Deutsche Bank to price leveraged notes linked to offshore renminbi

By Angela McDaniels

Tacoma, Wash., Aug. 12 – Deutsche Bank AG, London Branch plans to price 0% leveraged notes due Sept. 3, 2015 linked to the performance of the offshore Chinese renminbi relative to the dollar, according to an FWP filing with the Securities and Exchange Commission.

The currency performance will be positive if the offshore renminbi strengthens relative to the dollar and negative if it weakens relative to the dollar. The final spot rate will be the average of the spot rates on the five trading days ending Aug. 28, 2015.

If the currency performance is greater than zero, the payout at maturity will be par plus 3.2 times the currency performance. If the currency performance is less than zero but is greater than negative 5%, investors will have one-to-one exposure to the decline. If the currency performance is less than or equal to negative 5%, the payout will be 95% of par.

JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC are the agents.

The notes are expected to price Aug. 15 and settle Aug. 20.

The Cusip number is 25152RNV1.

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