Published on 12/3/2013 in the Prospect News Structured Products Daily.
New Issue: Deutsche Bank prices $26.87 million 10% STEP Income Securities linked to Yahoo
By Susanna Moon
Chicago, Dec. 3 - Deutsche Bank AG, London Branch priced $26.87 million of 10% STEP Income Securities due Dec. 12, 2014 linked to Yahoo! Inc., according to an FWP filing with the Securities and Exchange Commission.
Interest will be payable quarterly.
If the stock finishes at or above the step level - 110% of the initial share price - the payout at maturity will be par of $10 plus the step payment of 3.7%.
If the stock gains by up to the step level, the payout will be par.
Otherwise, investors will be fully exposed to any losses.
BofA Merrill Lynch is the agent.
Issuer: | Deutsche Bank AG, London Branch
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Issue: | STEP Income Securities
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Underlying stock: | Yahoo! Inc. (Symbol: YHOO)
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Amount: | $26,868,450
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Maturity: | Dec. 12, 2014
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Coupon: | 10%, payable quarterly
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Price: | Par of $10
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Payout at maturity: | If stock finishes at or above the step level, par plus 3.7%; if stock gains by up to step level, par; otherwise, full exposure to any losses
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Initial price: | $36.58
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Step level: | $40.24, 110% of initial price
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Pricing date: | Nov.
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Settlement date: | Nov.
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Agent: | BofA Merrill Lynch
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Fees: | 1.75%
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Cusip: | 25155P302
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