EFTA01740767.pdf

From: "Barrett. Paul S" To: Jeffrey Epstein leeyacation mail.com> Cc: "Giuffrida, David J' Sent: Monday, November .• .• Subject: FW: DPW We can do a TRS on $10MM out of the Dubai exchange. Paul Barrett, CFA Managing Director Global Investment Opportunities Group JPMorgan Private Bank 40W 57th Street, 33rd Floor New York, NY 10019 (F) From: Barrett, Paul S Sent: Monday, November 07, 2011 11:20 AM To: 'Jeffrey Epstein' Cc: Giuffrida, David 3; Ens, Amanda Subject: DPW Jeffrey The desk is looking into the possibility of a 1MM share total return swap on DPW. We are also doing a screen for the worst performing stocks in the Italian and Spanish indicies. I am sure there are some beaten down global names. A few other things: 1. GDX (gold miners) have underperformed gold by 20% this year as the market continues to forecast long term $1200 gold prices into the models. We disagree and think that central bank policy will likely be bullish for gold. More importantly Chinese and Indian retail demand remains extremely strong. a. 12 month GDX linked note; pays the greater of a 5% coupon or the upside of the index capped at 24%; 25% at maturity buffer on the downside. b. I think we should do $500K - $1MM of this. 2. We have $20MM in cash right now. Half of that was from the Harrah's note that matured. a. We should buy $1MM each of the AMD 8.125% 2017 ytm 7.15% (ytc 6.77%) b. And $1MM of the ACAS 7.96% 2013 ytm 7.32% (ytw 6.18%) Let me know. Paul EFTA_R1_00030290 EFTA01740767 Paul Barrett, CFA Managing Director Global Investment Opportunities Group JPMorgan Private Bank 4OW 57th Street, 33rd Floor, New York, NY 10019 (W) (F) This email is confidential and subject to important disclaimers and conditions including on offers for the purchase or sale of securities, accuracy and completeness of information, viruses, confidentiality, legal privilege, and legal entity disclaimers, available at http://www.jpmorgan.com/pages/disclosures/email. EFTA_R1_00030291 EFTA01740768