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Deutsche Bank plans 8.5% STEP Income Securities tied to Ford Motor
By Tali Rackner
Norfolk, Va., Jan. 5 – Deutsche Bank AG, London Branch plans to price STEP Income Securities due January 2017 linked to the common stock Ford Motor Co., according to an FWP filing with the Securities and Exchange Commission.
Interest is expected to be at least 8.5% and will be payable quarterly.
If the stock finishes at or above the 108.5% step level, the payout at maturity will be par of $10 plus the step payment of 1% to 5%.
The exact interest and step rates will be set at pricing.
Investors will be exposed to any losses.
BofA Merrill Lynch is the agent.
The notes will price and settle in January.
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