EFTA02675429.pdf

From: Richard Kahn Sent: Thursday, May 28, 2015 2:33 PM To: jeffrey E. Subject: Fwd: New Issue $25 Par: J.P. Morgan Chase & Co. (JPM) Perpetual Preferred Stock; 6.25% area; Fixed-for-Life Attachments: JPM Preliminary Prospectus dated May 28, 2015.pdf; Untitled attachment 00561.htm please advise if you are interested and if so what amount cash in MS account = 2,000,000 thank you JPM Exposure as of 5-28-2015 Purchase Quantity 3/31/15 4/30/15 Unrealized Asset =escription Date Cost Value Value Gain (Loss) Haze Trust - =ixed Income JP Morgan =hase 7.9% Pfd 4/30/2049 05/10/11 3,000,000 3,337,958 3,327,500 3,195,000 -142,958 Southern =inancial LLC - Fixed Income JP Morgan =hase & Co Pfd 7.9% April 30 2049 6/15/11 2,500,000 2,687,500 2,772,917 2,662,500 -25,000 JP Morgan =hase & Co Pfd 7.9% April 30 2049 6/15/11 2,500,000 2,675,000 2,772,917 2,662,500 -12,500 Total JPM =referred - Fixed Income 8,700,458 8,873,333 8,520,000 -180,458 Richard Kahn HBRK Associates Inc. 575 Lexington =venue 4th Floor New York, NY 10022 Begin forwarded message: From: =/b>"Atlas, Andr To: =/b>"Richard Kahn ( EFTA_R1_01962003 EFTA02675429  Subject: =/b>New Issue $25 =ar: J.P. Morgan Chase & Co. (JPM) Perpetual Preferred Stock; 6.25% =tea; Fixed- for-Life Date: =/b>May 28, 2015 at 9:53:27 AM =DT Morning Rich, Here is a new issue =25 Par JPM Preferred that's coming today. The offering is =OT Fixed-to-Float but price talk is in the 6.25% area: Issuer: J.P. =organ Chase & Co. (Ticker: JPM) Securities Offered: Depositary Shares Each =epresenting a 1/400th Interest in a Share of _% Non-Cumulative =erpetual Preferred Stock, Series AA =nbsp; &n=sp; Size: $400mm (16mm =hares) Expected =atings: Bal / BBB- / BBB- (stable/neg/stable) Format: SEC Registered Maturity: Perpetual Price Talk: 6.25% =rea; Fixed-for-Life Offer=Price: $25 per depositary share Dividends: When, as, and if declared, =ividends will accrue and be payable quarterly in arrears, on March 1st, =une 1st, Sept. 1st, and Dec.lst beginning September 1st, =015 &nbs=; Optional =edemption: Subject to regulatory approval, (1) in whole or in =art, from time to time, on any dividend payment date on or after June =5, 2020 at Par plus any declared and unpaid dividends, or (2) in whole =ut not in part, at any time within 90 days following a regulatory capital treatment =vent (see Prospectus), at Par plus any declared and unpaid =ividends. 2 EFTA_R1_01962004 EFTA02675430 Use of Proceeds: =CP (see Prospectus) DRD/QDI Eligible: Yes (see Prospectus) Subject to US Tax =ithholding for NRA Clients: Yes* Listing: NYSE Expected Timing: Today's =usiness Please let me know if =ou have any interest. Best, Andrew Andrew S. Atlas Financial =dvisor Equity Sales/Middle Markets Group Morgan Stanley Wealth Management Midtown Manhattan =omplex 1290 Avenue of the =mericas, 12th Floor I New York, =Y 10104 Important Notice to Recipients: 3 EFTA_R1_01962005 EFTA02675431  Please do not use e-mail to request, authorize or effect the purchase or sale of any =ecurity or commodity. Unfortunately, we cannot execute such instructions provided =n e-mail. Thank you. The sender of this =-mail is an employee of Morgan Stanley Smith Barney LLC ("Morgan Stanley"). If you have =eceived this communication in error, please destroy all electronic and paper =opies and notify the sender immediately. Erroneous transmission is not intended to =aive confidentiality or privilege. Morgan Stanley reserves the right, =o the extent permitted under applicable law, to monitor electronic =ommunications. This message is subject to terms available at the following link: http://www.morganstanley.com/disclaimers/mssbemail.html.&nb=p; If you cannot access this link, please notify us by reply message and we will send the =contents to you. By messaging with Morgan Stanley you consent to =he foregoing. 4 EFTA_R1_01962006 EFTA02675432