Epstein Secrets

"Cambria","serif"">Here40=804>s an attractive Yield to Call opportunity that I wanted to show South=rn Trust Company. I've attached a still relevant Morgan Stan=ey note from earlier this year. Details:</=> Royal Bank of Scotland 7.64% Fixed-to-Float Preferred Shares<=> RBS 7.64% Perpetual Issuer:0 Royal B

thereafter=/u> Maturity: 4 4> Perpetual <=>Net Pri=e: 4 4) 105.25 Current Yield: 4> 40 7.2589% Yield to Next Call: 4> 4.6871% Some of Morgan Stanley's highlights:<=> 1.<=pan style="font:7.0pt "Times New Roman—> 40 They fundamentally like the credit and this is one of the most =iquid and highest y

From: jeffrey E. <[email protected]> Sent: Monday, November 9, 2015 9:28 PM To: Richard Kahn Subject: Re: Royal Bank of Scotland 7.64% Fixed-to-Float Pfd million On Mon, Nov 9, 2015 at 10:25 PM, Richard Kahn <mailt°a > wrote: thought this was interesting a= it would yield

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fter Maturity: =nbsp; &n=sp; Perpetual Net==rice: &n=sp; &nbs=; 105.25 Current =ield: &n=sp; 7.2589% Yield to Next =all: =.6871% Some of Morgan Stanley's highlights: 1. They fundamentally like the credit and this is one of the =ost liquid and highest yielding legacy securities (old-style Ails) 2.

From: Richard Kahn < la> Sent: Tuesday, November 10, 2015 9:25 PM To: jeffrey E. Subject: Re: Royal Bank of Scotland 7.64% Fixed-to-Float Pfd Trade executed at 105.00 vs 105.25 on RBS Fixed to Float =refferred Yield to =all now 4.8104% vs 4.6871% Richard Kahn HB

fter Maturity: =nbsp; &n=sp; Perpetual Net==rice: &n=sp; &nbs=; 105.25 Current =ield: &n=sp; 7.2589% Yield to Next =all: =.6871% Some of Morgan Stanley's highlights: 1. They fundamentally like the credit and this is one of the =ost liquid and highest yielding legacy securities (old-style AT1s) 2.

From: Richard Kahn < Sent: Monday, November 9, 2015 9:26 PM To: jeffrey E. Subject: Fwd: Royal Bank of Scotland 7.64% Fixed-to-Float Pfd Attachments: RBS.Bonds.2.24.15.pdf; Untitled attachment 00459.htm thought this was interesting as it would =ield foreign