EFTA02557388.pdf

From: Barrett, Paul S Sent: Wednesday, June 27, 2012 3:38 PM To: Jeffrey Epstein Cc: Giuffrida, David Subject: To Do Hi Jeffrey</=> =OD I think we should buy 2MM of th=se GE preferreds. They are trading cheap to their comps. We are lookin= for 2-3 points of upside. <=>1 =OD Can offe= 10mm of : =0Alssuer: GENERAL ELEC CAP CORP =p class="MsoNormal">Ticker: GE Ratings: Baal/AA- (expected) Ranking:=/span> =OD Fixed to floating rate non-cumul=tive pfd stock=/p> Coupon: 7.125 to 6/15/22; then 3mL+529.6 bps =OD Maturity:</=pan> =OD Perp EFTA_R1_01716440 EFTA02557388 =OD Price: =0A$105.75 =OD <=pan style="font-size:10.0pt;color:red">YTC: 6.34% =OA Cusip: Sector: =OD Relative Value: GE 4.65 SNR 10/21 @ 3.25% YTM (Pickup=over 300 bps to call) JPM 7.9 PFD @ 5.90% YTC <= class="MsoNormal">WFC 7.98 PFD @ 5.67% YTC PNC 6.75 PFD = @ 5.89% YTC SCHW 7 PFD @ 5.83% YTC USB 6.5 PFD @ 5.14% YTC GE 6.375 67 @ 5.56% YTC (L=#43;228.9bps backend) =span style="font-size:11.0pt;font-family:"Calibri","san=-serir"> =o:p> Paul Barrett, CFA<=o:p> Managing Director=/p> 2 EFTA_R1_01716441 EFTA02557389 Global Investment Opportunities Group JPMorgan Private Bank=/p> 320 Park Avenue, 14th Floor, New York, NY 10022=o:p> NMLS ID= 853441 =OD This email is confidential and subject to important dis=laimers and conditions including on offers for the purchase or sale of sec=rities, accuracy and completeness of information, viruses, confidentiality= legal privilege, and legal entity disclaimers, available at http://www.=pmorgan.com/pages/disclosures/email. 3 EFTA_R1_01716442 EFTA02557390