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Deutsche Bank plans 15-year CMS spread range notes
By Jennifer Chiou
New York, May 18 - Deutsche Bank AG, London Branch plans to price Constant Maturity Swap (CMS) spread range notes due May 24, 2022, according to an FWP filing with the Securities and Exchange Commission.
The notes will pay 8% interest for the first year.
After the first year, the interest payment will be the 8% base interest rate multiplied by the proportion of days on which the 30-year CMS rate is higher than the two-year CMS rate.
Interest will be payable quarterly.
The notes will be callable in whole at par on any interest payment date.
The notes will price May 21 and settle May 24.
Deutsche Bank Securities Inc. and Deutsche Bank Trust Co. Americas will be the agents.
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