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. That should be the edge you have at looking across the range of asset classes compared to single asset class investors. We would like to thank our BofAML colleagues who have supported our product this year by providing many such ideas and trust they will continue to do so through 2017. Bankof America
Page: HOUSE_OVERSIGHT_014434 →ons reflect the different time errill Lynch is under no obligation to ensure that such other trading ideas or recommendations are brought has contr I Lynch cl have not Lynch has establ insured by the Federal Deposi of America Corpora nclusion, or information con General Investment Related Disclosur
Page: HOUSE_OVERSIGHT_014458 →Quantitative Analysis
the corporate tax rate 4 Repatriation 6 Border adjustment tax analysis 12 Closing loopholes 15 No interest tax shield 7 Tax reform screens 19 Related BofAML research on US tax reform 22 Methodology 24 2 Equity Strategy Focus Point | 29 January 2017 (pertain HOUSE_OVERSIGHT_023070 --- PAGE BREAK --- The
Page: HOUSE_OVERSIGHT_023070 →nterest are described at http://go.bofa.com/coi. ments linked to securities that may have been recommended in this report. ML instrum port. sed on I Lynch , BofA errill Lynch and are not publicly-available materials. Any unautl s Coverage Cluster. Short ation of the ideas expressed in this report may
Page: HOUSE_OVERSIGHT_023095 →o expect prices to rebound to $55/bbl by year end. In fact current levels of ~$40 are close to the summer floor ($39) they had previously suggested. BofAML strategists have turned bullish Oil & Gas equities given more CB (BoE) easing, attractive div yields and exposure to the EM recovery narrative. Moreo
Page: HOUSE_OVERSIGHT_025987 →ecurities or other financial instruments and that such o seek advice regarding the applicability of such regu ations prior to ies and instruments, I Lynch entities a.com/col. ments linked to securities that may have been recommended in this report. MLPF&S or one of its affiliates may, at any time, hol
Page: HOUSE_OVERSIGHT_026003 →Entities connected to both I Lynch and BofAML

Donald Trump
PERSON
Merrill Lynch Global Wealth Management
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Merrill Lynch
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Bank of America
ORGANIZATIONBaFin
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United Kingdom
LOCATIONMerchant Bank
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Seoul
LOCATIONPierce, Fenner & Smith Incorporated
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Frankfurt
LOCATIONMerrill Lynch Canada Inc
ORGANIZATIONthe Investment Industry Regulatory Organization of Canada
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Bank of America Corporation
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Michael Bloomberg
PERSONMerrill Lynch International Bank Limited
ORGANIZATIONThe Financial Service Board
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BANA Australia
ORGANIZATIONMerrill Lynch International
ORGANIZATIONthe Australian Securities and Investments Commission
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