From: Jeffrey Epstein <[email protected]>

From: Jeffrey Epstein <[email protected]> To: "Barrett, Paul S" Subject: Re: To Do Date: Thu, 06 Sep 2012 14:06:40 +0000 start 50mm On Thu, Sep 6, 2012 at 10:04 AM, Barrett, Paul S < > wrote: OK — but the market did move 10bps higher on this news so it's a decent entry level. We could always start smaller if you like. Paul Barrett, CFA Managing Director Global Investment Opportunities Group JPMorgan Private Bank 320 Park Avenue, 14th Floor, New York, NY 10022 NMLS IDS! 853441 From: Jeffrey Epstein [mailtoleevacationegmail.com] Sent: Thursday, September 06, 2012 10:03 AM To: Barrett, Paul S Subject: Re: To Do tlak tomorow On Thu, Sep 6, 2012 at 9:59 AM, Barrett, Paul S < Hi Jeffrey wrote: EFTA00942719 We like the idea of receiving fixed in forward starting interest rate swaps in Europe. The deleveraging process in Europe will take years which will likely keep short dated rates low for an extended period of time. We would receive fixed in a 1yr interest rate swap starting in 3yrs at 1.33%. Would do 100MM notional which gives you exposure of 10K per basis point. Positive carry on this trade would be around 490K per year. Collateral of 1%. Let me know Paul Paul Barrett, CFA Managing Director Global Investment Opportunities Group JPMorgan Private Bank 320 Park Avenue, 14th Floor, New York, NY 10022 NMLS ID# 853441 This email is confidential and subject to important disclaimers and conditions including on offers for thepurchase or sale of sccuriti accurac and completeness of information, viruses. confidentiality, legal privilege, and legal entity disclaimers, available at 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 jea®gmail.com, and EFTA00942720 destroy this communication and all copies thereof, including all attachments. copyright -all rights reserved This email is confidential and subject to important disclaimers and conditions including on offers for thepurchase or sale of sccuriti accurac and completeness of information, vinises, confidentiality, legal privilege, and legal entity disclaimers, available at 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 EFTA00942721