Epstein Secrets

.6% 32.6% -7.8% $3.7125bn FTR (FTRPR) 11.125% 6/29/18 4.85 93.85 5.00 5.87 11.9% 3.2% 1 - Buy 7.50 54.6% 33.6% 1.2% $1.925bn Source: Bloomberg, BAML. Up/down return vs underlying stock price +/- 25% assum=s preferred is held to maturity =/u> 8 EFTA_R1_01555609 EFTA02454078 Today's

hat rate<=> On Mon, Aug 8, 2016 at 4:30 PM, Ens, Amanda AGN mandatory convert pre=erred Ticker: AGN A Pfd<=> Coupon: 5.5% Maturity: 3/1/2018=u> Pfd Price: 881.38<=> AGN stock ref: 248.31 Convert low strike: 288.0= (at maturity, if AGN is at or below 288, you get 3.4722 shares)=/u> EFTA_R1_01555602

TRPR) 11.125% 6/29/18 4.85 93.85 5.00 9 EFTA_R1_01557879 EFTA02455326 5.87 11.9% 3.2% 1 - Buy 7.50 54.6% 33.6% 1.2% $1.925bn Source: Bloomberg, BAML. Up/down return vs underlying stock price +/- 25% assum=s preferred is held to maturity =/u> From Aug 2: Risk Parity Risks in US Fixed I

ns, Amanda a wrote: AGN mandatory convert pre=erred Ticker: AGN A Pfd<=> 2 EFTA_R1_01557872 EFTA02455319 Coupon: 5.5% Maturity: 3/1/2018=u> Pfd Price: 881.38<=> AGN stock ref: 248.31 Convert low strike: 288.0= (at maturity, if AGN is at or below 288, you get 3.4722 shares)=/u> Convert high strik

urity and stock is down 25%: -7.8% 0Di-eligible: No Amount outstanding: $3.7125 bn Assumes convert held to maturity; all coupons included Source: Bloomberg Amanda Ens Director Bank of America Merrill Lynch Merrill Lynch, Pierce, Fenner & Smith Incorporated One B ant Park 5th Floor, New York, NY 1003

25%: -15.7% ODI-eligible: No Amount outstanding: $5.06 bn TEVA mandatory convert preferred Ticker: TEVVF Pfd Coupon: 7.0% Maturity: 12/15/2018 Pfd Price: 895.07 TEVA stock ref: 54.21 Convert low strike: 62.50 Convert high strike: 75.00 Strip yield: 7.9% (vs common stock at 2.5% div yield) BofAML

maturity and stock is down 25%: 1.1% QDI-eligible: No Amount outstanding: $1.925bn Assumes convert held to maturity; all coupons included Source: Bloomberg Thanks, Amanda From: Ens, Amanda Sent: Tuesday, August 09, 2016 10:00 AM To: 'jeffrey E.'; 'Richard Kahn' Subject: RE: Preferreds, thoughts on

25%: -16.2% QDI-eligible: No Amount outstanding: $5.06 bn TEVA mandatory convert preferred Ticker: TEVVF Pfd Coupon: 7.0% Maturity: 12/15/2018 Pfd Price: 901.75 TEVA stock ref: 54.14 Convert low strike: 62.50 Convert high strike: 75.00 Strip yield: 7.9% (vs common stock at 2.5% div yield) BofAML

maturity and stock is down 25%: 1.1% MA-eligible: No Amount outstanding: $1.925bn Assumes convert held to maturity; all coupons included Source: Bloomberg Thanks, Amanda From: Ens, Amanda Sent: Tuesday, August 09, 2016 10:00 AM To: 'jeffrey E.'; 'Richard Kahn' Subject: RE: Preferreds, thoughts on

inconvenience. Please let me know what you prefer. FTR mandatory convert preferred details Ticker: FTRPR Pfd Coupon: 7.0% Maturity: 12/15/2018 Pfd Price: 95.15 FTR stock ref: 4.90 Convert low strike: 5.00 Convert high strike: 5.875 Strip yield: 11.9% (vs common stock at 8.6% div yield) BofAML pri

urity and stock is down 25%: -7.8% QDI-eligible: No Amount outstanding: $3.7125 bn Assumes convert held to maturity; all coupons included Source: Bloomberg Amanda Ens Director Bank of America Merrill Lynch Merrill Lynch, Pierce, Fenner & Smith Incorporated One Bryant Park, 5th Floor, New York, NY 10

