Published on 7/18/2017 in the Prospect News Structured Products Daily.
New Issue: Deutsche prices $1.65 million capped return enhanced notes on SPDR S&P Bank ETF
By Wendy Van Sickle
Columbus, Ohio, July 18 – Deutsche Bank AG, London Branch priced $1.65 million of 0% capped return enhanced notes due Aug. 1, 2018 linked to the SPDR S&P Bank exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
If the fund return is positive, the payout at maturity will be par plus double the fund gain, subject to a maximum return of 22%.
Investors will be fully exposed to any losses.
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: | Capped return enhanced notes
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Underlying ETF: | SPDR S&P Bank
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Amount: | $1.65 million
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Maturity: | Aug. 1, 2018
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus double any ETF gain, subject to 22% maximum payout; if ETF return is negative, 1% loss for each 1% decline
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Initial level: | $43.78
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Final level: | Average of ETF’s closing levels on five trading days ending July 27, 2018
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Pricing date: | July 14
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Settlement date: | July 19
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Agent: | J.P. Morgan Securities LLC
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Fees: | 1%
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Cusip: | 25155MCH2
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