Deutsche Bank plans to price range accrual notes linked to six-month Libor

By E. Janene Geiss

Philadelphia, Nov. 2 - Deutsche Bank AG, London Branch plans to price an issue of range accrual notes due Nov. 29, 2022 linked to six-month Libor, according to an FWP filing with the Securities and Exchange Commission.

The notes are expected to price Nov. 26 and settle Nov. 29.

Interest is payable quarterly.

For the first six months, the notes will bear interest at 7% to 7.5% per year with the exact coupon determined at pricing. After that, interest will be reset quarterly and will equal 7% to 7.5% per year multiplied by the proportion of days on which six-month Libor is equal to or less than 7%.

The notes are callable on any interest payment date beginning Nov. 29, 2008 at par plus accrued interest.

Deutsche Bank Securities Inc. and Deutsche Bank Trust Co. Americas are the underwriters.

© 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.