EFTA02401500.pdf

From: Barrett, Paul S Sent: Thursday, June 7, 2012 3:50 PM To: Jeffrey Epstein Cc: Giuffrida, David Subject: RE: SP500 and Apple Notes Paul Barrett, CFA=/o:p> Managing Director Global Investment Opportunities Group</=:p> JPMorgan Private Bank From: Barrett, Paul S Sent: Wednesday, June 06, 2012 1=:28 AM To: 'Jeffrey Epstein' Cc: Giuffrida= David J Subject: SP500 and Apple Notes<=p> </=> 12M SPX CBEN 1. 80% barrier (at expiry), 5% contingent coupon, 14.=5% cap — UBS 2. = 72.5% barrier (daily=close), 10% contingent coupon, 10% Cap — DB =OA 3. &n=sp; 80% barrier (daily close), 15% contingent coupon, 15% cap — JPW=:p> EFTA_R1_01438061 EFTA02401500 320 Park Avenue, 14th Floor, New York, NY 10022 =OA NMLS 101$ 853441 </=iv> </=:p> <=>From: Giuffrida, David J =OD Sent: Wednesday, June 06, 2012 9:58 AM To: Jef=rey Epstein Cc: Barrett, Paul S Subject: r=freshed Brent pricing class="MsoNormal"> Jeffrey, =span style="font-size:11.0ptfont-family:"Calibri","san=-serif"">Refreshed Brent upside ideas below. Will send equity=upside ideas shortly. =b> * </=pan>sell 92 puts that only knocks in @ 65 =at expiry observation) [6.7%OTM on strike, 34%OTM on @ expiry KIJ=io:p> You receive=$0.20/bbl ($50,00 on 250,000 barrels) =OA From: Giuffrida, David J =b>Sent: Thursday, May 31, 2012 3:40 PM To: 'Jeffrey Ep=tein' Cc: Barrett, Paul S 2 EFTA_R1_01438062 EFTA02401501 Subject: refresh=d pricing • =nbsp; buy 120 call sell 80 put =OD You receive $0.04/bbl ($10=000 on 250,000 barrels) =div style="border:none;border-top:solid #BSC4DF 1.0pt;padding:3.0pt =in Oin Oin"> =/o:p> From: Giuffrida, David.' Sent: Thurs=ay, May 31, 2012 1:49 PM To: Jeffrey Epstein C=: Barrett, Paul S Subject: Brent pricing Jeffrey, </=pan> Bullish Brent ri=k reversals December 2012 contract (12Nov2012 expiry)<=:p> 100.95 f=tures reference 250,000 barrels (double current position size on the September contr=ct) =middot; &nbs=; =span style="font-size:11.0ptfont-family:"Calibri","san=-serif"">buy 120 call </=pan>sell 80 put =OA Net cost $0.03/bbl ($7,50= on 250,000 barrels) 3 EFTA_R1_01438063 EFTA02401502 This compares to cost of $0.24/bbl on the futures opti=ns ($60,000) =span style="font-size:11.0pt;font-family:"Calibri","san=-serir">Paul had to step off for Jury duty. Please let me kn=w if you have any questions and I'll call you. David J. Giuffrida J.P. Morgan I Global Investmen= Opportunities Group 320 Park Avenue, 14th Floor </=> New York, NY 10022<=:p> This email is confidential and subject to important =isclaimers and conditions including on offers for the purchase or sale of =ecurities, accuracy and completeness of information, viruses, confidential=ty, legal privilege, and legal entity disclaimers, available at http://www=2Ejpmorgan.com/pages/disclosures/email. 4 EFTA_R1_01438064 EFTA02401503