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Deutsche Bank plans to price knock-out notes linked to S&P 500
By Marisa Wong
Morgantown, W.Va., Nov. 12 – Deutsche Bank AG, London Branch plans to price 0% knock-out notes due May 24, 2017 linked to the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.
A knock-out event will occur if the final index level is less than the knock-out level, 83.8% of the initial level.
If the final level is greater than or equal to the initial level, the payout at maturity will be par plus the index return.
If the final level is less than the initial level but a knock-out event has not occurred, the payout will be par.
Otherwise, investors will be fully exposed to the index decline.
JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC are the placement agents.
The notes will price Nov. 13 and settle Nov. 18.
The Cusip number is 25152RT86.
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