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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
an 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 Bk Scotland Grp Plc Par Value: 4> $1,000 S=curity Type: Preferred Stock QDI/DRD Eligible4e Yes / Yes<=> Cumulative: Non-Cumulative Rating: B1 / B+ Coupon (Deta
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
ant Morgan Stanley note from earlier this year. Details: Royal Bank of Scotland 7.64% Fixed-to-Float Preferred =hares RBS=7.64% Perpetual Issuer: Royal Bk Scotland Grp Plc Par=Value: =1,000 Security Type: Preferred Stock QDI/DRD =ligible Yes = Yes Cumulative: =on-Cumulative Rating: B1 / B+ 3 EFTA_R1_01597873
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
ier this year. EFTA_R1_01939811 EFTA02671084 Details: Royal Bank of Scotland 7.64% Fixed-to-Float Preferred =hares RBS=7.64% Perpetual Issuer: Royal Bk Scotland Grp Plc Par=Value: =1,000 Security Type: Preferred Stock QDI/DRD =ligible Yes = Yes Cumulative: =on-Cumulative Rating: B1 / B+ Coupon =Details): =.
Entities connected to both Royal Bank of Scotland and Royal Bk Scotland Grp Plc

Jeffrey Epstein
PERSON
Marc Rich
PERSON
United States
LOCATION
Prince Andrew
PERSON
Morgan Stanley
ORGANIZATION
Richard Kahn
PERSONTel/Direct
ORGANIZATION
Condoleezza Rice
PERSONMorgan Stanley Smith Barney LLC
ORGANIZATIONLexington
LOCATION