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ever, “US Fixed Income arkets — 2017 Outlook,” JP organ, November 23, 2016. 8. Lofti Karoui, “Credit Not
regulated by the Financial Conduct Authority and the Prudential Regulation Authority under jaws in the United Kingdom; GSSP is regulat
o Merck & Co., Inc. (MRK. MRK US) Price Chart lee 90 — 72 PriceIS) es 36—' Is - 0 rice charts, are available for compendium reports and all Morgan- calling 1-800477-0406, ore-mailing with your request. Morgan's Strategy, Technical, and Quantitative Research teams may an. For important disclosu
member of NYSE, FINFtA, SIPC and the NFA. JPMorgan Chase Bank. M . is a member of FDIC. U.K.: JPMorgan Chase M.. London Branch, is authorised by the Prudential Regulation Authority and is subject to regulation by the Financial Conduct Authority and to limited regulation by the Prudential Regulation Authority. Details about the
ies of The Depository Trust Company. against payment on or about June , 2016. See "Underwriting." BofA Merrill Lynch Joint Book-Running Managers Morgan Stanley UBS Investment Bank The date of this prospectus supplement is _tune , 2016. EFTA00618204 TABLE OF CONTENTS Prospectus Supplement Page About Th
e of the Securities and Exchange Commission, any state securities commission, the Registrar of Companies in Bermuda, the Bermuda Monetary Authority, the Prudential Regulation Authority of the Bank of England, or any other regulatory• body has approved or disapproved of these securities or passed upon the adequacy of this prospectus
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integration risks. Upside risks to our price objective are better than expected equity markets, performance, or flows, or an accretive acquisition. Morgan Stanley (MS) We value the brokers based on the relationship between ROE (return on equity} and PB (price to book), which has a high historical correlation. Ou
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