Published on 9/29/2017 in the Prospect News Structured Products Daily.
New Issue: Deutsche Bank prices $1.01 million callable contingent yield notes linked to Russell, Euro Stoxx
By Angela McDaniels
Tacoma, Wash., Sept. 29 – Deutsche Bank AG, London Branch priced $1.01 million of callable contingent yield securities due Sept. 30, 2027 linked to the least performing of the Euro Stoxx 50 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes pay a contingent coupon at the rate of 8.35% per year if each index closes at or above its coupon barrier level, 75% of its initial level, on the observation date for that quarter.
Beginning Oct. 1, 2018, the notes are callable at par on any coupon payment date prior to maturity.
If the notes are not called and each index finishes at or above its trigger level, 60% of its initial level, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% that the lesser-performing index’s final level is below its initial level.
Deutsche Bank Securities Inc. is the agent.
| Issuer: | Deutsche Bank AG, London Branch
|
| Issue: | Callable contingent yield securities
|
| Underlying indexes: | Euro Stoxx 50 and Russell 2000
|
| Amount: | $1,005,000
|
| Maturity: | Sept. 30, 2027
|
| Coupon: | 8.35% per year, payable quarterly if each index closes at or above coupon barrier level on observation date for that quarter
|
| Price: | Par
|
| Payout at maturity: | If each index finishes at or above trigger level, par; otherwise, 1% loss for every 1% that lesser-performing index declines from initial level
|
| Call option: | Beginning Oct. 1, 2018, at par on any coupon payment date prior to maturity
|
| Initial levels: | 1,456.863 for Russell 2000 and 3,536.38 for Euro Stoxx 50
|
| Coupon barriers: | 1,092.647 for Russell 2000 and 2,652.29 for Euro Stoxx 50; 75% of initial levels
|
| Trigger levels: | 874.118 for Russell 2000 and 2,121.83 for Euro Stoxx 50; 60% of initial levels
|
| Pricing date: | Sept. 26
|
| Settlement date: | Sept. 29
|
| Agent: | Deutsche Bank Securities Inc.
|
| Fees: | 4%
|
| Cusip: | 25155MDZ1
|
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