From: Shahzad Shahbaz To: Jeffrey E. <jeevacahon gmai .com> Subject: RE: Investment Structures Sent: Sunday, May 22, 2016 11:09:56 AM As requested; • List of Fixed Income Names # Bucket Reference Entity Type Weight Sy CDS Spread Moody's S&P Fitch 1 2 Sovereign Portuguese Republic Federation of Malaysia Senior Senior 5.00% 5.00% 275 146 Sal A3 BB+ A- BB+ A- 3 Autos General Motors Co Senior 5.00% 210 BBB- BBB- 4 Volkswagen AG Senior 5.00% 162 A3 888+ BBB+ 5 Commodity Petroleos Mexicanos Senior 5.00% 350 Baa3 BBB+ BBB+ 6 Producer Rio Tinto Ltd Senior 5.00% 175 Baal A- A- 7 BHP Billiton Ltd Senior 5.00% 158 A3 A A+ 8 ConocoPhillips Senior 5.00% 170 Baa2 A A- 9 Repsol SA Senior 5.00% 265 Baa2 BBB- BBB 10 Consumer Staples Tesco PLC Senior 5.00% 265 BB+ BB+ EU Financials Banco Bilbao Vizcaya 11 (sub) Argentaria SA Subordinated 5.00% 265 Baa3 BBB+ 12 Banco Santander SA Subordinated 5.00% 265 Baa2 BBB+ 13 Standard Chartered Bank Subordinated 5.00% 275 A3 A 14 Assicurazioni Generali SpA Subordinated 5.00% 240 Baa3 BBB4 15 Societe Generale SA Subordinated 5.00% 185 Baa3 A- 16 Royal Bank of Scotland Plc Subordinated 5.00% 255 Bat BBB 17 BNP Paribas SA Subordinated 5.00% 160 Baa2 A EFTA_R1_00025055 EFTA01737983