From: Jeffrey Epstein <[email protected]>

From: Jeffrey Epstein <[email protected]> To: "Barrett, Paul S" Subject: Re: Another idea Date: Mon, 07 Jan 2013 21:03:53 +0000 Ok On Monday, January 7, 2013, Barrett, Paul S wrote: Jeffrey As a second idea we also like a gaining exposure to CNH (Chinese offshore currency) via a structured note. The note offers 5x leverage to the upside and lx leverage to the downside. We think the new government will achieve 7%-8% growth while targeting domestic consumption as the next major initiative. A stronger currency should help. We expect 3% CNH appreciation this year. The note offers 5x leverage to that upside. CNH Leveraged Note • HSBC issued • 12 months • Upside exposure: o 1 for 1 with CNH o 5 times leverage o uncapped • Downside exposure: 1 for 1 with CNH I would recommend $1MM. We have over $29MM in cash. Paul Paul Barrett I Managing Director I Global Investment Opportunities Group I Morgan Private Bank T: I NMLS EFTA00951384 Disclosures regarding email content of the Sales and Trading Department are available at httplAvww.kmorgan.corn/pages/disclosures/GWM_Disclosures 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, confidentialitty, legal privilege, and legal entity disclaimers, available at hup://wwwtorgan.comipagesidisclosures/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 EFTA00951385