Published on 8/15/2016 in the Prospect News Structured Products Daily.
New Issue: Deutsche Bank prices $5.96 million Stars linked to S&P 500 via BofA
By Angela McDaniels
Tacoma, Wash., Aug. 15 – Deutsche Bank AG, London Branch priced $5.96 million of 0% Strategic Accelerated Redemption Securities due Aug. 25, 2017 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at par of $10 plus an annualized call premium of 9.3% if the index closes at or above its initial level on Feb. 17, 2017, May 19, 2017 or Aug. 18, 2017.
If the notes are not called, investors will have one-to-one exposure to the index’s decline at maturity.
BofA Merrill Lynch is the agent.
Issuer: | Deutsche Bank AG, London Branch
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Issue: | Strategic Accelerated Redemption Securities
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Underlying index: | S&P 500
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Amount: | $5,955,560
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Maturity: | Aug. 25, 2017
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | One-to-one exposure to index’s decline
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Call: | At par plus 9.3% per year if index closes at or above initial level on Feb. 17, 2017, May 19, 2017 or Aug. 18, 2017
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Initial index level: | 2,185.79
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Pricing date: | Aug. 11
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Settlement date: | Aug. 18
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Agent: | BofA Merrill Lynch
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Fees: | 1.25%
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Cusip: | 25156D217
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