From: Richard Kahn

From: Richard Kahn To: "jeffrey E." <[email protected]> Subject: Fwd: VI Bond Offerings Date: Tue, 27 Jun 2017 16:14:49 +0000 Attachments: STC_VI_Rev_Bonds_6.27.17.pdf; CUSIP-927676NR3-VI_PUB_FIN_AUTH_REV.pdf; CUSIP-927676RD0-VI_PUB_FIN_AUTH_REV.pdf Inline-Images: image00 1 jpg Richard Kahn HBRK Associates Inc. 575 Lexington Avenue 4th Floor New York, NY 10022 Begin forwarded message: From: "Atlas, Andrew S" Subject: FW: VI Bond Offerings Date: June 27, 2017 at 12:13:38 PM EDT To: "Richard Kahn < Here are more details on the offerings. -Andrew Andrew S. Atlas First Vice President Equity Sales/Middle Markets Group Financial Advisor Morgan Stanley Wealth Management 1290 Avenue of the Americas. 12t" Floor I New York. NY 10104 NMLS ID # 1326736 < From: Atlas, Andrew S (Wealth Mgmt MS) Sent: Tuesday, June 27, 2017 12:02 PM To: Richard Kahn ( Subject: VI Bond Offerings ) Hi Rich, EFTA00662464 There are two VI offerings: CUSIP: 927676NR3 Morgan Stanley has roughly 5mm bonds in inventory. Details attached CUSIP: 927676RD0 Morgan Stanley doesn't have in inventory but we can source the bonds with the street. Preliminary offerings are at roughly 78.75 or 6.667% Yield to Worst Let me know if you are interested in either bond, or I can explore more options. Best Regards, Andrew Andrew S. Atlas First Vice President Equity Sales/Middle Markets Group Financial Advisor Morgan Stanley Wealth Management 1290 Avenue of the Americas. 12th Floor I New York NY 10104 NMLS ID It 1326736 NOTICE: Morgan Stanley is not acting as a municipal advisor and the opinions or views contained herein are not intended to be. and do not constitute. advice within the meaning of Section 975 of the Dodd-Frank Wall Street Reform and Consumer Protection Act. If you have received this communication in error. please destroy all electronic and paper copies and notify the sender immediately. Mistransmis.sion is not intended to waive confidentiality or privilege. Morgan Stanley reserves the r'•ht. to the extent •ermined under applicable law, to monitor electronic communications. This message is subject to terms available at the following link: If you cannot access these links. please notify us by reply message and we will send the contents to you. By communicating with Morgan Stanley you consent to the foregoing and to the voice recording of conversations with personnel of Morgan Stanley. EFTA00662465 EFTA00662466