EFTA02704806

From: Richard Kahn Sent: Monday, February 22, 2016 5:37 PM To: Jeffrey E. Subject: Fwd: ESRX New Issue Corp Offering Attachments: p_DX63W.pdf; Untitled attachment 00040.htm 5 year = 1.24 + 240 basis points = 3.64% estimated =ield 10 year = 1.76 + 295 basis points = 4.71% =stimated yield please advise thank you Richard Kahn HBRK Associates Inc. 575 Lexington =venue 4th Floor New York, NY 10022 Begin forwarded message: From: =/b>"Atlas, Andrew S" Subject: =/b>ESRX New Issue =orp Offering Date: February 22, 2016 at 11:15:19 AM EST To: =/b>"Richard Kahn ( Hi Rich, ESRX Corporate Issue =ricing today that I wanted to show Southern Trust Company. Issuer/Ticker Express =cripts Holding Co ( ESRX EFTA_R1_02092873 EFTA02704806 Issue Ratings Moody's: =aa2/Stable/Expected S&P: =BB+/Stable/Expected Fitch: =BB/Stable/Expected Format SEC =egistered Ranking = Sr Unsecured Note Total =ize &nbs=; Benchmark Tenor 5 Year 10 Year Coupon Type Fixed Fixed Tranche Currency USD USD Optional Redemption - Make Whole Call - Par Call: 30 day(s) prior to maturity - Change of Control: price =01 - Make Whole Call 2 EFTA_R1_02092874 EFTA02704807 • Par Call: 90 day(s) prior =0 maturity - Change of =ontrol: price 101 Billing & Delivering CS CITI Use of Proceeds (i) Fund the purchase price and =ccrued and unpaid interest for all of the Tender Notes validly tendered =nd accepted for payment in the Tender Offer, (ii) fund the redemption =rice and accrued and unpaid interest for any of the Any and All Tender Notes that remain outstanding after the completion or =ermination of the Tender Offer and (iii) for general corporate purposes =see RED). Settlement 7+3 (Feb 25, 2016) Denominations 2,000 x 1,000 Timing Today's Business 3 EFTA_R1_02092875 EFTA02704808 Early price talk and subject is Syr +240, 10yr =295 Thanks again, Andrew Andrew S. Atlas First Vice President Equity Sales/Middle Markets Group Financial Advisor Morgan Stanley Wealth Management 1290 Avenue of the =mericas, 12th Floor New York, =Y 10104 Tel/Direct: NMLS ID # =326736 Important Notice to Recipients: Please do not use e-mail to request, authorize or effect the purchase or sale of any =ecurity or commodity. Unfortunately, we cannot execute such instructions provided =n e-mail. Thank you. The sender of this =-mail is an employee of Morgan Stanley Smith Barney LLC ("Morgan Stanley"). If you have =eceived this communication in error, please destroy all electronic and paper =opies and notify the sender immediately. Erroneous transmission is not intended to =aive confidentiality or privilege. Morgan Stanley reserves the right, =o the extent permitted under applicable law, to monitor electronic =ommunications. This message is subject to terms available at the following link: http://www.morganstanley.com/disclaimers/mssbemail.html.&nb=p; If you cannot access this link, please notify us by reply message and we will send the =contents to you. By messaging with Morgan Stanley you consent to =he foregoing. 4 EFTA_R1_02092876 EFTA02704809 5 EFTA_R1_02092877 EFTA02704810