From: 7 i Subject: Fwd: Equity ideas Date: Mon, 23 Jun 2014 10:36:51 +0000 Attachments: Healthcare.zip; Defense.zip; Cable.zip; European Banks 06102014.pdf; M468 _- SG_18M_SPX_ Market _Plus_062014.pdf; Travel.zip; Energy.zip; M481 - _CS_24M_SX7E_Market Plus _062014.pdf did you print this out for JE? Begin forwarded message: From: "Barrett, Paul S" <j Subject: Equity ideas Date: June 19, 2014 2:37:10 PM EDT To: a — Please print out for JE. Thx As a proposal for $50,000,000 equity investment, please find our top seven themes below with the recommended allocation. Would only average in over a 4 week period to take advantage of any summer volatility. SPX Market Plus Note (20%) Tenor: 18 month Issuer: SocGen Contingent Barrier: 19.90% Coupon: 0% Max Return: Uncapped Healthcare (20%) Rating JPMS Target MERCK & CO. INC. MRK Ow $64.00 ROCHE ROG $280.00 HUMANA HUM $150.00 BRISTOL-MYERS SQUIBB CO BMY Ow $60.00 GILEAD SCIENCES ow $100.00 Energy (20%) Name nee sare JPMS Target CONTINENTAL RESOURCES INC/OK $154.00 CABOT OIL & GAS CORP $45.00 HALLIBURTON CO HAL OW $78.00 SCHLUMBERGER LTD SLB ow $125.00 EFTA00367439

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LYONDELLBASELL INDU-CL A ow $109.00 WESTLAKE CHEMICAL CORP WILK ow $80.00 U.S. Defense Contractors (10%) Name Ticker Rating JPMS Target LOCKHEED MARTIN CORP LM N $144.00 BOEING CO/THE BA OW $167.00 NORTHROP GRUMMAN CORP NOC $108.00 RAYTHEON COMPANY RTN $88.00 GENERAL ELECTRIC GE N $27.00 Cable Consolidation (10%) [Name «id Ticker‘ Rating PMS Target | [DISH NETWORKCORPA_____[DSH__[ow | $72.00 Travel Consolidation (10%) Rating JPMS Target HERTZ GLOBAL HOLDINGS INC HTZ Ow $32.00 AVIS BUDGET GROUP INC CAR $59.00 DELTA AIR LINES INC ow $54.50 AAL AMERICAN AIRLINES GROUP INC ow $57.50 STARWOOD HOTELS & RESORTS HOT OW $87.00 MARRIOTT INTERNATIONAL -CLA MAR Ow $70.00 EuroStoxx Banks Index (SX7E) Market Plus Note (10%) Improving outlook for European bank lending and net interest income with new TLTRO program which allows banks to borrow up to €400 bn in first wave and up to 3x the increase in net lending in the second wave. Tenor: 2yr Issuer: CS Barrier at expiry: 15% Coupon: 6% Max Return: Uncapped Paul Barrett | Managing Director | Global Investment Opportunities Group | J.P. Morgan Securities LLC | J.P. Morgan Private Bank | J.P. Morgan Chase Bank N.A. 320 Park Avenue, 14" Floor, New York, NY 10022 | T: [AS | -: TS | SiS 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 provided at your request. Please refer to your monthly account statement for the official record of all of your account activities. For question, please call your J.P. Morgan representative. EFTA00367440

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