60
Deutsche Bank AG           4.20 12/20/2016    EUR     41.60
Deutsche Bank AG           4.20 12/20/2016    EUR     35.50
Deutsche Bank AG           4.20 12/20/2016    EUR     37.70
Deutsche Bank AG           4.20 12/20/2016    EUR     68.40
Deutsche Bank AG           6.20 12/20/2016    EUR     38.20
Deutsche Bank AG           6.20 12/20/2016    EUR     37.00
Deutsche Bank AG           4.20 12/20/2016    EUR     62.90
Deutsche Bank AG           4.20 12/20/2016    EUR     36.50
Deutsche Bank AG           6.20 12/20/2016    EUR     71.80
Deutsche Bank AG           6.20 12/20/2016    EUR     36.00
Deutsche Bank AG           4.20 12/20/2016    EUR     67.00
Deutsche Bank AG           6.20 12/20/2016    EUR     59.10
Deutsche Bank AG           6.20 12/20/2016    EUR     57.30
Deutsche Bank AG           6.20 12/20/2016    EUR     72.70
Deutsche Bank AG           6.20 12/20/2016    EUR     63.90
Deutsche Bank AG           4.20 12/20/2016    EUR     72.30
Deutsche Bank AG           4.20 12/20/2016    EUR     63.40
Deutsche Bank AG           4.20 12/20/2016    EUR     58.60
Deutsche Bank AG           4.20 12/20/2016    EUR     56.80
Deutsche Bank AG           6.20 12/20/2016    EUR     61.40
Deutsche Bank AG           4.20 12/20/2016    EUR     60.90
Deutsche Bank AG           6.20 12/20/2016    EUR     67.50
Deutsche Bank AG           4.20 12/20/2016    EUR     48.40
Deutsche Bank AG           6.20 12/20/2016    EUR     48.80
Deutsche Bank AG           4.20 12/20/2016    EUR     57.40
DekaBank Deutsche Giroz    3.25  5/30/2018    EUR     73.99
Landesbank Baden-Wuertt    2.50 12/23/2016    EUR     74.44
Landesbank Baden-Wuertt    3.50 12/23/2016    EUR     67.74
Landesbank Baden-Wuertt    4.50 12/23/2016    EUR     62.76
Landesbank Baden-Wuertt    2.00 12/23/2016    EUR     57.42
Landesbank Baden-Wuertt    3.00 12/23/2016    EUR     53.45
Landesbank Baden-Wuertt    4.00 12/23/2016    EUR     50.47
Landesbank Baden-Wuertt    4.00 12/23/2016    EUR     73.55
Landesbank Baden-Wuertt    5.00 12/23/2016    EUR     48.24
Landesbank Baden-Wuertt    5.00 12/23/2016    EUR     70.23
Landesbank Baden-Wuertt    2.00 12/23/2016    EUR     71.19
Landesbank Baden-Wuertt    2.00 12/23/2016    EUR     73.85
Landesbank Baden-Wuertt    3.00 12/23/2016    EUR     65.89
Landesbank Baden-Wuertt    3.00 12/23/2016    EUR     68.96
Landesbank Baden-Wuertt    4.00 12/23/2016    EUR     62.37
Landesbank Baden-Wuertt    4.00 12/23/2016    EUR     64.72
Landesbank Baden-Wuertt    2.00 12/23/2016    EUR     56.24
Landesbank Baden-Wuertt    3.00  8/24/2018    EUR     60.42
Landesbank Baden-Wuertt    3.40  6/22/2018    EUR     68.18
Landesbank Baden-Wuertt    2.70  7/27/2018    EUR     66.67
Landesbank Baden-Wuertt    4.20  6/23/2017    EUR     59.50
Landesbank Baden-Wuertt    3.20  7/27/2018    EUR     60.02
Landesbank Baden-Wuertt    4.40  6/23/2017    EUR     73.24
Landesbank Baden-Wuertt    4.20  6/23/2017    EUR     41.67
Landesbank Baden-Wuertt    2.50 10/28/2016    EUR     52.06
Landesbank Baden-Wuertt    2.50 10/28/2016    EUR     64.91
Landesbank Baden-Wuertt    4.50 10/28/2016    EUR     63.23
Landesbank Baden-Wuertt    4.50 10/28/2016    EUR     45.86
Landesbank Baden-Wuertt    4.50 10/28/2016    EUR     68.57
Landesbank Baden-Wuertt    4.50 10/28/2016    EUR     57.89
Landesbank Baden-Wuertt    3.00 10/28/2016    EUR     47.09
Landesbank Baden-Wuertt    3.00 10/28/2016    EUR     70.09
Landesbank Baden-Wuertt    3.00 10/28/2016    EUR     69.68
Landesbank Baden-Wuertt    3.00 10/28/2016    EUR     64.17
Landesbank Baden-Wuertt    3.00 10/28/2016    EUR     73.75
Landesbank Baden-Wuertt    5.00 10/28/2016    EUR     62.32
Landesbank Baden-Wuertt    5.00 10/28/2016    EUR     74.74
Landesbank Baden-Wuertt    5.50 10/28/2016    EUR     72.66
Landesbank Baden-Wuertt    5.50 10/28/2016    EUR     43.84
Landesbank Baden-Wuertt    5.50 10/28/2016    EUR     55.38
Landesbank Baden-Wuertt    3.50 10/28/2016    EUR     48.69
Landesbank Baden-Wuertt    3.50 10/28/2016    EUR     60.83
Landesbank Baden-Wuertt    4.00 10/28/2016    EUR     65.50
Landesbank Baden-Wuertt    6.50 10/28/2016    EUR     57.16
Landesbank Baden-Wuertt    6.00 10/28/2016    EUR     59.93
Landesbank Baden-Wuertt    3.00 10/27/2017    EUR     54.04
Landesbank Baden-Wuertt    3.00 10/27/2017    EUR     64.90
Landesbank Baden-Wuertt    5.00 10/27/2017    EUR     48.54
Landesbank Baden-Wuertt    5.00 10/27/2017    EUR     58.99
Landesbank Baden-Wuertt    4.00 10/27/2017    EUR     61.97
Landesbank Baden-Wuertt    3.50 10/27/2017    EUR     71.00
Landesbank Baden-Wuertt    2.50  2/24/2017    EUR     49.95
Landesbank Baden-Wuertt    2.50  2/24/2017    EUR     58.26
Landesbank Baden-Wuertt    2.50  2/24/2017    EUR     69.64
Landesbank Baden-Wuertt    2.50  2/24/2017    EUR     73.37
Landesbank Baden-Wuertt    2.50  2/24/2017    EUR     71.25
Landesbank Baden-Wuertt    2.50  2/24/2017    EUR     71.82
Landesbank Baden-Wuertt    3.50  2/24/2017    EUR     48.02
Landesbank Baden-Wuertt    3.50  2/24/2017    EUR     54.44
Landesbank Baden-Wuertt    3.50  2/24/2017    EUR     65.44
Landesbank Baden-Wuertt    3.50  2/24/2017    EUR     67.57
Landesbank Baden-Wuertt    3.50  2/24/2017    EUR     74.19
Landesbank Baden-Wuertt    3.50  2/24/2017    EUR     67.70
Landesbank Baden-Wuertt    4.50  2/24/2017    EUR     51.40
Landesbank Baden-Wuertt    4.50  2/24/2017    EUR     62.24
Landesbank Baden-Wuertt    4.50  2/24/2017    EUR     64.47
Landesbank Baden-Wuertt    4.50  2/24/2017    EUR     71.15
Landesbank Baden-Wuertt    4.50  2/24/2017    EUR     64.28
Landesbank Baden-Wuertt    5.50  2/24/2017    EUR     48.97
Landesbank Baden-Wuertt    5.50  2/24/2017    EUR     59.41
Landesbank Baden-Wuertt    5.50  2/24/2017    EUR     71.79
Landesbank Baden-Wuertt    5.50  2/24/2017    EUR     61.58
Landesbank Baden-Wuertt    4.00  2/24/2017    EUR     70.51
Landesbank Baden-Wuertt    4.00  2/24/2017    EUR     67.51
Landesbank Baden-Wuertt    5.00  2/24/2017    EUR     66.18
Landesbank Baden-Wuertt    5.00  2/24/2017    EUR     64.66
Landesbank Baden-Wuertt    6.00  2/24/2017    EUR     62.96
Landesbank Baden-Wuertt    3.60  9/22/2017    EUR     50.67
Landesbank Baden-Wuertt    4.60  6/23/2017    EUR     69.53
Landesbank Baden-Wuertt    4.00 10/28/2016    EUR     73.77
Landesbank Baden-Wuertt    3.25  7/28/2017    EUR     70.96
Landesbank Baden-Wuertt    3.90  7/28/2017    EUR     61.99
Landesbank Baden-Wuertt    3.60 12/23/2016    EUR     49.29
Landesbank Baden-Wuertt    4.70 10/28/2016    EUR     71.42
Landesbank Baden-Wuertt    4.00  3/24/2017    EUR     73.47
Landesbank Baden-Wuertt    5.00  3/24/2017    EUR     70.06
Landesbank Baden-Wuertt    3.00  3/24/2017    EUR     65.87
Landesbank Baden-Wuertt    5.00  3/24/2017    EUR     60.39
Landesbank Baden-Wuertt    5.00  3/24/2017    EUR     74.50
Landesbank Baden-Wuertt    6.00  3/24/2017    EUR     71.52
Landesbank Baden-Wuertt    3.00  3/24/2017    EUR     66.79
Landesbank Baden-Wuertt    4.00  3/24/2017    EUR     62.41
Landesbank Baden-Wuertt    5.00  3/24/2017    EUR     59.15
Landesbank Baden-Wuertt    6.00  3/24/2017    EUR     56.37
Landesbank Baden-Wuertt    3.00  3/24/2017    EUR     44.15
Landesbank Baden-Wuertt    4.00  3/24/2017    EUR     41.95
Landesbank Baden-Wuertt    5.00  3/24/2017    EUR     40.17
Landesbank Baden-Wuertt    3.00  3/24/2017    EUR     72.11
Landesbank Baden-Wuertt    4.50  3/24/2017    EUR     66.82
Landesbank Baden-Wuertt    6.00  3/24/2017    EUR     63.16
Landesbank Baden-Wuertt    3.00  3/24/2017    EUR     64.87
Landesbank Baden-Wuertt    4.00  3/24/2017    EUR     61.36
Landesbank Baden-Wuertt    5.00  3/24/2017    EUR     59.14
Landesbank Baden-Wuertt    2.50  3/24/2017    EUR     49.20
Landesbank Baden-Wuertt    3.00  3/24/2017    EUR     59.78
Landesbank Baden-Wuertt    4.00  3/24/2017    EUR     74.60
Landesbank Baden-Wuertt    5.00  3/24/2017    EUR     71.34
Landesbank Baden-Wuertt    6.00  3/24/2017    EUR     68.36
Landesbank Baden-Wuertt    3.05  8/25/2017    EUR     71.75
Landesbank Baden-Wuertt    3.00  3/24/2017    EUR     60.45
Landesbank Baden-Wuertt    4.00  3/24/2017    EUR     57.16
Landesbank Baden-Wuertt    5.50  3/24/2017    EUR     53.50
Landesbank Baden-Wuertt    4.50 10/28/2016    EUR     74.17
Landesbank Baden-Wuertt    3.00  7/28/2017    EUR     52.91
Landesbank Baden-Wuertt    5.00 12/23/2016    EUR     51.75
Landesbank Baden-Wuertt    4.00 12/23/2016    EUR     62.18
Landesbank Baden-Wuertt    4.80  6/23/2017    EUR     58.16
Landesbank Baden-Wuertt    4.00  6/23/2017    EUR     68.90
Landesbank Baden-Wuertt    3.25  7/28/2017    EUR     63.72
Landesbank Baden-Wuertt    3.00  6/23/2017    EUR     50.10
Landesbank Baden-Wuertt    4.10  7/28/2017    EUR     73.08
Landesbank Baden-Wuertt    3.15  8/25/2017    EUR     57.29
Landesbank Baden-Wuertt    4.40  8/25/2017    EUR     65.39
Landesbank Baden-Wuertt    3.70  8/25/2017    EUR     50.36
Landesbank Baden-Wuertt    3.00  6/23/2017    EUR     59.90
Landesbank Baden-Wuertt    4.50  8/25/2017    EUR     60.99
Landesbank Baden-Wuertt    3.55  8/25/2017    EUR     54.59
Landesbank Baden-Wuertt    3.70  9/22/2017    EUR     46.99
Landesbank Baden-Wuertt    3.75  9/22/2017    EUR     54.11
Landesbank Baden-Wuertt    3.90  9/22/2017    EUR     52.86
Landesbank Baden-Wuertt    3.20  9/22/2017    EUR     45.05
Landesbank Baden-Wuertt    3.00  6/22/2018    EUR     69.90
Landesbank Baden-Wuertt    3.10 11/24/2017    EUR     59.55
Landesbank Baden-Wuertt    3.50 11/24/2017    EUR     70.64
Landesbank Baden-Wuertt    3.40  6/23/2017    EUR     66.43
Landesbank Baden-Wuertt    3.85 10/27/2017    EUR     59.23
Landesbank Baden-Wuertt    3.00 11/24/2017    EUR     67.39
Landesbank Baden-Wuertt    3.40 11/24/2017    EUR     55.64
Vontobel Financial Prod    8.00 11/25/2016    EUR     49.50
Vontobel Financial Prod    6.50 11/25/2016    EUR     49.07
Landesbank Baden-Wuertt    2.50  1/25/2019    EUR     73.79
Landesbank Baden-Wuertt    3.50  1/26/2018    EUR     52.08
Landesbank Baden-Wuertt    3.45  3/22/2019    EUR     74.99
Landesbank Baden-Wuertt    4.50  3/23/2018    EUR     69.90
Landesbank Baden-Wuertt    3.00  6/28/2019    EUR     50.10
Landesbank Baden-Wuertt    2.50  6/28/2019    EUR     62.20
Landesbank Baden-Wuertt    3.00  6/28/2019    EUR     65.05
Landesbank Baden-Wuertt    3.50  6/22/2018    EUR     58.86
Landesbank Baden-Wuertt    4.00  8/25/2017    EUR     53.57
Landesbank Baden-Wuertt    3.00  9/22/2017    EUR     71.74
Landesbank Baden-Wuertt    3.00  9/28/2018    EUR     60.05
Landesbank Baden-Wuertt    3.75 10/27/2017    EUR     60.33
Landesbank Baden-Wuertt    3.00   1/4/2019    EUR     66.31
DZ Bank AG Deutsche Zen    7.30 12/19/2016    EUR     64.69
Bank Julius Baer & Co L    6.00 11/16/2016    CHF     72.25
Barclays Bank PLC          2.50   3/7/2017    EUR     48.94
HSBC Trinkaus & Burkhar    4.50  7/28/2017    EUR     72.63
EFG International Finan    6.00 11/30/2017    EUR     24.20
Commerzbank AG             4.00  7/19/2017    EUR     39.29
Landesbank Baden-Wuertt    3.85  8/25/2017    EUR     46.85
Vontobel Financial Prod   18.00 12/23/2016    EUR     73.95
HSBC Trinkaus & Burkhar    9.80 12/23/2016    EUR     71.73
DZ Bank AG Deutsche Zen    8.00 12/23/2016    EUR     72.59
Societe Generale Effekt    2.50  10/7/2016    EUR     62.00
Goldman Sachs & Co Wert   20.00 11/23/2016    EUR     68.45
Goldman Sachs & Co Wert   14.00 11/23/2016    EUR     65.28
Goldman Sachs & Co Wert   18.00 11/23/2016    EUR     60.18
Goldman Sachs & Co Wert   20.00 11/23/2016    EUR     42.27
Goldman Sachs & Co Wert   20.00 11/23/2016    EUR     72.87
Kaupthing ehf              3.75  2/15/2024    ISK     17.63
Vontobel Financial Prod   13.50 12/23/2016    EUR     73.74
