EFTA02007230

To: jeevacation ' ' ' om]; Jeffrey epstein[Jeevacation@gmaitcom] Cc: Ens, Amand From: Barrett, Paul Sent Tue 10/9/2012 7:22:15 PM Subject: RE: Venezuela Correct Both NY law. a) The 2017N issued bond; 8.50% coupon; sinking fund (payable over 2015, 2016, 2017); $6BLN issue size; 12.30% yield b) The other one has a coupon of 5.25% matures Apr 2017. $3.5BLN issue size; 12.00% We like (a) Paul Barrett, CFA Managing Director Global Investment Opportunities Group JPMorgan Private Bank 320 Park Avenue, 14th Floor, New York, NY 10022 EFTA_R1_00506962 EFTA02007230 From: jeffrey epstein [mailto:[email protected]] Sent: Tuesday, October 09, 2012 1:25 PM To: Barrett, Paul Subject: Re: Venezuela There arc two 2017 Sent from my iPad On Oct 9, 2012, at 4:34 PM, "Barrett, Paul S Hi Jeffrey ote: Given that we expected a Chavez win, I am a little surprised that the bonds are trading down 3 points (around 4%). There has been some noise out of Argentina where a local province repaid a coupon on a bond in ARS when it should be in USD. So this is putting pressure on the region. I think this is an interesting level to buy the PDVSA 2017 bond. Currently yielding 12.20%. Passive play on oil. Would do $1.5mm. Let me know Paul EFTA_R1_00506963 EFTA02007231 Paul Barrett, CFA Managing Director Global Investment Opportunities Group JPMorgan Private Bank 320 Park Avenue, 14th Floor, New York, NY 10022 This email is confidential and subject to On/sonata disclaimers and conditions including on offers for the purchase or sak of a."`"" ^"."•••"^t'.. 4 ^^.^^1".."-vm ^n^r^^^^"^^ "^"'ar ^ontidentiality. legal privilege. and legal entity disclaimers. available at http www.mmorean.com parrs disclostaro. email. EFTA_R1_00506964 EFTA02007232