New Issue: Deutsche Bank prices $650,000 knock-out notes linked to S&P 500

By Susanna Moon

Chicago, June 16 – Deutsche Bank AG, London Branch priced $650,000 of 0% knock-out notes due Dec. 14, 2016 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

A knock-out event occurs if the index ever closes below the 76.5% knockout level during the life of the notes.

If the index finishes above the initial level and a knockout event has not occurred, the payout at maturity will be par plus the gain.

If the index falls but a knockout event has not occurred, the payout will be par.

Otherwise, investors will receive par plus the index return, with full exposure to losses.

J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA are the placement agents.

Issuer:	Deutsche Bank AG, London Branch
Issue:	Knock-out notes
Underlying index:	S&P 500
Amount:	$650,000
Maturity:	Dec. 21, 2016
Coupon:	0%
Price:	Par
Payout at maturity:	If index gains and never closes below knock-out level, par plus gain; if index falls but never closes below knock-out level, par; otherwise, par plus index return, with full exposure to losses
Initial level:	2,094.11
Knockout level:	1,601.99, 76.5% of the initial level
Pricing date:	June 12
Settlement date:	June 17
Agents:	J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA
Fees:	1.25%
Cusip:	25152RH22

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.