Published on 3/1/2017 in the Prospect News Structured Products Daily.
New Issue: Deutsche Bank prices $2 million trigger callable contingent yield notes on indexes
By Marisa Wong
Morgantown, W.Va., March 1 – Deutsche Bank AG, London Branch priced $2 million of trigger callable contingent yield notes with daily coupon observation due March 2, 2020 linked to 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.
If each index closes at or above its coupon barrier, 65% of its initial level, on each trading day during the observation period for a quarter, the notes will pay a contingent coupon for that quarter at an annual rate of 10.3%.
The notes are callable at par on any coupon payment date prior to maturity.
The payout at maturity will be par plus the contingent coupon unless any index finishes below its 55% downside threshold, in which case investors will be fully exposed to any losses 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
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| Underlying indexes: | S&P 500, Russell 2000, Euro Stoxx 50
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| Amount: | $2 million
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| Maturity: | March 2, 2020
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| Coupon: | 10.3% per year, payable for each quarter that each index closes at or above coupon barrier on each trading day during the observation period for 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, in which case 1% loss for each 1% decline of the worst performing index
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| Call option: | At par on any coupon date other than the final date
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| Initial levels: | 3,304.09 for Stoxx, 1,394.525 for Russell, 2,367.34 for S&P
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| Coupon barriers: | 2,147.66 for Stoxx, 906.441 for Russell, 1,538.77 for S&P; 65% of initial levels
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| Downside thresholds: | 1,817.25 for Stoxx, 766.989 for Russell, 1,302.04 for S&P; 55% of initial levels
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| Strike date: | Feb. 24
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| Pricing date: | Feb. 27
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| Settlement date: | March 6
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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: | 25190J618
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