From: Richard Kahn

From: Richard Kahn To: "jeffrey E." <[email protected]> Subject: Fwd: New Issue $25 Par: Capital One Financial Corporation (COF) Perpetual Preferred 6.25% - 6.375%; Fixed for Life Date: Mon, 17 Aug 2015 16:41:50 +0000 Attachments: COF__Prelim_Pro_Supp.pdf attached is capital one preferred new issue offering (series f) projected at 6.25% - 6.375% for life with no reset note we previously purchased 3,000,000 capital one preferred with a 5.55% yield fixed until 9-1-2020 then 380 over 3 month libor please advise thank you Richard Kahn HBRK Associates Inc. 575 Lexington Avenue 4th Floor New York NY 10022 tel fax cell Begin forwarded message: From: "Atlas, Andrew S" c Subject: New issue $25 Par: Capital One Financial Corporation (COF) Perpetual Preferred 6.25% - 6.375%; Fixed for Life Date: August 17, 2015 at 10:58:05 AM EDT To: "Richard Kahn ( " < Rich, Here is another New Issue Pfd Pricing today. Speak soon, Andrew $25 Par New Issue Syndicate Offering: Capital One Financial Corporation (COF) Issuer: Capital One Financial Corporation (Ticker: COF) Securities Offered: Depositary shares each representing a 1/40th Interest in a Share of Fixed Rate Non-Cumulative Perpetual Preferred Stock, Series F EFTA00848541 Expected Ratings: Baa3/BB/BB Size: $250mm (10mm shares) Maturity: Perpetual Price Guidance: 6.25% - 6.375%; Fixed for Life Offer Price: $25.00 per depositary share Dividends: When, as, and if declared, Dividends will accrue and be payable quarterly in arrears, on the 1st of March, June, September and December beginning December 1, 2015 Optional Redemption: Subject to regulatory approval, (1) in whole or in part, from time to time, on any dividend payment date on or after December 1, 2020 at Par plus any declared and unpaid dividends, or (2) in whole but not in part, at any time within 90 days following a regulatory capital treatment event (see red), at Par plus any declared and unpaid dividends. Use of Proceeds: For general corporate purposes in the ordinary course of our business. General corporate purposes may include repayment of debt, acquisitions, additions to working capital, capital expenditures and investments in our subsidiaries DRD/QDI Eligible: Yes Subject to U.S. Tax Withholding for NRA Clients Yes* Expected Listing: NYSE Andrew S. Atlas Financial Advisor Equity Sales/Middle Markets Group Morgan Stanley Wealth Management Midtown Manhattan Complex 1290 Avenue of the Americas, 12th Floor I New York, NY 10104 Tel/Direct: I Fax: Important Notice to Recipients: Please do not use e-mail to request, authorize or effect the purchase or sale of any security or commodity. Unfortunately, we cannot execute such instructions provided in e-mail. Thank you. The sender of this e-mail is an employee of Morgan Stanley Smith Barney LLC ("Morgan Stanley"). If you have received this communication in error, please destroy all electronic and paper copies and notify the sender immediately. Erroneous transmission is not intended to waive confidentiality or privilege. Morgan Stanley reserves the right, to the extent permitted under applicable law. to monitor electronic communications. This message is subject to terms available at the following link: http://www.morganstanley.com/disclaimers/mssbemail.html. 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 the foregoing. EFTA00848542