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Deutsche Bank to price performance securities linked to S&P 500
By Angela McDaniels
Tacoma, Wash., Dec. 8 - Deutsche Bank AG, London Branch plans to price 0% performance securities with contingent protection due Dec. 31, 2013 linked to the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.
The payout at maturity will be par of $10 plus 100% to 110% of any index gain, with the exact participation rate to be set at pricing.
If the final index level is greater than or equal to the trigger level - 50% of the initial level - then the payout will be par. If the final index level is below the trigger level, then the payout will be par plus the final index return.
The notes are expected to price on Dec. 23 and settle on Dec. 31.
UBS Financial Services Inc. and Deutsche Bank Securities Inc. are the underwriters.
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