Vontobel Financial Prod   10.45 10/28/2016    EUR     71.54
Lehman Brothers Treasur   18.25  10/2/2008    USD      0.75
Credit Suisse AG/London    5.00 10/13/2016    CHF     69.81
Deutsche Bank AG           5.50 12/20/2016    EUR     60.20
DZ Bank AG Deutsche Zen    5.80 12/23/2016    EUR     73.64
Lehman Brothers Treasur    1.50 10/12/2010    EUR      0.75
Lehman Brothers Treasur    7.00 10/22/2010    EUR      0.75
Lehman Brothers Treasur    5.75  6/15/2009    CHF      0.75
Lehman Brothers Treasur    7.50 10/24/2008    USD      0.75
Lehman Brothers Treasur   10.00  3/27/2009    USD      0.75
Lehman Brothers Treasur    7.00  4/14/2009    EUR      0.75
Lehman Brothers Treasur    7.75  1/30/2009    EUR      0.75
Lehman Brothers Treasur    0.25  7/21/2014    EUR      0.75
Lehman Brothers Treasur    4.95 10/25/2036    EUR      0.75
Lehman Brothers Treasur    8.00   8/3/2009    USD      0.75
Lehman Brothers Treasur    5.50  6/15/2009    CHF      0.75
Lehman Brothers Treasur    1.50 10/25/2011    EUR      0.75
Lehman Brothers Treasur    2.50 12/15/2011    GBP      0.75
Lehman Brothers Treasur    4.00 11/24/2016    EUR      0.75
Lehman Brothers Treasur    7.59 11/22/2009    MXN     11.88
Lehman Brothers Treasur    7.60  3/26/2009    EUR      0.75
Lehman Brothers Treasur    7.55 12/29/2008    USD      0.75
WGZ-Bank AG Westdeutsch    6.25 12/16/2016    EUR     58.68
WGZ-Bank AG Westdeutsch    4.25 12/16/2016    EUR     74.63
WGZ-Bank AG Westdeutsch    5.25 12/16/2016    EUR     71.19
Vontobel Financial Prod   15.00 12/23/2016    EUR     73.62
Vontobel Financial Prod   16.50 12/23/2016    EUR     71.38
Deutsche Bank AG           5.50 12/20/2016    EUR     57.00
Deutsche Bank AG           5.50 12/20/2016    EUR     54.00
Lehman Brothers Treasur    4.00 10/12/2010    USD      0.75
Deutsche Bank AG           7.50 12/20/2016    EUR     57.50
Deutsche Bank AG           7.50 12/20/2016    EUR     54.50
Deutsche Bank AG           7.50 12/20/2016    EUR     51.90
Lehman Brothers Treasur    8.00 10/23/2008    USD      0.75
Goldman Sachs & Co Wert    8.00 11/23/2016    EUR     50.59
Goldman Sachs & Co Wert    8.00 11/23/2016    EUR     46.58
Lehman Brothers Treasur   12.22 11/21/2017    USD      0.75
BNP Paribas Emissions-     7.00 12/22/2016    EUR     71.64
BNP Paribas Emissions-    10.00 12/22/2016    EUR     46.08
BNP Paribas Emissions-     8.00 12/22/2016    EUR     72.75
BNP Paribas Emissions-     9.00 12/22/2016    EUR     69.42
BNP Paribas Emissions-    13.00 12/22/2016    EUR     62.82
BNP Paribas Emissions-    22.00 12/22/2016    EUR     74.21
BNP Paribas Emissions-    13.00 12/22/2016    EUR     73.62
Lehman Brothers Treasur    2.50  11/9/2011    CHF      0.75
Vontobel Financial Prod    9.20 10/28/2016    EUR     68.88
Commerzbank AG             5.00 10/28/2016    EUR     56.62
Lehman Brothers Treasur    3.00  12/3/2012    EUR      0.75
Leonteq Securities AG     10.20  1/26/2017    CHF     59.37
Lehman Brothers Treasur    4.80 11/16/2012    HKD      0.75
Landesbank Baden-Wuertt    3.00 10/28/2016    EUR     63.29
Landesbank Baden-Wuertt    4.50 10/28/2016    EUR     57.55
Landesbank Baden-Wuertt    6.00 10/28/2016    EUR     53.91
Lehman Brothers Treasur    3.50 12/20/2027    USD      0.75
BNP Paribas Emissions-     8.50 12/22/2016    EUR     68.36
BNP Paribas Emissions-    10.00 12/22/2016    EUR     65.42
BNP Paribas Emissions-     8.00 12/22/2016    EUR     49.25
BNP Paribas Emissions-     7.00 12/22/2016    EUR     49.57
BNP Paribas Emissions-     7.00 12/22/2016    EUR     71.85
BNP Paribas Emissions-    11.00 12/22/2016    EUR     63.38
BNP Paribas Emissions-    14.00 12/22/2016    EUR     60.31
Lehman Brothers Treasur    5.50 11/30/2012    CZK      0.75
BNP Paribas Emissions-    24.00 12/22/2016    EUR     71.52
BNP Paribas Emissions-    13.00 12/22/2016    EUR     73.27
Lehman Brothers Treasur    6.00 10/30/2012    USD      0.75
Lehman Brothers Treasur   16.00  10/8/2008    CHF      0.75
Lehman Brothers Treasur    3.40  9/21/2009    HKD      0.75
Deutsche Bank AG           5.50 12/20/2016    EUR     71.50
Deutsche Bank AG           7.50 12/20/2016    EUR     72.00
Deutsche Bank AG           7.50 12/20/2016    EUR     67.60
Deutsche Bank AG           7.50 12/20/2016    EUR     73.80
Lehman Brothers Treasur   13.00  7/25/2012    EUR      0.75
Lehman Brothers Treasur   10.00   8/2/2037    JPY      0.75
Goldman Sachs & Co Wert   10.00 11/23/2016    EUR     71.64
Goldman Sachs & Co Wert    4.00 11/23/2016    EUR     71.44
Goldman Sachs & Co Wert    5.00 11/23/2016    EUR     63.79
Goldman Sachs & Co Wert    7.00 11/23/2016    EUR     57.82
Goldman Sachs & Co Wert    9.00 11/23/2016    EUR     52.98
Goldman Sachs & Co Wert    6.00  3/22/2017    EUR     59.61
Goldman Sachs & Co Wert    4.00  6/21/2017    EUR     72.05
Goldman Sachs & Co Wert   16.00  3/22/2017    EUR     46.97
Lehman Brothers Treasur    2.50  8/23/2012    GBP      0.75
Drangedal Sparebank        2.30               NOK     69.45
Bank Julius Baer & Co L    7.50  10/7/2016    EUR     37.35
Bank Julius Baer & Co L    6.00 10/19/2016    CHF     68.20
Credit Suisse AG/London    7.00 10/26/2016    CHF     74.82
DZ Bank AG Deutsche Zen    6.75 10/28/2016    EUR     70.66
DZ Bank AG Deutsche Zen   12.25 10/28/2016    EUR     65.21
Vontobel Financial Prod   13.50 12/23/2016    EUR     73.44
Bank Julius Baer & Co L    3.90 10/27/2016    CHF     54.35
Deutsche Bank AG           5.20  3/21/2017    EUR     71.80
Deutsche Bank AG           5.20  3/21/2017    EUR     68.40
Deutsche Bank AG           5.20  3/21/2017    EUR     54.20
Deutsche Bank AG           5.20  3/21/2017    EUR     52.00
Deutsche Bank AG           5.20  3/21/2017    EUR     50.00
Deutsche Bank AG           5.20  3/21/2017    EUR     48.10
Deutsche Bank AG           7.20 12/20/2016    EUR     64.60
Deutsche Bank AG           7.20  3/21/2017    EUR     72.80
Deutsche Bank AG           7.20  3/21/2017    EUR     69.40
Deutsche Bank AG           7.20  3/21/2017    EUR     51.00
Deutsche Bank AG           7.20  3/21/2017    EUR     49.10
UBS AG                     6.50 11/25/2016    EUR     44.98
UBS AG                     6.25 11/25/2016    EUR     60.38
UniCredit Bank AG          4.00 12/22/2016    EUR     70.08
Credit Suisse AG/Nassau    7.25 10/31/2016    CHF     69.64
Landesbank Baden-Wuertt    3.35 11/23/2018    EUR     60.20
Vontobel Financial Prod    8.50 10/28/2016    EUR     47.94
Lehman Brothers Treasur    7.50  9/13/2009    CHF      0.75
Lehman Brothers Treasur    6.00  2/14/2012    EUR      0.75
Lehman Brothers Treasur    7.00  2/15/2012    EUR      0.75
Lehman Brothers Treasur    6.00  5/12/2017    EUR      0.75
Lehman Brothers Treasur    4.10  2/19/2010    EUR      0.75
Lehman Brothers Treasur    6.60  2/22/2012    EUR      0.75
Lehman Brothers Treasur    5.20  3/19/2018    EUR      0.75
Lehman Brothers Treasur    5.00  2/28/2032    EUR      0.75
Lehman Brothers Treasur    3.50 10/31/2011    USD      0.75
Lehman Brothers Treasur    3.50 10/24/2011    USD      0.75
Lehman Brothers Treasur    1.68   3/5/2015    EUR      0.75
Lehman Brothers Treasur   13.50 11/28/2008    USD      0.75
Lehman Brothers Treasur    9.00  5/15/2022    USD      0.75
Lehman Brothers Treasur    6.75   4/5/2012    EUR      0.75
Raiffeisen Centrobank A    2.80 11/14/2016    EUR     45.26
EFG International Finan   12.86 10/30/2017    EUR     20.75
DekaBank Deutsche Giroz    4.00 12/12/2016    EUR     58.38
Credit Suisse AG/London    7.20   8/2/2019    USD      9.59
UniCredit Bank AG          5.40 12/22/2016    EUR     73.94
UniCredit Bank AG          5.20 12/22/2016    EUR     74.73
Vontobel Financial Prod   10.55  12/9/2016    EUR     49.88
Vontobel Financial Prod   12.25  3/10/2017    EUR     49.20
Vontobel Financial Prod    2.50  12/9/2016    EUR     71.22
Vontobel Financial Prod    3.35  12/9/2016    EUR     67.31
Vontobel Financial Prod    5.65  3/10/2017    EUR     59.21
Vontobel Financial Prod   11.75   6/9/2017    EUR     52.01
Vontobel Financial Prod    3.75 12/23/2016    EUR     57.45
Vontobel Financial Prod    6.00 12/23/2016    EUR     41.80
Vontobel Financial Prod    7.80  12/9/2016    EUR     73.08
Vontobel Financial Prod   10.95  12/9/2016    EUR     66.14
DZ Bank AG Deutsche Zen    5.00 10/28/2016    EUR     72.23
DZ Bank AG Deutsche Zen    9.70 10/26/2016    EUR     52.86
DZ Bank AG Deutsche Zen   11.50 10/26/2016    EUR     67.12
Deutsche Bank AG           5.50 12/20/2016    EUR     74.67
Deutsche Bank AG           5.50 12/20/2016    EUR     66.98
Deutsche Bank AG           7.50 12/20/2016    EUR     50.92
Vontobel Financial Prod   12.50 10/28/2016    EUR     74.08
Vontobel Financial Prod   14.50 10/28/2016    EUR     71.44
DZ Bank AG Deutsche Zen    5.50 12/19/2016    EUR     74.82
DZ Bank AG Deutsche Zen    5.00 12/19/2016    EUR     47.65
BNP Paribas Emissions-     6.50 10/27/2016    EUR     42.10
DZ Bank AG Deutsche Zen    9.00 12/19/2016    EUR     65.64
Zurcher Kantonalbank Fi   12.53 10/14/2016    CHF     73.53
Bank Julius Baer & Co L   16.00 10/14/2016    USD     73.15
Commerzbank AG            20.00  5/28/2018    SEK     57.84
HSBC Trinkaus & Burkhar    1.75  8/25/2017    EUR     64.29
Societe Generale SA        0.50  5/22/2024    MXN     57.57
Landesbank Hessen-Thuer    4.00  5/16/2018    EUR     47.17
Vontobel Financial Prod    8.30   6/9/2017    EUR     73.86
Vontobel Financial Prod   10.95  3/10/2017    EUR     73.85
Vontobel Financial Prod   14.95   6/9/2017    EUR     74.65
Lehman Brothers Treasur    7.06 12/29/2008    EUR      0.75
Lehman Brothers Treasur    7.63  7/22/2011    HKD      0.75
HSBC Trinkaus & Burkhar    5.00  4/28/2017    EUR     56.55
Lehman Brothers Treasur    6.60   2/9/2009    EUR      0.75
Lehman Brothers Treasur    6.72 12/29/2008    EUR      0.75
HSBC Trinkaus & Burkhar    5.00  5/26/2017    EUR     73.36
Oberoesterreichische La    0.32  11/6/2030    EUR     67.63
Lehman Brothers Treasur    8.05 12/20/2010    HKD      0.75
Lehman Brothers Treasur    2.00  6/21/2011    EUR      0.75
Lehman Brothers Treasur    0.50  2/16/2009    EUR      0.75
Lehman Brothers Treasur   10.00   1/4/2010    USD      0.75
Lehman Brothers Treasur    4.25  3/13/2021    EUR      0.75
Lehman Brothers Treasur    6.00  3/17/2011    EUR      0.75
Lehman Brothers Treasur    6.00  6/21/2011    EUR      0.75
Lehman Brothers Treasur    7.50   8/1/2035    EUR      0.75
Lehman Brothers Treasur    6.00  12/6/2016    USD      0.75
Lehman Brothers Treasur    4.70  3/23/2016    EUR      0.75
Lehman Brothers Treasur    8.00  4/20/2009    EUR      0.75
Lehman Brothers Treasur    4.15  8/25/2020    EUR      0.75
Lehman Brothers Treasur    6.50  5/16/2015    EUR      0.75
Lehman Brothers Treasur    5.00   9/1/2011    EUR      0.75
Lehman Brothers Treasur    7.00  7/11/2010    EUR      0.75
Lehman Brothers Treasur    6.00  7/28/2010    EUR      0.75
Lehman Brothers Treasur    6.00  7/28/2010    EUR      0.75
Lehman Brothers Treasur    4.90  7/28/2020    EUR      0.75
Lehman Brothers Treasur    3.50  9/29/2017    EUR      0.75
Lehman Brothers Treasur    3.00   8/8/2017    EUR      0.75
Lehman Brothers Treasur    3.00  8/15/2017    EUR      0.75
Bank Nederlandse Gemeen    0.50  8/15/2022    ZAR     59.88
Municipality Finance PL    0.50  7/30/2029    AUD     73.43
HSBC Trinkaus & Burkhar    4.00  6/16/2017    EUR     71.70
HSBC Trinkaus & Burkhar    4.00  6/16/2017    EUR     66.85
HSBC Bank PLC              0.50  12/8/2020    BRL     65.72
Notenstein La Roche Pri    4.50  5/22/2018    CHF     63.83
UniCredit Bank AG          4.50 12/22/2016    EUR     64.28
Zurcher Kantonalbank Fi    9.60 11/22/2016    EUR     71.83
Lehman Brothers Treasur    8.60  7/31/2013    GBP      0.75
UniCredit Bank AG          4.40 12/22/2016    EUR     73.53
