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Deutsche Bank plans 15-year CMS spread range notes
New York, June 5 - Deutsche Bank AG, London Branch plans to price Constant Maturity Swap (CMS) spread range notes due June 29, 2022, according to an FWP filing with the Securities and Exchange Commission.
The notes will pay a fixed rate of interest for the first year. The level will be at least 7.15% and no more than 7.65%.
After the first year, the interest payment will be the base interest rate multiplied by the proportion of days on which the 30-year CMS rate is higher than the two-year CMS rate. The base rate will be at least 7.15% and no more than 7.65%.
Interest will be payable quarterly.
The notes will be callable in whole at par on any interest payment date from June 2008 onwards.
The notes will price June 26 and settle June 29.
Deutsche Bank Securities Inc. and Deutsche Bank Trust Co. Americas will be the agents.
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