Published on 4/2/2019 in the Prospect News Structured Products Daily.
New Issue: Deutsche Bank prices $3.84 million callable contingent yield notes linked to indexes
By Angela McDaniels
Tacoma, Wash., April 2 – Deutsche Bank AG, London Branch priced $3.84 million of callable contingent yield securities due April 3, 2029 linked to the least performing of the S&P 500 index, the Nasdaq-100 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes pay a contingent coupon at the rate of 12.5% per year if each index closes at or above its coupon barrier level, 70% of its initial level, on the observation date for that quarter.
The notes are callable at par on any coupon payment date prior to maturity.
If the notes are not called and each index finishes at or above its trigger level, 60% of its initial level, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% that the least-performing index’s final level is below its initial level.
Deutsche Bank Securities Inc. is the agent.
Issuer: | Deutsche Bank AG, London Branch
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Issue: | Callable contingent yield securities
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Underlying indexes: | S&P 500, Nasdaq-100 and Russell 2000
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Amount: | $3.84 million
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Maturity: | April 3, 2029
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Coupon: | 12.5% per year, payable quarterly if each index closes at or above coupon barrier level on observation date for that quarter
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Price: | Par
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Payout at maturity: | If each index finishes at or above trigger level, par; otherwise, 1% loss for every 1% that least-performing index declines from initial level
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Call option: | At par on any coupon payment date prior to maturity
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Initial levels: | 1,535.104 for Russell 2000, 2,815.44 for S&P 500 and 7,320.472 for Nasdaq-100
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Coupon barriers: | 1,074.573 for Russell 2000, 1,970.81 for S&P 500 and 5,124.330 for Nasdaq-100, or 70% of initial levels
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Trigger levels: | 921.062 for Russell 2000, 1,689.26 for S&P 500 and 4,392.283 for Nasdaq-100, or 60% of initial levels
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Pricing date: | March 29
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Settlement date: | April 3
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Agent: | Deutsche Bank Securities Inc.
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Fees: | 1.4%
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Cusip: | 25155MMF5
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