EFTA02470235.pdf

From: jeffrey E. <jeevacation@gmail.com> Sent: Tuesday, March 8, 2016 4:13 PM To: Richard Kahn Subject: Re: New Issue $25 Par. AmTrust Financial Services (AFSI) Non-Cumulative Perpetual Preferred Stock; 7.75% - 7.875% Fixed for Life cash flow? On Tue, Mar 8, 2016 at 10:47 AM, Richard Kahn wrote: attached was sent from both Morgan =tanley and Wells Fargo please advise thank you Richard Kahn HBRK Associates Inc. New York, NY 10022 fax 646-350-0954 <tel:646-350-0954> Begin forwarded message: <=iv style="margin-top:0px;margin-right:0px;margin-bottom:0px;margin-left:=px">From: "Atla=, Andrew S" <Andrew.Atlas@morganstanley.com <mailto:Andrew.Atlas@morganstanley.com» Subject: New Issu= $25 Par: AmTrust Financial Services (AFSI) Non-Cumulative Perpetual Prefe=red Stock; 7.75% - 7.875% Fixed for Life Date: March 8, 2016 at 10:13=33 AM EST To: qspan>"Richard Kahn a" Good Morning Rich, EFTA_R1_01581122 EFTA02470235 Want to show SIC another new i=sue preferred that Morgan Stanley is pricing today. Details: $25 Par New Issue Syndi=ate Offering: AmTrust Financial Services (AFSI)</=> 40=A0 =C240 Issuer: Q=A0 AmTrust Financial Servi=es (Ticker: AFSI) =C24 Q=A0 Securities Offered: 4>=A0 Depositary Shares, Each Representing 1/40th of a Share of _% Non- =umulative Preferred Stock, Series E. =C* 40=A0 Size: =C240 $7=mm (3mm $25 par shares) =C* 40=A0 Expected Ratings: =C* Am Best bb+ Maturity: 40=A0 =C* Perpetua= 4,>=A0 =C240 Price Talk: =C* 4ii=A0 7.75% - 7.875% =C* 4>=A0 Offer Price: =C* 4>=A0 $25.00 =C* 4)=A0 Dividends: =C* Q=A0 Payable when, as and if declared on the 15th of March= June, September and December beginning on 6/15/16, Fixed for life =C* 4,>=A0 =C* 40=A0 Optional Redemption: Callable at par on or after 3/xx/=021 =C2. 40=t1/40 2 EFTA_R1_01581123 EFTA02470236 Use of Proceeds: =C2* General corporate purposes, which may includ= working capital, capital expenditures and/or strategic acquisitions =C24> 4>=A0 DRD/QDI Eligible: =C24, Yes, See Red for tax and withholding details Sub=ect to US Tax Withholding for NRA Clients: =C2* 4)=.40 =Yes* =C2* 40=A0 Expected Listing: =C24> NYSE Timing: 4>=A0 =C240 Today'= Business Speak soon, Andrew<=u> Andrew S. Atlas First Vice President Equi=y Sales/Middle Markets Group Financial Advisor Morgan Stanley=Wealth Management 1290 Avenue of the Americas, 12th Floor I New York, NY 10104 <tel:%2B1%20212%20705%2045=2> =span style="font-size:9.0ptcolor:#595959">NMLS ID U 1326736 Important Notice to Recipients: Fax: +1 212 705 4592 3 EFTA_R1_01581124 EFTA02470237 Please do not use e-mail to request, authorize or effect the purchase or sale of any security=or commodity. Unfortunately, we cannot execute such instructions provided in=20 e-mail. Thank you. The sender of this e-mail is an employee of=20 Morgan Stanley Smith Barney LLC ("Morgan Stanley"). If you =ave received this communication in error, please destroy all electronic and paper copies=and notify the sender immediately. Erroneous transmission is not intended to wa=ve confidentiality or privilege. Morgan Stanley reserves the right, to t=e extent permitted under applicable law, to monitor electronic communications= This message is subject to terms available at the following link: http://www.morganstanley.com/disclaimers/mssbemail.html..=A0 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 the=20 foregoing. =C2. please note The information contained in this communication =s confidential, may be attorney-client privileged, may constitute in=ide information, and is intended only for the use of the addressee. It =s the property of JEE Unauthorized use, disclosure or copying of thi= communication or any part thereof is strictly prohibited and may be=unlawful. If you have received this communication in error, please noti=y us immediately by return e-mail or by e-mail to jeevacation@gmail.com <mailto:jee=acation@gmail.com> , and des=roy this communication and all copies thereof, including all attachment=. copyright -all rights reserved 4 EFTA_R1_01581125 EFTA02470238