UniCredit Bank AG          7.50 12/22/2016    EUR     72.73
UniCredit Bank AG          4.00 12/22/2016    EUR     52.69
Lehman Brothers Treasur    8.28  7/31/2013    GBP      0.75
UniCredit Bank AG          4.75 12/22/2016    EUR     42.43
UniCredit Bank AG          4.25 12/22/2016    EUR     52.22
UniCredit Bank AG          4.50 12/22/2016    EUR     43.93
Lehman Brothers Treasur    3.40  3/19/2018    JPY      0.75
Immigon Portfolioabbau     5.05   8/5/2030    EUR     61.63
Notenstein La Roche Pri    4.20  5/22/2019    CHF     65.30
UniCredit Bank AG          4.50 12/22/2016    EUR     51.77
UniCredit Bank AG          5.00 12/22/2016    EUR     41.03
UniCredit Bank AG          6.00 12/22/2016    EUR     61.05
UniCredit Bank AG          5.00 12/22/2016    EUR     63.16
UniCredit Bank AG          4.00 12/22/2016    EUR     47.29
WGZ-Bank AG Westdeutsch    4.00  11/7/2016    EUR     39.94
Lehman Brothers Treasur    4.70  3/23/2016    EUR      0.75
Goldman Sachs & Co Wert   22.00  5/24/2017    EUR     74.88
Kaupthing ehf              7.00  7/24/2009    ISK     17.63
Lehman Brothers Treasur    5.00  3/13/2009    EUR      0.75
Lehman Brothers Treasur    8.88  1/28/2011    HKD      9.63
Lehman Brothers Treasur    4.05  9/16/2008    EUR      0.75
LBI HF                     8.65   5/1/2011    ISK      7.75
LBI HF                     5.08   3/1/2013    ISK      7.75
Oberoesterreichische La    0.30  4/25/2042    EUR     48.88
BNP Paribas SA             0.50 11/16/2032    MXN     34.45
KPNQwest NV                8.88   2/1/2008    EUR      0.57
Lehman Brothers Treasur    5.22   3/1/2024    EUR      0.75
Deutsche Bank AG           6.80  3/21/2017    EUR     73.50
Deutsche Bank AG           6.80  6/20/2017    EUR     74.20
Lehman Brothers Treasur    3.82 10/20/2009    USD      0.75
Deutsche Bank AG           6.80 12/20/2016    EUR     72.50
National Developing Co    16.00  4/15/2021    RUB     60.11
Lehman Brothers Treasur    4.10  5/20/2009    USD      0.75
Lehman Brothers Treasur    2.00  5/17/2010    EUR      0.75
Vontobel Financial Prod   13.00  3/24/2017    EUR     74.50
Vontobel Financial Prod   14.00  3/24/2017    EUR     73.15
Deutsche Bank AG           4.80 12/20/2016    EUR     72.00
Deutsche Bank AG           4.80  6/20/2017    EUR     72.70
Lehman Brothers Treasur    4.00  2/28/2010    EUR      0.75
Lehman Brothers Treasur    2.30  6/27/2013    USD      0.75
Lehman Brothers Treasur    2.37  7/15/2013    USD      0.75
DZ Bank AG Deutsche Zen   10.00 12/23/2016    EUR     67.73
Lehman Brothers Treasur    1.95  11/4/2013    EUR      0.75
Deutsche Bank AG           6.80 12/20/2016    EUR     73.70
Deutsche Bank AG           4.80  3/21/2017    EUR     72.50
Lehman Brothers Treasur    2.30  4/28/2014    JPY      0.75
Kaupthing ehf              6.50  10/8/2010    ISK     17.63
DZ Bank AG Deutsche Zen    8.00 12/23/2016    EUR     70.20
Lehman Brothers Treasur    4.87  10/8/2013    USD      0.75
Deutsche Bank AG           4.80 12/20/2016    EUR     73.20
Deutsche Bank AG           4.80  3/21/2017    EUR     74.10
Deutsche Bank AG           6.80  6/20/2017    EUR     74.50
Deutsche Bank AG           4.80  6/20/2017    EUR     73.00
Deutsche Bank AG           4.80 12/20/2016    EUR     74.90
Deutsche Bank AG           4.80  6/20/2017    EUR     74.20
HSBC Trinkaus & Burkhar    3.75  9/22/2017    EUR     73.06
Lehman Brothers Treasur    8.25  12/3/2015    EUR     11.88
Lehman Brothers Treasur   12.00  7/13/2037    JPY      0.75
Lehman Brothers Treasur   10.00  6/11/2038    JPY      0.75
BNP Paribas Emissions-    24.00  3/23/2017    EUR     68.55
Lehman Brothers Treasur    0.75  3/29/2012    EUR      0.75
Immigon Portfolioabbau     0.70   3/1/2021    EUR     69.25
BNP Paribas Emissions-    17.00 12/22/2016    EUR     73.69
BNP Paribas Emissions-    12.00 12/21/2017    EUR     71.91
BNP Paribas Emissions-    18.00 12/22/2016    EUR     64.96
BNP Paribas Emissions-    15.00  6/22/2017    EUR     69.49
Lehman Brothers Treasur    5.00  12/6/2011    EUR      0.75
BNP Paribas Emissions-    20.00 12/22/2016    EUR     74.23
Goldman Sachs & Co Wert   24.00  3/22/2017    EUR     74.63
Goldman Sachs & Co Wert   22.00  5/24/2017    EUR     71.02
BNP Paribas Emissions-    19.00 12/22/2016    EUR     73.41
BNP Paribas Emissions-    21.00 12/22/2016    EUR     70.72
BNP Paribas Emissions-    25.00  3/23/2017    EUR     66.81
Lehman Brothers Treasur    3.63   3/2/2012    EUR      0.75
BNP Paribas Emissions-    13.00 12/22/2016    EUR     73.33
BNP Paribas Emissions-    10.00  3/23/2017    EUR     73.37
BNP Paribas Emissions-    10.00  6/22/2017    EUR     73.66
Commerzbank AG            20.00 10/27/2016    EUR     69.68
Commerzbank AG            18.00 12/22/2016    EUR     72.16
Goldman Sachs & Co Wert   21.00  6/21/2017    EUR     71.90
BNP Paribas Emissions-    17.00  3/23/2017    EUR     74.37
BNP Paribas Emissions-    16.00  6/22/2017    EUR     74.10
BNP Paribas Emissions-    19.00 12/21/2017    EUR     74.91
BNP Paribas Emissions-    15.00  3/23/2017    EUR     67.40
Lehman Brothers Treasur    2.75 10/28/2009    EUR      0.75
HSBC Trinkaus & Burkhar    4.50  4/24/2017    EUR     59.26
Goldman Sachs & Co Wert   20.00  5/24/2017    EUR     72.55
BNP Paribas Emissions-    25.00 12/22/2016    EUR     67.35
BNP Paribas Emissions-    27.00 12/22/2016    EUR     63.99
BNP Paribas Emissions-    18.00  3/23/2017    EUR     73.30
BNP Paribas Emissions-    10.00  9/21/2017    EUR     74.92
Lehman Brothers Treasur    4.50   3/7/2015    EUR      0.75
SpareBank 1 Noetteroey     8.25               NOK     49.98
Lehman Brothers Treasur    4.50 12/30/2010    USD      0.75
Eksportfinans ASA          0.25  7/14/2033    CAD     44.25
Vontobel Financial Prod    3.00 10/28/2016    EUR     66.93
Vontobel Financial Prod    4.00 10/28/2016    EUR     63.32
Vontobel Financial Prod    5.00 10/28/2016    EUR     60.09
Vontobel Financial Prod    6.00 10/28/2016    EUR     57.19
Vontobel Financial Prod    7.00 10/28/2016    EUR     54.57
Vontobel Financial Prod    8.50 10/28/2016    EUR     52.25
Vontobel Financial Prod   10.00 10/28/2016    EUR     50.13
Vontobel Financial Prod   14.50 10/28/2016    EUR     44.82
Vontobel Financial Prod   16.00 10/28/2016    EUR     43.34
Vontobel Financial Prod    3.00 12/23/2016    EUR     67.32
Vontobel Financial Prod    5.00 12/23/2016    EUR     60.85
Vontobel Financial Prod    7.00 12/23/2016    EUR     55.68
Vontobel Financial Prod    9.00 12/23/2016    EUR     51.47
Vontobel Financial Prod   11.50 12/23/2016    EUR     48.12
Vontobel Financial Prod   11.50 10/28/2016    EUR     48.20
Vontobel Financial Prod   13.00 10/28/2016    EUR     46.44
Goldman Sachs & Co Wert   12.00 12/21/2016    EUR     49.99
Bank Julius Baer & Co L    8.05  10/7/2016    CHF     57.60
Bank Nederlandse Gemeen    0.50  9/20/2022    ZAR     59.30
DZ Bank AG Deutsche Zen   11.50  6/23/2017    EUR     70.16
Vontobel Financial Prod   16.10   6/9/2017    EUR     73.70
Vontobel Financial Prod   16.25  3/10/2017    EUR     73.67
Vontobel Financial Prod   14.70  3/10/2017    EUR     74.83
Vontobel Financial Prod   18.20  12/9/2016    EUR     72.27
Vontobel Financial Prod   11.75  3/10/2017    EUR     73.93
Leonteq Securities AG     10.00 12/14/2016    EUR     70.18
Vontobel Financial Prod   15.30 12/23/2016    EUR     67.52
Goldman Sachs & Co Wert   23.00 10/26/2016    EUR     73.98
Vontobel Financial Prod    5.00 11/25/2016    EUR     54.79
Vontobel Financial Prod    3.50 11/25/2016    EUR     57.25
Vontobel Financial Prod    8.60 12/23/2016    EUR     73.80
Vontobel Financial Prod    9.05 11/25/2016    EUR     48.69
Vontobel Financial Prod   12.50 11/25/2016    EUR     45.59
Deutsche Bank AG           6.20 12/20/2016    EUR     70.80
Deutsche Bank AG           6.20 12/20/2016    EUR     64.10
Vontobel Financial Prod   11.00   6/9/2017    EUR     74.23
Societe Generale Effekt    5.27 12/23/2016    EUR     58.23
Vontobel Financial Prod   12.10 12/23/2016    EUR     71.60
Goldman Sachs & Co Wert   23.00 10/26/2016    EUR     64.64
Goldman Sachs & Co Wert   21.00 12/21/2016    EUR     71.01
Vontobel Financial Prod    7.50 11/25/2016    EUR     50.49
Deutsche Bank AG           6.20 12/20/2016    EUR     66.20
Deutsche Bank AG           6.20 12/20/2016    EUR     68.30
HSBC Trinkaus & Burkhar    3.75  8/25/2017    EUR     72.02
UBS AG                     7.85  12/1/2016    EUR     49.30
DZ Bank AG Deutsche Zen    6.20 12/19/2016    EUR     54.41
Vontobel Financial Prod    7.45  12/9/2016    EUR     68.01
HSBC Trinkaus & Burkhar   10.60 12/23/2016    EUR     72.93
HSBC Trinkaus & Burkhar   12.50 12/23/2016    EUR     66.78
HSBC Trinkaus & Burkhar   11.10  3/24/2017    EUR     69.13
HSBC Trinkaus & Burkhar    9.40  1/27/2017    EUR     71.35
HSBC Trinkaus & Burkhar    6.50 12/23/2016    EUR     54.13
Landesbank Baden-Wuertt    3.00 11/23/2018    EUR     67.59
Landesbank Baden-Wuertt    3.00 11/24/2017    EUR     66.72
Landesbank Baden-Wuertt    4.00 11/24/2017    EUR     57.40
DZ Bank AG Deutsche Zen    6.25 12/23/2016    EUR     72.41
HSBC Trinkaus & Burkhar    6.00  1/27/2017    EUR     71.88
HSBC Trinkaus & Burkhar   14.40 12/23/2016    EUR     64.58
Vontobel Financial Prod    9.00   6/9/2017    EUR     69.08
DZ Bank AG Deutsche Zen    9.25  7/28/2017    EUR     72.15
Leonteq Securities AG      9.00 12/14/2016    CHF     71.89
Vontobel Financial Prod   13.70 12/23/2016    EUR     69.47
Credit Suisse AG/Nassau    7.25  6/14/2017    CHF     61.67
Vontobel Financial Prod    6.00 11/25/2016    EUR     52.49
Vontobel Financial Prod   10.50 11/25/2016    EUR     47.03
DZ Bank AG Deutsche Zen    5.90 12/21/2016    EUR     52.33
UBS AG/London             13.80  12/9/2016    EUR     74.39
UBS AG/London              9.30  3/10/2017    EUR     64.16
Svensk Exportkredit AB     0.50  6/29/2029    AUD     64.78
Commerzbank AG             9.25  1/26/2017    EUR     74.75
Commerzbank AG            10.00  1/26/2017    EUR     73.20
Commerzbank AG            10.75  1/26/2017    EUR     71.69
Commerzbank AG            11.75  1/26/2017    EUR     70.33
Eiendomskreditt            5.33               NOK     69.50
Lloyds Bank PLC            0.50  7/26/2028    MXN     46.42
National Capital JSC       9.50  7/25/2018    RUB     60.03
HSBC Bank PLC              0.50   6/9/2023    MXN     62.05
Lehman Brothers Treasur    6.00 12/30/2017    EUR      0.75
Lehman Brothers Treasur    4.10  6/10/2014    SGD      9.63
Goldman Sachs & Co Wert   21.00 10/26/2016    EUR     40.79
Goldman Sachs & Co Wert    5.00 11/23/2016    EUR     67.48
Goldman Sachs & Co Wert    6.00 11/23/2016    EUR     60.64
Goldman Sachs & Co Wert   15.00 11/23/2016    EUR     46.00
Goldman Sachs & Co Wert    6.00  3/22/2017    EUR     62.52
Goldman Sachs & Co Wert    4.00  6/21/2017    EUR     68.57
UBS AG/London             13.50  10/7/2016    CHF     32.29
Notenstein La Roche Pri    7.20  4/19/2017    CHF     74.93
Leonteq Securities AG     12.20 10/19/2016    CHF     71.24
Leonteq Securities AG     11.80 10/19/2016    CHF     73.28
Lehman Brothers Treasur    3.00  8/13/2011    EUR      0.75
Lehman Brothers Treasur    5.00  4/24/2017    EUR      0.75
Lehman Brothers Treasur    7.39   5/4/2017    USD      0.75
Lehman Brothers Treasur    4.25  5/15/2010    EUR      0.75
Lehman Brothers Treasur    3.35 10/13/2016    EUR      0.75
Lehman Brothers Treasur    0.80 12/30/2016    EUR      0.75
Lehman Brothers Treasur   10.00   1/3/2012    BRL      0.75
Lehman Brothers Treasur    6.00  5/23/2018    CZK      0.75
Lehman Brothers Treasur    4.00  5/30/2010    USD      0.75
Lehman Brothers Treasur    4.00  5/17/2010    USD      0.75
Lehman Brothers Treasur    2.48  5/12/2009    USD      0.75
Lehman Brothers Treasur    2.25  5/12/2009    USD      0.75
