Published on 4/12/2017 in the Prospect News Structured Products Daily.
New Issue: Deutsche Bank prices $10 million annual review notes linked to three ETFs
By Wendy Van Sickle
Columbus, Ohio, April 12 – Deutsche Bank AG, London Branch priced $10 million of 0% annual review notes due April 13, 2020 linked to the SPDR S&P Oil & Gas Exploration & Production exchange-traded fund, Technology Select Sector SPDR fund and the SPDR S&P Bank exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be automatically called at par plus a call premium of 17.9% per year if each fund closes at or above its initial level on any of three annual review dates.
The payout at maturity will be par unless the final level of any ETF is less than 70% of the initial level, in which case investors will lose 1% for every 1% decline below the initial level of the least performing ETF.
JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC are the placement agents.
| Issuer: | Deutsche Bank AG, London Branch
|
| Issue: | Annual review notes
|
| Underlying ETFs: SPDR S&P Oil & Gas Exploration & Production exchange-traded fund, Technology Select Sector SPDR fund and the SPDR S&P Bank exchange-traded fund
|
| Amount: | $10 million
|
| Maturity: | April 13, 2020
|
| Coupon: | 0%
|
| Price: | Par of $1,000
|
| Payout at maturity: | Par if final level of each ETF is at least 70% of initial level; full exposure to decline from initial level of least performing ETF if it falls by more than 30%
|
| Call: | At par plus premium of 17.9% per year if each ETF closes at or above initial level on any annual review date
|
| Initial levels: | $37.22 for Oil & Gas, $53.06 for Technology, $42.38 for Bank
|
| Trigger levels: | $26.05 for Oil & Gas, $37.14 for Technology, $29.67 for Bank, 70% of initial price
|
| Pricing date: | April 7
|
| Settlement date: | April 12
|
| Agents: | JPMorgan Chase Bank, NA and J.P. Morgan Securities Inc.
|
| Fees: | 1.5%
|
| Cusip: | 25155MAN1
|
|
|
© 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.
