EFTA02426146

To: Jeevacationueevacation mail.com) Cc: Paul S Barrett[ From: Jeffrey M Matu Sent: Fri 4/23/2010 6:48:05 PM Subject: Accumulator Jeffrey, An Accumulator is another way to get exposure to a stock without putting up cash. It works for a sideways to bullish view on the stock. For a one year trade you get 1/24th of the amount of shares every 2 weeks at a discount to the original stock value, as long as the stock is not up 10%. If it closes above 10% on any day the trade terminates. You get shares every 2 weeks (you can hold or sell them). You are guaranteed at least one month's worth of stock at the discount price, even if the stock trades up 10% immediately. For example: Stock Goldman Sachs Term 1 year Shares 120,000 (480 shares per trading day) Reference Price $157 Discounted Price $136.67 (87.05%) Knock Out Price $172.70 (110%) Bi-weekly Shares 5,000 at $136.67 until Knock Out You are guaranteed to receive at least 10,000 shares at $136.67 (even if the stock is up 10% on Day 1). Let me know what you think. EFTA_R1_01494725 EFTA02426146 Jeff Jeffrey M. Matusow JPMorgan Private Bank 140 West 57th Street. 33rd Floor, New York. NY 10019 IRS Circular 230 Disclosure. JPMorgan Chase & Co and its affiliates do not provide tax advice. Accordingly. any discussion of U.S. tax matters contained herein (including any attachments) is not intended or wntten to be used, and cannot be used, in connection with the promotion. marketing or recommendation by anyone unaffiliated with JPMorgan Chase & Co. of any of the matters addressed herein or for the purpose of avoiding U.S. tax-related penalties. EFTA_R1_0 1494726 EFTA02426147