From: Barrett, Paul S Sent: Thursday, February 2, 2012 10:51 PM To: Jeffrey Epstein Cc: Giuffrida, David J; Ens, Amanda Subject: TO Do and Iran Jeffrey=/o:p> ao:p> I think we shou=d buy $1MM of the Ally Preferreds. This is the former GMAC. ABS contin=es to tighten which should help their business. Right now the Allys yiel= 11% ytw =o:p> On =RAN: - = You could buy a $115 WTI call option that is contingent on the SP500 be=ng below 1260 at maturity. Cost is 1.350% for 6 months OR</=pan> <=pan style="font-size:11.0pt;font-family:"Calibri","sans=serif"">- &nbs=; Buy credit defa=lt protection on Saudi Arabia for 145bps Will call to discuss =OA =p class="MsoNormal">Paul =OD Managing Di=ector Global Investment Oppor=unities Group JPMorgan Privat= Bank EFTA_R1_00081814 EFTA01770632 <=div> </=ody> This email is confidential and subject to important di=claimers and conditions including on offers for the purchase or sale of se=urities, accuracy and completeness of information, viruses, confidentialit=, legal privilege, and legal entity disclaimers, available at http://www=2Ejpmorgan.com/pages/disclosures/email. 2 EFTA_R1_00081815 EFTA01770633