EFTA02703886.pdf

From: Richard Kahn Sent: Tuesday, March 8, 2016 3:47 PM To: jeffrey E. Subject: Fwd: New Issue $25 Par: AmTrust Financial Services (AFSI) Non-Cumulative Perpetual Preferred Stock; 7.75% - 7.875% Fixed for Life Attachments: Bannerless E-red (3.8.16).pdt Untitled attachment 00191.htm attached was sent from both Morgan Stanley and Wells =argo please advise thank =ou Richard Kahn HBRK Associates Inc. 575 Lexington =venue 4th Floor New York, NY 10022 Begin forwarded message: From: =/b>"Atlas, Andrew 5" Subject: =/b>New Issue $25 =ar: AmTrust Financial Services (AFSI) Non-Cumulative Perpetual =referred Stock; 7.75% - 7.875% Fixed for Life Date: =/b>March 8, 2016 at 10:13:33 AM =ST To: =/b>"Richard Kahn Good Morning Rich, Want to show SIC another new issue preferred that Morgan =tanley is pricing today. Details: $25 Par New Issue =yndicate Offering: EFTA_R1_02085845 EFTA02703886  AmTrust Financial Services (AFSI) &nb=p; Issuer: &n=sp; AmTrust Financial =ervices (Ticker: AFSI) &nb=p; Securities =ffered: Depositary =hares, Each Representing 1/40th of a Share of _% Non-Cumulative =referred Stock, Series E. &nb=p; Size: &nbs=; =75mm (3mm $25 par shares) &nb=p; Expected =atings: =mBest bb+ Maturity: =nbsp; &n=sp; Perpetual &nb=p; Price =alk: &nb=p; = 7.75% - 7.875% &nb=p; Offer =rice: &n=sp; =25.00 &nb=p; Dividends: =nbsp; &n=sp; =ayable when, as and if declared on the 15th of March, June, September =nd December beginning on 6/15/16, Fixed for =ife &nbs=; &nb=p; Optional =edemption: Callable at par on or after 3/xx/2021 &nb=p; Use of =roceeds: = General corporate purposes, which may include working capital, =apital expenditures and/or strategic acquisitions &nb=p; DRD/QDI =ligible: Yes, See =ed for tax and withholding details Subject to US Tax Withholding for NRA =lients: =nbsp; &n=sp; Yes" &nb=p; 2 EFTA_R1_02085846 EFTA02703887  Expected =isting: =NYSE Timing: &n=sp; &nbs=; Today's =usiness Speak soon, Andrew Andrew S. Atlas First Vice President Equity Sales/Middle Markets Group Financial Advisor Morgan Stanley Wealth Management 1290 Avenue of the =mericas, 12th Floor New York, =Y 10104 Tel/Direct: NMLS ID # =326736 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_02085847 EFTA02703888 4 EFTA_R1_02085848 EFTA02703889