Simply go to either All Content Items or Static Content Manager, then click on the "NEW" button as you were going to create a new content page, write your newsletter, then click on the "Source":
When you click on the "Source" button, you can see the HTML code,
IMPORTANT: if you have used images as we did for the example, have a look carefully where it says "src=" this where the image is, you have to write manually your web address like this "http://www.yourwebsite.com" then the addres of the image for this example will be "http://www.yourwebsite.com/images/stories/clock.jpg".
NOTE: if you send the newsletter with incomplete links or images linking to your local computer, the users won't get the images of your newsleter.
Once you have done the changes for the images, open "Windows or Mac Notepad", copy all the HTML content and paste it into this new text doccument, This is the HTML content you need to use as message for your newsletter.