Deutsche Bank to price CMS slope steepener notes

By Laura Lutz

Des Moines, Oct. 2 - Deutsche Bank AG, London Branch plans to price an issue of CMS slope steepener notes due Oct. 30, 2022, according to an FWP filing with the Securities and Exchange Commission.

The notes will bear interest at a fixed rate of 10% for the first year. After that, the interest rate will equal the spread of the 30-year Constant Maturity Swap (CMS) rate over the two-year CMS rate times a multiplier that is expected to be between 12 and 14.

The interest rate will be payable and reset quarterly and will be subject to a maximum of 10% and a minimum of 0%.

The notes will be callable at par plus accrued interest on any interest payment date beginning October 2008.

If the notes are not called, the payout at maturity will be par plus accrued interest.

The notes are expected to price on Oct. 25 and settle on Oct. 30.

Deutsche Bank Securities Inc. and Deutsche Bank Trust Co. Americas will be the agents.

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