From: Richard Kahn

From: Richard Kahn To: "Jeffrey E." <[email protected]> Subject: Re: MRK Date: Wed, 02 Sep 2015 10:28:48 +0000 Shall I ask Daniel for Merck structured note ideas with 20 percent downside protections. Please advise. Thank you. Sent from my iPhone On Sep 1, 2015, at 3:59 PM, jeffrey E. [email protected]> wrote: Forwarded message From: Barrett, Paul S 4 Date: Tue, Sep 1, 2015 at 2:29 PM Subject: MRK To: Brad Wechsler Cc: "Rich Joslin [email protected]>, Barrett Team Brad , "Jeffrey Epstein (jeevacation®gmail.com)" I sent over an email with the indicative terms for a structured note on Merck. We like the name and would recommend investing $500k. MRK is down 11% since August 17th and now trades at 15x PIE. We think the pullback offers an interesting opportunity to add via the note that provides an additional 20% downside protection. Paul Paul Barrett I Managing Director I Global Investment Opportunities Group I • Morgan Securities LLC I E. Morgan Private Bank I El. Morgan Chase Bank MI. 320 Park Avenue, 14th Floor, New York, NY 1002 EFTA00847261 NOT AN OFFICIAL CONFIRMATION: For informational purposes only. This report does not represent an official account of the holdings, balances, or transactions made in your account and is being provided at your request. Please refer to your monthly account statement for the official record of all of your account activities. For question, please call your E Morgan representative. In discussion of options and other strategies, results and risks are based solely on hypothetical examples cited; actual results and risks will vary depending on specific circumstances. Investors are urged to consider carefully whether option or option-related products in general, as well as the products or strategies discussed herein are suitable to their needs. In actual transactions, the client's counterparty for OTC derivatives applications is JPMorgan Chase Bank, M., and affiliates. For a copy of the "Characteristics and Risks of Standardized Options" booklet, please contact your JPMorgan Advisor. This email is confidential and subject to important disclaimers and conditions including on offers for the purchase or sale of securities, accuracy and completeness of information, viruses, confidentiality, legal privilege, and legal entity disclaimers, available at This email is confidential and subject to important disclaimers and conditions including on offers for the purchase or sale of securities, accuracy and completeness of information, viruses, confidentiality, legal privilege, and legal entity disclaimers, available at please note The information contained in this communication is confidential, may be attorney-client privileged, may constitute inside information, and is intended only for the use of the addressee. It is the property of JEE Unauthorized use, disclosure or copying of this communication or any part thereof is strictly prohibited and may be unlawful. If you have received this communication in error, please notify us immediately by return e-mail or by e-mail to [email protected], and destroy this communication and all copies thereof, including all attachments. copyright -all rights reserved EFTA00847262