To: Jeffrey epstein (jeevacation@gmail.com)Deffrey epstein (jeevacationegmail.com)); jeevacationegmail.com 'eevacation mail.com Cc: Barrett Tea From: Barrett, Paul S Sent Mon 9/16/2013 2:42:27 PM Subject: Switch to do Jeffrey We own $2.5MM of the PDVSA 17's in Southern Financial. I recommend the following: ▪ Sell these at 94.00 (ytm 10.83%) ▪ Switch into $2.5MM of the PDVSA 15's at 90.75 (ytm 9.97%) Slightly lower yield but we are shortening maturity to 2015. We will keep the 2MM of the 17's in Southern Trust Let me know. Paul Paul Barrett I Managing Director I Global Investment Opportunities Group 13.P. Morgan Private Bank I 320 Park Avenue, 14" Floor, New York, NY 10022 I T: F: (212) 310-0108 I NMLS IDs This email is confidential and subject to important disclaimers and conditions including on offers for the purchase or sale of securities, accuracy and completeness of information, viruses, EFTA_R1_00428705 EFTA01957212 confidentiality, legal privilege, and legal entity disclaimers, available at http://wwwjpmorgan.com/pages/disclosures/email. EFTA_R1_00428706 EFTA01957213