From: Barrett, Paul S <paul.s.barrett@jpmorgan.com>
Sent: Thursday, January 12, 2012 6:10 PM
To: Jeffrey Epstein
Cc: Giuffrida, David
Subject: To Do

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=i Jeffrey

We=should add $1MM to our ACAS 7.96% bond position. Right now we own $1MM=and up slightly ($25K). We like the bond and think there is a chance it =ets called in August which would give us a 4.15% yield. If not t=e ytw is 6.85%.

Let me know.

Paul

&nb=p;
Paul Barrett, CFA
Managing Director
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Global Investment Opportunities Group
JPMorgan Private Bank
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320 Park Avenue, 14th Floor, New York, NY 10022</=:p>
212-622-2770 (W)  (F)
NMLS ID# 853441=/o:p>

paul.s.barrett@jpmorgan=2Ecom <mailto:paul.s.bar=ett@jpmorgan.com>

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