From: "Jeffrey E." <jeevacation@gmail.com>
To: Richard Kahn
Subject: Fwd: FW: Pfd idea
Date: Mon, 09 May 2016 19:25:07 +0000
Forwarded message
From: Barrett, Paul S 4
Date: Mon, May 9, 2016 at 3:12 PM
Subject: FW: Pfd idea
To: "Jeffrey Epstein (jeevacation@gmail.com)" <jeevacation®gmail.corn>
CUSIP: 381427AA1
Paul Barrett I Managing Director I Global Investment Opportunities Group 13.P. Morgan Securities LLC I J.P. Morgan Private
Bank I J.P. Morgan Chase Bank N.A.
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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 counterpart)/
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Standardized Options" booklet, please contact your JPMorgan Advisor.
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I think we should consider buying the GS Cap II (381427AA1) @ 72.50 (-5.5% Current Yield).They recently
tendered $600MM at $75.00. We believe there is a chance that they come back and tender for more at $75477.
When a bank is able to redeem pfds at a discount, that discount accrues to their Income Statement. There remains
$1.2 BLN outstanding - so they could issue another pfd to pay for the remaining $1.2B1n and book another
$300MM to income.
Paul
EFTA00828012
Paul Barrett Managing Director I Global Investment Opportunities Group I J.P. Morgan Securities LLC I J.P. Morgan Private
Bank J.P. Morgan Chase Bank N.A.
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 your J.P. 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, N.A., 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
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
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EFTA00828013