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Deutsche Bank plans six-month capped knock-out notes on Brent crude
By Susanna Moon
Chicago, April 16 - Deutsche Bank AG, London Branch plans to price 0% capped knock-out notes due Oct. 25, 2012 linked to Brent crude futures contracts, according to an FWP with the Securities and Exchange Commission.
A knock-out event will occur if the price of Brent crude finishes below the trigger level. The knock-out buffer amount will be at least 15%.
If a knock-out event occurs, the payout at maturity will be par plus the return, with full exposure to losses.
Otherwise, the payout will be par plus the greater of the contingent minimum return of at least 7.15% and any gain on the price of Brent crude, up to a maximum return of at least 8%.
The exact deal terms will be set at pricing.
JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC are the placement agents.
The notes will price on April 20 and settle on April 25.
The Cusip number is 2515A1JH5.
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