EFTA01138471.pdf

From: Richard Kahn •c ille To: "Jeffrey E." [email protected]> Subject: Fwd: GE Preferred Date: Fri, 15 Jan 2016 21:32:00 +0000 Inline-Images: image001.gif; image002.gif; image004.png; image005.gif; image006.gif: itnage007.png now am told we have until 7pm tonight on preferred exchange for GE discussed yesterday Ari said most clients have proceeded with exchange please advise thank you Richard Kahn IIBRK Associates Inc. 575 Lexington Avenue 4th Floor New York• NY 10022 tel fax cel Begin forwarded message: From: Ariane Dwyer Subject: GE Bond Date: January 15, 2016 at 4:23:28 PM EST To: Richard Kahn Cc: Daniel Sabba < , Vahe Stepanian , Paul Morris a, Stewart Oldfield Hi Rich, The deadline for the GE preferred exchange is today at 7pm. Please let us know if you would like to proceed with the exchange ASAP. Best, Ari Mane Dwyer Anelyal I Key client Partnere Dcutsclie Bank Sauntlos Inc Deutsche Asset 8 Weeilh lAariagernen 246 Park Avenue. 26 Nee 1.11.11/004 Tel • Email PassitatfrPei-form This communication may contain confidential and/or privileged information. If you are not the intended recipient (or have received this communication in error) please notify the sender immediately and destroy this communication. My unauthorized copying, disclosure or distribution of the material in this communication is strictly forbidden. Deutsche Bank does not render legal or tax advice, and the information contained in this communication should not be regarded as such. Begin forwarded message: From: Richard Kahn Subject: GE Preferred Date: January 15, 2016 at 3:43:16 PM EST EFTA01138471 To: "Jeffrey E.' [email protected]> i understand we were not filled on our order of 100.5 and today at 4pm is cutoff for voluntary exchange GE is offering us to exchange our 4% fixed to float with a 5% fixed to float plus a cash payment of 10.00 per share per share of preferred stock we currently own 2,469 shares x 10 — 24,690 cash payment plus new 5% preferred please advise if we should proceed with exchange thank you Richard Kahn liBRK Associates Inc. 575 Lexington Avenue 4th Floor New York. NY 10022 tel cel Begin forwarded message: From: Mane Dwyer alMi l> Subject: RE: Follow up to this morning's call Date: January 12, 2016 at 1:29:30 PM EST To: Richard Kahn Cc: Vahe Stepanian , Daniel Sabba < > Hi Rich, I found this in the text outlining the corporate action. I think it clarifies the voluntary exchange. GENERAL OFFER TERMS: GENERAL ELECTRIC COMPANY IS OFFERING TO EXCHANGE ANY AND AU. OF THE ABOVE OUTSTANDING SHARES (THE 'OLD PREFERRED STOCK') FOR THEIR NEWLY ISSUED 5.00 PERCENT FIXED-TO-FLOATING RATE NON-CUMULATIVE PERPETUAL PREFERRED STOCK SERIES D (THE 'NEW PREFERRED STOCK') AT AN EXCHANGE CONSIDERATION DESCRIBED BELOW. EXCHANGE CONSIDERATION: FOR EACH SHARE OF THE ABOVE OLD PREFERRED STOCK VALIDLY TENDERED (AND NOT VALIDLY WITHDRAWN) AND ACCEPTED IN THE EXCHANGE OFFER, HOLDERS WILL RECEIVE ONE SHARE OF NEW PREFERRED STOCK PLUS A CASH PAYMENT OF USD10.00 PER SHARE OF OLD PREFERRED STOCK EXCHANGED THE NEW PREFERRED STOCK WILL BE IDENTICAL TO THE OLD PREFERRED STOCK, EXCEPT THAT THE DIVIDEND RATES ON THE NEW PREFERRED STOCK WILL BE HIGHER, AND THE FIRST AVAILABLE REDEMPTION DATE WILL BE 01/21/21. The 'OLD PREFERRED STOCK' refers to the below position: GENERAL ELEC CO GM FxD.TO-FLTG RT NONCUMULATIVE 664317670 PERPETUAL PREFERRED 4.000%1103;65 REG DTD 1203/15 2,469,000.0000 2,501,41797 CORPORATE BOND 0.0 CLB 06/15/22 0103.000 Best, Ari From: Mane Dwyer Sent: Monday, January 11, 2016 8:47 AM To: Richard Kahn' Cc: Vahe Stepanian; Daniel Sabba Subject RE: Follow up to this morning's call Hi Rich, I hope all goes well with the doctor. When you have a minute could you please let us know how you would like to proceed with the below? The cut-off date is 1/15/16. Best, Ari From: Mane Dwyer Sent Thursday, January 07, 2016 12:35 PM To: Richard Kahn Cc: Vahe Stepanian Subject Follow up to this morning's call Hi Rich, EFTA01138472 I spoke with Pershing regarding the General Electric security exchange. They clarified that this was a mandatory exchange for holders of outstanding GE Preferred Stock. Please find details of the exchange in this article, under the sub-title "GE Preferred Stock" http://www.businesswire.com/news/home/20151201006722/en/ That being said, there is now an open voluntary action for the preferred stock, details below. Southern Financial owns 2,469,000 of these securities (approx. market value of S2A9mm) Please let us know how you would like to proceed. Best, Ari Mane Dwyer Anatol I Key CIS Palters Nino, Bank Secoritrys Inc Nino,Assel a west. Menegerneni 345 Part Arcntw. 