Epstein Secrets

eversals where projected dividend yield is highest relative to the CDS spread. We note that: « Royal Dutch Shell’s stock yield is attractive vs CDS: Shell’s projected 12m div yield is 7.5% while its CDS is 52bps (0.5%), resulting in a div yield-CDS spread of 7.0%, the highest in our screen; this suggest

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

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

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

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

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

per #26 | 30 June 2016 3S Merrill Lynch HOUSE_OVERSIGHT_016176 --- PAGE BREAK --- Metals & Mining: ambitious growth target Faisal AlAzmeh, CFA >> Merrill Lynch KSA Company [email protected] The NTP has focused on several areas relating to domestic drivers, i.e., housing, retail, trade and finance. However

icals facilities like Sadara, downstream integration at its many refineries, and potential acquisitions. The recent announcement of the US split with Shell was followed by comments that the breakup was due to different strategies by both companies with Aramco increasing its focus on petrochemicals. Petr

by the Securities and Futures Bureau; DSP Merrill Lynch (India): DSP Merrill Lynch Limited, regulated by the Securities and Exchange Board of India; PT Merrill Lynch (Indonesia): PT Merrill Lynch Indonesia, regulated by Otoritas Jasa Keuangan (OJK); Merrill Lynch (Israel): Merrill Lynch Israel Limited, regulated b

Board of Turkey; Merrill Lynch (DIFC): Merrill Lynch International (DIFC Branch), regulated by the Dubai Financial Services Authority (DFSA); Merrill Lynch (Spain): Merrill Lynch Capital Markets Espana, S.A.S.V., regulated by Comisién Nacional del Mercado De Valores; Merrill Lynch (Brazil): Bank of Ameri

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

: No [email protected] 256:38 AM (575459798) But th spell seemed to work. that I was trying to work them--

zer is said to have revived the law during his tenure as Attorney General.[6] In 2001, his office launched a Martin Act investigation against Merrill Lynch for suspected fraud.[6] When the investigation was made public, Merrill's market HOUSE_OVERSIGHT_027595 --- PAGE BREAK --- value dropped $5 billio