Published on 11/28/2017 in the Prospect News Structured Products Daily.
New Issue: Deutsche Bank sells $25.24 million callable contingent yield notes on three indexes
By Marisa Wong
Morgantown, W.Va., Nov. 28 – Deutsche Bank AG, London Branch priced $25.24 million of callable contingent yield notes due Nov. 19, 2020 linked to the least performing of the Russell 2000 index, the S&P 500 index and the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes pay a contingent coupon if each index’s closing level is at or above its coupon barrier, 60% of its initial level, on the observation date that quarter. The contingent coupon rate is 7% per year.
The notes are callable at par of $10 on each quarterly observation date other than the final one.
If the notes are not called and each index finishes at or above its 60% trigger level, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% that the least-performing index’s final level is below its initial level.
Deutsche Bank Securities Inc. is the agent.
| Issuer: | Deutsche Bank AG, London Branch
|
| Issue: | Callable contingent yield notes
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| Underlying indexes: | Russell 2000, S&P 500, Dow Jones industrial average
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| Amount: | $25,235,000
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| Maturity: | Nov. 19, 2020
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| Coupon: | 7% per year, payable each quarter that each index closes at or above its coupon barrier on observation date that quarter
|
| Price: | Par
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| Payout at maturity: | If each index finishes at or above trigger level, par; otherwise, 1% loss for every 1% that least-performing index’s final level is below initial level
|
| Call option: | At par on each quarterly observation date other than final one
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| Initial index levels: | 1,486.881 for Russell, 2,585.64 for S&P, 23,458.36 for Dow
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| Coupon barriers: | 892.129 for Russell, 1,551.38 for S&P, 14,075.02 for Dow; 60% of initial levels
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| Trigger levels: | 892.129 for Russell, 1,551.38 for S&P, 14,075.02 for Dow; 60% of initial levels
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| Pricing date: | Nov. 16
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| Settlement date: | Nov. 21
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| Agent: | Deutsche Bank Securities Inc.
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| Fees: | 0.5%
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| Cusip: | 25155MFU0
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