From: Richard Kahn Sent: Tuesday, August 16, 2016 4:49 PM To: jeffrey E. Subject: Fwd: New Issue E*TRADE Financial Preferred please advise if revised guidance is ok andrew =lso believes that based on demand we will not be able to get full =mm thank you Richard Kahn HBRK Associates Inc. 575 Lexington =venue 4th Floor Ne tel fax cell Begin forwarded message: From: =/b>"Atlas, Andrew 5" Subject: qb>RE: New Issue =•TRADE Financial Preferred Date: =/b>August 16, 2016 at 12:41:16 PM =DT To: =/b>"'Richard Kahn" Revised guidance 5.875 - 6% Still good for 5mm? Andrew S. Atlas First Vice President Equity Sales/Middle Markets Group Financial Advisor Morgan Stanley Wealth Management 1290 Avenue of the Americas, 12th Floor New York, NY 10104 Tel/Direct: EFTA_R1_00105589 EFTA01784340