EFTA02482879.pdf

From: Wolf, Nicole Sent: Thursday, November 5, 2015 3:02 PM To: Brad Wechsler Cc: Barrett Team; Jeffrey Epstein (jeevacation@gmail.com) Subject: The STOXX Europe 600 Real Estate Index (SX86P) Brad, The STOXX Europe 600 Real Estate Index (SX86P) is a c=pitalization weighted index which includes European companies that are invo=ved in the real estate sector. As yields are likely to remain depressed in=the Eurozone on the back of low inflation and additional QE, we think Real estate and REITs offer an attrac=ive opportunity. The SX86P has a dividend yield of 3% vs. 10yr German bunds=which yield 45 bps. Given the continued search for yield, we would look to=do a total return swap on the index to obtain long exposure. Best, Nicole lyr STOXX Europe 600 Real Estate Index Source: Bloomberg 11/05/2015 Best, Nicole Nicole Wolf I J.P. Morgan Securitie= LLC J.P. Morgan Private Bank I JP Morgan Chase Bank, N.A. I 320 Park Ave,=Floor 14, New York, NY 10O22 I T: &nb=p; EFTA_R1_01599779 EFTA02482879 NOT AN OFFICIAL CONFIRMATION: For informational=purposes only. This report does not represent an official account of=the holdings, balances, or transactions made in your account and is being p=ovided at your request. Please refer to your monthly account statement for the official record of all of your ac=ount activities. For question, please call your J.P. Morgan represent=tive. In discussion of options and other strategies, results and risks=are based solely on hypothetical examples cited; actual results and risks w=ll vary depending on specific circumstances. Investors are urged to consider carefully whether option or option-related=products in general, as well as the products or strategies discussed herein=are suitable to their needs. In actual transactions, the client's cou=terparty for OTC derivatives applications is JPMorgan Chase Bank, N.A., and affiliates. For a copy of the "Char=cteristics and Risks of Standardized Options" booklet, please contact=your JPMorgan Advisor. This e=ail is confidential and subject to important disclaimers and conditions inc=uding on offers for the purchase or sale of securities, accuracy and completeness of information, viruses, conf=dentiality, legal privilege, and legal entity disclaimers, available at http://www.jpmorgan.com/pages/disclosu=es/email <http://www.=pmorgan.com/pages/disclosures/email> . The mat=rial on this page was prepared by an Associated Person with responsibilitie= for the marketing and sale of swaps and OTC financial derivatives. All que=tions related to swaps and OTC financial derivatives referenced in these materials must be directed to Nicole Wolf &n=sp; These i=dicative prices are provided for information purposes only, do not represen= a commitment from JPMorgan to transact at those prices, or at any price, i= the future, and are intended solely for your use. These indicative prices were created as of a specific t=me and market condition and do not represent (i) the actual terms at which=new transactions could be entered into, (ii) the actual terms at which exis=ing transactions could be liquidated or unwound, or (iii) the calculation or estimate of an amount that would be=payable following the early termination of transactions pursuant to any mas=er trading agreement to which we are parties. JPMorgan expressly disc=aims any responsibility for (i) the accuracy of the models or estimates used in deriving the prices, =(ii) any errors or omissions in computing or disseminating the prices, and&=bsp; (iii) any uses to which the prices are put. The indicative price= do not take into account any specific ISDA credit terms, client credit ratings or credit reserves or charges that migh= be relevant to a dealer negotiating a firm pricing level. Note that=the transaction that is the subject of these indicative prices does not hav= JPMorganChase credit approval. This document is not intended as investment or other advice or as a recommendati=n that you, any of your affiliates or any other person participate in any t=ansaction. It does not generally constitute an offer to buy or sell,=or a solicitation of an offer to buy or sell any security or financial instrument. This email is confidential and subject to important disclaimers and conditio=s including on offers for the purchase or sale of securities, accuracy and=completeness of information, viruses, confidentiality, legal privilege, and=legal entity disclaimers, available at http://www.jpmorgan.com/pages/disclosures/email <http://www.jpmorgan.com/p=ges/disclosures/email> <=span> 2 EFTA_R1_01599780 EFTA02482880