Calculate the dv01 of the new bond (1bp yield/price sensitivity) on 10 Mio USD Nominal Position. Re - Calculate the sensitivity assuming a scenario of 500bp higher rates. Evaluate the results in low vs high rates environment.

Consider following announcement of Turkish Treasury Bond Auction: In order to broaden the investor base and diversify the borrowing instruments, USD denominated fixed coupon rate government bonds will be issued to the banks through direct sale method on August 28th , 2020 (settlement date). In this respect, participants will have to submit their bids on August 26th, 2020 (by 2:00 p.m.) to the Treasury by fax or e-mail. Form can be found in the appendix. For this issuance, participants can bid minimum 10.000 USD and in multiples of 1.000 USD. TRT250823F10 - USD Denominated Fixed Coupon Rate General Information Press Release 24.08.2020 Order Book 26.08.2020 Settlement Date 28.08.2020 Maturity (Days) 1092 ISIN Code TRT250823F10 Maturity Date 25.08.2023 Periodic Coupon Rate (6 Months) 1,87% Payment Dates 1st Coupon Payment 26.02.2021 2nd Coupon Payment 27.08.2021 3rd Coupon Payment 25.02.2022 4th Coupon Payment 26.08.2022 5th Coupon Payment 24.02.2023 6th Coupon Payment 25.08.2023 Maturity Local Bank USD Deposit Rates 1M 0.70% 3M 1.00% Secondary Market Price Yield Z-Spread TURKEY 5 % 03/30/21 Corp 101.00 3.89 3.55 TURKEY 4 V 04/11/23 Corp 102.360 3.16 3.59 TURKEY 7 % 02/05/25 Corp 103.50 6.45 6.15 Consider following announcement of Turkish Treasury Bond Auction: In order to broaden the investor base and diversify the borrowing instruments, USD denominated fixed coupon rate government bonds will be issued to the banks through direct sale method on August 28th , 2020 (settlement date). In this respect, participants will have to submit their bids on August 26th, 2020 (by 2:00 p.m.) to the Treasury by fax or e-mail. Form can be found in the appendix. For this issuance, participants can bid minimum 10.000 USD and in multiples of 1.000 USD. TRT250823F10 - USD Denominated Fixed Coupon Rate General Information Press Release 24.08.2020 Order Book 26.08.2020 Settlement Date 28.08.2020 Maturity (Days) 1092 ISIN Code TRT250823F10 Maturity Date 25.08.2023 Periodic Coupon Rate (6 Months) 1,87% Payment Dates 1st Coupon Payment 26.02.2021 2nd Coupon Payment 27.08.2021 3rd Coupon Payment 25.02.2022 4th Coupon Payment 26.08.2022 5th Coupon Payment 24.02.2023 6th Coupon Payment 25.08.2023 Maturity Local Bank USD Deposit Rates 1M 0.70% 3M 1.00% Secondary Market Price Yield Z-Spread TURKEY 5 % 03/30/21 Corp 101.00 3.89 3.55 TURKEY 4 V 04/11/23 Corp 102.360 3.16 3.59 TURKEY 7 % 02/05/25 Corp 103.50 6.45 6.15