EFTA02719868

From: Richard Kahn < Sent: Tuesday, November 24, 2015 4:30 PM To: jeffrey E. Subject: Fwd: Barclays COCO Bond: 6.625% Perpetual (Syr Swap+502) Fixed-to-Float Preferred Attachments: 2015-09-01 - Barclays Faster Leaner.pdf; Untitled attachment 00082.htm attached is a Barclays 6.625% fixed until =115/2019 then floats (5 year swap + 502 - resets quarterly) preferred =ond offered at 99.40 first call date is =115/2019 at 100 please note you currently own 300,000 of Barclay's =.75% expiring 4/2023 please advise thank you Purchase Quantity 9/30/15 10/31/15 Unrealized Asset =escription Date Cost Value Value Gain (Loss) Southern =inancial LLC - Fixed Income Barclays Bank =LC 7.75% 4/10/2023 4/3/13 300,000 300,000 332,354 327,231 27,231 Richard Kahn HBRK Associates Inc. 575 Lexington =venue 4th Floor New York, NY 10022 tel fax cell = Begin forwarded message: From: =/b>"Atlas, Andrew 5" < Subject: =/b>Barclays COCO =ond: 6.625% Perpetual (Syr Swap+502) Fixed-to-Float Preferred Date: =/b>November 24, 2015 at 11:20:05 =M EST To: =/b>"Richard Kahn ( I" < EFTA_R1_02178613 EFTA02719868 Hi Rich, Here's a bond =hat I'd like to show you and Southern Trust Company. Details: Barclays 6.625% Perpetual =5yr Swap+502) Fixed-to-Float Preferred Issuer: Barclays =o:p class=""> Par =alue: =1,000 Security =ype: Preferred Stock QDI/DRD =ligible Yes = Yes Rating: =+/BB+/BB- Coupon =Details): 6.625% to 9/15/2019; Then 5 Year Swap + 502.2bp, resets =uarterly =nbsp; &n=sp; 1st Call Date: =115/2019 @ 100.00 Maturity: &nb=p; Perpetual Net =rice: =9.40 Net =ield: =.6679% Yield to =all: 6.8052% Syr Swap = =59bps All prices are subject =nd always negotiable. Speak soon, Andrew 2 EFTA_R1_02178614 EFTA02719869 Andrew S. Atlas Financial =dvisor Equity Sales/Middle Markets Group Morgan Stanley Wealth Management Midtown Manhattan =omplex 1290 Avenue of the =mericas, 12th Floor New York, =Y 10104 Tel/Direct: Fax: <mailto 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 RC ("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. 3 EFTA_R1_02178615 EFTA02719870