Bulgaria Steel Finance    12.00   5/4/2013    EUR      1.09
Lehman Brothers Treasur    7.50  6/15/2017    USD      0.75
Kaupthing ehf              5.00   1/4/2027    SKK     17.63
Vontobel Financial Prod    9.85 12/23/2016    EUR     66.93
Landesbank Baden-Wuertt    5.50 11/24/2017    EUR     70.87
Landesbank Baden-Wuertt    3.00 11/24/2017    EUR     59.87
Landesbank Baden-Wuertt    5.00 11/24/2017    EUR     55.50
DZ Bank AG Deutsche Zen    7.00 12/23/2016    EUR     70.10
DZ Bank AG Deutsche Zen    5.25 12/23/2016    EUR     74.24
DZ Bank AG Deutsche Zen    7.00 12/23/2016    EUR     74.52
HSBC Trinkaus & Burkhar    8.10 12/23/2016    EUR     73.48
HSBC Trinkaus & Burkhar   12.60  3/24/2017    EUR     67.26
Vontobel Financial Prod    5.15 12/23/2016    EUR     48.49
Landesbank Hessen-Thuer    3.50   6/6/2018    EUR     70.18
Eiendomskreditt            4.38               NOK     57.47
Bank ZENIT PJSC            8.50  6/14/2024    RUB     60.10
Bank Julius Baer & Co L    5.40  5/31/2017    CHF     73.90
HSBC Trinkaus & Burkhar    3.00   5/8/2017    EUR     72.87
Lloyds Bank PLC            0.50  7/26/2021    BRL     61.27
T-Generation CJSC         12.00  6/14/2019    RUB     60.11
Landesbank Baden-Wuertt    3.50  2/24/2017    EUR     72.50
Landesbank Baden-Wuertt    4.50  2/24/2017    EUR     70.00
Landesbank Baden-Wuertt    5.50  2/24/2017    EUR     67.68
Landesbank Baden-Wuertt    2.50  2/24/2017    EUR     55.03
Landesbank Baden-Wuertt    3.50  2/24/2017    EUR     52.09
Landesbank Baden-Wuertt    4.50  2/24/2017    EUR     49.74
Landesbank Baden-Wuertt    5.50  2/24/2017    EUR     48.11
Landesbank Baden-Wuertt    2.50  2/24/2017    EUR     72.20
Landesbank Baden-Wuertt    4.00  2/24/2017    EUR     66.21
Landesbank Baden-Wuertt    5.50  2/24/2017    EUR     61.81
Leonteq Securities AG      9.00 12/14/2016    CHF     74.60
UBS AG/London              9.50   9/4/2017    CHF     32.66
UBS AG                     6.30  12/9/2016    EUR     50.66
HSBC Trinkaus & Burkhar   11.30 12/23/2016    EUR     69.37
HSBC Trinkaus & Burkhar    9.10 12/23/2016    EUR     65.28
UBS AG                     3.30  12/9/2016    EUR     57.40
HSBC Trinkaus & Burkhar    6.30  3/24/2017    EUR     70.82
HSBC Trinkaus & Burkhar   10.40 12/23/2016    EUR     38.04
HSBC Trinkaus & Burkhar    6.50  3/24/2017    EUR     65.04
Vontobel Financial Prod    4.25  12/9/2016    EUR     52.40
Vontobel Financial Prod    4.65  12/9/2016    EUR     70.75
Bank Julius Baer & Co L    5.60  7/24/2017    EUR     71.00
Credit Suisse AG/London    4.00  1/31/2017    CHF     74.16
Landesbank Baden-Wuertt    3.00  9/27/2019    EUR     60.48
DZ Bank AG Deutsche Zen    8.25 12/19/2016    EUR     57.37
Vontobel Financial Prod   12.00 12/23/2016    EUR     62.92
Vontobel Financial Prod    7.00 12/23/2016    EUR     48.93
Leonteq Securities AG     10.00 12/22/2016    CHF     29.26
Vontobel Financial Prod    5.00 12/16/2016    EUR     65.36
BNP Paribas Emissions-     6.00 12/22/2016    EUR     64.50
BNP Paribas Emissions-     4.00  6/22/2017    EUR     67.18
BNP Paribas Emissions-     5.00  6/22/2017    EUR     67.91
BNP Paribas Emissions-     5.00 12/22/2016    EUR     44.92
Goldman Sachs & Co Wert    9.00  9/20/2017    EUR     52.24
Soyuz AKB OAO             13.00 11/22/2019    RUB     60.06
HSBC Trinkaus & Burkhar   10.30 12/23/2016    EUR     71.27
HSBC Trinkaus & Burkhar    8.00 12/23/2016    EUR     67.28
UBS AG                     5.80  12/9/2016    EUR     71.23
HSBC Trinkaus & Burkhar    7.10  3/24/2017    EUR     57.88
HSBC Trinkaus & Burkhar    8.20 12/23/2016    EUR     39.87
HSBC Trinkaus & Burkhar    6.70  3/24/2017    EUR     42.47
HSBC Trinkaus & Burkhar    9.60 12/23/2016    EUR     59.47
HSBC Trinkaus & Burkhar    6.70  3/24/2017    EUR     62.66
Vontobel Financial Prod    5.25  12/9/2016    EUR     73.96
Leonteq Securities AG      3.00   8/7/2018    CHF     74.34
DekaBank Deutsche Giroz    2.50  7/14/2017    EUR     69.86
Landesbank Baden-Wuertt    2.60  2/24/2017    EUR     45.68
UBS AG/London              6.25  7/24/2017    CHF     68.59
Landesbank Baden-Wuertt    2.60  8/23/2019    EUR     51.70
DekaBank Deutsche Giroz    2.75  6/28/2019    EUR     64.05
Bayerische Landesbank      3.70  10/7/2016    EUR     46.28
Vontobel Financial Prod    6.80  1/27/2017    EUR     69.27
DZ Bank AG Deutsche Zen    5.25 12/23/2016    EUR     60.70
National Developing Co    15.00  7/19/2018    RUB     60.30
Landesbank Baden-Wuertt    4.10  3/24/2017    EUR     53.58
Vontobel Financial Prod    8.50 12/23/2016    EUR     68.39
Vontobel Financial Prod   10.50 12/23/2016    EUR     44.52
BNP Paribas Emissions-     5.00 12/22/2016    EUR     64.27
BNP Paribas Emissions-     6.00  6/22/2017    EUR     68.37
Goldman Sachs & Co Wert    8.00 10/26/2016    EUR     44.22
Notenstein La Roche Pri    3.10  8/14/2019    CHF     74.44
Vontobel Financial Prod   24.00 12/23/2016    EUR     69.18
Bayerische Landesbank      2.50  8/31/2018    EUR     66.40
Vontobel Financial Prod   14.45 12/23/2016    EUR     59.13
Vontobel Financial Prod   15.15 12/23/2016    EUR     68.83
Vontobel Financial Prod    6.50 12/23/2016    EUR     47.16
HSBC Trinkaus & Burkhar    6.90 12/23/2016    EUR     56.52
Vontobel Financial Prod    3.10   1/2/2017    EUR     54.91
WGZ-Bank AG Westdeutsch    6.50  9/29/2016    EUR     71.14
Vontobel Financial Prod   10.00 12/23/2016    EUR     56.90
DZ Bank AG Deutsche Zen    5.60 12/19/2016    EUR     57.57
DZ Bank AG Deutsche Zen    6.50 12/19/2016    EUR     54.19
DZ Bank AG Deutsche Zen    5.70 12/19/2016    EUR     73.48
Zurcher Kantonalbank Fi    7.50  2/27/2017    EUR     71.65
Vontobel Financial Prod   15.00 12/23/2016    EUR     74.55
Vontobel Financial Prod   10.50 12/23/2016    EUR     67.89
Bayerische Landesbank      2.70   8/3/2018    EUR     69.25
Landesbank Baden-Wuertt    2.50 12/23/2016    EUR     51.67
Landesbank Baden-Wuertt    4.00 12/23/2016    EUR     74.21
WGZ-Bank AG Westdeutsch    3.25  9/27/2016    EUR     56.97
Vontobel Financial Prod    2.05 12/12/2016    EUR     68.39
UBS AG/London              8.50   1/3/2017    CHF     59.13
Leonteq Securities AG      5.00   9/4/2018    CHF     55.04
Leonteq Securities AG     10.00  12/8/2016    CHF     74.84
Vontobel Financial Prod    8.50 12/23/2016    EUR     71.01
Deutsche Bank AG           3.20 11/23/2016    EUR     60.40
Deutsche Bank AG           3.20 10/26/2016    EUR     44.00
Deutsche Bank AG           3.20 11/23/2016    EUR     47.90
Deutsche Bank AG           3.20 12/20/2016    EUR     48.20
Deutsche Bank AG           3.20 11/23/2016    EUR     44.30
Deutsche Bank AG           3.20 11/23/2016    EUR     46.00
Deutsche Bank AG           3.20 12/20/2016    EUR     63.60
Deutsche Bank AG           3.20 11/23/2016    EUR     63.40
Vontobel Financial Prod   10.50 12/23/2016    EUR     67.27
Deutsche Bank AG           3.20 11/23/2016    EUR     73.70
Deutsche Bank AG           3.20 12/20/2016    EUR     73.80
Deutsche Bank AG           3.20 10/26/2016    EUR     59.50
Deutsche Bank AG           3.20 10/26/2016    EUR     62.60
Deutsche Bank AG           3.20 11/23/2016    EUR     59.70
Deutsche Bank AG           4.20 10/26/2016    EUR     73.70
Deutsche Bank AG           4.20 10/26/2016    EUR     45.90
Deutsche Bank AG           4.20 10/26/2016    EUR     57.50
Deutsche Bank AG           4.20 10/26/2016    EUR     60.20
Deutsche Bank AG           4.20 11/23/2016    EUR     60.50
Deutsche Bank AG           4.20 11/23/2016    EUR     44.40
Deutsche Bank AG           4.20 11/23/2016    EUR     57.80
Deutsche Bank AG           8.20 10/26/2016    EUR     54.60
Deutsche Bank AG           8.20 10/26/2016    EUR     68.40
Deutsche Bank AG           8.20 12/20/2016    EUR     72.20
Goldman Sachs & Co Wert   13.00 12/21/2016    EUR     55.64
Deutsche Bank AG           8.20 11/23/2016    EUR     42.00
Deutsche Bank AG           8.20 12/20/2016    EUR     55.80
Deutsche Bank AG           8.20 10/26/2016    EUR     53.10
Deutsche Bank AG           8.20 12/20/2016    EUR     59.10
Deutsche Bank AG           4.20 10/26/2016    EUR     62.70
Deutsche Bank AG           8.20 11/23/2016    EUR     69.00
Deutsche Bank AG           8.20 12/20/2016    EUR     42.60
Deutsche Bank AG           8.20 12/20/2016    EUR     69.60
Deutsche Bank AG           4.20 12/20/2016    EUR     60.20
Deutsche Bank AG           8.20 11/23/2016    EUR     69.00
Notenstein La Roche Pri    7.20   9/4/2017    CHF     74.74
Vontobel Financial Prod    7.50 12/23/2016    EUR     73.42
UniCredit Bank AG          4.75 12/22/2016    EUR     51.32
DekaBank Deutsche Giroz    3.00  5/13/2019    EUR     74.48
Bayerische Landesbank      2.70  6/22/2018    EUR     65.75
Notenstein La Roche Pri    3.30   6/5/2019    CHF     74.82
BNP Paribas Emissions-     4.00 12/22/2016    EUR     51.27
BNP Paribas Emissions-     5.00 12/22/2016    EUR     64.41
BNP Paribas Emissions-    10.00 12/22/2016    EUR     55.05
BNP Paribas Emissions-    10.00 12/22/2016    EUR     67.32
BNP Paribas Emissions-    10.00 12/22/2016    EUR     67.91
BNP Paribas Emissions-    10.00 12/22/2016    EUR     37.97
HSBC Trinkaus & Burkhar    6.70 12/23/2016    EUR     74.94
BNP Paribas Emissions-     9.00 12/22/2016    EUR     52.81
Notenstein La Roche Pri    6.00 11/29/2016    EUR     54.50
Notenstein La Roche Pri    4.00  5/29/2017    CHF     69.35
UniCredit Bank AG          4.00 12/22/2016    EUR     67.88
UniCredit Bank AG          4.00 12/22/2016    EUR     70.43
Credit Suisse AG/Nassau    7.25  12/5/2016    CHF     68.84
Notenstein La Roche Pri    3.90  8/21/2018    CHF     74.88
DekaBank Deutsche Giroz    2.60  6/23/2017    EUR     60.53
Credit Suisse AG/Nassau    7.55 11/28/2016    CHF     39.36
Goldman Sachs & Co Wert    9.00 12/21/2016    EUR     63.83
Goldman Sachs & Co Wert    8.00  3/22/2017    EUR     72.72
UBS AG                     7.40  5/17/2021    CHF     66.70
Leonteq Securities AG      9.92  5/29/2017    EUR     57.68
Notenstein La Roche Pri    4.30   6/5/2019    CHF     67.61
Notenstein La Roche Pri    6.70  12/5/2016    CHF     57.20
Leonteq Securities AG     13.00 11/14/2016    CHF     74.03
Vontobel Financial Prod    4.00  12/9/2016    EUR     60.85
Vontobel Financial Prod    6.45  12/9/2016    EUR     73.38
Vontobel Financial Prod    7.05  12/9/2016    EUR     71.90
UBS AG                     4.50 11/11/2016    EUR     74.02
Vontobel Financial Prod    4.85  12/9/2016    EUR     44.58
Vontobel Financial Prod    7.65  12/9/2016    EUR     40.62
UBS AG                     4.50 11/11/2016    EUR     63.63
Notenstein La Roche Pri    6.30  8/28/2017    CHF     73.24
DZ Bank AG Deutsche Zen    6.50 12/19/2016    EUR     49.82
DZ Bank AG Deutsche Zen    7.50 12/19/2016    EUR     64.26
DZ Bank AG Deutsche Zen    9.50 12/23/2016    EUR     55.85
DZ Bank AG Deutsche Zen    3.60  9/15/2017    EUR     53.92
UniCredit Bank AG          4.25 12/22/2016    EUR     50.40
UniCredit Bank AG          4.00 12/22/2016    EUR     51.44
UniCredit Bank AG          5.00 12/22/2016    EUR     47.54
UniCredit Bank AG          4.50 12/22/2016    EUR     49.41
UniCredit Bank AG          4.75 12/22/2016    EUR     48.46
UniCredit Bank AG          4.00 12/22/2016    EUR     72.78
Leonteq Securities AG      5.60  9/11/2017    CHF     55.14
Societe Generale Effekt    6.16 12/23/2016    EUR     55.45
HSBC Trinkaus & Burkhar   11.80 12/23/2016    EUR     60.19
HSBC Trinkaus & Burkhar    7.20 12/23/2016    EUR     68.11
HSBC Trinkaus & Burkhar    7.80  3/24/2017    EUR     66.68
HSBC Trinkaus & Burkhar    7.00 12/23/2016    EUR     49.03
HSBC Trinkaus & Burkhar    8.70 10/28/2016    EUR     46.25
HSBC Trinkaus & Burkhar    6.20 10/28/2016    EUR     49.98
HSBC Trinkaus & Burkhar   10.40 12/23/2016    EUR     68.73
