NEXT CALLS

Note Isin Observation Redemption
Commerzbank EUR 20% Coupon Barrier on GGB ITU RIO - 90% Call (Callable from 2-Sep-09) XS0383317442 23-Feb-12 02-Mar-12
SG 16 FDX UPS TNT XS0466900288 23-Feb-12 28-Feb-12
Commerzbank 16 FDX UPS TNT XS0466095147 23-Feb-12 28-Feb-12
MS 24,00% VALE GGB SID XS0611575811 25-Feb-12 29-Feb-12
MS 1,2% GGB VALE BBD XS0744004937 01-Mar-12 07-Mar-12
EFG 15% ON CZZ PBR CH0110623235 03-Mar-12 10-Mar-12
Santander 1,20% SID VALE BBD XS0736417212 07-Mar-12 21-Mar-12
EFG 7,50% J&J - COSI CH0123070929 08-Mar-12 17-Mar-12
EFG 7,50% J&J CH0120226136 08-Mar-12 17-Mar-12
Nomura 28% Autocall on GOL, SID, UBB XS0286995492 09-Mar-12 16-Mar-12
Nomura 24% Autocall on GOL, SID, UBB EUR XS0287575574 09-Mar-12 16-Mar-12
Commerzbank 12,50% RC on ITU XS0417259669 12-Mar-12 12-Mar-12
Commerzban RUBLE 1565% XS0354069998 13-Mar-12 27-Mar-12
MS 20,00% VALE GGB SID 2yrs XS0628632852 13-Mar-12 18-Mar-12
Calyon special USD 26% Autocall on AXA, CA, UBS GG00B1VKT191 16-Mar-12 01-Apr-12
Commerzbank Phoenix 1,20% SID GB ITU XS0428385271 16-Mar-12 25-Mar-12
Commerzbank Phoenix 1,667% EXTENTION XS0427609945 16-Mar-12 25-Mar-12
SG Phoenix 1,667% XS0448957901 19-Mar-12 23-Mar-12
ML RUBLE 1500% XS0354136425 19-Mar-12 08-Apr-12
SG 1,25% Phoenix on PBR GGB BBD XS0526250252 20-Mar-12 26-Mar-12
Calyon EUR 24% Autocall on AXA, CA, UBS GG00B1VMJV56 21-Mar-12 05-Apr-12
EFG 14% ON PBR VALE BBD CH0111527567 21-Mar-12 28-Mar-12
Commerzbank 12,50% SID XS0498842904 22-Mar-12 07-Apr-12
EFG 10% PBR VALE BBD CH0110622435 22-Mar-12 01-Apr-12
Macquire GSCI Agricola III XS0287608680 23-Mar-12 03-Apr-12
Commerzbank USD 10% Coupon Barrier on PBR RIO BBD - 73.5% PAR (Callable from 22-Mar-10) XS0347124330 23-Mar-12 01-Apr-12
MS 1,55% BAC FBR GGB XS0743553157 23-Mar-12 29-Mar-12
Commerzbank 9,00% RC / AUTOCALL ITUB VALE II XS0611997643 26-Mar-12 02-Apr-12
Calyon 22% Coupon Barrier on PBR RIO BBD 90% Call XS0356077221 26-Mar-12 11-Apr-12
Commerzbank 12% RC on ITU XS0421894998 02-Apr-12 09-Apr-12
SG 14,60% PBR SID GGB XS0547518182 04-Apr-12 11-Apr-12
MS 35% PBR ITUB BBD XS0691293319 06-Apr-12 10-Apr-12
Calyon USD 28% Autocall on AXA, CA, UBS GG00B1VK4702 09-Apr-12 23-Apr-12
Commerzbank 15% Phoenix LLY GSK BMY XS0478961773 11-Apr-12 18-Apr-12
RABOBANK 10,80% RC SID XS0692549347 11-Apr-12 25-Apr-12
Calyon EUR 18% Coupon Barrier on PBR RIO BBD 90% Call XS0357402014 11-Apr-12 18-Apr-12
Calyon 24% Autocall Coupon Barrier on PBR RIO BBD II GG00B24H5X82 11-Apr-12 25-Apr-12
Macquire GSCI Agricola IV XS0294755128 12-Apr-12 20-Apr-12
