To: Jeffrey epstein (jeeyacation@gmail.com)[jeffrey epstein (jeeyacation©gmail.com)]; jeeyacation@gmail.com[jeeyacation@gmail.com] Cc: Paul S Barrett] Justin X Gratz .com] From: Jeffrey M Matusow Sent: Tue 3/23/2010 7:07:37 PM Subject: Trade idea Jeff, With today's back up in rates, we are selling 1 month receiver swaptions on the 30yr swap rate. The 30y swap is 4.39%. I am selling 4.35% strikes for premium of 95bps. Your breakeven at maturity is 4.29%. Give us a call Jeff Jeffrey M. Matusow JPMorgan Private Bank 140 West 57th Street. 33rd Floor. New York. NY 10019 Work. 212 622.7053 I Fax' 212 310 0108 l Eme leffrey rri matusow@ipmorgan corn IRS Circular 230 i..scipsc•- JPMorgan Chase & Co and its altihates co not pro,.;;:e tax advice Accord ng:y. any Wscuss.or S :an 'natters containEd herein (including any attachments) is not intended or written to be used. and cannot be used. in connection with the promotion. marketing or recommendation by anyone unaffiliated with JPMorgan Chase & Co. of any of the matters addressed herein or for the purpose of avoiding U.S. tax-related penalties. EFTA_R1_01496048 EFTA02427013