HSBC Trinkaus & Burkhar    8.30 12/23/2016    EUR     72.10
EFG International Finan    6.21  7/22/2019    EUR     59.83
Vontobel Financial Prod    5.40   6/9/2017    EUR     74.69
Goldman Sachs & Co Wert    7.00  3/22/2017    EUR     73.06
Goldman Sachs & Co Wert   11.00  6/21/2017    EUR     64.17
Goldman Sachs & Co Wert   10.00  6/21/2017    EUR     67.16
DZ Bank AG Deutsche Zen    5.50 12/19/2016    EUR     51.30
DZ Bank AG Deutsche Zen    7.20 12/19/2016    EUR     48.50
DZ Bank AG Deutsche Zen    8.20 12/19/2016    EUR     62.45
UniCredit Bank AG          4.00 12/22/2016    EUR     55.48
UniCredit Bank AG          6.00 12/22/2016    EUR     67.29
UniCredit Bank AG          5.00 12/22/2016    EUR     53.47
UniCredit Bank AG          4.75 12/22/2016    EUR     53.96
UniCredit Bank AG          5.00 12/22/2016    EUR     69.91
DZ Bank AG Deutsche Zen    6.00 12/19/2016    EUR     72.70
DZ Bank AG Deutsche Zen    8.25 12/19/2016    EUR     74.89
DZ Bank AG Deutsche Zen    7.50 12/19/2016    EUR     45.95
Bayerische Landesbank      3.00  10/5/2018    EUR     56.13
Deutsche Bank AG           7.50 12/20/2016    EUR     66.65
Deutsche Bank AG           5.50 12/20/2016    EUR     38.89
Deutsche Bank AG           7.50 12/20/2016    EUR     60.78
HSBC Trinkaus & Burkhar   10.20 12/23/2016    EUR     62.53
HSBC Trinkaus & Burkhar    9.10 10/28/2016    EUR     63.89
HSBC Trinkaus & Burkhar    7.50  3/24/2017    EUR     49.13
HSBC Trinkaus & Burkhar   11.10 12/23/2016    EUR     73.42
DekaBank Deutsche Giroz    2.70  7/15/2019    EUR     74.35
Goldman Sachs & Co Wert    7.00 12/21/2016    EUR     71.62
Goldman Sachs & Co Wert   10.00  3/22/2017    EUR     65.91
Goldman Sachs & Co Wert   12.00  3/22/2017    EUR     63.07
Vontobel Financial Prod   10.00 12/23/2016    EUR     60.42
Vontobel Financial Prod    8.10 12/23/2016    EUR     62.94
Goldman Sachs & Co Wert    5.00 12/21/2016    EUR     48.44
Goldman Sachs & Co Wert    6.00 12/21/2016    EUR     46.79
Goldman Sachs & Co Wert   10.00 12/21/2016    EUR     41.48
Goldman Sachs & Co Wert    8.00 12/21/2016    EUR     65.58
Goldman Sachs & Co Wert   10.00 12/21/2016    EUR     61.62
Goldman Sachs & Co Wert   14.00 12/21/2016    EUR     72.29
Goldman Sachs & Co Wert    9.00 12/21/2016    EUR     73.16
Goldman Sachs & Co Wert   17.00 12/21/2016    EUR     59.60
Goldman Sachs & Co Wert    7.00  3/22/2017    EUR     72.20
Goldman Sachs & Co Wert   10.00  3/22/2017    EUR     61.86
Vontobel Financial Prod   17.30 12/23/2016    EUR     70.78
Vontobel Financial Prod   15.60 12/23/2016    EUR     47.78
Landesbank Baden-Wuertt    2.80  6/22/2018    EUR     73.53
Leonteq Securities AG      3.00   7/8/2019    CHF     71.82
DekaBank Deutsche Giroz    2.65   8/4/2017    EUR     73.04
UniCredit Bank AG          4.40  7/13/2018    EUR     47.45
DZ Bank AG Deutsche Zen    5.75 12/23/2016    EUR     69.57
BNP Paribas Emissions-     3.00 12/22/2016    EUR     53.68
BNP Paribas Emissions-     6.00 12/22/2016    EUR     72.72
BNP Paribas Emissions-     9.50 12/22/2016    EUR     63.91
BNP Paribas Emissions-     7.50 12/22/2016    EUR     56.29
BNP Paribas Emissions-    10.00 12/22/2016    EUR     74.69
BNP Paribas Emissions-    12.00 12/22/2016    EUR     71.73
BNP Paribas Emissions-    12.00 12/22/2016    EUR     33.36
Deutsche Bank AG           5.20 12/20/2016    EUR     64.10
Deutsche Bank AG           6.20 12/20/2016    EUR     64.30
Deutsche Bank AG           4.20 12/20/2016    EUR     43.10
BNP Paribas Emissions-     5.50 12/22/2016    EUR     62.41
Deutsche Bank AG           5.20 12/20/2016    EUR     70.90
Deutsche Bank AG           6.20 12/20/2016    EUR     71.20
Deutsche Bank AG           6.20 12/20/2016    EUR     67.30
BNP Paribas Emissions-     6.00 12/22/2016    EUR     68.80
BNP Paribas Emissions-     9.00 12/22/2016    EUR     62.02
Deutsche Bank AG           5.20  3/21/2017    EUR     72.70
BNP Paribas Emissions-     5.00 12/22/2016    EUR     64.27
BNP Paribas Emissions-     7.00 12/22/2016    EUR     59.03
BNP Paribas Emissions-     9.00 12/22/2016    EUR     54.72
Deutsche Bank AG           5.20  3/21/2017    EUR     59.60
Deutsche Bank AG           5.20  3/21/2017    EUR     44.70
Deutsche Bank AG           7.20  3/21/2017    EUR     44.20
BNP Paribas Emissions-     4.00 12/22/2016    EUR     48.33
Deutsche Bank AG           5.20  3/21/2017    EUR     40.50
BNP Paribas Emissions-     6.50 12/22/2016    EUR     43.65
Deutsche Bank AG           7.20  3/21/2017    EUR     70.90
Deutsche Bank AG           7.20  3/21/2017    EUR     73.60
BNP Paribas Emissions-     7.00 12/22/2016    EUR     68.91
BNP Paribas Emissions-    12.00 12/22/2016    EUR     72.96
BNP Paribas Emissions-     6.00 12/22/2016    EUR     67.83
Deutsche Bank AG           5.20  3/21/2017    EUR     72.10
Deutsche Bank AG           7.20  3/21/2017    EUR     69.30
Deutsche Bank AG           5.20 10/26/2016    EUR     70.70
Deutsche Bank AG           5.20 11/23/2016    EUR     71.10
Deutsche Bank AG           7.20 10/26/2016    EUR     57.80
Deutsche Bank AG           7.20 11/23/2016    EUR     64.00
Deutsche Bank AG           7.20 10/26/2016    EUR     42.80
Deutsche Bank AG           5.20 10/26/2016    EUR     41.10
Deutsche Bank AG           7.20 11/23/2016    EUR     43.30
Deutsche Bank AG           7.20 11/23/2016    EUR     41.80
Deutsche Bank AG           7.20 11/23/2016    EUR     40.40
Deutsche Bank AG           7.20 11/23/2016    EUR     39.10
Raiffeisen Centrobank A    9.07  3/22/2017    EUR     67.12
Raiffeisen Centrobank A    6.24  3/22/2017    EUR     69.81
Vontobel Financial Prod    8.35 12/23/2016    EUR     66.95
Landesbank Baden-Wuertt    3.75 12/23/2016    EUR     60.24
Leonteq Securities AG     10.00 11/21/2016    CHF     61.74
Vontobel Financial Prod    4.85 12/23/2016    EUR     48.94
Vontobel Financial Prod    8.35 12/23/2016    EUR     45.62
UBS AG/London              9.40  6/30/2017    EUR     38.34
HSBC Trinkaus & Burkhar    7.00 12/23/2016    EUR     43.78
HSBC Trinkaus & Burkhar    6.40 12/23/2016    EUR     70.49
HSBC Trinkaus & Burkhar    6.50 12/23/2016    EUR     58.34
DZ Bank AG Deutsche Zen    8.25 12/23/2016    EUR     61.43
WGZ-Bank AG Westdeutsch    5.00  9/29/2016    EUR     74.66
Vontobel Financial Prod    7.65 12/23/2016    EUR     60.37
Credit Suisse AG/Nassau    7.50  1/10/2017    CHF     73.08
DZ Bank AG Deutsche Zen    6.70 12/19/2016    EUR     74.30
DZ Bank AG Deutsche Zen    5.10 12/19/2016    EUR     73.49
Vontobel Financial Prod    8.00 12/23/2016    EUR     72.96
Zurcher Kantonalbank Fi    9.00  7/17/2017    EUR     66.98
DZ Bank AG Deutsche Zen    6.25 12/23/2016    EUR     49.83
Landesbank Baden-Wuertt    4.00 12/23/2016    EUR     62.65
Landesbank Baden-Wuertt    2.50 12/23/2016    EUR     73.36
Landesbank Baden-Wuertt    3.50 12/23/2016    EUR     69.62
Landesbank Baden-Wuertt    3.00 12/23/2016    EUR     65.71
Landesbank Baden-Wuertt    3.50 12/23/2016    EUR     64.93
WGZ-Bank AG Westdeutsch    2.50  9/27/2016    EUR     59.63
UBS AG/London              7.50   7/3/2017    EUR     56.88
WGZ-Bank AG Westdeutsch    4.00 12/19/2016    EUR     70.23
Banque Cantonale Vaudoi    7.25   7/3/2017    CHF     54.98
Leonteq Securities AG     10.00  12/8/2016    EUR     74.71
Deutsche Bank AG           3.20 12/20/2016    EUR     60.60
Deutsche Bank AG           3.20 12/20/2016    EUR     44.50
Deutsche Bank AG           3.20 12/20/2016    EUR     57.90
Deutsche Bank AG           3.20 12/20/2016    EUR     46.30
Deutsche Bank AG           3.20 10/26/2016    EUR     45.80
Deutsche Bank AG           3.20 10/26/2016    EUR     47.70
Vontobel Financial Prod   10.15 12/23/2016    EUR     67.86
Deutsche Bank AG           3.20 11/23/2016    EUR     62.90
Deutsche Bank AG           3.20 10/26/2016    EUR     66.10
Deutsche Bank AG           4.20 12/20/2016    EUR     74.10
Deutsche Bank AG           4.20 12/20/2016    EUR     60.90
Deutsche Bank AG           4.20 11/23/2016    EUR     46.20
Deutsche Bank AG           4.20 12/20/2016    EUR     44.80
Deutsche Bank AG           4.20 12/20/2016    EUR     46.50
Deutsche Bank AG           4.20 12/20/2016    EUR     68.50
Goldman Sachs & Co Wert   16.00 12/21/2016    EUR     64.69
Deutsche Bank AG           8.20 12/20/2016    EUR     54.30
Deutsche Bank AG           8.20 10/26/2016    EUR     65.80
Deutsche Bank AG           8.20 10/26/2016    EUR     41.40
Goldman Sachs & Co Wert   16.00 12/21/2016    EUR     67.75
Deutsche Bank AG           8.20 10/26/2016    EUR     68.40
Deutsche Bank AG           4.20 12/20/2016    EUR     63.30
Deutsche Bank AG           4.20 10/26/2016    EUR     59.60
Deutsche Bank AG           8.20 12/20/2016    EUR     61.40
Deutsche Bank AG           8.20 11/23/2016    EUR     55.20
UBS AG                     5.50 10/14/2016    EUR     73.34
WGZ-Bank AG Westdeutsch    6.00  9/30/2016    EUR     74.46
UniCredit Bank AG          6.00 12/22/2016    EUR     74.72
DekaBank Deutsche Giroz    3.10  5/11/2018    EUR     74.81
DekaBank Deutsche Giroz    2.80  5/13/2019    EUR     58.84
Vontobel Financial Prod    5.00  9/30/2016    EUR     56.39
UniCredit Bank AG          4.30 12/22/2016    EUR     73.97
BNP Paribas Emissions-    12.00 12/22/2016    EUR     69.00
BNP Paribas Emissions-     7.00 12/22/2016    EUR     72.25
BNP Paribas Emissions-     6.00 12/22/2016    EUR     44.15
HSBC Trinkaus & Burkhar    8.10 12/23/2016    EUR     41.15
BNP Paribas Emissions-    10.00 12/22/2016    EUR     61.93
HSBC Trinkaus & Burkhar    8.80 12/23/2016    EUR     68.68
BNP Paribas Emissions-     9.00 12/22/2016    EUR     40.03
Zurcher Kantonalbank Fi    3.80  5/22/2017    EUR     56.42
UniCredit Bank AG          4.00 12/22/2016    EUR     61.11
UniCredit Bank AG          4.00 12/22/2016    EUR     66.10
UniCredit Bank AG          4.00 12/22/2016    EUR     54.16
UniCredit Bank AG          4.00 12/22/2016    EUR     63.33
DekaBank Deutsche Giroz    4.10  6/20/2017    EUR     62.86
DekaBank Deutsche Giroz    5.60 11/21/2016    EUR     72.63
Goldman Sachs & Co Wert   17.00 12/21/2016    EUR     72.55
Goldman Sachs & Co Wert   15.00 12/21/2016    EUR     62.97
Goldman Sachs & Co Wert    9.00  6/21/2017    EUR     66.92
Goldman Sachs & Co Wert   13.00  6/21/2017    EUR     61.44
Credit Suisse AG/Nassau    7.50  12/5/2016    CHF     55.10
Landesbank Baden-Wuertt    2.80 12/23/2016    EUR     51.74
Notenstein La Roche Pri    4.10  8/14/2018    CHF     70.07
Bayerische Landesbank      2.90  6/22/2018    EUR     51.60
Notenstein La Roche Pri    4.10   6/5/2019    CHF     68.94
BNP Paribas Emissions-     6.50 12/22/2016    EUR     62.34
BNP Paribas Emissions-    12.00 12/22/2016    EUR     72.93
HSBC Trinkaus & Burkhar    7.10 12/23/2016    EUR     54.29
HSBC Trinkaus & Burkhar    7.20 12/23/2016    EUR     73.96
BNP Paribas Emissions-     7.00 12/22/2016    EUR     67.83
BNP Paribas Emissions-     4.00 12/22/2016    EUR     60.08
BNP Paribas Emissions-    12.00 12/22/2016    EUR     58.71
BNP Paribas Emissions-     4.50 12/22/2016    EUR     67.44
BNP Paribas Emissions-    11.00 12/22/2016    EUR     38.13
BNP Paribas Emissions-     9.00 12/22/2016    EUR     74.47
Notenstein La Roche Pri    5.80  5/29/2017    CHF     69.77
Credit Suisse AG/Nassau    6.00  12/2/2016    EUR     53.10
UniCredit Bank AG          4.00 12/22/2016    EUR     74.78
UBS AG/London              7.00  5/22/2017    CHF     55.12
Landesbank Baden-Wuertt    2.50 12/22/2017    EUR     69.43
Notenstein La Roche Pri    7.00  8/14/2017    CHF     70.06
Leonteq Securities AG      5.20  8/14/2018    CHF     60.39
UBS AG/London              8.00  5/26/2017    EUR     42.79
Notenstein La Roche Pri    5.80   6/5/2018    CHF     72.38
UBS AG/London              7.50 11/28/2016    EUR     50.46
