Published on 6/26/2017 in the Prospect News Structured Products Daily.
New Issue: Deutsche Bank prices $2.91 million callable contingent yield notes linked to three indexes
By Angela McDaniels
Tacoma, Wash., June 26 – Deutsche Bank AG, London Branch priced $2.91 million of callable contingent yield securities due Dec. 29, 2020 linked to the least performing of the Euro Stoxx 50 index, the FTSE 100 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 8.875% per year if each index closes at or above its barrier level, 65% of its initial level, on the observation date for that quarter.
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 barrier level, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% that the least-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, FTSE 100 and Russell 2000
|
| Amount: | $2,905,000
|
| Maturity: | Dec. 29, 2020
|
| Coupon: | 8.875% per year, payable quarterly if each index closes at or above barrier level on observation date for that quarter
|
| Price: | Par
|
| Payout at maturity: | If each index finishes at or above barrier level, par; otherwise, 1% loss for every 1% that least-performing index declines from initial level
|
| Call option: | At par on any coupon payment date prior to maturity
|
| Initial levels: | 7,439.29 for FTSE 100, 1,404.538 for Russell 2000 and 3,555.76 for Euro Stoxx 50
|
| Barrier levels: | 4,835.54 for FTSE 100, 912.950 for Russell 2000 and 2,311.24 for Euro Stoxx 50; 65% of initial levels
|
| Pricing date: | June 22
|
| Settlement date: | June 27
|
| Agent: | Deutsche Bank Securities Inc.
|
| Fees: | 1.75%
|
| Cusip: | 25155MBW0
|
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