<table><tr><th>From:</th><th>Barrett, Paul S</th></tr><tr><td>Sent:</td><td>Tuesday, April 9, 2013 3:10 PM</td></tr><tr><td>To:</td><td>Epstein, Jeffrey eeevacation@gmail.com)</td></tr><tr><td>Cc:</td><td>Ens, Amanda</td></tr><tr><td>Subject:</td><td>Brent risk reversals</td></tr></table>

Jeffrey

Brent is down 10% since Feb. I priced up some long risk reversa=s for you.

## BULLISH BRENT OIL RISKIES

*&=bsp;      <=[endif]>Client buys brent oil call

* =nbsp;       Client sells brent oil put

< =:p>

Contract

Dec13

11=ov2013

102.75=/p>      85.00

=0A121.50

Cashless

Cashless

=0D

Let me know if you have interest.

<=p>

Paul

## BULLISH BRENT OIL RISKIES (cont.)

Paul=Barrett | Managing Director |=Global Investment Opportunities Group | J.P. Morgan Private Bank </=> |
320 Park A=enue, 14th Floor, New York, NY 10022 | T: ███████████ | F: █████████████
██████████████████████████████████████████████████ | NMLS ID# 853441

=0D

This email is confidential and sub=ect to important disclaimers and conditions including on offers for the pu=chase or sale of securities, accuracy and completeness of information, vir=ses, confidentiality, legal privilege, and legal entity disclaimers, avail=ble at http://www.jpmorgan.com/pages/disclosures/email.