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Prospect News home > News index > List of issuers F > Headlines for Ford Motor Co. > News item |
Deutsche Bank plans 7.5% STEP Income notes linked to Ford via Merrill
By Susanna Moon
Chicago, Nov. 27 - Deutsche Bank AG, London Branch plans to price 7.5% STEP Income Securities due November 2014 linked to Ford Motor Co., according to an FWP with the Securities and Exchange Commission.
Interest will be payable quarterly.
If Ford shares finish at or above the step level - 107.5% of the initial price - the payout at maturity will be par of $10 plus a step payment of 1% to 5% with the exact rate to be set at pricing.
If the shares finish at or above the initial price but below the step level, the payout will be par.
Otherwise, investors will be exposed to any losses.
BofA Merrill Lynch is the agent.
The notes will price and settle in December.
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