From: Richard Kahn < Sent: Thursday, October 13, 2016 2:03 PM To: Jeffrey Epstein Subject: Fwd: Update on Saudi bond Richard Kahn HBRK Associa=es Inc. 575 Lexington Avenue, 4th Fl=or New York, NY 10022 Phone- Fax 646.350.0954 Cell Begin forwarded message: From: "Ens, Amanda" mailto: Date: October 13, 2016 a= 9:58:42 AM EDT To: Richard Kahn < mailto: Subject: Update o= Saudi bond 09:39:30 Saudi Bond Pricing Expectations: Qatar, SECO=Seen as Benchmarks By Archana Narayanan (Bloomberg) -- "Saudi Arabia realistically sh=uld come in between" the curves of Qatar and state-run Saudi Electr=city Co., says Richard Segal, debt strategist at Manulife Asset Management i= London. Kingdom "may have to give up some concession to print the siz= required" NOTE: Deal could raise at least Slob across tranches,=people familiar with the matter said Avg. of expected spreads above midswaps from a Bloomb=rg poll of eight fund managers: 5yr: 153.7 bps (range: 130 - 170 bps) 10yr: 196 bps (range: 170. 215 bps) EFTA_R1_01544553 EFTA02447509

30yr: 283.6 bps (range: 250 - 330 bps) 09:39:44 Looks like next weeks blockbuster=/p> Source: Bloomberg Amanda Ens Director Bank of America Merrill=Lynch Merrill Lynch, Pierce, =enner & Smith Incorporated One Bryant Park, 5th Fl=or, New York, NY 10036 Phone: Mobile: <mailtoa This message, and any attachments, is for the intended recipient(s) only= may contain information that is privileged, confidential and/or proprietar= and subject to important terms and conditions available at http://www.bankofamerica.com/email=isclaimer. If you are not the intended recipient, please delete this m=ssage. 2 EFTA_R1_01544554 EFTA02447510