From: Jeffrey Epstein <[email protected]>

From: Jeffrey Epstein <[email protected]> To: "Barrett, Paul S" Subject: Re: Idea Date: Thu, 23 Aug 2012 02:00:10 +0000 unwind but hold off new note On Wed, Aug 22, 2012 at 1:52 PM, Barrett, Paul S < Jeffrey > wrote: We have $2MM of a SPS00 linked note that is up $220K with protection kicking in at 1260 (10% below current market). I think we should unwind this and go into a new note: 18 months SP500 Linked 0% coupon 22% buffer monitored at expiry only (SP500 needs to close below 1099 for your buffer to knock out) Unlimited upside exposure So we are simply raising the buffer level to kick in at today's levels as opposed to 1260. Let me know Paul Paul Barrett, CFA Managing Director EFTA00941786 Global Investment Opportunities Group JPMorgan Private Bank 320 Park Avenue, 14th Floor, New York, NY 10022 (W) (F) NMLS ID# 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 htt twww jnorgan.comipagestdisclosures/cmail. 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 EFTA00941787