EFTA Document EFTA01469046

Subject: Fw: KCP Capital Markets Trade Idea: Enel and Telefonica hybrids that offer 5.5% yield to call to play the carry and periphery theme post ECB [C] From: Tazia Smith ‹ > Date: Tue, 10 Jun 2014 13:05:24 -0400 To: Rich Kahn a, II > " Cc: Paul Morris , Vahe Stepanian Classification: Confidential Hi Rich - An iteration here of the tighter-periphery spreads here. I know you and I have discussed yield/bond solutions for getting cash to work with a much different payout profile tha