EFTA02398897

From: Barrett, Paul S Sent: Thursday, March 8, 2012 8:48 PM To: Epstein, Jeffrey (jeevacation@omail.com) Cc: Giuffrida, David Subject: Idea on BRL Jeffrey =OD =OA Our BRL put knocked out a few week= ago. We have seen a decent selloff in BRL over the past few days and wo=ld recommend getting long BRL through the following idea: <1=> 1 month =OD 1.7600 ref<=p> =OD Buy 1.7500 BR!. Call Sell 1.750= BRL Put with a 1.9000 Cashless We should do $5MM on this. Paul 1 EFTA_R1_01433579 EFTA02398897 Paul Barrett, CFA Managing Director Global Investment Opportunities Group<=o:p> JPMorgan Private Bank 320 Park Avenue, 14th Floor, New York, NY 1=022 =OD =0AThis email is confidential and subject to important disclaimers and cond=tions including on offers for the purchase or sale of securities, accuracy=and completeness of information, viruses, confidentiality, legal privilege= and legal entity disclaimers, available at http://www.jpmorgan.com/pa=es/disclosures/email. 2 EFTA_R1_01433580 EFTA02398898