EFTA00685853.pdf

From: Richard Kahn To: Jeffrey Epstein <[email protected]> Subject: Fwd: New Issue $25 Par: Apollo Global Management, LLC (APO) Perpetual Preferred Stock; 6.375% - 6.50%; Fixed-for-Life Date: Tue, 28 Feb 2017 16:26:19 +0000 Attachments: 139666_003_web_bmk.pdf Richard Kahn HBRK Associates Inc. 575 Lexington Avenue, 4th Floor New York NY 10022 Phone Fax Cell Begin forwarded message: From: "Atlas, Andrew S" Date: February 28, 2017 at 11:18:42 AM EST To: "Richard Kahn ( " Subject: New Issue $25 Par: Apollo Global Management, LLC (APO) Perpetual Preferred Stock; 6.375% - 6.50%; Fixed-for-Life Hi Rich, I hope all is well. Morgan Stanley is pricing an Apollo Global new issue $25 par preferred today. Expected ratings are BBB+ / BBB and price talk is 6.375% - 6.50%. Here are details: $25 Par New Issue Syndicate Offering: Apollo Global Management, LLC (APO) Issuer: Apollo Global Management, LLC (Ticker: APO) Securities Offered: Series A Preferred Shares Size: $150mm (6mm $25 par securities) Expected Ratings: BBB+ / BBB (S&P / Fitch) Format: SEC Registered Maturity: Perpetual Price Guidance: 6.375% - 6.50% (fixed-for-life) Offer Price: $25 per security EFTA00685853 Payment Dates: Quarterly, on March 15, June 15, September 15 and December 15 beginning June 15, 2017. Distributions are non-cumulative. Redemption: At the issuer's option, callable at $25.00 anytime on or after March 15, 2022 or before upon the occurrence of a Change of Control Event at $25.25 (see red for details). Tax Redemption Event: If a Tax Redemption Event (as defined under "Description of the Series A Preferred Shares —Tax Redemption Event") occurs prior to March 15, 2022, we may, at our option, redeem the Series A Preferred Shares, in whole but not in part, upon at least 30 days' notice, within 60 days of the occurrence of such Tax Redemption Event, at a price of $25.25 per Series A Preferred Share, plus declared and unpaid distributions to, but excluding, the redemption date, without payment of any undeclared distributions. Step-up: Upon the occurrence of a Change of Control Event, if not redeemed, the rate will increase by 5.00% (see red for details) Use of Proceeds: General Corporate Purposes, including to Fund acquisitions and investments. QDI & DRD: Not eligible Subject to US Tax Withholding for NRA Clients: See Prospectus for Tax and Withholding Details* K1 and UBTI: K1 will be issued. See Prospectus for K1 and UBTI information. Listing: NYSE Expected Timing: Today's Business Let me know if you have any questions. Thanks again, Andrew Andrew S. Atlas First Vice President Equity Sales/Middle Markets Group Financial Advisor Morgan Stanley Wealth Management 1290 Avenue of the Americas, 12th Floor I New York, NY 10104 Tel/DireCt: I Fax NMLS ID tt 1326736 NOTICE: Morgan Stanley is not acting as a municipal advisor and the opinions or views contained herein are not intended to be. and do not constitute. advice within the meaning of Section 975 of the Dodd-Frank Wall Street Reform and Consumer Protection Act. If you have received this communication in error. please destroy all electronic and paper copies and notify the sender immediately. Mistransmission is not intended to waive confidentiality or privilege. Morgan Stanley reserves the right. to the extent permitted under applicable law, to monitor electronic communications. This message is subject to terms available at the following link: httpliwinv.morganstanley.cornidisclaimers It you cannot access these links. please notify us by reply message and we will send the contents to you. By communicating with Morgan Stanley you consent to the foregoing and to the voice recording of conversations with personnel of Morgan Stanley. EFTA00685854