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h Personnel (including the analyst(s) responsible for this report) receive compensation based upon, among other factors, the overall profitability of Bank of America Corporation, including profits derived from investment banking. The analyst(s) responsible for this report may also receive compensation based upon, a
Page: HOUSE_OVERSIGHT_014729 →(Merchant Bank} America N.A, Aust! nse 235132 (MLEA) distribute this repor' Authority. No approval is required DIFQ is authorized and regula rules. Bank of America Merrill Lynch Internati he future distribute, researc e Hong Kong Securities and errill Lynch (Taiwan): Merrill Exchange Board of India; PT y; Merri (DIFC Branch), regula
Page: HOUSE_OVERSIGHT_014729 →which is regu jon in Hong Kong and are not directed to, or Lynch (Taiwan); is issued and distributed in India by DSP Merrill Advisers Regulations) by Merrill Lynch Interna dd 198602883D respectively). MLIBLMB and Merrill Lynch (Singapore) are ralia) and Merrill Lynch Equities (Australia) Limited (ABN 65 006 276 795), AF
Page: HOUSE_OVERSIGHT_014729 →one or more o istributed to F&S and not such K): Merrill Lynch In d, regulated by the A mmission (HKSFC); ated by t
h Personnel (including the analyst(s) responsible for this report) receive compensation based upon, among other factors, the overall profitability of Bank of America uding profits derived from investment banking. The analyst(s) responsible for this report may also receive compensation based upon, among other factor
Page: HOUSE_OVERSIGHT_023609 →LP iliates d hority; Lynch International (DIFC Branch), regulated by t ores; Merrill Lynch (Brazi bia Company, regu n and is d PRA) by MLI (UK) and Bank of America Merrill Lynch Intern (as defined in the rules o Financial | Lynch (Ti ned under the Financia and 198602883D respec Lynch }: Bank he Capi by Merrill xtent of our al
Page: HOUSE_OVERSIGHT_023609 →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 involved in preparing this research report is an pproval is required for publ
Page: HOUSE_OVERSIGHT_023609 →Investment Strategy
ined under the Financial Advisers Regulations) by Merrill Lynch Interna Bank Limited (Merchant Bank} (MLIBLMB} and Merrill
h Personnel (including the analyst(s) responsible for this report) receive compensation based upon, among other factors, the overall profitability of Bank of America Corporation, including profits derived from investment banking. The analyst(s) responsible for this report may also receive compensation based upon, a
Page: HOUSE_OVERSIGHT_014408 →errill Lynch (Singapore) (Company Registration Nos F 06872E and 198602883D respectively). MLIBLMB and Merrill Lynch (Singapore} are regulated by MAS. Bank of America N.A, Australian Branch (ARBN 064 874 531), AFS License 412901 (BANA Australia) and Merrill Lynch Equities (Australia) Limited (ABN 65 006 276 795), AFS L
Page: HOUSE_OVERSIGHT_014408 →o F&S and not such ributed in the Uni ntern K): Merrill Lynch In d, regulated by the A mmission (HKSFC); ated by t
vestment decision. Refer to important disclosures on page 28 to 29. Analyst Certification on page 27. 11756528 Timestamp: 20 June 2017 01:18AM EDT Bankof America Merrill Lynch 20) une 2017 Equity Derivatives Glob. al BofA Analytics = DATA DRIVEN = Global Equity Derivatives Rsch MLPI F&S Anshul Gupta
Page: HOUSE_OVERSIGHT_014972 →most recently available data which may be delayed in some cases. “Trade Value” represents current valuation of trades initiated on the “Open Date”. Bankof America Merrill Lynch Global Equity Volatility Insights | 20 June 2017. 25 HOUSE_OVERSIGHT_014996 --- PAGE BREAK --- Volatility in Numbers (16-Jun-17) Table 11: Stati
Page: HOUSE_OVERSIGHT_014997 →uted in the Uni errill Lynch Interna the PRA) by Merrill Lynch Interna ut the extent of our regulation by jon in relati
of America Merrill Lynch Internati prepared and issued by M he Comisién Nacio' u Exc e hange Board of (DIFC Branch), re De Valores; Merrill iAra p nd Bank of America es of the FCA and PRA - details abo ies dealer u nd ri jon ed in Singa LIBLMB) an pore t ( ute this repor iono rts of its non-US af security d
Page: HOUSE_OVERSIGHT_014422 →Estimate Change
Valores Mobiliarios; Merrill Lynch KSA Company, Merrill Lynch In Bank Limited (Merchant Bank} (MLIBLMB) and Merrill
h Personnel (including the analyst(s) responsible for this report) receive compensation based upon, among other factors, the overall profitability of Bank of America Corporation, including profits derived from investment banking. The analyst(s) responsible for this report may also receive compensation based upon, a
Page: HOUSE_OVERSIGHT_014884 →Entities connected to both Bank of America and Merrill Lynch Interna

United States
LOCATION
Marc Rich
PERSON
Donald Trump
PERSON
Merrill Lynch
ORGANIZATION
Bank of America Corporation
ORGANIZATION
United Kingdom
LOCATIONPierce, Fenner & Smith Incorporated
ORGANIZATION
Michael Bloomberg
PERSONDoug Band
PERSON
U.S. Treasury
ORGANIZATION
Merrill Lynch Global Wealth Management
ORGANIZATION
BofA Merrill Lynch
ORGANIZATIONMerchant Bank
ORGANIZATIONMerrill Lynch International Incorporated
ORGANIZATION
Frankfurt
LOCATIONthe Central Bank of Ireland
ORGANIZATIONThe Financial Service Board
ORGANIZATIONMerrill Lynch Canada Inc
ORGANIZATION
Seoul
LOCATIONOtoritas Jasa Keuangan
ORGANIZATION