From: Barrett, Paul S >
Sent: Friday, October
To: Jeffrey Epstein
Cc: Giuffrida, David 1
Subject: RE: Tax Loss Switches
Jeffrey
ao:p>
Let me know if you would like=to do this switch.
Paul
Paul Barret
Managing Director
From: =arrett, Paul S
Sent: Thursday, October 06, 2011 11:36 AM
=o: 'Jeffrey Epstein'
Cc: Giuffrida, David J
Subject:</=> Tax Loss Switches
=o:p>
Jeffrey
We own $6MM (in FT and =aze) of the BAC 8.125% 2049. Currently trading around 80. You could =ealize the loss and
buy the BAC 8% 2049 with similar call/floating feature=. See below:
EFTA_R1_00087302
EFTA01774070
SELL
ISSUER: &n=sp; BANK OF AMERICA CORP
TICKER: &n=sp; &n=sp; BAC 8.125 12/29/49
PRICE:&nb=p; =nbsp; &nb=p; 79.50
YIELD TO CALL &nb=p; =12.82%
CURRENT YIELD: =nbsp; 10=2E22%
CUSIP: &nb=p; =nbsp; &nb=p; 060505DT8
BUY
ISSUER: &=bsp; &nbs=; BANK O= AMERICA CORP
TICKER: &nbs=; &=bsp; &nbs=; BAC 8.000 12/29/49
YIELD TO CALL &=bsp; 12.57%</=:p>
CURRENT YIELD: &nbs=; 9.94%=/span>
CUSIP: &n=sp; &n=sp; 060505DT8
I would also like to propose that we switch out=of GM into a basket of cyclical names that have been beaten down lately
(F=X, HAL, FDX). When you have time I would like to walk you through the ra=ionale.
Paul
Paul Barret=
2
EFTA_R1_00087303
EFTA01774071
=OD
Thi= email is confidential and subject to important disclaimers and conditions=including on offers for the purchase or
sale of securities, accuracy and c=mpleteness of information, viruses, confidentiality, legal privilege, and =egal entity
disclaimers, available at http://www.jpmorgan.com/pages/di=closures/email.
3
EFTA_R1_00087304
EFTA01774072