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Deutsche plans two-year market-linked step up notes on S&P 500
By Jennifer Chiou
New York, Aug. 29 – Deutsche Bank AG, London Branch plans to price two-year 0% market-linked step up notes linked to the S&P 500 index, according to an FWP with the Securities and Exchange Commission.
If the index finishes at or above the initial level, the payout at maturity will be par of $10 plus the greater of the step up payment and the index return. The step up payment is expected to be 10% to 16% and will be set at pricing.
Investors will be exposed to any index decline.
The notes are expected to price in September and settle in October.
BofA Merrill Lynch is the agent.
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