Commerzbank 9,00% RC GGB XS0619598153 13-Apr-12 20-Apr-12
Nomura 18% Coupon Barrier on PBR RIO BBD 90% Call II XS0360323249 16-Apr-12 30-Apr-12
EFG 20,00% OI XS0568335011 21-Apr-12 30-Apr-12
Commerzbank 20,00% OI XS0568335011 21-Apr-12 30-Apr-12
Commerzbank 11% RC on ITU XS0426743976 30-Apr-12 07-May-12
Calyon 30% Autocall on DB, NOMURA, BNP IV GG00B28ZJ030 30-Apr-12 08-May-12
MS 15% VALE BRFS GFA XS0683561137 02-May-12 09-May-12
Nomura 17.5% Coupon Barrier on SID GGB UBB 90% Call XS0358412376 05-May-12 12-Jun-12
ML 17,50% Coupon Barrier on SID GGB UBB 90% Call (Secondary) XS0397649467 05-May-12 12-Jun-12
ML 17,50% Coupon Barrier on SID GGB BBD 90% Call (Secondary) XS0400718226 05-May-12 12-Jun-12
Commerzbank 9,00% RC on PBR & VALE XS0508237848 09-May-12 07-May-13
EFG / MS / Commerzbank 15 CBK USD XS0475231766 09-May-12 16-May-12
EFG / Commerzbank 15 CBK EUR XS0475232491 09-May-12 16-May-12
Calyon Autocall on Citibank EUR GG00B292SR37 09-May-12 13-Jun-12
RABOBANK 30% SID VALE GGB XS0706031019 10-May-12 24-May-12
RABOBANK 21,00% SID VALE GGB XS0706007142 10-May-12 24-May-12
EFG 20% ODP CH0110622617 11-May-12 18-May-12
Calyon 30% Autocall on DB, NOMURA, BNP I GG00B1W36279 11-May-12 23-May-12
Commerzbank 30% Autocall on DB, NOMURA, BNP V XS0332375459 11-May-12 23-May-12
EFG 30% ON DB BNP NOMURA CH0111527575 11-May-12 23-May-12
MS 32,50% Autocall on VALE ITUB PBR XS0666530646 12-May-12 21-May-12
EFG 7,50% RC / AUTOCALL ITUB CH0124610806 14-May-12 25-May-12
COMMERZBANK PHOENIX 10% PBR VALE BBD XS0433776985 16-May-12 31-May-12
COMMERZBANK PHOENIX 10% PBR VALE BBD II XS0749323712 16-May-12 31-May-12
Nomura EUR 26% Coupon Barrier on SID UBB GGB 90% call II XS0361679391 16-May-12 26-May-12
SG 19% GAZPROM LUKOIL - new strike XS0450658041 19-May-12 27-May-12
Commerzbank 15% BHP & RIO TINTO XS0504463018 19-May-12 02-Jun-12
MS 15% BHP & RIO TINTO XS0608790365 19-May-12 02-Jun-12
MS 26,00% GFA GGB BRFS XS0631011177 19-May-12 26-May-12
Commerzbank 9,70% RC on PBR & VALE XS0509643374 20-May-12 20-May-13
Commerzbank 19% Phoenix on Gazprom & Lukoil II XS0450932800 20-May-12 27-May-12
EFG 14% ON PBR TOTAL EXXON CH0111527633 21-May-12 30-May-12
COMMERZBANK 14% ON PBR TOTAL EXXON XS0502076093 21-May-12 30-May-12
Commerzbank 9,70% RC ITUB XS0514149185 21-May-12 28-May-13
Commerzbank 10,00% RC on PBR & VALE XS0513858885 21-May-12 28-May-13
Calyon 30% Autocall on DB, NOMURA, BNP II GG00B1W5ZR13 21-May-12 06-May-12
Commerzbank 18,50% PBR VALE BBD II XS0533427281 21-May-12 29-Nov-12