25%: -15.7% QDI-eligible: No Amount outstanding: $5.06 bn TEVA mandatory convert preferred Ticker: TEVVF Pfd Coupon: 7.0% Maturity: 12/15/2018 Pfd Price: 895.07 TEVA stock ref: 54.21 Convert low strike: 62.50 6 EFTA_R1_01555894 EFTA02454266 Convert high strike: 75.00 Strip yield: 7.9% (vs comm

and stock is d=wn 25%: 1.1% QDI-eligible: No</=> Amount outstanding: $1.925bn<=u> Assumes convert held to maturity; al= coupons included Source: Bloomberg Thanks, Amanda From: Ens, Ama=da Sent: Tuesday, August 09, 2016 10:00 AM To: 'jeffrey E.'; 'Richard Kahn' Subject: RE: Preferreds, thoughts on

igible: No</=> Amount outstanding: $5.06 bn<=u> TEVA mandatory convert preferred=u> Ticker: TEVVF Pfd<=p> Coupon: 7.0% Maturity: 12/15/2018</=> Pfd Price: 901.75<=p> TEVA stock ref: 54.14<=u> Convert low strike: 62.50=u> Convert high strike: 75.00 Strip yield: 7.9% (vs common stock at 2=5% div yiel

t= maturity; all coupons included </=> Source: Bloomberg<=> </=> Amanda Ens<=> Director Bank of Americ

hat rate<=> On Mon, Aug 8, 2016 at 4:30 PM, Ens, Amanda AGN mandatory convert pre=erred Ticker: AGN A Pfd<=> Coupon: 5.5% Maturity: 3/1/2018=u> Pfd Price: 881.38<=> AGN stock ref: 248.31 Convert low strike: 288.0= (at maturity, if AGN is at or below 288, you get 3.4722 shares)=/u> Convert high strik

maturity and stock is down 25%: 1.1% QDI-eligible: No Amount outstanding: $1.925bn Assumes convert held to maturity; all coupons included Source: Bloomberg Thanks, Amanda From: Ens, Amanda Sent: Tuesday, August 09, 2016 10:00 AM To: 'jeffrey E.'; 'Richard Kahn' Subject: RE: Preferreds, thoughts on

FTA01785500 WA-eligible: No Amount outstanding: $5.06 bn TEVA mandatory convert preferred Ticker: TEVVF Pfd Coupon: 7.0% Maturity: 12/15/2018 Pfd Price: 901.75 TEVA stock ref: 54.14 Convert low strike: 62.50 Convert high strike: 75.00 Strip yield: 7.9% (vs common stock at 2.5% div yield) BofAML

urity and stock is down 25%: -7.8% QDI-eligible: No Amount outstanding: $3.7125 bn Assumes convert held to maturity; all coupons included Source: Bloomberg Amanda Ens Director Bank of America Merrill Lynch Merrill Lynch, Pierce, Fenner & Smith Incorporated One Bryant Park, 5th Floor, New York, NY 10

25%: -15.7% QDI-eligible: No Amount outstanding: $5.06 bn TEVA mandatory convert preferred Ticker: TEVVF Pfd Coupon: 7.0% Maturity: 12/15/2018 Pfd Price: 895.07 TEVA stock ref: 54.21 Convert low strike: 62.50 7 EFTA_R1_00107686 EFTA01785505 Convert high strike: 75.00 Strip yield: 7.9% (vs comm