From: Paul Barrett To: Jeffrey Epstein <[email protected]> CC: Richard Kahn Subject: Tax trade - small cap outperfoms large cap into year end Date: Tue, 19 Sep 2017 23:12:23 +0000 Jeffrey We did 10mm notional (spent 1.55%) on a Dec'17 Russell 2000 outperformance vs SPX option. If tax talk heats up I expect small cap catches a bid like it did back in November where it outperformed large cap by 10pct. Paul Barrett Begin forwarded message: From: "Ens, Amanda" To: "Paul Barrett" "'Richard Kahn"' Cc: "Rothberg, Justin D" , "Tome, Christine Subject: RE: **Paul, trade for sou - buy cheap RTY/SPX outperformance** Thank you for the trade. Official confirm will follow. Southern Trust Company paid $155,000 premium on $10mm notional as discussed. Initial SPX Level (SPXO) 2,506.650 Initial RTY Level (RTYO) 1,440.404 Thanks, Amanda Amanda Ens Director Bank of America Merrill Lynch Merrill Lynch, Pierce, Fenner & Smith Incorporated One Bryant Park, 5th Floor, New York NY 10036 Phone: 212.449.7781 Mobile: EFTA00665021