Deutsche talks $300 million five-year notes linked to Voya to yield 0.5% to 1%, up 27.5% to 32.5%

By Abigail W. Adams

Portland, Me., March 8 – Deutsche Bank AG, London Branch plans to price $300 million in five-year cash-settled equity-linked notes tied to Voya Financial, Inc. stock after the market close on Thursday with price talk for a coupon of 0.5% to 1% and an initial conversion premium of 27.5% to 32.5%, according to a market source.

Deutsche Bank Securities Inc. is the sole bookrunner for the offering.

The notes mature on May 1, 2023 and are expected to pay interest semi-annually.

The notes may not be exchanged or redeemed prior to maturity and will be settled in cash.

The notes will be issued with a minimum purchase of $100,000 and in denominations of $1,000. Settlement is expected on March 13.

Deutsche Bank AG, London Branch is a subsidiary of Deutsche Bank AG, a Frankfurt, Germany-based global banking and financial services company.

Voya Financial is a New York, New York-based investment and insurance company.

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