26 How Erna PAnitrfrctryPerforn, Items For Attention . Voluntary Offer Details View Text Close Wallow Descnotion GENERAL ELEC CO GTO Symbol GE4317670 CUSIP 3696048MA Offer EXCHANGE Otter DeStnptIon OFFER BY GENERAL ELECTRIC CO. Subject To IRC 302 W1dhh01Ong NO Other Offers Available Offer Dates Cut-Off Date 01115/2016 Cut-Off Time W00.00 WilIKIrawal Date 01/15/2016 WiThdraval Time 12.00.00 ExPlatiOn Date 01/19/2016 ExPratIOn Thee 23.59.00 Protected Date Offer Details O0d Lot Over SubSCII0e mnmum Boa Maximum Bid Increments Multiplier FattCr • • FOREIGN RESTRICTIONS' THE PROSPECTUS DOES NOT CONSTITUTE AN OFFER TO BUY OR SELL OR A SOLICITATION OF AN OFFER TO BUY OR SELL EITHER OLD PREFERRED STOCK OR NEW PREFERRED STOCK IN ANY JURISDICTION IN WHICH, OR TO OR FROM ANY PERSON TO OR FROM IT IS UNLAWFUL TO MAKE SUCH OFFER OR SOLICITATION UNDER APPLICABLE SECURITIES LAWS OR OTHERWISE THE DISTRIBUTION OF THE PROSPECTUS IN CERTAIN JURISDICTIONS (INCLUDING. BUT NOT UIAITED TO, AUSTRALIA. BELGIUM. CANADA, THE EUROPEAN ECONOMIC AREA, FRANCE. ISRAEL. ITALY. POLAND. SWITZERLAND. AND THE UNITED KINGDOM) IIAY BE RESTRICTED BY LAW. PERSONS INTO WHOSE POSSESSION THE PROSPECTUS COMES ARE REOUIRED TO INFORM THEMSELVES ABOUT. AND TO OBSERVE. ANY SUCH RESTRICTIONS. • GENERAL OFFER TERMS, GENERAL ELECTRIC COMPANY IS OFFERING TO EXCHANGE ANY AND ALL OF THE ABOVE OUTSTANDING SNARES (THE 'OLD PREFERRED STOCK) FOR THEIR NEWLY ISSUED 500 PERCENT FIXED-TO-FLOATING RATE NON-CUMULATIVE PERPETUAL PREFERRED STOCK SERIES D (THE 'NEW PREFERRED STOCK) AT AN EXCHANGE CONSIDERATION DESCRIBED BELOW. • EXCHANGE CONSIDERATION. FOR EACH SHARE OF THE ABOVE OLD PREFERRED STOCK VALIDLY TENDERED (AND NOT VALIDLY WITHDRAWN) AND ACCEPTED IN THE EXCHANGE OFFER. HOLDERS WILL RECEIVE ONE SHARE OF NEW PREFERRED STOCK PLUS A CASH PAYMENT OF USDIO CO PER SHARE OF OLD PREFERRED STOCK EXCHANGED. • THE NEW PREFERRED STOCK WILL BE IDENTICAL TO THE OLD PREFERRED STOCK. EXCEPT THAT THE DIVIDEND RATES ON THE NEW PREFERRED STOCK WILL BE HIGHER, AND THE FIRST AVAILABLE REDEMPTION DATE WILL BE 01/21/21 • REDEMPTION. GENERAL ELECTRIC MAY REDEEM ANY OF THE NEW PREFERRED STOCK AT THEIR OPTION. TO THE EXTEND OF LAWFULLY AVAILABLE FUNDS. IN WHOLE OR IN PART. FROM TIME TO TIME. ON ANY DIVIDEND PAYMENT DATE ON OR AFTER 01121/21. AT A REDEMPTION PRICE EQUAL TO USD1.000 PER SHARE. PLUS ANY DECLARED AND UNPAID DrviDENDS TO, BUT NOT INCLUDING, THE REDEMPTION DATE OF THE NEW PREFERRED STOCK - EACH SHARE OF THE OLD PREFERRED STOCK HAS A LIQUIDATION PREFERENCE OF USD1.000 PER SHARE. AS A RESULT. ALL INSTRUCTIONS MUST BE MADE IN DENOMINATIONS OF USD1,000 AND MULTIPLES OF USDI,000 IN EXCESS THEREOF. • NOTE. PARTICIPATING HOLDERS TENDERING OLD PREFERRED STOCK THAT IS ACCEPTED IN THE OFFER WILL RECEIVE A CASH PAYMENT EOUNALENT TO A DIVIDEND ACCRUING AT THE 5.00 PERCENT PER ANNUM FIXED OMDEND RATE OF THE NEW PREFERRED STOCK FROM 12115/21 TO THE COMPLETION OF THE EXCHANGE OFFER • A MAILING WILL BE MADE TO HOLDERS. PLEASE REVIEW THE OFFER DOCUMENT FOR FULL OFFER DETAILS. • ffIF YOU QUALIFY AND WISH TO PARTICIPATE IN THE EXCHANGE OFFER VIA IFA. SELECT 'POSITIONS' THEN ENTER INSTRUCTIONS UNDER 'OPTION UNDER THE EXCHANGE OFFER TO EXCHANGE VIA THE REOR SYSTEM USE OFFER CODE EXC. PLEASE NOTE THAT IN GENERAL TERMS. THE PAY DATE FOR VOLUNTARY CORPORATE ACTIONS IS 7-10 BUSINESS DAYS AFTER THE OFFER EXPIRES. ..MAFUSOL•• This communication may contain confidential and/or privileged information. If you are not the intended recipient (or have received this communication in error) please notify the sender immediately and destroy this communication. Any unauthorized copying, disclosure or distribution of the material in this communication is strictly forbidden. Deutsche Bank does not render legal or tax advice, and the information contained in this communication should not be regarded as such. EFTA01138473 EFTA01138474