Published on 8/30/2017 in the Prospect News Structured Products Daily.
New Issue: Deutsche Bank sells $1.25 million knock-out notes on S&P 500
By Marisa Wong
Morgantown, W.Va., Aug. 30 – Deutsche Bank AG, London Branch priced $1.25 million of 0% knock-out notes due Feb. 27, 2019 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index return is zero or positive, the payout at maturity will be par plus the index return.
If the index return is negative but the final index level is greater than or equal to the knock-out level, 85.3% of the initial index level, the payout will be par. Otherwise, investors will lose 1% for every 1% that the index declines from its initial level.
JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC are the placement agents.
Issuer: | Deutsche Bank AG, London Branch
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Issue: | Knock-out notes
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Underlying index: | S&P 500 index
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Amount: | $1.25 million
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Maturity: | Feb. 27, 2019
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If the index return is zero or positive, par plus the index return; if the index return is negative but the final index level is greater than or equal to the knock-out level, par; otherwise, investors will lose 1% for every 1% that the index declines from its initial level
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Initial level: | 2,443.05
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Knock-out level: | 2,083.92, 85.3% of initial level
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Final level: | Average of closing levels on five averaging dates ending Feb. 22, 2019
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Pricing date: | Aug. 25
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Settlement date: | Aug. 30
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Agents: | JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC
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Fees: | 1.25%
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Cusip: | 25155MDH1
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