EFTA Document EFTA01745754

From: Richard Kahn < Subject: GE Preferred Sent: Friday, January 15, 2016 8:43:16 PM To: "Jeffrey E." <[email protected]> imacie004.ong 'mai:10054ff imaae006.aif imacie007.mq i understand we were not filled on our order of 100.5 and today at 4pm is cutoff for voluntary exchange GE is offering us to exchange our 4% fixed to float with a 5% fixed to float plus a cash payment of 10.00 per share per share of preferred stock we currently own 2,469 shares x 10 = 24,690 cash payment plus new 5% preferred please advise if we should proceed with exchange thank you Richard Kahn HBRK Associates Inc. 575 Lexington Avenue 4th Floor New York, NY 10022 Begin forwarded message: From: Ariane Dwyer Subject: RE: Follow up to this morning's call Date: January 12, 2016 at 1:29:30 PM EST To: Richard Kahn < Cc: Vahe Ste anian >, Daniel Sabba Hi Rich, I found this in the text outlining the corporate action. I think it clarifies the voluntary exchange. GENERAL OFFER TERMS: GENERAL ELECTRIC COMPANY IS OFFERING TO EXCHANGE ANY AND ALL OF THE ABOVE OUTSTANDING SHARES (THE 'OLD PREFERRED STOCK') FOR THEIR NEWLY ISSUED 5.00 PERCENT FIXED-TO-FLOATING RATE NON-CUMULATIVE PERPETUAL PREFERRED STOCK SERIES D (THE 'NEW PREFERRED STOCK') AT AN EFTA_R1_00038677 EFTA01745754 EXCHANGE CONSIDERATION DESCRIBED BELOW. EXCHANGE CONSIDERATION: FOR EACH SHARE OF THE ABOVE OLD PREFERRED STOCK VALIDLY TENDERED (AND NOT VALIDLY WITHDRAWN) AND ACCEPTED IN THE EXCHANGE OFFER, HOLDERS WILL RECEIVE ONE SHARE OF NEW PREFERRED STOCK PLUS A CASH PAYMENT OF USD10.00 PER SHARE OF OLD PREFERRED STOCK EXCHANGED THE NEW PREFERRED STOCK WILL BE IDENTICAL TO THE OLD PREFERRED STOCK, EXCEPT THAT THE DIVIDEND RATES ON THE NEW PREFERRED STOCK WILL BE HIGHER, AND THE FIRST AVAILABLE REDEMPTION DATE WILL BE 01/21/21. The 'OLD PREFERRED STOCK' refers to the below position: Best, Ari From: Ariane Dwyer Sent: Monday, January 11, 2016 8:47 AM To: 'Richard Kahn' Cc: Vahe Stepanian; Daniel Sabba Subject: RE: Follow up to this morning's call Hi Rich, I hope all goes well with the doctor. When you have a minute could you please let us know how you would like to proceed with the below? The cut-off date is 1/15/16. Best, Ari From: Ariane Dwyer Sent: Thursday, January 07, 2016 12:35 PM To: Richard Kahn Cc: Vahe Stepanian Subject: Follow up to this morning's call Hi Rich, I spoke with Pershing regarding the General Electric security exchange. They clarified that this was a mandatory exchange for holders of outstanding GE Preferred Stock. Please find details of the exchange in this article, under the sub-title "GE Preferred Stock" http://www.businesswire.comMews/home/20151201006722/en/ EFTA_R1_00038678 EFTA01745755 That being said, there is now an open voluntary action for the preferred stock, details below. Southern Financial owns 2,469,000 of these securities (approx. market value of $2.49mm) Please let us know how you would like to proceed. Best, Ari Ariane Dwyer Analyst I Key Client Partners - US Deutsche Bank Securities Inc Deutsche Asset & Wealth Management Park Avon EFTA_R1_00038679 EFTA01745756 This communication may contain confidential and/or privileged information. If you are not the intended recipient (or have received this communication in error) please notify the sender immediately and destroy this communication. Any unauthorized copying, disclosure or distribution of the material in this communication is strictly forbidden. E FTA_R 1_00038680 EFTA01745757 Deutsche Bank does not render legal or tax advice, and the information contained in this communication should not be regarded as such. EFTA_R1_00038681 EFTA01745758