EFTA01384442.pdf

From: Vahe Stepanian Sent: 6/29/2016 8:23:57 AM To: Stewart Oldfield CC: Daniel Sabba ; Andrew King Subject RE: Southern Financial - IA Request II) Classification: For Internal use only Stew, Please see below from the Global Markets team - take a look and let us know if you have questions. We will send to Rich Kahn shortly. Thank you, Vahe Following a lot of analysis, we can't do this swap on the basket as it isn't operationally feasible, however, this can be done as a series of single name total returns swaps. For the client to purchase 1-year swaps with bilateral break rights at any time, we can offer: lmL+150bps (Yellow highlighted names) 1m1+140bps (Green highlighted names) Given the bid/ask and liquidity profile of these names getting into and out of these is going to be a challenge, thus we would suggest that we trade into these at about 15-20% adv until complete, which could take several days. Preferred Equity Information Issuer Name Preferred Equity Symbol Cusip BB&T CORPORATION bbt h pfd 54937875 CAPITAL ONE FINANCIAL CO cof d pfd 14040H709 CAPITAL ONE FINANCIAL CO cof f pfd 14040H881 CHARLES SCHWAB CORP schw c Pfd 808513402 CHARLES SCHWAB CORP schw d Pfd 808513600 DIGITAL REALTY TRUST INC DIr g Pfd 253868889 DTE ENERGY CO dtj pfd 233331800 EBAY INC ebayl Pfd 278642202 GENERAL ELECTRIC CO gek pfd 369622394 JPMORGAN CHASE & CO JPM f Pfd 48127R461 JPMORGAN CHASE & CO JPM h Pfd 48127V827 KKR KRPPP pfd 48248M300 NEXTERA ENERGY CAPITAL nee j Pfd 653391(886 NEXTERA ENERGY CAPITAL nee k Pfd 65339K100 PITNEY BOWES PBI B pfd 724479506 PUBLIC STORAGE psa b pfd 74460W776 CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0084626 CONFIDENTIAL SDNY_GM_00230810 EFTA01384442