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isk reversal vs short IBOXX HY TRS . : _ 30-May-17 1.17% with equal notional sizing 6.9% (FB), 1.2% (AMZN), Buy 6m ATM calls on FB, AMZN, NFLX and GOOGL 30-May-17 9.40% 1/0 (NFLX), 6.2% (GOOGL) Buy a 6m outperformance call on FANG stocks vs. SPX conditional on SPX> current levels at expiry Buy HSI
Page: HOUSE_OVERSIGHT_023598 →ast 12 months, an investment banking client of MLPF&S and/or one or more of its affiliates: Deutsche Telekom, Enel SpA, Iberdrola, Royal Dtch Shell. LPF&S or an affiliate has received compensation from the issuer for non-investment banking services or products within the past 12 months: Deutsche Telekom
Page: HOUSE_OVERSIGHT_023608 →Lynch (Russia}: O00 he Dubai istributed in the Uni nstruments 2001. Wi n Germany and F&S and/or one or more o istributed to F&S and not such K): Merrill Lynch In d, regulated by the A mmission (HKSFC); ated by the Investm ores; Merrill Lynch al Services Agency; errill Lynch (Taiwan): Merrill Lynch Securities
Page: HOUSE_OVERSIGHT_023609 →ng) which is regulated errill Lynch (India); and is issued and distributed in Singapore to institutional International Bank Limited (Merchant Bank) (MLIBLMB) and Merrill Lynch ingapore) are regulated by MAS. Bank of America N.A,, Australian Branch (ARBN e this report in Australia only to affiliates involv
Page: HOUSE_OVERSIGHT_023609 →required for publication or distribution of this rized and regulated by the DFSA. Research reports Lynch International Limited, n; is issued dia by DSP errill Lynch its loa ho her MLEA nor any o iates. MLPF&S is the distributor of this research repor y US person recelving this research report and wishing in the
Page: HOUSE_OVERSIGHT_023609 →n with such offering, and not on this report. Securities and other financial instruments discussed in this report, or recommended, offered or sold by Merrill Lyne h, are not insured by the Federal Deposit Insurance Corporation and are not deposits or other obligations of any insured depository institution (in
Page: HOUSE_OVERSIGHT_023609 →Earnings Preview
nights, HomeAway optimism, and less uncertainty on near-term estimates. GOOG, AMZN & ZG interesting 1Q sentiment stocks For large cap’s, we believe GOOGL has had high recent interest given controversy around Youtube ad placements. We are not sure if Google will provide clarity on the issue on their cal
Page: HOUSE_OVERSIGHT_014887 →charts for the securities referenced in this research report are available at http://pricecharts.baml.com, or call 1-800-MERRILL to have them mailed. LPF&S or one of its affiliates acts as a market maker for the equity securities recommended in the report: Alphabet, Amazon.com, Bankrate, Care.com, eBay,
Page: HOUSE_OVERSIGHT_014948 →; Merrill Lynch (Brazil}: Bank of America Merrill Lynch Banco Multiplo S.A., regulated by Comissao de Valores Mobiliarios; Merrill Lynch KSA Company, errill Lynch Kingdom of Saudi Arabia Company, regulated by the Capital Market Authority. This research report: has been approved for publication and is distribute
Page: HOUSE_OVERSIGHT_014949 →s and/or accredited investors (each as defined under the Financial Advisers Regulations) by Merrill Lynch International Bank Limited (Merchant Bank} (MLIBLMB) and Merrill Lynch (Singapore) (Company Registration Nos F 06872E and 198602883D respectively). MLIBLMB and Merrill Lynch (Singapore} are regulated b
Page: HOUSE_OVERSIGHT_014949 →GE BREAK --- Table 9: Summary of open trades as of 19-Jun-17 Open Open __ Expected Date Level Trade Term 6.9% (FB), 1.2% (AMZN), 9.4% (NFLX), 6.2% (GOOGL) Trade Description Rationale Buy 6m ATM calls on FB, AMZN, NFLX and GOOGL 30-May-17 Stock replace FANG stocks Buy a 6m outperformance call on FANG
Page: HOUSE_OVERSIGHT_014993 →Comissdo de erril as each i by tl ed, London he PRA and regulated by the Branch, which is authorized by the Cen ral Bank and distributed in H errill Lynch (India}; International Bank L ingapore) are regula long Kong by Merrill Lynch (H and is issued and distribu imited (Merchant Bank} (ML ed by MAS. Ba
Page: HOUSE_OVERSIGHT_014999 →or was, within the e US, retail sales and/or dis F&S or an affiliate has received F&S or an affiliate expects to re ibas, Deutsche Bank, ING Group, LPF&S together with its affiliates ownership position on he report: BNP Paribas The issuer is or was, wi ntesa, Santander. BofA Merrill Corporation, inc
Page: HOUSE_OVERSIGHT_014999 →u report: has been approved for publication and is dis RA) by MLI (UK) and Bank of America Merrill Lynch | the FCA and the PRA) by RA - details about Lynch (Japan), a registered securities dea investors and/or accredited investors pared and issued by Merrill Lynch U rael Securities Aut ores; Merrill
Page: HOUSE_OVERSIGHT_014999 →erri ry Au Federa regu Merrill Lynch 5 defined int of Ireland and subje KSA Comp he rules of FCA and the PRA, and is distributed in the UK to rill Lynch hority of h Mexico, SA de errill Lynch he | Lynch Limited, ll Lynch (Israel}: ion; Merril errill Lynch by any, ated he ct to buted in Japan
Page: HOUSE_OVERSIGHT_014999 →Entities connected to both Merrill Lynch and Google

Jeffrey Epstein
PERSON
Ghislaine Maxwell
PERSON
Marc Rich
PERSON
Donald Trump
PERSONPierce, Fenner & Smith Incorporated
ORGANIZATION
United States
LOCATION
JPMorgan Chase
ORGANIZATION
Bank of America Corporation
ORGANIZATION
Bank of America
ORGANIZATION
George W. Bush
PERSON
Michael Bloomberg
PERSON
Prince Andrew
PERSON
Richard Kahn
PERSON
Frankfurt
LOCATION
United Kingdom
LOCATION
Merrill Lynch Global Wealth Management
ORGANIZATION
Barack Obama
PERSONMerchant Bank
ORGANIZATIONThe Financial Service Board
ORGANIZATION
John F. Kennedy
PERSON