Published on 9/26/2017 in the Prospect News Structured Products Daily.
New Issue: Deutsche Bank prices $15 million annual review notes linked to European indexes
By Angela McDaniels
Tacoma, Wash., Sept. 26 – Deutsche Bank AG, London Branch priced $15 million of 0% annual review notes due Sept. 24, 2020 linked to the worst performing of the CAC 40 index, the FTSE MIB index and the IBEX 35 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be automatically called at par plus a call premium of 10.32% per year if each index closes at or above its initial level on either annual review date.
If the least-performing index finishes at or above its trigger level, 70% of its initial level, the payout at maturity will be par plus 30.96%. If the final level of the least-performing index is less than its trigger level, investors will lose 1% for every 1% that the least-performing index declines from its initial level.
JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC are the agents.
| Issuer: | Deutsche Bank AG, London Branch
|
| Issue: | Annual review notes
|
| Underlying indexes: | CAC 40 index, FTSE MIB index and IBEX 35 index
|
| Amount: | $15 million
|
| Maturity: | Sept. 24, 2020
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If least-performing index finishes at or above trigger level, par plus 30.96%; otherwise, 1% loss for every 1% that least-performing index declines from initial level
|
| Call: | Automatically at par plus call premium of 10.32% per year if each index closes at or above initial level on Oct. 5, 2018 or Sept. 23, 2019
|
| Initial index levels: | 5,281.29 for CAC 40, 22,530.83 for FTSE MIB and 10,305.00 for IBEX 35
|
| Trigger levels: | 3,696.90 for CAC 40, 15,771.58 for FTSE MIB and 7,213.50 for IBEX 35; 70% of initial levels
|
| Final levels: | For each index, average of its closing levels on five trading days ending Sept. 21, 2020
|
| Pricing date: | Sept. 22
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| Settlement date: | Sept. 27
|
| Agents: | JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC
|
| Fees: | 1.75%
|
| Cusip: | 25155MDX6
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