Deutsche Bank changes dates for variable coupon notes on Russell, S&P

By Angela McDaniels

Tacoma, Wash., Oct. 14 – Deutsche Bank AG, London Branch delayed the pricing and maturity dates of its upcoming securities linked to the lesser performing of the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will now price Oct. 26 and mature Oct. 29, 2021. They had been expected to price Sept. 27 and mature Sept. 30, 2021.

Interest is payable annually. If each index closes at or above its initial level on the observation date for that year, the notes will pay the 1% base coupon and the additional coupon – expected to be 7% to 9% – plus any previously unpaid additional coupons. If either index closes below its initial level on the observation date, the notes will pay only the 1% base coupon that year.

The payout at maturity will be par unless the lesser-performing index finishes below its trigger level, 50% of its initial level, in which case investors will be fully exposed to the decline of the lesser-performing index from its initial level.

Deutsche Bank Securities Inc. is the agent. CAIS Capital LLC will receive a fee of up to 2% for securities for which it acts introducing broker.

The Cusip number is 25152R5A7.

© 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.