Published on 1/11/2018 in the Prospect News Structured Products Daily.
New Issue: Deutsche Bank prices $5 million buffered return enhanced notes on S&P
By Marisa Wong
Morgantown, W.Va., Jan. 11 – Deutsche Bank AG, London Branch priced $5 million of 0% buffered return enhanced notes due Jan. 14, 2020 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus 2 times any index gain, subject to a maximum return of 17.4%.
If the index falls by up to 10%, the payout will be par. Otherwise, investors will lose 1.11111% for every 1% decline beyond the 10% buffer.
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: | Buffered return enhanced notes
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Underlying index: | S&P 500
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Amount: | $5 million
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Maturity: | Jan. 14, 2020
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 2 times any index gain, capped at 17.4%; par if index falls by up to 10%; otherwise, 1.11111% loss for every 1% decline beyond the 10% buffer
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Initial index level: | 2,751.29
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Final level: | Average of the index closing levels on the five trading days ending Jan. 9, 2020
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Pricing date: | Jan. 9
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Settlement date: | Jan. 12
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Agents: | JPMorgan Chase Bank, NA and J.P. Morgan Securities Inc.
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Fees: | 1.25%
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Cusip: | 25155MHG9
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