Epstein Secrets

: Confidential FYI, meant to CC you. Will add you if they come back. Thanks, Vahe From: Vahe Stepanian Sent: Monday, March 28, 2016 1:20 PM To: Richard Kahn Cc: Daniel Sabba; Ariane Dwyer EFTA01477769 Subject: RE: Brazil trade idea [C] Classification: Confidential Rich — indicatively, Southern Finan

Sent: Monday, March 28, 2016 1:20 PM To: Richard Kahn Cc: Daniel Sabba; Ariane Dwyer EFTA01477769 S

INANCE Underlying Issuer: Federative Republic of Brazil ISIN: US71645WAR25 Maturity: 06/20/21 Ratings: B3/B+/BB+ Coupon: 100 bps Ranking: Sr Unsecured Spread: 396 bps EFTA01477771 Richard Kahn HBRK Associates Inc. 575 Lexington Avenue 4th Floor New York, NY 10022 tel fax cel EFTA01477772

: Confidential FYI, meant to CC you. Will add you if they come back. Thanks, Vahe From: Vahe Stepanian Sent: Monday, March 28, 2016 1:20 PM To: Richard Kahn Cc: Daniel Sabba; Ariane Dwyer Subject: RE: Brazil trade idea [C] Classification: Confidential Rich — indicatively, Southern Financial can purcha

Sent: Monday, March 28, 2016 1:20 PM To: Richard Kahn Cc: Daniel Sabba; Ariane Dwyer Subject: RE: Bra

ing Issuer: Federative Republic of Brazil EFTA01477766 ISIN: US71645WAR25 Maturity: 06/20/21 Ratings: B3/B+/BB+ Coupon: 100 bps Ranking: Sr Unsecured Spread: 396 bps Richard Kahn HBRK Associates Inc. EFTA01477767 EFTA01477768

: Confidential FYI, meant to CC you. Will add you if they come back. Thanks, Vahe From: Vahe Stepanian Sent: Monday, March 28, 2016 1:20 PM To: Richard Kahn Cc: Daniel Sabba; Ariane Dwyer Subject: RE: Brazil trade idea [C] Classification: Confidential Rich — indicatively, Southern Financial can purcha

Sent: Monday, March 28, 2016 1:20 PM To: Richard Kahn Cc: Daniel Sabba; Ariane Dwyer Subject: RE: Bra

ing Issuer: Federative Republic of Brazil ISIN: US71645WAR25 Maturity: 06/20/21 Ratings: EFTA01477763 B3/B+/BB+ Coupon: 100 bps Ranking: Sr Unsecured Spread: 396 bps Richard Kahn HBRK Associates Inc. 575 Lexington Avenue 4th Floor EFTA01477764

: BRL Trade Idea when sent to brad pricing was 83 and spread 396 currently via vahe below price is 82 and spread 380 x =85 please advise thank =ou Richard Kahn HBRK Associates Inc. 575 Lexington =venue 4th Floor New York, NY 10022 tel =12-971-1306 fax 646-350.0954 cell =17-414-7584 Begin forwarded mes

pread 380 x =85 please advise thank =ou Richard Kahn HBRK Associates Inc. 575 Lexington =venue 4th F

INANCE Underlying Issuer: Federative =epublic of Brazil ISIN: US7164SWAR25 Maturity: 06/20/21 Ratings: 83/B+/BB+ Coupon: 100 bps Ranking: Sr Unsecured Spread: 396 bps 2 EFTA_R1_00122966 EFTA01792265 Begin forwarded message: From: =/b>"jeffrey E." <[email protected]> Subject: =/b>Fwd: BR

From: jeffrey E. <[email protected]> Sent: Thursday, March 24, 2016 7:26 PM To: Richard Kahn Subject: Fwd: BRL Trade Idea Forwarded messag= From: Barrett, Paul S <mailto: Date: Thu, Mar 24, 2=16 at 3:02 PM Subject: BRL Trade Idea To

: Thursday, March 24, 2016 7:26 PM To: Richard Kahn Subject: Fwd: BRL Trade Idea Forwarded messa

INANCE Underlying Issuer: Federative Republic of Brazil ISIN: US71645WAR25 Maturity: 06/20/21 Ratings: B3/B+/BB+ Coupon: 100 bps Ranking: Sr Unsecured Spread: 2 EFTA_R1_01577232 EFTA02467913 396 bps Price: $83.00 Upfront Pmt (per $10mm): - 1,329,935 USD YTW: 9.88% Initial DV01 (per $10m