EFG 18,50% PBR VALE BBD II CH0115890581 21-May-12 29-Nov-12
EFG 18,50% PBR SID BBD COSI CH0115890680 21-May-12 29-Nov-12
EFG 18,50% PBR SID BBD CH0115890607 21-May-12 29-Nov-12
EFG 20% BP CH0119125240 23-May-12 30-May-12
Commerzbank 20% BP XS0554657030 23-May-12 30-May-12
Commerzbank 10% Autocall on Russia India China XS0445098576 24-May-12 31-May-12
Commerzbank 10% Autocall on Russia XS0445099202 24-May-12 31-May-12
SG 19% GAZPROM LUKOIL XS0448541473 27-May-12 03-Jun-12
Commerzbank 16,10% Phoenix PBR VALE BBD XS0471819929 27-May-12 06-Jun-12
Commerzbank 10,20% RC ITUB VALE XS0513861830 29-May-12 28-May-13
Commerzbank 8,50% RC / AUTOCALL SID XS0633632780 29-May-12 05-Jun-12
Calyon EUR 30% Autocall on DB, NOMURA, BNP GG00B1WSHH42 01-Jun-12 11-Jun-12
ML 25% Autocall on WACHOVIA NOM UBS XS0357194231 01-Jun-12 11-Jun-12
ML EURO 37% Autocall on WACHOVIA NOM UBS XS0363772830 01-Jun-12 11-Jun-12
ML 37% Autocall on WACHOVIA NOM UBS XS0363561548 01-Jun-12 11-Jun-12
SG 19% GAZPROM LUKOIL - 30% protection FR0010813014 04-Jun-12 11-Jun-12
ML USD 19% Autocall on Gazprom and Lukoil XS0363412031 04-Jun-12 11-Jun-12
ML USD 19% Autocall on Gazprom and Lukoil - Secondary XS0397074468 04-Jun-12 11-Jun-12
Commerzbank USD 19% Coupon Barrier on Gazprom and Lukoil XS0433033841 04-Jun-12 11-Jun-12
Commerzbank USD 37% Autocall on WACHOVIA NOMURA UBS XS0364054733 05-Jun-12 10-Jun-12
Commerzbank EUR 37% Autocall on WACHOVIA NOMURA UBS XS0364059880 05-Jun-12 10-Jun-12
ML EUR 25% Autocall on WACHOVIA NOM UBS XS0357792729 05-Jun-12 10-Jun-12
Calyon Autocall on Citibank GG00B28ZMD72 05-Jun-12 10-Jun-12
MS 28,00% SID GGB BRFS XS0638383736 08-Jun-12 15-Jun-12
Calyon 30% Autocall on DB, NOMURA, BNP III GG00B1XFL053 11-Jun-12 29-Jun-12
MS 28,00% SID GGB BRFS - 75% XS0640601802 14-Jun-12 21-Jun-12
MS 28,00% SID GGB BRFS II XS0641249866 15-Jun-12 22-Jun-12
SG 15% EMBRAER XS0474409397 15-Jun-12 20-Jun-12
Commerzbank 10% RC GGB XS0431181618 18-Jun-12 25-Jun-12
EFG 20% VALE SID GGB CH0117510211 18-Jun-12 26-Jun-12
MS 20% VALE SID GGB XS0603641928 18-Jun-12 26-Jun-12
Nomura USD 18.5% Coupon Barrier on PBR RIO BBD XS0363969113 20-Jun-12 27-Jun-12
Nomura EUR 18% Coupon Barrier on PBR RIO BBD XS0365641306 20-Jun-12 27-Jun-12
Commerzbank 23% Phoenix PBR VALE BBD XS0434764089 21-Jun-12 23-Jun-12
Commerzbank 15% KFT XS0571360493 22-Jun-12 29-Jun-12
Commerzbank 23% Phoenix PBR VALE BBD II XS0435226476 27-Jun-12 29-Jun-12
MS 19,30% VALE SID BRFS XS0646266048 30-Jun-12 06-Jul-12
