Published on 12/11/2017 in the Prospect News Structured Products Daily.
New Issue: Deutsche Bank sells $10 million review notes tied to three indexes
By Marisa Wong
Morgantown, W.Va., Dec. 11 – Deutsche Bank AG, London Branch priced $10 million of 0% review notes due Dec. 5, 2019 linked to the worst performing of the S&P 500 index, Russell 2000 index and Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be automatically called at par plus a call premium of 6.55% per year if each index closes at or above the call level on Dec. 6, 2018, May 24, 2019 or Dec. 2, 2019. The call level will be 100% of the initial level for the first two review dates and 75% of the initial level for the final review date.
If the least-performing index finishes at or above its trigger level, 60% of its initial level, the payout at maturity will be par. If the final level of the least-performing index is less than its trigger level, investors will lose 1% for every 1% that the least-performing index declines from its initial level.
JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC are the agents.
| Issuer: | Deutsche Bank AG, London Branch
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| Issue: | Review notes
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| Underlying indexes: | S&P 500 index, Russell 2000 index and Nasdaq-100 index
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| Amount: | $10 million
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| Maturity: | Dec. 5, 2019
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If least-performing index finishes at or above trigger level, par; otherwise, 1% loss for every 1% that least-performing index declines from initial level
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| Call: | Automatically at par plus call premium of 6.55% per year if each index closes at or above call level on Dec. 6, 2018, May 24, 2019 or Dec. 2, 2019; call level will be 100% of the initial level for the first two review dates and 75% of the initial level for the final review date
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| Initial index levels: | 2,647.58 for S&P, 1,544.141 for Russell, 6,365.564 for Nasdaq
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| Final call levels: | 1,985.69 for S&P, 1,158.106 for Russell, 4,774.173 for Nasdaq; 75% of initial levels
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| Trigger levels: | 1,588.55 for S&P, 926.485 for Russell, 3,819.338 for Nasdaq; 60% of initial levels
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| Final levels: | For each index, average of its closing levels on five trading days ending Dec. 2, 2019
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| Pricing date: | Nov. 30
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| Settlement date: | Dec. 5
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| Agents: | JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC
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| Fees: | 1.25%
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| Cusip: | 25155MGF2
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