Published on 10/19/2018 in the Prospect News Structured Products Daily.
New Issue: Deutsche sells $2.09 million callable contingent yield notes tied to two indexes, one ETF
By Wendy Van Sickle
Columbus, Ohio, Oct. 19 – Deutsche Bank AG, London Branch priced $2.09 million of callable contingent interest notes due Oct. 12, 2028 linked to the least performing of the iShares MSCI Emerging Markets ETF, the Russell 2000 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 13% if each asset closes at or above its 70% interest barrier on the review date for that quarter.
The notes will be callable at par plus any contingent coupon due on any review date.
The payout at maturity will be par unless any asset finishes below its 50% trigger level, in which case investors will be fully exposed to any losses of the worst performing asset.
Deutsche Bank Securities is the agent.
| Issuer: | Deutsche Bank AG, London Branch
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| Issue: | Callable contingent interest notes
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| Underlying assets: | iShares MSCI Emerging Markets ETF, Russell 2000 index and Euro Stoxx 50 index
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| Amount: | $2.09 million
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| Maturity: | Oct. 12, 2028
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| Coupon: | 13% annualized, payable quarterly if each asset closes at or above 70% interest barrier on review date for that quarter
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| Price: | Par
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| Payout at maturity: | Par unless any asset finishes 50% trigger, in which case 1% loss for each 1% decline of worst performing asset
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| Call: | Callable at par plus any contingent coupon due on any review date
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| Initial levels: | $40.84 for ETF, 1,632.112 for Russell and 3,345.51 for Stoxx
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| Interest barriers: | $28.59 for ETF, 1,142.478 for Russell and 2,341.86 for Stoxx, 70% of initial levels
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| Trigger levels: | $20.42 for ETF, 816.056 for Russell and 1,672.76 for Stoxx, 50% of initial levels
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| Pricing date: | Oct. 9
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| Settlement date: | Oct. 12
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| Agent: | Deutsche Bank Securities
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| Fees: | 1.5%
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| Cusip: | 25155MLP4
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