e Ratio: our Upside Case yields a price target of —$24 (+140%) and our Downside Case yields a price target of —$7 (-31%). which implies a favorable Upside / Down- side Ratio of 4.5x. Key Risks: Potential sell-off of Upstream Co post spin-off for uneconom- ic reasons • Security is mispriced today due

I think they are worth discussing further. Implementation Vehicle Structured Product (CBEN*) Tenor [52-54) weeks Coupon 3.00% Cap [13-151% Upside Partic./Adj. Factor 100% Protection (%) (80 - 821% Protection (Type) Contingent, At Maturity Callable N/A Other Features *CBEN is an acronym