From: Jeffrey Epstein <[email protected]> To: "Barrett, Paul S" Subject: Re: To Do: BRL step-up note - closing today Date: Tue, 12 Mar 2013 18:13:45 +0000 call me after close On Tue, Mar 12, 2013 at 12:35 PM, Barrett, Paul S > wrote: Hi Jeffrey Left you a vm. I do think we should put some money into this note. Being long brl Into the World Cup makes sense. Domestic inflation should allow them to allow minor fx appreciation. And they will likely hike 150bps this year. We don't have much Latam fx exposure. Our MXN is working well. I think we should do lmm in southern trust. Paul Sent with Good (www.good.com) Original Message----- From: Ens, Amanda Sent: Tuesday, March 12, 2013 09:39 AM Eastern Standard Time To: Jeffrey Epstein Cc: Barrett, Paul S Subject: To Do: BRL step-up note - closing today Jeffrey, With the Brazilian policy rate at 7.25% and rate hikes increasingly likely in an effort to stem inflation, we remain structurally bullish on the Brazilian real due to the attractive carry. Paul recommends you invest $2mm in this BRL currency note. HSBC-issued BRL Step-up Note Tenor: 53 weeks At expiry barrier protection: 15% ATMS strike coupon: 5% EFTA00956360