Nomura USD 16.50% Coupon Barrier on SID GGB UBB 90% Call XS0371332213 11-Jul-12 18-Jul-12
SG 10% RC AUTOCALL VALE XS0518252258 09-Jul-12 09-Jul-13
Commerzbank 18.50% Coupon Barrier on PBR RIO BBD XS0375839015 09-Jul-12 14-Jul-12
EFG EUR 18,50% PBR VALE BBD CH0109914991 09-Jul-12 14-Jul-12
MS 8,40% RC on VALE XS0642001431 01-Jul-12 01-Jul-16
Commerzbank 18.25% Coupon Barrier on PBR GGB UBB 90% Call XS0372027978 11-Jul-12 19-Jul-12
Commerzbank EUR 18.25% Coupon Barrier on PBR GGB UBB 90% Call XS0375840294 11-Jul-12 19-Jul-12
Societe Generale 18.25% Coupon Barrier on PBR GGB UBB 90% Call XS04255835450 11-Jul-12 19-Jul-12
Societe Generale 18.25% Coupon Barrier on PBR GGB UBB 90% Call II XS0445457301 11-Jul-12 19-Jul-12
SG 15% Phoenix on ALCOA FR0010820514 13-Jul-12 21-Jul-12
Commerzbank 15% Phoenix on COP AXP KFT XS0459284112 19-Jul-12 26-Jul-12
SG 15% Phoenix on COP AXP KFT XS0459501317 19-Jul-12 26-Jul-12
Commerzbank 9,32% RC / AUTOCALL PBR BP XS0653019629 19-Jul-12 26-Jul-12
Commerzbank 7,50% AXP XS0572765252 19-Jul-12 26-Jul-12
EFG 7,50% AXP CH0120226144 19-Jul-12 26-Jul-12
EFG 7,50% AXP - COSI CH0123072180 19-Jul-12 26-Jul-12
Calyon 29% Autocall on SG, MIZUHO, RBS SPECIAL GG00B1Z6ZK46 20-Jul-12 03-Aug-12
Calyon 31% Autocall on SG, MIZUHO, RBS I GG00B1YP0Y13 20-Jul-12 03-Aug-12
Commerzbank EUR 29% Autocall SG, MIZ, RBS I XS0343810114 20-Jul-12 03-Aug-12
ML 31% Autocall on SG MIZ RBS I XS0352950207 20-Jul-12 03-Aug-12
ML 29% EUR Autocall on SG MIZ RBS I XS0352559156 20-Jul-12 03-Aug-12
Commerzbank 31% Autocall on SG, MIZUHO, RBS I XS0337389604 20-Jul-12 03-Aug-12
Commerzbank 9,00% RC / AUTOCALL VALE ITUB XS0653453828 23-Jul-12 30-Jul-12
Commerzbank 10% Autocall on EUROSTOXX XS0582780689 23-Jul-12 28-Jul-12
Calyon 29% Autocall on SG, MIZUHO, RBS EUR GG00B1YVM767 27-Jul-12 14-Aug-12
Commerzbank 10% RC GGB II XS0442667332 30-Jul-12 30-Jul-12
SG 9,00% RC AUTOCALL ITUB VALE XS0658767289 02-Aug-12 07-Aug-12
Commerzbank 40% Autocall on PBR SID ITU XS0437486375 04-Aug-12 08-Aug-12
SG 9,00% RC AUTOCALL ON SID XS0532337838 10-Aug-12 12-Aug-13
SG 17,00% PHOENIX GFA BRFS ERJ XS0529444498 10-Aug-12 15-Aug-12
EFG 18% ON CITI CH0111527336 14-Aug-12 21-Aug-12
Commerzbank 21,00% VALE SID GGB XS0745160332 15-Aug-12 17-Aug-12
Commerzbank USD 20% Coupon Barrier on GGB ITU RIO - 90% Call (Callable from 17-Aug-09) XS0380166792 15-Aug-12 23-Aug-12
Nomura 20% Coupon Barrier on PBR RIO BBD 90% Call XS0348777938 22-Aug-12 10-Sep-12
MS 9,00% RC VALE - 4,5 Years XS0662938744 23-Aug-12 23-Feb-16
RABOBANK 9,00% RC SID XS0705489846 24-Aug-12 16-Aug-13
