From: "Paul V. Morris" 4

From: "Paul V. Morris" 4 To: Jeffrey Epstein -4 Subject: CIO Weekly Letter - Will the BAT fly? Date: Tue, 04 Apr 2017 15:21:36 +0000 PBIG logo (,CIO Weekly Will the BAT fly? A Republican proposal to tax imports and subsidize exports as part of a broader overhaul of U.S. corporate income taxes has left corporate America intensely divided. The measure is seen as potentially hurting companies and consumers that buy a lot of imports while benefiting export-oriented companies and their workers. Its fate is unclear as it could be dropped from the tax reform proposal. Learn more in the new Weekly Letter, Will the BAT fly?, and feel free to contact us to talk about how we might put insights of this kind to work for you. Sincerely, The Morris Group Private Wealth Manager Read the latest Weekly Letter The Morris Group Private Wealth Manager One Bryant Park, 28th Floor New York, NY 10036 II you prefer not to receive future emails from updates.ml.com click here Some of the risks involved with equities include the possibility that the value of the stocks may fluctuate in response to events specific to the companies or markets, as well as economic, political or social events in the U.S. or abroad. The investments or strategies presented do not take into account the investment objectives or financial needs of particular investors. It is important that you consider this information in the context of your personal risk tolerance and investment goals before making an investment decision. Neither Merrill Lynch nor any of its affiliates or financial advisors provide legal, tax or accounting advice. You should consult your legal and/or tax advisors before making any financial decisons. Merrill Lynch makes available products and services offered by Merrill Lynch, Pierce, Fenner & Smith Incorporated ("MLPF&S") and other subsidiaries of Bank of America Corporation ("BofA Corp."). EFTA00634501 The Private Banking and Investment Group is a division of MLPF&S that offers a broad array of personalized wealth management products and services. Both brokerage and investment advisory services (including financial planning) are offered by the group's private wealth advisors through MLPF&S. The nature and degree of advice and assistance provided, the fees charged, and client rights and Merrill Lynch's obligations will differ among these services. Investments involve risk, including the possible loss of principal investment. The banking, credit and trust services sold by the group's private wealth advisors are offered by licensed banks and trust companies, including Bank of America, N.A., Member FDIC, and other affiliated banks. Investment products: Are Not FDIC Insured Are Not Bank Guaranteed May Lose Value MLPF&S is a registered broker-dealer, registered investment adviser, Member SIPC and a wholly owned subsidiary of BofA Corp. i 2017 Bank of America Corporation. All rights reserved.' ARN3TCTYI 04/2017 rw EFTA00634502