EFTA02704859.pdf

From: Richard Kahn e > Sent: Thursday, March 10, 2016 4:13 PM To: jeffrey E. Subject: Fwd: New Issue $25 Par: KKR & Co. L.P. (KKR) Perpetual Preferred Stock; 6.75% Area; Fixed-for-Life Attachments: KKR & Co LP_Bookmarked PDF_Prel Pros Supp.pdf; Untitled attachment 00050.htm offered both from MS and Wells note preferred =s for KKR not the holding company (KFN) Richard Kahn HBRK Associates Inc. 575 =exington Avenue 4th Floor New York, NY 10022 Begin forwarded message: From: =/b>"Atlas, Andrew S" Subject: =/b>New Issue $25 =ar: KKR & Co. L.P. (KKR) Perpetual Preferred Stock; 6.75% Area; =ixed-for-Life Date: March 10, 2016 at 10:29:42 AM EST To: =/b>"Richard Kahn ( )" <[email protected]> Morning Rich, New issue preferred pricing today that I wanted to show you =nd STC. Details: $25 Par New Issue Syndicate Offering: KKR & Co. L.P. =Ticker: KKR) EFTA_R1_02093374 EFTA02704859  &nb=p; Issuer: &n=sp; KKR & Co. L.P. =Ticker: KKR) &nb=p; Securities =ffered: =nbsp; &n=sp; Series A Preferred Units &nb=p; Size: &nbs=; =150mm (6mm $25 par securities) &nb=p; Expected =atings: =nbsp; &n=sp; BBB+ S&P, BBB+ Fitch Format: &n=sp; &nbs=; SEC Registered Maturity: =nbsp; &n=sp; Perpetual &nb=p; Price =alk: &nb=p; = 6.75% Area; Fixed-for-Life &nb=p; Offer =rice: &n=sp; =25.00 &nb=p; Payment Dates: =nbsp; &n=sp; &nbs=; Quarterly, on the 15th March, June, September =nd December beginning 6/15/16 &nb=p; Redemption: &nbs=; At =he issuer's option, callable at $25.00 anytime on or after June =5, 2021 or before upon the occurrence of a Change of Control at $25.25 (see =ed for details). Upon the occurrence of = Change of Control, if not redeemed, the rate will increase by =.00% (see red for details). Step-up: &=bsp; &nb=p; Use of =roceeds: &=bsp; General corporate purposes, including to =und acquisitions and investments. 2 EFTA_R1_02093375 EFTA02704860  &nb=p; DRD/QDI =ligible: &=bsp; Not eligible; see red for further tax information. Subject to US Tax =ithholding for NRA =lients: =nbsp; &n=sp; K-1 will be issued, see below =or tax consequences. &nb=p; Expected =isting: =nbsp; &n=sp; NYSE Timing: &n=sp; &nbs=; Today's =usiness Let me know if you have any questions. Best, 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 I New York, =Y 10104 NMLS ID # =326736 3 EFTA_R1_02093376 EFTA02704861  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. 4 EFTA_R1_02093377 EFTA02704862