From: Jeffrey Epstein <jeevacation®gmail.com>

From: Jeffrey Epstein <jeevacation®gmail.com> To: "Barrett, Paul S" Subject: Re: Dual Directional Oil Note Date: Tue, 16 Jul 2013 22:26:49 +0000 work sample if oil spikes , ? if oil is 80 120 150? when On Tue, Jul 16, 2013 at 10:52 AM, Barrett, Paul S > wrote: Jeffrey An Interesting idea from our oil desk. Dual directional note that works as follows: WTI Dual Directional CL1 is reference at maturity (from month WTI) 53 weeks Uncapped upside 21.5% at expiry barrier (at expiry client receives absolute value of underlying return if above the barrier/client receives underlying return if below the barrier) 100% max loss If oil is up 20% you are up 20% If it is flat you are flat If it is down 20% you are up 20% If it is down 22%, you are down 22% Paul EFTA00964992 Paul Barrett I Managing Director I Global Investment Opportunities Group I Morgan Private Sank 320 Park Avenue, 14th Floor, New York, NY 10022 I T: 212) 622-2770 I F: (212) 310-0108 I I NMLS ID# 853441 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 http://www.jpmorgan.com/pages/disclosures/email. 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 EFTA00964993