Notenstein La Roche Pri    6.30  2/14/2017    CHF     50.42
Notenstein La Roche Pri    6.20  2/14/2017    CHF     68.82
Vontobel Financial Prod    5.90  12/9/2016    EUR     69.15
Vontobel Financial Prod    8.70  12/9/2016    EUR     64.34
Leonteq Securities AG     10.40 11/14/2016    EUR     61.84
Notenstein La Roche Pri    6.00 11/21/2016    CHF     66.63
BNP Paribas Emissions-    11.00 12/22/2016    EUR     53.59
BNP Paribas Emissions-     4.50 12/22/2016    EUR     66.92
BNP Paribas Emissions-     8.00 12/22/2016    EUR     70.10
BNP Paribas Emissions-     9.00 12/22/2016    EUR     69.00
BNP Paribas Emissions-    10.00 12/22/2016    EUR     72.93
HSBC Trinkaus & Burkhar    7.40 12/23/2016    EUR     72.16
BNP Paribas Emissions-     4.50 12/22/2016    EUR     73.23
BNP Paribas Emissions-     7.50 12/22/2016    EUR     66.17
BNP Paribas Emissions-     9.50 12/22/2016    EUR     63.34
BNP Paribas Emissions-     7.00 12/22/2016    EUR     74.77
BNP Paribas Emissions-     8.50 12/22/2016    EUR     56.89
BNP Paribas Emissions-    11.00 12/22/2016    EUR     53.09
BNP Paribas Emissions-     7.00 12/22/2016    EUR     42.27
UniCredit Bank AG          4.00 12/22/2016    EUR     69.14
UniCredit Bank AG          4.00 12/22/2016    EUR     72.39
Notenstein La Roche Pri    8.22 11/25/2016    EUR     55.32
Goldman Sachs & Co Wert   13.00  3/22/2017    EUR     65.76
EFG International Finan    2.67  6/26/2018    CHF     74.31
Leonteq Securities AG     10.00 11/14/2016    CHF     39.47
Leonteq Securities AG      8.00 11/14/2016    CHF     68.76
UBS AG/London              8.25   8/7/2017    EUR     66.10
Vontobel Financial Prod    8.10  12/9/2016    EUR     74.92
Vontobel Financial Prod    4.05  12/9/2016    EUR     46.17
Vontobel Financial Prod   12.50 12/23/2016    EUR     72.84
Vontobel Financial Prod    9.80 12/23/2016    EUR     59.09
Vontobel Financial Prod   11.50 11/22/2016    EUR     69.86
Vontobel Financial Prod   15.00 12/23/2016    EUR     70.19
HSBC Trinkaus & Burkhar    7.60 12/23/2016    EUR     61.27
HSBC Trinkaus & Burkhar    9.20 12/23/2016    EUR     64.11
EFG International Finan    7.20  6/26/2017    GBP     43.03
Leonteq Securities AG      4.68  10/7/2016    EUR     72.62
DZ Bank AG Deutsche Zen    7.30 12/19/2016    EUR     42.50
DZ Bank AG Deutsche Zen    6.80 12/19/2016    EUR     71.36
Vontobel Financial Prod    8.00 12/23/2016    EUR     72.29
Zurcher Kantonalbank Fi    8.50  7/17/2017    CHF     57.68
Leonteq Securities AG      8.00 10/13/2016    CHF     69.38
Landesbank Baden-Wuertt    3.50 12/23/2016    EUR     48.88
Landesbank Baden-Wuertt    3.00 12/23/2016    EUR     65.57
Landesbank Baden-Wuertt    2.55  2/24/2017    EUR     54.79
Landesbank Baden-Wuertt    2.00 12/23/2016    EUR     69.63
Landesbank Baden-Wuertt    4.00 12/23/2016    EUR     62.74
WGZ-Bank AG Westdeutsch    3.50   2/7/2017    EUR     72.05
Landesbank Baden-Wuertt    2.50 12/23/2016    EUR     68.41
WGZ-Bank AG Westdeutsch    4.25  9/27/2016    EUR     54.72
WGZ-Bank AG Westdeutsch    5.00  9/27/2016    EUR     52.46
WGZ-Bank AG Westdeutsch    6.00  9/27/2016    EUR     50.58
Leonteq Securities AG      9.00  12/8/2016    CHF     53.81
Deutsche Bank AG           3.20 10/26/2016    EUR     63.10
Deutsche Bank AG           3.20 10/26/2016    EUR     60.10
Deutsche Bank AG           3.20 10/26/2016    EUR     57.40
Deutsche Bank AG           3.20 11/23/2016    EUR     57.70
Deutsche Bank AG           3.20 10/26/2016    EUR     64.90
Deutsche Bank AG           3.20 12/20/2016    EUR     71.50
Deutsche Bank AG           3.20 12/20/2016    EUR     63.10
Deutsche Bank AG           3.20 12/20/2016    EUR     66.60
Deutsche Bank AG           3.20 12/20/2016    EUR     60.00
Deutsche Bank AG           3.20 11/23/2016    EUR     66.30
Deutsche Bank AG           4.20 11/23/2016    EUR     73.90
Deutsche Bank AG           4.20 10/26/2016    EUR     44.10
Deutsche Bank AG           8.20 11/23/2016    EUR     53.70
Deutsche Bank AG           8.20 11/23/2016    EUR     71.60
Deutsche Bank AG           4.20 11/23/2016    EUR     59.90
Deutsche Bank AG           8.20 11/23/2016    EUR     66.40
Deutsche Bank AG           4.20 11/23/2016    EUR     63.00
Deutsche Bank AG           8.20 10/26/2016    EUR     71.00
UBS AG                     5.50 10/14/2016    EUR     64.30
Goldman Sachs & Co Wert   15.00 12/21/2016    EUR     60.66
Goldman Sachs & Co Wert   14.00 12/21/2016    EUR     66.13
Goldman Sachs & Co Wert    7.00 12/21/2016    EUR     59.00
Goldman Sachs & Co Wert   14.00 12/21/2016    EUR     67.24
Goldman Sachs & Co Wert   15.00 12/21/2016    EUR     36.90
Goldman Sachs & Co Wert   14.00 12/21/2016    EUR     49.58
Goldman Sachs & Co Wert   15.00 12/21/2016    EUR     73.20
Goldman Sachs & Co Wert   15.00 12/21/2016    EUR     60.86
Goldman Sachs & Co Wert   16.00 12/21/2016    EUR     74.22
Notenstein La Roche Pri    4.30  8/21/2018    CHF     73.79
Notenstein La Roche Pri    6.80  2/21/2017    CHF     72.08
Bank Julius Baer & Co L    7.50 12/23/2016    CHF     53.15
Vontobel Financial Prod   15.15 12/23/2016    EUR     60.70
Landesbank Hessen-Thuer    3.15 10/10/2016    EUR     48.70
Raiffeisen Centrobank A    9.50  7/13/2017    EUR     73.24
Bayerische Landesbank      2.40  7/20/2018    EUR     52.60
DZ Bank AG Deutsche Zen    5.75 12/23/2016    EUR     39.82
Vontobel Financial Prod    6.25  12/2/2016    EUR     69.82
BNP Paribas Emissions-     8.00 12/22/2016    EUR     47.63
BNP Paribas Emissions-     7.00 12/22/2016    EUR     70.30
BNP Paribas Emissions-     9.00 12/22/2016    EUR     65.96
BNP Paribas Emissions-     3.50 12/22/2016    EUR     66.69
BNP Paribas Emissions-     6.00 12/22/2016    EUR     58.91
BNP Paribas Emissions-     9.50 12/22/2016    EUR     53.24
BNP Paribas Emissions-     9.00 12/22/2016    EUR     72.71
BNP Paribas Emissions-     8.00 12/22/2016    EUR     37.51
BNP Paribas Emissions-     4.00 12/22/2016    EUR     67.14
BNP Paribas Emissions-     6.00 12/22/2016    EUR     61.00
Deutsche Bank AG           6.20 12/20/2016    EUR     69.00
Deutsche Bank AG           4.20 12/20/2016    EUR     75.00
Deutsche Bank AG           4.20 12/20/2016    EUR     70.70
BNP Paribas Emissions-     6.00 12/22/2016    EUR     66.39
BNP Paribas Emissions-     7.50 12/22/2016    EUR     56.66
BNP Paribas Emissions-     6.00 12/22/2016    EUR     60.55
Deutsche Bank AG           7.20  3/21/2017    EUR     60.60
BNP Paribas Emissions-     9.50 12/22/2016    EUR     74.41
Deutsche Bank AG           5.20  3/21/2017    EUR     46.30
Deutsche Bank AG           7.20  3/21/2017    EUR     45.70
Deutsche Bank AG           5.20  3/21/2017    EUR     43.20
Deutsche Bank AG           7.20  3/21/2017    EUR     42.80
Deutsche Bank AG           5.20  3/21/2017    EUR     41.80
BNP Paribas Emissions-     6.00 12/22/2016    EUR     45.15
Deutsche Bank AG           5.20  3/21/2017    EUR     64.40
BNP Paribas Emissions-     6.00 12/22/2016    EUR     72.38
BNP Paribas Emissions-     7.00 12/22/2016    EUR     63.72
BNP Paribas Emissions-     5.00 12/22/2016    EUR     73.54
Deutsche Bank AG           5.20  3/21/2017    EUR     68.30
Deutsche Bank AG           7.20 11/23/2016    EUR     74.20
Deutsche Bank AG           7.20 10/26/2016    EUR     63.50
Deutsche Bank AG           5.20 10/26/2016    EUR     57.60
Deutsche Bank AG           7.20 11/23/2016    EUR     58.30
Deutsche Bank AG           5.20 11/23/2016    EUR     58.00
Deutsche Bank AG           5.20 10/26/2016    EUR     44.20
Deutsche Bank AG           5.20 10/26/2016    EUR     42.60
Deutsche Bank AG           7.20 10/26/2016    EUR     41.30
Deutsche Bank AG           7.20 10/26/2016    EUR     39.90
Deutsche Bank AG           5.20 10/26/2016    EUR     39.70
Deutsche Bank AG           5.20 10/26/2016    EUR     38.40
Deutsche Bank AG           5.20 11/23/2016    EUR     44.60
Raiffeisen Centrobank A    9.07  3/22/2017    EUR     64.43
Raiffeisen Centrobank A    7.37  3/22/2017    EUR     64.19
Deutsche Bank AG           5.20 10/26/2016    EUR     70.80
Deutsche Bank AG           7.20 10/26/2016    EUR     71.10
Deutsche Bank AG           5.20 11/23/2016    EUR     71.10
Vontobel Financial Prod    7.50 12/12/2016    EUR     53.27
BNP Paribas Emissions-     3.25 11/24/2017    EUR     62.46
Landesbank Hessen-Thuer    8.90  10/6/2020    EUR     59.59
Leonteq Securities AG/G    6.84   2/6/2017    EUR     74.59
Landesbank Baden-Wuertt    3.50  7/27/2018    EUR     47.55
Landesbank Baden-Wuertt    3.40  9/28/2018    EUR     51.11
UBS AG                     3.60  12/9/2016    EUR     61.49
UBS AG                     2.60  12/9/2016    EUR     65.06
UBS AG                     2.90  12/9/2016    EUR     48.49
Landesbank Baden-Wuertt    3.50  6/23/2017    EUR     68.38
Landesbank Baden-Wuertt    5.50  6/23/2017    EUR     57.13
Landesbank Baden-Wuertt    2.50  6/23/2017    EUR     52.41
Landesbank Baden-Wuertt    4.00  6/23/2017    EUR     48.16
Landesbank Baden-Wuertt    5.50  6/23/2017    EUR     45.50
Landesbank Baden-Wuertt    2.50  6/23/2017    EUR     65.59
Landesbank Baden-Wuertt    3.50  6/23/2017    EUR     62.35
Landesbank Baden-Wuertt    5.00  6/23/2017    EUR     66.51
Landesbank Baden-Wuertt    6.00  6/23/2017    EUR     56.87
Notenstein La Roche Pri    5.80 12/12/2016    CHF     73.44
UniCredit Bank AG          4.00 12/22/2016    EUR     53.24
UniCredit Bank AG          4.00 12/22/2016    EUR     52.72
Notenstein La Roche Pri    8.02  8/11/2017    EUR     64.24
UniCredit Bank AG          4.00 12/22/2016    EUR     51.22
UniCredit Bank AG          4.00 12/22/2016    EUR     53.80
UniCredit Bank AG          4.00 12/22/2016    EUR     70.89
HSBC Trinkaus & Burkhar    7.10 12/23/2016    EUR     56.75
Vontobel Financial Prod    4.30 12/23/2016    EUR     74.08
Vontobel Financial Prod    5.35 12/23/2016    EUR     58.61
Societe Generale Effekt    4.79 10/10/2016    EUR     52.46
Societe Generale Effekt    8.26 10/10/2016    EUR     37.81
Societe Generale Effekt    5.73 10/10/2016    EUR     64.04
DekaBank Deutsche Giroz    2.80  7/22/2019    EUR     65.83
Bayerische Landesbank      2.70  7/13/2018    EUR     64.49
Goldman Sachs & Co Wert    8.00 12/21/2016    EUR     72.19
Goldman Sachs & Co Wert    5.00 12/21/2016    EUR     64.27
Goldman Sachs & Co Wert    9.00 12/21/2016    EUR     54.71
Goldman Sachs & Co Wert   10.00 12/21/2016    EUR     74.44
Goldman Sachs & Co Wert    8.00 12/21/2016    EUR     43.90
Notenstein La Roche Pri    6.20  2/21/2017    EUR     68.57
EFG International Finan   11.12 12/12/2016    USD     58.79
Vontobel Financial Prod   16.30 12/23/2016    EUR     64.33
Vontobel Financial Prod   16.35 12/23/2016    EUR     33.75
Vontobel Financial Prod   15.25 12/23/2016    EUR     73.95
Vontobel Financial Prod    5.35 12/16/2016    EUR     65.50
Landesbank Baden-Wuertt    3.55 11/25/2016    EUR     74.87
Landesbank Baden-Wuertt    3.00  6/23/2017    EUR     56.97
Notenstein La Roche Pri    3.00   7/3/2019    CHF     67.84
Leonteq Securities AG      6.77  8/17/2017    CHF     50.97
Notenstein La Roche Pri    6.50  6/26/2017    EUR     60.97
Leonteq Securities AG     10.00  9/26/2016    CHF     54.41
Leonteq Securities AG      8.40  9/26/2016    CHF     72.22
Leonteq Securities AG      9.20  9/26/2016    EUR     70.30
BNP Paribas Emissions-     9.00 12/22/2016    EUR     45.88
Vontobel Financial Prod    5.10  12/2/2016    EUR     64.98
BNP Paribas Emissions-     7.50 12/22/2016    EUR     67.93
BNP Paribas Emissions-     5.50 12/22/2016    EUR     62.11
BNP Paribas Emissions-    10.00 12/22/2016    EUR     68.58
BNP Paribas Emissions-    10.00 12/22/2016    EUR     72.58
Deutsche Bank AG           4.20 12/20/2016    EUR     63.80
BNP Paribas Emissions-    13.00 12/22/2016    EUR     72.21
