Published on 12/30/2014 in the Prospect News Structured Products Daily.
New Issue: Deutsche Bank prices $18.65 million market-linked step-up notes tied to S&P 500
By Marisa Wong
Madison, Wis., Dec. 30 – Deutsche Bank AG, London Branch priced $18.65 million of 0% market-linked step-up notes due Dec. 23, 2016 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index finishes above the step-up value – 111.7% of the initial level – the payout at maturity will be par of $10 plus the index gain.
If the index finishes at or above the initial level but at or below the step-up value, the payout at maturity will be par of $10 plus the step-up payment of 11.7%.
Investors will be exposed to any losses.
BofA Merrill Lynch is the agent.
Issuer: | Deutsche Bank AG, London Branch
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Issue: | Market-linked step-up notes
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Underlying index: | S&P 500
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Amount: | $18,647,940
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Maturity: | Dec. 23, 2016
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | If index finishes above step-up level, par plus gain; if index gains up to step-up value, par plus 11.7%; exposure to any losses
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Initial level: | 2,082.17
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Step-up value: | 2,325.78, 111.7% of initial level
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Pricing date: | Dec. 23
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Settlement date: | Jan. 2
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Agent: | BofA Merrill Lynch
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Fees: | 2%
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Cusip: | 25190A757
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