Published on 1/13/2015 in the Prospect News Structured Products Daily.
New Issue: Deutsche Bank prices $6.29 million callable yield securities tied to two indexes, fund
By Toni Weeks
San Luis Obispo, Calif., Jan. 13 – Deutsche Bank AG, London Branch priced $6.29 million of callable yield securities due Jan. 12, 2018 linked to the least performing of the iShares MSCI EAFE exchange-traded fund, the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The securities will pay a contingent quarterly coupon at an annual rate of 8.15% if each component closes at or above the 60% coupon barrier level on the determination date for that quarter.
The securities are callable at par on any coupon payment date.
The payout at maturity will be par plus the contingent coupon if each component finishes at or above the 60% trigger level.
If any component falls by more than 40%, investors will be fully exposed to the decline of the worst-performing component.
Deutsche Bank Securities Inc. is the agent.
| Issuer: | Deutsche Bank AG, London Branch
|
| Issue: | Callable yield securities
|
| Underlyings: | iShares MSCI EAFE ETF, S&P 500 index, Russell 2000 index
|
| Amount: | $6.29 million
|
| Maturity: | Jan. 12, 2018
|
| Coupon: | 8.15%, payable quarterly
|
| Price: | Par
|
| Payout at maturity: | Par plus contingent coupon unless any component falls by more than 40%, in which case par plus return of worst-performing component, with exposure to losses
|
| Call option: | At par plus accrued interest, if any, on any coupon payment date beginning April 9, 2015
|
| Initial levels: | 2,044.81 for S&P 500, 1,185.676 for Russell, $59.64 for fund
|
| Coupon barrier/trigger levels: | 1,226.89 for S&P 500, 711.406 for Russell, $35.78 for fund; 60% of initial levels
|
| Pricing date: | Jan. 9
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| Settlement date: | Jan. 14
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| Agent: | Deutsche Bank Securities Inc.
|
| Fees: | 1.75%
|
| Cusip: | 25152RTV5
|
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