Epstein Secrets

has the meaning given in section 761G of the Corporations Act 2001. Germany: This material is distributed in Germany by J.P. Morgan Securities plc, Frankfurt Branch and J.P.Morgan Chase Bank. N.A., Frankton Branch which arc regulated by the Bundesanstalt fir Finanzdienstleistungsaufsicht. Hong Kong: The

Carnival Corporation (CCL), Harley-Davidson (HOG), Hertz Global Holdings, Inc. (FITZ), Norwegian Cruise Line (NCLH), Royal Caribbean Cruises (RCL), Ryman Hospitality Properties (RHP) J.P. Morgan Equity Research Ratings Distribution, as of March 31, 2014 Overweight Neutral Underweight (buy) (hold) (sell) J.P. Morgan Gl

has the meaning given in section 76ICi of the Corporations Act 2001. Germany: This material is distributed in Germany by J.P. Morgan Securities pk, Frankfurt Branch and J.P.Morgan Chase Bank, N.A., Frankfurt Branch which arc regulated by the Bundesanstalt fiir Finanzdienstleistungsaufsicht. Hong Kong: The

, Carnival Corporation (CCL), Harley-Davidson (HOG), Hertz Global Holdings, Inc. (HTZ), Norwegian Cruise Line (NCLH), Royal Caribbean Cruises (RCL), Ryman Hospitality Properties (RHP) J.P. Morgan Equity Research Ratings Distribution, as of March 31, 2014 Overweight Neutral Underweight (buy) (hold) (sell) J.P. Morgan Gl

alle Hotel Properties LHO LHO US Shaun C. Kelley Pebblebrook Hotel Trust PEB PEB US Shaun C. Kelley Penn National Gaming PENN PENN US Shaun C. Kelley Ryman Hospitality Properties RHP RHP US Shaun C. Kelley Wynn Resorts Ltd WYNN WYNN US Shaun C. Kelley UNDERPERFORM Ashford Hospitality Trust AHT AHT US Shaun C. Kelley DiamondRo

ch (DIFC) are done so in accordance with the requirements of the DFSA conduct of business rules. Bank of America Merrill Lynch International Limited, Frankfurt Branch (BAMLI Frankfurt) distributes this report in Germany and is regulated by BaFin. This research report has been prepared and issued by MLPF&S an