From: Paul Barrett To: Jeffrey Epstein leeyacation@gmail.com> CC: Richard Kahn Subject: Ally A Pfds Date: Wed, 02 Jan 2019 20:49:23 +0000 Inline-Images: image003.png; image002.jpg Jeffrey We own $2mm of the Ally A Pfds. • Purchase date: Feb 2012 88 523.53 • Currently at $25.55 down from $26.50. • They pay 3 month Libor + 578bps (so 840% current coupon) • It is callable anytime at $25.00 however this is a unique structure in that It gets regulatory capital treatment but also allows Ally to take an interest deduction. Therefore lPM and MS doubt It gets called. • It is ordinary income. So I think you should consider buying it in Gratitude (currently has around 51.5MM in cash). Paul s. Paul Barrett Alpha Group Capital LLC New York, NY 10019 o) (c) EFTA01009643