Deutsche Bank AG           5.20 12/20/2016    EUR     68.80
BNP Paribas Emissions-    10.00 12/22/2016    EUR     72.29
Deutsche Bank AG           5.20 12/20/2016    EUR     67.10
Deutsche Bank AG           4.20 12/20/2016    EUR     66.80
BNP Paribas Emissions-     9.00 12/22/2016    EUR     74.09
BNP Paribas Emissions-     9.50 12/22/2016    EUR     72.21
Deutsche Bank AG           7.20  3/21/2017    EUR     73.70
BNP Paribas Emissions-     5.50 12/22/2016    EUR     61.40
Deutsche Bank AG           5.20  3/21/2017    EUR     65.20
Deutsche Bank AG           7.20  3/21/2017    EUR     66.20
BNP Paribas Emissions-    10.00 12/22/2016    EUR     72.93
Deutsche Bank AG           7.20  3/21/2017    EUR     47.30
BNP Paribas Emissions-     3.50 12/22/2016    EUR     50.26
BNP Paribas Emissions-     5.00 12/22/2016    EUR     46.67
Deutsche Bank AG           7.20  3/21/2017    EUR     41.50
BNP Paribas Emissions-     8.50 12/22/2016    EUR     41.22
BNP Paribas Emissions-     8.00 12/22/2016    EUR     65.80
BNP Paribas Emissions-    10.00 12/22/2016    EUR     59.31
Deutsche Bank AG           7.20  3/21/2017    EUR     73.10
Deutsche Bank AG           5.20 10/26/2016    EUR     73.50
Deutsche Bank AG           7.20 10/26/2016    EUR     73.70
Deutsche Bank AG           7.20 10/26/2016    EUR     70.90
Deutsche Bank AG           5.20 11/23/2016    EUR     73.90
Deutsche Bank AG           7.20 11/23/2016    EUR     71.40
Bank Julius Baer & Co L    6.00  6/19/2017    EUR     68.75
Credit Suisse AG/London    6.10 12/19/2016    EUR     40.86
Deutsche Bank AG           5.20 10/26/2016    EUR     63.30
Deutsche Bank AG           5.20 11/23/2016    EUR     63.70
Deutsche Bank AG           7.20 10/26/2016    EUR     44.40
Deutsche Bank AG           7.20 10/26/2016    EUR     38.50
Deutsche Bank AG           7.20 11/23/2016    EUR     44.90
Deutsche Bank AG           5.20 11/23/2016    EUR     43.00
Deutsche Bank AG           5.20 11/23/2016    EUR     41.50
Deutsche Bank AG           5.20 11/23/2016    EUR     40.10
Deutsche Bank AG           5.20 11/23/2016    EUR     38.80
Raiffeisen Centrobank A    7.37  3/22/2017    EUR     68.91
Deutsche Bank AG           7.20 11/23/2016    EUR     71.60
Deutsche Bank AG           5.20 11/23/2016    EUR     74.90
Deutsche Bank AG           5.20 11/23/2016    EUR     66.70
Landesbank Baden-Wuertt    3.00  7/26/2019    EUR     68.60
Vontobel Financial Prod    5.00 12/23/2016    EUR     64.25
Vontobel Financial Prod   13.40 12/23/2016    EUR     51.71
Deutsche Bank AG           6.50 12/20/2016    EUR     74.23
EFG International Finan    5.30  6/24/2019    EUR     58.36
Vontobel Financial Prod    6.00 12/23/2016    EUR     55.63
Goldman Sachs & Co Wert   14.00  6/21/2017    EUR     71.27
Goldman Sachs & Co Wert    4.00  6/21/2017    EUR     74.91
Goldman Sachs & Co Wert   13.00  6/21/2017    EUR     53.90
Goldman Sachs & Co Wert   12.00  6/21/2017    EUR     73.03
Goldman Sachs & Co Wert   16.00 12/21/2016    EUR     37.13
Goldman Sachs & Co Wert    3.00  3/22/2017    EUR     61.07
Goldman Sachs & Co Wert   14.00  3/22/2017    EUR     40.26
Goldman Sachs & Co Wert    6.00  6/21/2017    EUR     51.74
Goldman Sachs & Co Wert   13.00  3/22/2017    EUR     71.20
Goldman Sachs & Co Wert    6.00  3/22/2017    EUR     73.17
Vontobel Financial Prod    6.85 12/23/2016    EUR     67.73
Vontobel Financial Prod   10.80 12/23/2016    EUR     62.07
Leonteq Securities AG      5.40  8/28/2017    CHF     54.49
Leonteq Securities AG     10.00 11/28/2016    CHF     74.15
UBS AG/London              7.00  6/26/2017    EUR     60.56
Deutsche Bank AG           4.50 12/20/2016    EUR     64.20
Notenstein La Roche Pri    6.90  8/28/2017    CHF     67.41
Landesbank Baden-Wuertt    3.70  7/27/2018    EUR     64.98
Deutsche Bank AG           6.50 12/20/2016    EUR     66.50
Deutsche Bank AG           4.50 12/20/2016    EUR     66.00
Deutsche Bank AG           6.50 12/20/2016    EUR     62.20
Deutsche Bank AG           8.20 12/20/2016    EUR     60.20
Zurcher Kantonalbank Fi    5.80  8/21/2017    CHF     66.68
Deutsche Bank AG           6.50 12/20/2016    EUR     72.40
Vontobel Financial Prod    4.00 12/12/2016    EUR     60.30
Vontobel Financial Prod    4.45  12/9/2016    EUR     68.39
Vontobel Financial Prod    5.00  12/9/2016    EUR     71.34
Landesbank Baden-Wuertt    3.40  7/27/2018    EUR     61.71
UBS AG                     3.30  12/9/2016    EUR     63.76
UBS AG                     4.30  12/9/2016    EUR     74.05
Landesbank Baden-Wuertt    5.50  6/23/2017    EUR     71.99
Landesbank Baden-Wuertt    2.50  6/23/2017    EUR     66.76
Landesbank Baden-Wuertt    5.50  6/23/2017    EUR     74.79
Landesbank Baden-Wuertt    4.50  6/23/2017    EUR     59.93
Landesbank Baden-Wuertt    3.00  6/23/2017    EUR     72.34
Landesbank Baden-Wuertt    5.50  6/23/2017    EUR     72.48
Landesbank Baden-Wuertt    3.00  6/23/2017    EUR     64.19
Landesbank Baden-Wuertt    5.00  6/23/2017    EUR     58.71
Notenstein La Roche Pri    6.40  6/12/2017    CHF     70.33
UniCredit Bank AG          4.00 12/22/2016    EUR     73.21
UniCredit Bank AG          4.00 12/22/2016    EUR     51.29
Notenstein La Roche Pri    7.00  8/11/2017    CHF     63.81
Credit Suisse AG/Nassau    6.38  6/12/2017    EUR     57.55
HSBC Trinkaus & Burkhar    8.50 12/23/2016    EUR     71.20
HSBC Trinkaus & Burkhar    7.10 12/23/2016    EUR     74.39
Vontobel Financial Prod    6.40 12/23/2016    EUR     69.18
Vontobel Financial Prod    8.05 12/23/2016    EUR     37.35
Vontobel Financial Prod    6.15 12/23/2016    EUR     39.26
Vontobel Financial Prod    4.45 12/23/2016    EUR     41.56
Vontobel Financial Prod    7.75 12/23/2016    EUR     54.40
Vontobel Financial Prod   12.50 12/23/2016    EUR     56.01
Vontobel Financial Prod    5.00  1/10/2017    EUR     41.25
Societe Generale Effekt    9.72 10/10/2016    EUR     44.31
Credit Suisse AG/Nassau    8.00  2/21/2017    EUR     72.68
Credit Suisse AG/London    7.00  2/20/2017    CHF     73.66
Societe Generale Effekt    9.99 10/10/2016    EUR     35.69
Societe Generale Effekt    4.26 10/10/2016    EUR     68.01
Societe Generale Effekt    9.39 10/10/2016    EUR     57.42
DZ Bank AG Deutsche Zen    3.45  8/25/2017    EUR     50.19
Goldman Sachs & Co Wert    3.00  3/22/2017    EUR     64.12
Goldman Sachs & Co Wert    6.00 12/21/2016    EUR     71.66
Vontobel Financial Prod    5.05  12/9/2016    EUR     68.51
DekaBank Deutsche Giroz    4.75  1/20/2017    EUR     62.42
UBS AG                     4.30  12/9/2016    EUR     59.82
Landesbank Baden-Wuertt    4.00  6/23/2017    EUR     60.91
Landesbank Baden-Wuertt    4.00  6/23/2017    EUR     69.03
Landesbank Baden-Wuertt    4.00  6/23/2017    EUR     61.19
Notenstein La Roche Pri    7.00 12/12/2016    EUR     58.82
UniCredit Bank AG          4.00 12/22/2016    EUR     52.21
UniCredit Bank AG          4.00 12/22/2016    EUR     51.71
UniCredit Bank AG          4.00 12/22/2016    EUR     73.35
HSBC Trinkaus & Burkhar    7.20 12/23/2016    EUR     42.33
HSBC Trinkaus & Burkhar    7.10 12/23/2016    EUR     72.93
HSBC Trinkaus & Burkhar    7.70 12/23/2016    EUR     61.69
Vontobel Financial Prod    5.30 12/23/2016    EUR     71.51
Raiffeisen Centrobank A    6.89  6/20/2017    EUR     55.82
Landesbank Hessen-Thuer    3.60 10/10/2016    EUR     74.10
Societe Generale Effekt    6.25 10/10/2016    EUR     49.34
Societe Generale Effekt   13.91 10/10/2016    EUR     32.15
DekaBank Deutsche Giroz    5.15  12/9/2016    EUR     58.47
Deutsche Bank AG           5.20 10/26/2016    EUR     74.50
Deutsche Bank AG           5.20 10/26/2016    EUR     70.10
Deutsche Bank AG           5.20 10/26/2016    EUR     66.30
Deutsche Bank AG           7.20 10/26/2016    EUR     66.40
Deutsche Bank AG           7.20 11/23/2016    EUR     67.00
Vontobel Financial Prod    7.60 12/23/2016    EUR     56.51
Vontobel Financial Prod   10.00 12/23/2016    EUR     49.51
Vontobel Financial Prod   11.70 12/23/2016    EUR     47.57
Goldman Sachs & Co Wert    6.00  3/22/2017    EUR     65.95
Goldman Sachs & Co Wert    8.00  3/22/2017    EUR     61.33
Goldman Sachs & Co Wert   14.00  3/22/2017    EUR     52.01
Goldman Sachs & Co Wert    5.00  6/21/2017    EUR     71.52
Goldman Sachs & Co Wert    6.00  6/21/2017    EUR     66.00
Goldman Sachs & Co Wert    8.00  6/21/2017    EUR     62.09
Goldman Sachs & Co Wert   13.00  3/22/2017    EUR     72.97
Goldman Sachs & Co Wert    3.00 12/21/2016    EUR     54.71
Goldman Sachs & Co Wert    4.00  3/22/2017    EUR     55.99
Goldman Sachs & Co Wert    4.00  3/22/2017    EUR     53.56
Goldman Sachs & Co Wert    5.00  3/22/2017    EUR     49.77
Goldman Sachs & Co Wert    6.00  3/22/2017    EUR     48.38
Goldman Sachs & Co Wert    7.00  3/22/2017    EUR     47.12
Goldman Sachs & Co Wert    8.00  3/22/2017    EUR     44.50
Goldman Sachs & Co Wert   10.00  3/22/2017    EUR     42.77
Goldman Sachs & Co Wert    3.00  6/21/2017    EUR     61.53
Goldman Sachs & Co Wert    4.00  6/21/2017    EUR     54.48
Goldman Sachs & Co Wert    4.00  6/21/2017    EUR     56.86
Goldman Sachs & Co Wert    6.00  6/21/2017    EUR     49.87
Goldman Sachs & Co Wert   10.00  6/21/2017    EUR     45.31
Goldman Sachs & Co Wert   13.00  6/21/2017    EUR     73.51
Goldman Sachs & Co Wert    4.00 12/21/2016    EUR     71.01
Goldman Sachs & Co Wert    4.00  6/21/2017    EUR     72.12
Goldman Sachs & Co Wert    5.00  6/21/2017    EUR     69.26
Vontobel Financial Prod    5.00 12/23/2016    EUR     71.15
UBS AG/London              9.25  6/26/2017    CHF     69.09
Deutsche Bank AG           6.50 12/20/2016    EUR     59.80
Deutsche Bank AG           4.50 12/20/2016    EUR     59.30
Deutsche Bank AG           6.50 12/20/2016    EUR     59.00
Deutsche Bank AG           4.50 12/20/2016    EUR     58.50
Deutsche Bank AG           6.50 12/20/2016    EUR     64.70
Deutsche Bank AG           4.50 12/20/2016    EUR     61.70
Deutsche Bank AG           8.20 12/20/2016    EUR     59.40
Deutsche Bank AG           8.20 12/20/2016    EUR     62.60
Deutsche Bank AG           6.20 12/20/2016    EUR     72.30
Deutsche Bank AG           6.20  6/20/2017    EUR     73.80
Goldman Sachs & Co Wert   21.00  6/21/2017    EUR     72.52
BNP Paribas Emissions-    11.00 12/22/2016    EUR     68.94
BNP Paribas Emissions-     6.50 12/22/2016    EUR     55.65
BNP Paribas Emissions-    10.00 12/22/2016    EUR     49.71
BNP Paribas Emissions-    10.00 12/22/2016    EUR     72.55
BNP Paribas Emissions-    15.00 12/22/2016    EUR     64.30
Vontobel Financial Prod    4.50 12/23/2016    EUR     57.77
Vontobel Financial Prod   14.50 12/23/2016    EUR     43.97
Vontobel Financial Prod   14.00 12/23/2016    EUR     57.56
Vontobel Financial Prod   15.00 12/23/2016    EUR     56.22
Vontobel Financial Prod    6.50 12/23/2016    EUR     70.26
Vontobel Financial Prod    9.50 12/23/2016    EUR     63.94
Vontobel Financial Prod    5.75 12/23/2016    EUR     72.76
Bank Julius Baer & Co L    7.50  9/30/2016    EUR     37.45
Goldman Sachs & Co Wert   19.00 12/21/2016    EUR     69.74
Goldman Sachs & Co Wert   16.00  3/22/2017    EUR     73.15
Goldman Sachs & Co Wert    3.00 12/21/2016    EUR     71.34
Goldman Sachs & Co Wert    6.00 12/21/2016    EUR     61.07
Goldman Sachs & Co Wert    7.00  3/22/2017    EUR     57.43
Goldman Sachs & Co Wert    7.00  6/21/2017    EUR     59.06
Credit Suisse AG/Nassau    7.00 10/13/2016    CHF     73.04
Deutsche Bank AG           4.20 12/20/2016    EUR     74.70
Deutsche Bank AG           4.20 12/20/2016    EUR     57.90
Deutsche Bank AG           4.20 12/20/2016    EUR     52.70
Deutsche Bank AG           4.20 12/20/2016    EUR     72.20
Deutsche Bank AG           6.20 12/20/2016    EUR     70.00
Deutsche Bank AG           6.20 10/26/2016    EUR     74.50
