From: "Barrett, Paul S"

From: "Barrett, Paul S" To: Brad Wechsler <1 k "Jeffrey Epstein (jeevacation@gmail.com)" leevacation@gmail.com> CC: Barrett Team "Nelson, Justin D" Subject: 2 Themes for Leon - Pharma and Japan Date: Thu, 08 Oct 2015 14:11:51 +0000 Attachments: PFE Sept 10.pdf; BMY Oct 1.pdf; BMY Sept 30.pdf; MRK Oct 2.pdf; MRK- BMY_Sept_30.pdf; PFE_Sept_30.pdf; C8c5_-_IsT4S_12M_JPNR.400-SBEN_100915.pdf Jeffrey/Brad 2 things we would like to implement in the portfolio: 1. Take advantage of the sell-off in Healthcare by buying 3 large cap pharma names. Name Ticker Rating JPM Target Merck & Co., Inc. MRK OW $66 Pfizer Inc. PFE OW $40 Bristol-Myers Squibb Co. BMY OW $78 Source: Bloomberg 10/07/2015 2. Nikkei 400 linked structured note: We think there is further BoJ easing given their inability to reach inflation targets Re-allocation from Fixed income into Equities by local pension plans (estimated $50Bln) The 12% selloff since August offers an attractive entry level. Index up 3% YTD. Paul Paul Barrett I Managing Director I Global Investment Opportunities Group I Morgan Securities LLC Morgan Private Bank I M. Morgan Chase Sank 320 Park Avenue, 14th Floor, New York, NY 10022 I T: I F: (212) 310-0108 I 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, M., 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 http://www.jpmorgan.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, EFTA00844056 and legal entity disclaimers, available at EFTA00844057