From: Jeffrey Epstein <jeevacation@gmail.com>
Sent: Monday, May 21, 2012 7:32 PM
To: █████████████████████

1 year (252 business day) Accumul=tor on Air Lease

Spot reference $555

knocks out @ 110% ($610.50)

83.40% strike ($462.87)

• If knocked out (daily observation), you a=e guaranteed to buy 8 week's worth of AAPL @ 83.4% ($462.87) of your ref=rence.

* For everyday that AAPL trades between $462.87 and $610.50, you continue to buy shares @ $462.847/share. You size your notional so if you accumulate shares everyday for 1 year, you wind up with a total cost basis of that $ notional.

* Every day that AAPL trades below 462.87, you buy twice as many shares of AAPL @ $462.87/share. I.E If AAPL immediately trades down below 462.87 and=20 stays below $462.87 for the whole year; you will ultimately have twice the notional.

*******

The information contained i= this communication is confidential, may be attorney-client privileged =may constitute inside information, and is intended only for the use of the a=dressee. It is the property of Jeffrey Epstein Unauthorized use, di=closure or copying of this communication or any part thereof is strictl= prohibited and may be unlawful. If you have received this communication in error, p=ease notify us immediately by return e-mail or by e-mail to jeevacation@gmail.com, =nd destroy this communication and all copies thereof, including all attachm=nts. copyright -all rights reserved