Published on 4/2/2018 in the Prospect News Structured Products Daily.
New Issue: Deutsche prices $39.02 million market-linked step-up notes linked to index basket
New York, April 2 – Deutsche Bank AG, London Branch priced $39.02 million of market-linked step-up notes due June 3, 2019 linked to an international equity index basket, according to a 424B2 filing with the Securities and Exchange Commission.
The basket is made up of the Euro Stoxx 50 index with a 40% weight, the FTSE 100 index with a 20% weight, the Nikkei Stock Average index, also with a 20% weight, the Swiss Market index with a 7.5% weight, the S&P/ASX 200 index, also with a 7.5% weight, and the Hang Seng index with a 5% weight.
If the basket finishes above the step-up level – 115.65% of the initial level – the payout at maturity will be par of $10 plus the basket gain.
If the basket is unchanged or gains by up to the step-up level, the payout will be par plus the step-up payment of 15.65%.
Investors will be exposed to any decline in the basket.
Merrill Lynch & Co. is the agent.
| Issuer: | Deutsche Bank AG, London Branch
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| Issue: | Market-linked step-up notes
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| Underlying indexes: | Euro Stoxx 50 index (40% weight), FTSE 100 index (20% weight), Nikkei Stock Average index (20% weight), Swiss Market index (7.5% weight), S&P/ASX 200 index (7.5% weight), and the Hang Seng index (5% weight)
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| Amount: | $39,016,830
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| Maturity: | June 3, 2019
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| Coupon: | 0%
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| Price: | Par of $10
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| Payout at maturity: | If basket finishes at or above the step-up level, par plus gain; if basket gains by up to step-up level, par plus 15.65%; otherwise, 1% loss for each 1% basket decline
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| Step-up level: | 115.65% of initial level
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| Pricing date: | March 28
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| Settlement date: | April 5
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| Underwriter: | BofA Merrill Lynch
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| Fees: | 2%
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| Cusip: | 25160N706
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