From: Jeffrey Epstein <[email protected]>

From: Jeffrey Epstein <[email protected]> To: "Barrett, Paul S" Subject: Re: BRL Date: Thu, 26 Apr 2012 14:55:30 +0000 no On Thu, Apr 26, 2012 at 10:25 AM, Barrett, Paul S < Jeffrey This is closing today. Would you like to do $1MM? Paul Paul Barrett, CFA Managing Director Global Investment Opportunities Group JPMorgan Private Bank From: Barrett, Paul S Sent: Tuesday, April 24, 2012 10:27 AM To: 'Epstein, Jeffrey geevacationagmaitcomy Cc: Ens, Amanda Subject: BRL Hi Jeffrey > wrote: EFTA00934291 I think the best way of playing BRL up here is to use a market plus note (same as the SP500 notes we have done in the past) which pays you the greater of a 8.25% coupon or the upside on BRL so long as we do not finish weaker than 2.2500 in 53 weeks time. If we are weaker than 2.2500 then you are simply long BRL from current levels (1.8800) and lose the 8.25% coupon. This is taxed as long term capital gains. BRL market plus 53 weeks 8.25% coupon 20% at expiry barrier Would do $1.5MM in this. Paul Paul Barrett, CFA Managing Director Global Investment Opportunities Group 7PMorgan Private Bank 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 EFTA00934292 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 Jeffrey Epstein 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 EFTA00934293