EFTA02354222

From: Giuffrida, David Sent: Thursday, May 31, 2012 7:40 PM To: Jeffrey Epstein Cc: Barrett, Paul S Subject: refreshed pricing 250,000 barrels =0Abuy 120 call = sell=80 put =OD This compares to cost of $0=2E24/bbl on the futures options ($60,000) <= class="MsoNormal"> =OA Paul had to step off for Jury d=ty. Please let me know if you have any questions and I'll ca=l you. Global Investment Opportunities Group =OA 320 Park Avenue, 14th Fl=or New York, NY 10022 T: F: =/cliv> This communication is f=r informational purposes only. It is not intended as an offer or solicit=tion for the purchase or sale of any financial instrument or as an officia= confirmation of any transaction. All market prices, data and other info=mation are not warranted as to completeness or accuracy and are subject to=change without notice. Any comments or statements made herein do not nec=ssarily reflect those of JPMorgan Chase & Co., its subsidiaries and affi=iates. This transmission may contain information that is priv=leged, confidential, legally privileged, and/or exempt from disclosure und=r applicable law. If you are not the intended recipient, you are hereby =otified that any disclosure, copying, distribution, or use of the informat=on contained herein (including any reliance thereon) is STRICTLY PROHIBITE=. Although this transmission and any attachments are believed to be free=of any virus or other defect that EFTA_R1_01335642 EFTA02354222 might affect any computer system into wh=ch it is received and opened, it is the responsibility of the recipient to=ensure that it is virus free and no responsibility is accepted by JPMorgan=Chase & Co., its subsidiaries and affiliates, as applicable, for any los= or damage arising in any way from its use. If you received this transmi=sion in error, please immediately contact the sender and destroy the mater=al in its entirety, whether in electronic or hard copy format. Thank you=2E Please refer to http://www.jpmorgan.com/pages/disclosure= for disclosures relating to European legal entities. 2 EFTA_R1_01335643 EFTA02354223