MS 10,10% RC BBD - 4 Years XS0673356274 26-Aug-12 26-Aug-15
SG 9,00% RC AUTOCALL ON GGB XS0539486851 04-Sep-12 03-Sep-13
MS 9,25% RC / AUTOCALL ON SID XS0544397929 17-Sep-12 01-Oct-13
Commerzbank 15% Phoenix on P&G J&J WFC - Leverage XS0474589941 19-Sep-12 26-Sep-12
Commerzbank 15% Phoenix on P&G J&J WFC XS0472575736 19-Sep-12 26-Sep-12
EFG EUR 15% PHOENIX ON PFIZER CH0111527344 20-Sep-12 30-Sep-12
EFG 15% PHOENIX ON PFIZER CH0111080492 20-Sep-12 30-Sep-12
SG 15% PHOENIX ON PFIZER XS0498831964 20-Sep-12 30-Sep-12
Commerzbank 20% EUR MKS TSCO WMT XS0497834266 01-Oct-12 14-Oct-12
Commerzbank 20% MKS TSCO WMT XS0495148321 01-Oct-12 14-Oct-12
EFG 20% ON MKS TSCO WMT CH0111527682 01-Oct-12 14-Oct-12
EFG 20% ON MKS TSCO WMT - COSI CH0112093726 01-Oct-12 14-Oct-12
EFG EUR 20% ON MKS TSCO WMT - COSI CH0112093767 01-Oct-12 14-Oct-12
BPI Basket of currencies VS USD XS0388698176 02-Oct-12 02-Oct-12
Commerzbank / SG / MS 15% PKX SAN TSCO XS0606729894 04-Oct-12 11-Oct-12
Nomura 14.5% autocall on Taiwan Index XS0326391942 31-Oct-12 08-Nov-12
Commerzbank 9% RC on VALE - american XS0456717981 30-Sep-12 09-Oct-12
ML Soft Commodity Basket XS0325649761 06-Nov-12 13-Nov-12
MS 9,00% RC / AUTOCALL ON SID XS0554831593 08-Nov-12 08-Nov-13
COMMERZBANK 11,50% CITI XS0559725162 09-Nov-12 16-Nov-11
MS 9,00% RC / AUTOCALL ON SID II XS0558911177 05-Nov-12 05-Nov-13
Commerzbank 6,75% Eur RC/Autocall BBD XS0472559375 03-Dec-12 09-Dec-12
MS 8,00% RC / AUTOCALL on GGB XS0565059978 03-Dec-12 09-Dec-12
SG 7,00% RC AUTOCALL ON GGB XS0679159508 03-Dec-12 09-Dec-12
Santander 15% TESCO XS0747348398 05-Dec-12 19-Dec-12
Commerzbank 15% Tesco XS0747337359 05-Dec-12 19-Dec-12
EFG 80% BRK.B CH0123797521 11-Dec-12 18-Dec-12
Commerzbank 15% KO PG WMT XS0504868349 10-Jan-13 18-Jan-13
MS 15% KO PG WMT XS0585560682 10-Jan-13 18-Jan-13
SG 9,00% RC VALE XS0679164417 30-Jan-13 06-Feb-13
MS 7,12% EUR RC / AUTOCALL ON SID XS0591775324 09-Feb-13 09-Feb-14
Commerzbank 20% JCP XS0702066258 21-Feb-13 27-Feb-13
EFG 20% JCP CH0119125257 21-Feb-13 27-Feb-13
MS 8,10% RC on GGB XS0591789036 22-Feb-13 22-Feb-14
MS 10,50% RC GGB XS0749507363 07-Mar-13 07-Mar-16
Commerzbank 400% Ruble XS0429299216 21-May-13 28-May-13
SOCEITE GENERALE COMMODITY NOTE XS0441519955 28-Jul-14 04-Aug-14
EFG 95% CG WMT- 100% UPSIDE CH0114882803 01-Jul-15 16-Jul-15
MS 115% JNJ XS0592274830 08-Feb-15 22-Feb-16
MS 115% BP XS0592761075 10-Feb-15 24-Feb-16
MS long basket short S&P XS0636592825 03-Jun-16 17-Jun-16
MS 80% SHORT S&P XS0641248546 15-Jun-16 29-Jun-16