Deutsche Bank AG           5.20 11/23/2016    EUR     74.70
Deutsche Bank AG           6.20 11/23/2016    EUR     74.90
Deutsche Bank AG           6.20 10/26/2016    EUR     54.70
Deutsche Bank AG           6.20 10/26/2016    EUR     52.30
Deutsche Bank AG           6.20 10/26/2016    EUR     50.00
Deutsche Bank AG           5.20 11/23/2016    EUR     55.00
Deutsche Bank AG           5.20 11/23/2016    EUR     52.60
Deutsche Bank AG           5.20 11/23/2016    EUR     50.30
Deutsche Bank AG           6.20 10/26/2016    EUR     72.00
Deutsche Bank AG           5.20 10/26/2016    EUR     69.20
Deutsche Bank AG           6.20 10/26/2016    EUR     64.40
Deutsche Bank AG           5.20 10/26/2016    EUR     64.30
Deutsche Bank AG           6.20 11/23/2016    EUR     72.30
Deutsche Bank AG           6.20 11/23/2016    EUR     69.60
Deutsche Bank AG           5.20 11/23/2016    EUR     69.50
Deutsche Bank AG           5.20 11/23/2016    EUR     67.00
Deutsche Bank AG           6.20 11/23/2016    EUR     67.10
Deutsche Bank AG           6.20 11/23/2016    EUR     64.80
BNP Paribas Emissions-     7.00 12/22/2016    EUR     49.11
BNP Paribas Emissions-    16.00 12/22/2016    EUR     39.36
BNP Paribas Emissions-    10.00 12/22/2016    EUR     73.21
Zurcher Kantonalbank Fi    8.50 10/16/2017    CHF     70.89
Bank Julius Baer & Co L   16.30 10/13/2016    CHF     62.65
UniCredit Bank AG          4.10 12/22/2016    EUR     54.42
UniCredit Bank AG          4.50 12/22/2016    EUR     52.10
UniCredit Bank AG          4.40 12/22/2016    EUR     52.66
UniCredit Bank AG          4.30 12/22/2016    EUR     53.24
UniCredit Bank AG          4.20 12/22/2016    EUR     53.82
BNP Paribas Emissions-     9.00 12/22/2016    EUR     72.11
BNP Paribas Emissions-     6.00 12/22/2016    EUR     58.22
BNP Paribas Emissions-     8.00 12/22/2016    EUR     53.54
BNP Paribas Emissions-     9.50 12/22/2016    EUR     51.65
BNP Paribas Emissions-    12.00 12/22/2016    EUR     48.29
BNP Paribas Emissions-     6.00 12/22/2016    EUR     57.31
BNP Paribas Emissions-    14.00 12/22/2016    EUR     66.50
Vontobel Financial Prod   11.50 12/23/2016    EUR     46.37
Vontobel Financial Prod   12.00 12/23/2016    EUR     60.57
Vontobel Financial Prod   13.00 12/23/2016    EUR     58.97
Vontobel Financial Prod    7.50 12/23/2016    EUR     67.99
Goldman Sachs & Co Wert   21.00 10/26/2016    EUR     66.96
Goldman Sachs & Co Wert    4.00 12/21/2016    EUR     67.53
Goldman Sachs & Co Wert    5.00 12/21/2016    EUR     64.12
Goldman Sachs & Co Wert    5.00  3/22/2017    EUR     65.22
Goldman Sachs & Co Wert    5.00  3/22/2017    EUR     62.03
Goldman Sachs & Co Wert    5.00  6/21/2017    EUR     66.04
Goldman Sachs & Co Wert    6.00  6/21/2017    EUR     63.73
Vontobel Financial Prod    8.65  12/9/2016    EUR     61.27
Deutsche Bank AG           6.20 12/20/2016    EUR     58.30
Deutsche Bank AG           4.20 12/20/2016    EUR     55.20
Deutsche Bank AG           6.20 12/20/2016    EUR     72.70
Deutsche Bank AG           4.20 12/20/2016    EUR     69.50
Deutsche Bank AG           5.20 10/26/2016    EUR     74.40
Deutsche Bank AG           6.20 10/26/2016    EUR     57.40
Deutsche Bank AG           5.20 10/26/2016    EUR     57.30
Deutsche Bank AG           5.20 10/26/2016    EUR     54.60
Deutsche Bank AG           5.20 10/26/2016    EUR     52.20
Deutsche Bank AG           5.20 10/26/2016    EUR     49.90
Deutsche Bank AG           5.20 11/23/2016    EUR     57.70
Deutsche Bank AG           6.20 11/23/2016    EUR     57.90
Deutsche Bank AG           6.20 11/23/2016    EUR     55.20
Deutsche Bank AG           6.20 11/23/2016    EUR     52.70
Deutsche Bank AG           6.20 11/23/2016    EUR     50.50
Deutsche Bank AG           5.20 10/26/2016    EUR     72.00
Deutsche Bank AG           6.20 10/26/2016    EUR     69.30
Deutsche Bank AG           6.20 10/26/2016    EUR     66.80
Deutsche Bank AG           5.20 10/26/2016    EUR     66.70
Deutsche Bank AG           5.20 11/23/2016    EUR     72.20
Deutsche Bank AG           5.20 11/23/2016    EUR     64.60
DZ Bank AG Deutsche Zen    5.70 12/19/2016    EUR     53.96
BNP Paribas Emissions-    10.00 12/22/2016    EUR     45.07
Landesbank Baden-Wuertt    4.00  6/23/2017    EUR     59.17
Bank Julius Baer & Co L   10.60  10/6/2016    CHF     32.40
UBS AG                     7.50  12/9/2016    EUR     70.33
DZ Bank AG Deutsche Zen    5.00 12/23/2016    EUR     69.77
UniCredit Bank AG          4.00 12/22/2016    EUR     55.03
UniCredit Bank AG          4.10 12/22/2016    EUR     56.13
UniCredit Bank AG          4.00 12/22/2016    EUR     56.72
UniCredit Bank AG          4.25 12/22/2016    EUR     45.54
UniCredit Bank AG          5.50 12/22/2016    EUR     62.09
UniCredit Bank AG          4.00 12/22/2016    EUR     65.45
UniCredit Bank AG          4.10 12/22/2016    EUR     74.82
Lehman Brothers Treasur    7.32  7/31/2013    GBP      0.75
UniCredit Bank AG          4.20 12/22/2016    EUR     74.39
Landesbank Baden-Wuertt    3.00  7/26/2019    EUR     55.45
UniCredit Bank AG          4.50 12/22/2016    EUR     73.12
UniCredit Bank AG          5.00 12/22/2016    EUR     50.88
Deutsche Bank AG           7.20 10/26/2016    EUR     74.70
Deutsche Bank AG           7.20 10/26/2016    EUR     70.30
Deutsche Bank AG           5.20 11/23/2016    EUR     70.50
Deutsche Bank AG           7.20 11/23/2016    EUR     70.90
Vontobel Financial Prod    5.00 12/23/2016    EUR     44.81
Vontobel Financial Prod    5.45 12/23/2016    EUR     61.21
Vontobel Financial Prod   10.00 12/23/2016    EUR     67.62
Goldman Sachs & Co Wert   10.00  3/22/2017    EUR     57.57
Goldman Sachs & Co Wert   10.00  6/21/2017    EUR     58.98
Goldman Sachs & Co Wert    4.00 12/21/2016    EUR     52.50
Goldman Sachs & Co Wert    7.00 12/21/2016    EUR     45.28
Goldman Sachs & Co Wert    3.00  6/21/2017    EUR     64.57
Goldman Sachs & Co Wert    7.00  6/21/2017    EUR     48.88
Goldman Sachs & Co Wert    8.00  6/21/2017    EUR     46.52
Goldman Sachs & Co Wert   13.00  6/21/2017    EUR     43.08
Goldman Sachs & Co Wert    7.00  3/22/2017    EUR     63.10
Vontobel Financial Prod    8.80 12/23/2016    EUR     64.72
Landesbank Hessen-Thuer    4.00  7/31/2019    EUR     73.68
Deutsche Bank AG           6.50 12/20/2016    EUR     66.20
Deutsche Bank AG           4.50 12/20/2016    EUR     65.70
Deutsche Bank AG           4.50 12/20/2016    EUR     71.90
Deutsche Bank AG           5.50 12/20/2016    EUR     72.20
DZ Bank AG Deutsche Zen    8.80 12/19/2016    EUR     60.62
DZ Bank AG Deutsche Zen    9.00 12/23/2016    EUR     47.42
UniCredit Bank AG          4.25 12/22/2016    EUR     54.98
UniCredit Bank AG          5.50 12/22/2016    EUR     68.57
UniCredit Bank AG          4.50 12/22/2016    EUR     71.31
UniCredit Bank AG          4.50 12/22/2016    EUR     54.47
Deutsche Bank AG           5.20 12/20/2016    EUR     75.00
Deutsche Bank AG           5.20 12/20/2016    EUR     71.00
Deutsche Bank AG           6.20 12/20/2016    EUR     67.60
Goldman Sachs & Co Wert   13.00  3/22/2017    EUR     37.92
Deutsche Bank AG           5.20 12/20/2016    EUR     55.40
Goldman Sachs & Co Wert   12.00  6/21/2017    EUR     40.50
Deutsche Bank AG           6.20 12/20/2016    EUR     53.20
Deutsche Bank AG           5.20 12/20/2016    EUR     53.00
Deutsche Bank AG           6.20 12/20/2016    EUR     50.90
Deutsche Bank AG           5.20 12/20/2016    EUR     50.70
Deutsche Bank AG           5.20 12/20/2016    EUR     48.60
Deutsche Bank AG           5.20 12/20/2016    EUR     46.70
Vontobel Financial Prod    5.00 12/23/2016    EUR     54.01
Vontobel Financial Prod    9.00 12/23/2016    EUR     65.38
Vontobel Financial Prod   15.00 12/23/2016    EUR     56.28
Landesbank Baden-Wuertt    2.50  8/25/2017    EUR     73.35
Landesbank Baden-Wuertt    4.50  8/25/2017    EUR     66.99
Landesbank Baden-Wuertt    3.00  8/25/2017    EUR     63.30
Landesbank Baden-Wuertt    3.00  8/25/2017    EUR     47.23
Landesbank Baden-Wuertt    5.00  8/25/2017    EUR     43.59
Deutsche Bank AG           7.20 12/20/2016    EUR     65.40
Deutsche Bank AG           7.20 12/20/2016    EUR     61.20
Deutsche Bank AG           7.20 12/20/2016    EUR     57.50
Landesbank Baden-Wuertt    3.00  8/25/2017    EUR     70.63
Vontobel Financial Prod    4.15 12/23/2016    EUR     63.40
Leonteq Securities AG      8.00  11/7/2016    CHF     69.52
HSBC Trinkaus & Burkhar    9.40 12/23/2016    EUR     65.34
HSBC Trinkaus & Burkhar    6.30 12/23/2016    EUR     71.52
HSBC Trinkaus & Burkhar    7.10  3/24/2017    EUR     69.51
Notenstein La Roche Pri    4.00  1/31/2017    EUR     61.25
Deutsche Bank AG           7.20 12/20/2016    EUR     71.50
Deutsche Bank AG           6.20 12/20/2016    EUR     71.20
Deutsche Bank AG           5.20 12/20/2016    EUR     67.40
Deutsche Bank AG           7.20 12/20/2016    EUR     67.80
Notenstein La Roche Pri    7.50   2/7/2017    EUR     68.53
Notenstein La Roche Pri    5.00   8/7/2018    CHF     72.53
Deutsche Bank AG           6.20 12/20/2016    EUR     55.70
Goldman Sachs & Co Wert    9.00  6/21/2017    EUR     42.22
Deutsche Bank AG           7.20 12/20/2016    EUR     55.90
Deutsche Bank AG           7.20 12/20/2016    EUR     53.40
Deutsche Bank AG           7.20 12/20/2016    EUR     51.20
Deutsche Bank AG           6.20 12/20/2016    EUR     48.90
Deutsche Bank AG           7.20 12/20/2016    EUR     49.10
Deutsche Bank AG           6.20 12/20/2016    EUR     47.00
Vontobel Financial Prod    6.50 12/23/2016    EUR     51.72
Deutsche Bank AG           7.20 12/20/2016    EUR     47.20
Deutsche Bank AG           7.20 12/20/2016    EUR     45.50
Landesbank Baden-Wuertt    4.50  8/25/2017    EUR     72.69
Landesbank Baden-Wuertt    2.50  8/25/2017    EUR     74.16
Landesbank Baden-Wuertt    3.50  8/25/2017    EUR     70.68
Landesbank Baden-Wuertt    4.00  8/25/2017    EUR     60.51
Landesbank Baden-Wuertt    5.00  8/25/2017    EUR     58.53
Landesbank Baden-Wuertt    4.00  8/25/2017    EUR     45.09
Deutsche Bank AG           7.20 12/20/2016    EUR     67.80
Deutsche Bank AG           5.20 12/20/2016    EUR     67.30
Deutsche Bank AG           7.20 12/20/2016    EUR     63.30
Deutsche Bank AG           5.20 12/20/2016    EUR     57.10
Leonteq Securities AG     15.00  11/7/2016    CHF     31.64
HSBC Trinkaus & Burkhar    8.30 10/28/2016    EUR     67.13
HSBC Trinkaus & Burkhar   10.20 12/23/2016    EUR     46.17
HSBC Trinkaus & Burkhar    6.20  3/24/2017    EUR     52.43
Leonteq Securities AG     13.00 10/31/2016    USD     63.97
Credit Suisse AG/Nassau    6.00  2/13/2017    CHF     66.95
UBS AG/London              8.00  7/31/2017    CHF     62.50
Credit Suisse AG/Nassau    6.50   2/3/2017    CHF     69.21
Bank Julius Baer & Co L    9.05  2/13/2017    EUR     63.10
Zurcher Kantonalbank Fi    5.75   2/6/2017    EUR     66.79
Vontobel Financial Prod    5.00  2/28/2017    EUR     71.95
Vontobel Financial Prod    3.35  12/9/2016    EUR     72.74
WGZ-Bank AG Westdeutsch    5.75  9/26/2016    EUR     58.69
WGZ-Bank AG Westdeutsch    6.75  9/26/2016    EUR     57.36
WGZ-Bank AG Westdeutsch    3.75  9/26/2016    EUR     67.70
Immigon Portfolioabbau     3.50  5/23/2022    EUR     70.75
Rosbank PJSC               0.01  2/26/2025    RUB     60.06
SG Issuer SA               5.05  4/10/2025    EUR     55.56
HSBC Bank PLC              0.50  4/27/2027    NZD     68.41
Lehman Brothers Treasur    1.60  6/21/2010    JPY      0.75
Agentstvo po Ipotechnom   11.77   2/1/2034    RUB     60.11
Credito Cooperativo Int    1.75   2/4/2025    EUR     74.63



                            *********

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, Julie Anne L. Toledo, 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 * * *