From: Brad Wechsler

From: Brad Wechsler To: Jeffrey Epstein <jeevacation@gmail.com> Subject: Re: To Do Date: Thu, 06 Aug 2015 14:39:38 +0000 Jeffrey-i have some of these in my personal acct. Plain vanilla stuff. Pov? Sent from my Verizon Wireless BlackBerry From: "Barrett, Paul S" Date: Thu, 6 Aug 2015 14:17:33 +0000 To: 'Brad Wechsler' Cc: 'Richard Joslint -; Barrett Team< (jeevacation@gmail.com)'<jecvacation(qzmail.com> Subject: To Do Hi Brad >; 'Jeffrey Epstein We would like to have 20% of the portfolio in bank preferreds. Assuming a $10Mm portfolio, we would own 4 names at $500K each. Citi issued a new preferred yesterday that we should buy. Pays a fixed 5.95% coupon for 5 yrs and then floats at L +409.50bps. We can buy this at 100.30 which is a 5.88% ytc. Lending value of 70%. Let me know. Paul Paul Barrett I Managing Director j Global Investment Opportunities Group I E. Morgan Securities LLC Morgan Private Bank I M. Morgan Chase Bank 320 Park Avenue, 14th Floor, New York, NY 10022 NOT AN OFFICIAL CONFIRMATION: For informational purposes only. This report does not represent an official account of the holdings, balances, or transactions made in your account and is being provided at your request. Please refer to your monthly account statement for the official record of all of your account activities. For question, please call yours Morgan representative. In discussion of options and other strategies, results and risks are based solely on hypothetical examples cited; actual results and risks will vary depending on specific circumstances. Investors are urged to consider carefully whether option or option-related products in general, as well as the products or strategies discussed herein are suitable to their needs. In actual transactions, the client's counterparty for OTC derivatives applications is JPMorgan Chase Bank, IS., and affiliates. For a copy of the "Characteristics and Risks of Standardized Options" booklet, please contact your JPMorgan Advisor. This email is confidential and subject to important disclaimers and conditions 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 i tp://www.ipmorgan.com/pages/disclosures/email. This email is confidential and subject to important disclaimers and conditions 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://wwwjpmorgan.corn/pages/disclosures/email EFTA00658782