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Deutsche Bank plans market-linked step-up notes tied to Russell 2000
By Toni Weeks
San Luis Obispo, Calif., July 16 – Deutsche Bank AG, London Branch plans to price 0% market-linked step-up notes due August 2018 linked to the Russell 2000 index, according to an FWP with the Securities and Exchange Commission.
If the index finishes above the step-up value, 117% to 123% of the initial value, the payout at maturity will be par of $10 plus the index return. If the index is flat or increases up to the step-up value, the payout will be par plus the 17% to 23% step-up payment.
Investors will receive par if the index falls by up to 5% and will lose 1% for each 1% index decline beyond the 5% buffer.
The exact terms will be set at pricing.
The notes are expected to price and settle in August.
BofA Merrill Lynch is the agent.
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