By Wendy Van Sickle
Columbus, Ohio, Sept. 8 – Deutsche Bank AG, London Branch priced $2.08 million of callable contingent yield notes due Sept. 7, 2022 linked to the least performing of the SPDR S&P Biotech ETF and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes pay a contingent coupon at the rate of 8.7% per year if each asset’s closing level is at or above its coupon barrier, 65% of its initial level, on the observation date that quarter.
The notes are redeemable at par on any quarterly observation date after six months.
If the notes are not called and each asset finishes at or above its trigger, 65% of its initial level, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% that the least-performing asset’s final level is below its initial level.
UBS Financial Services Inc. and Deutsche Bank Securities Inc. are the agents.
| Issuer: | Deutsche Bank AG, London Branch
|
| Issue: | Callable contingent yield notes
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| Underlying assets: | SPDR S&P Biotech ETF, Russell 2000 index
|
| Amount: | $2,075,000
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| Maturity: | Sept. 7, 2022
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| Coupon: | 8.7% per year, payable quarterly if each asset closes at or above coupon barrier on observation date that quarter
|
| Price: | Par
|
| Payout at maturity: | If each asset finishes at or above trigger, par; otherwise, 1% loss for every 1% that least-performing asset’s final level is below initial level
|
| Call option: | At par on any quarterly observation date after six months
|
| Initial index levels: | 1,413.571 for Russell 2000 and $84.62 for ETF
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| Coupon barriers: | 918.821 for Russell 2000 and $55.00 for ETF; 65% of initial levels
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| Triggers | 918.821 for Russell 2000 and $55.00 for ETF; 65% of initial levels
|
| Trade date: | Sept. 1
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| Settlement date: | Sept. 7
|
| Agents: | UBS Financial Services Inc. and Deutsche Bank Securities Inc.
|
| Fees: | 3%
|
| Cusip: | 25155MDN8
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