Published on 1/18/2017 in the Prospect News Structured Products Daily.
New Issue: Deutsche Bank sells $12.58 million trigger callable notes on indexes
By Marisa Wong
Morgantown, W.Va., Jan. 18 – Deutsche Bank AG, London Branch priced $12.58 million of trigger callable contingent yield notes with daily coupon observation due July 19, 2019 linked to the worst performing of the S&P 500 index, the Russell 2000 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes will pay a contingent coupon at an annual rate of 10.4% if each index closes at or above its coupon barrier level, 65% of its initial level, on each trading day that quarter.
The notes will be callable at par on any coupon payment date prior to maturity.
The payout at maturity will be par of $10 unless any index finishes below its 55% downside threshold level, in which case investors will lose 1% for each 1% decline of the worst performing index.
UBS Financial Services Inc. and Deutsche Bank Securities Inc. are the agents.
| Issuer: | Deutsche Bank AG, London Branch
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| Issue: | Trigger callable contingent yield notes with daily coupon observation
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| Underlying indexes: | S&P 500 index, Russell 2000 index and Euro Stoxx 50 index
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| Amount: | $12.58 million
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| Maturity: | July 19, 2019
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| Coupon: | 10.4% per year, payable each quarter that each index closes at or above its coupon barrier level on each trading day that quarter
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| Price: | Par of $10
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| Payout at maturity: | Par unless any index finishes below downside threshold level, in which case 1% loss for each 1% decline of worst performing index
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| Call option: | At par quarterly prior to maturity
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| Initial levels: | 2,270.44 for S&P 500, 1,361.066 for Russell 2000 and 3.286.70 for Euro Stoxx 50
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| Coupon barriers: | 1,475.79 for S&P 500, 884.693 for Russell 2000 and 2,136.36 for Euro Stoxx 50; 65% of initial levels
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| Downside thresholds: | 1,248.74 for S&P 500, 748.586 for Russell 2000 and 1,807.69 for Euro Stoxx 50; 55% of initial levels
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| Strike date: | Jan. 12
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| Trade date: | Jan. 13
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| Settlement date: | Jan. 23
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| Agents: | UBS Financial Services Inc. and Deutsche Bank Securities Inc.
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| Fees: | 1%
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| Cusip: | 25190F848
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