EFTA02701471

From: Barrett, Paul S < Sent: Monday, October 1, 2012 3:34 PM To: 'Epstein, Jeffrey ([email protected] Cc: Giuffrida, David J; Schaffer, Susannah Subject: Bond Idea Attachments: KND.PDF =body lang="EN-US" link="blue" vlink="purple"> Jeffrey =0:p> Our=HY Credit team initiated coverage on Kindred Healthcare (post acute health=are provider) with an overweight on their KND 8.25% 2019 bonds.</=:p> Px: &nbs=; 100.00 =p class="MsoNormal">YTM: 8=2E25% Kindre= (B rated) trades around 175bps wide to the B universe. Our credit team =ees little changes in Medicare re- imbursement with 2013 visibility looking=reasonable. I think this looks interesting for $1-2MM. =OA =p class="MsoNormal">Research piece attached.=/span> let me know<=span> Paul</=> =OD 1 EFTA_R1_02070982 EFTA02701471 =OA =p class="MsoNormal"> =OA Pa=l Barrett, CFA Managing Direc=or Global Investment Opportun=ties Group JPMorgan Private=Bank 320 Park Avenue, 14th Fl=or, New York, NY 10022 <=pan style="font-size:10.5pt;font-family:Consolas;color:#1F497D" (W) NMLS ID# 853441 =OA (F) This email is confidential and subject to important disclaimers =nd conditions including on offers for the purchase or sale of securities, =ccuracy and completeness of information, viruses, confidentiality, legal p=ivilege, and legal entity disclaimers, available at http://www.jpmorgan=2Ecom/pages/disclosures/email. 2 EFTA_R1_02070983 EFTA02701472