Published on 4/12/2018 in the Prospect News Structured Products Daily.
New Issue: Deutsche Bank sells $10.62 million Accelerated Return Notes on S&P 500
By Marisa Wong
Morgantown, W.Va., April 12 – Deutsche Bank AG, London Branch priced $10.62 million of 0% Accelerated Return Notes due March 27, 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 of $10 plus triple any index gain, up to a maximum return of 17.55%. Investors will be exposed to any index decline.
BofA Merrill Lynch is the underwriter.
Issuer: | Deutsche Bank AG, London Branch
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Issue: | Accelerated Return Notes
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Underlying index: | S&P 500
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Amount: | $10,616,320
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Maturity: | March 27, 2020
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | Par plus 300% of any index gain, capped at 17.55%; exposure to any index decline
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Initial index level: | Lowest closing level during the period from and including the pricing date to and including April 30
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Final index level: | Average of index’s closing levels on five trading days ending March 24, 2020
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Pricing date: | March 28
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Settlement date: | April 5
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Underwriters: | BofA Merrill Lynch
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Fees: | 2%
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Cusip: | 25160N607
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