EFTA01857565.pdf

To: Barrett, Paul S From: Jeffrey Epstein Sent Fri 10/7/2011 1:47:14 PM Subject Re: Tax Loss Switches ok .. you and 1 need to see each other„ the performance speaks for itself. On Fri, Oct 7, 2011 at 3:46 PM, Barrett, Paul S <E > wrote: Jeffrey Let me know if you would like to do this switch. Paul Paul Barrett, CFA Managing Director Global Investment Opportunities Group JPMorgan Private Bank 40W 57th Street, 33rd Floor, New York, NY 10019 (W) (F) From: Barrett, Paul S Sent: Thursday. October 06. 2011 11:36 AM To: 'Jeffrey Epstein' Cc: Giuffrida, David J Subject: Tax Loss Switches Jeffrey EFTA_R1_00255502 EFTA01857565 We own $6MM (in FT and Haze) of the BAC 8.125% 2049. Currently trading around 80. You could realize the loss and buy the BAC 8% 2049 with similar call/floating features. Sec below: SELL ISSUER: BANK OF AMERICA CORP TICKER: BAC 8.125 12/29/49 PRICE: 79.50 YIELD TO CALL 12.82% CURRENT YIELD: 10.22% CUSIP: 060505DT8 BUY ISSUER: BANK OF AMERICA CORP TICKER: BAC 8.000 12/29/49 YIELD TO CALL 12.57% CURRENT YIELD: 9.94% CUSIP: 060505DT8 I would also like to propose that we switch out of GM into a basket of cyclical names that have been beaten down lately (FCX, HAL, FDX). When you have time I would like to walk you through the rationale. Paul Paul Barrett, CFA Managing Director Global Investment Opportunities Group EFTA_R1_00255503 EFTA01857566 JPMorgan Private Bank 40W 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.jumorgan.com/pages/disclosures/email. The information contained in this communication is confidential, may be attorney-client privileged, may constitute inside information, and is intended only for the use of the addressee. It is the property of Jeffrey Epstein Unauthorized use, disclosure or copying of this communication or any part thereof is strictly prohibited and may be unlawful. If you have received this communication in error, please notify us immediately by return e-mail or by e-mail to [email protected], and destroy this communication and all copies thereof, including all attachments. copyright -all rights reserved EFTA_R1_00255504 EFTA01857567