Published on 1/2/2018 in the Prospect News Structured Products Daily.
New Issue: Deutsche Bank sells $10 million review notes on Russell 2000, Regional Banking ETF
By Marisa Wong
Morgantown, W.Va., Jan. 2 – Deutsche Bank AG, London Branch priced $10 million of 0% review notes due Dec. 24, 2020 linked to the worse performing of the Russell 2000 index and the SPDR S&P Regional Banking exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
After one year, the notes will be automatically called at par plus a call premium of 11.8% per year if each underlying closes at or above its initial level on any semiannual review date.
If the lesser performing underlying finishes at or above its trigger level, 80% of its initial level, the payout at maturity will be par plus the digital return of 35.4%. If the final level of the lesser performing underlying is less than its trigger level, investors will lose 1% for every 1% that the lesser performing underlying declines from its initial level.
JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC are the agents.
Issuer: | Deutsche Bank AG, London Branch
|
Issue: | Review notes
|
Underlying assets: | Russell 2000 index and SPDR S&P Regional Banking ETF
|
Amount: | $10 million
|
Maturity: | Dec. 24, 2020
|
Coupon: | 0%
|
Price: | Par
|
Payout at maturity: | If lesser performing underlying finishes at or above trigger level, par plus 35.4%; otherwise, 1% loss for every 1% that lesser performing underlying declines from initial level
|
Call: | Automatically at par plus call premium of 11.8% per year if each underlying closes at or above its initial level on any semiannual review date after one year
|
Initial levels: | 1,547.107 for index, $60.17 for ETF
|
Trigger levels: | 1,237.686 for index, $48.14 for ETF; 80% of initial levels
|
Final levels: | For each underlying, average of its closing levels on five trading days ending Dec. 21, 2020
|
Pricing date: | Dec. 21
|
Settlement date: | Dec. 27
|
Agents: | JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC
|
Fees: | 1.5%
|
Cusip: | 25155MGQ8
|
|
|
|
© 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.