EFTA02391904.pdf

From: Richard Kahn Sent: Thursday, Marc To: jeffrey E. Subject: Fwd: AFSI Pfd another preferred offering if you are interested.. please advise Richard Kahn HBRK Associates Inc. 575 Lexington =venue 4th Floor New York, NY 10022 Begin forwarded message: From: =/b>"Atlas, Andrew S" To: =/b>"Richard Kahn ([email protected])" < Subject: =/b>AFSI Pfd Date: =/b>March 12, 2015 at 10:23:20 AM =DT Rich, Busy day in new issue =fds. Also pricing a $25 par preferred: $25 Par New Issue Syndicate Offering: AmTrust Financial =ervices (AFSI) =nbsp; &n=sp; EFTA_R1_01418370 EFTA02391904  Issuer: = AmTrust =inancial Services (Ticker: AFSI) =nbsp; &n=sp; Securities =ffered: =nbsp; &n=sp; Depositary Shares, Each Representing 1/40th of a Share of _% =on- Cumulative Preferred Stock, Series D =nbsp; &n=sp; Size: &=bsp; &nb=p; $75mm (3mm $25 par shares) =nbsp; &n=sp; Expected =atings: =nbsp; &n=sp; NR/NR Maturity: &nb=p; = Perpetual =nbsp; &n=sp; Price =alk: &nb=p; = 7.50% - 7.625% =nbsp; &n=sp; Offer =rice: &n=sp; &nbs=; $25 per depositary share =nbsp; &n=sp; Dividends: =nbsp; &n=sp; &nbs=; Payable when, as and if declared on the 15th of March, June, =eptember and December beginning on 6/15/15, Fixed for =ife &nbs=; =nbsp; &n=sp; Optional =edemption: &nb=p; Callable at par on or =fter 3/xx/2020 =nbsp; &n=sp; Use of =roceeds: &=bsp; General corporate purposes, which may =nclude working capital, capital expenditures and/or strategic =cquisitions =nbsp; &n=sp; DRD/QDI =ligible: &=bsp; Yes, See Red for tax and withholding =etails Listing: &nbs=; NYSE =xpected Timing: = Today's =usiness =nbsp; &n=sp; Speak soon, 2 EFTA_R1_01418371 EFTA02391905  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: 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. 3 EFTA_R1_01418372 EFTA02391906