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Deutsche Bank plans trigger step performance notes linked to S&P 500
By Susanna Moon
Chicago, Aug. 5 - Deutsche Bank AG, London Branch plans to price 0% trigger step performance securities due Aug. 31, 2017 linked to the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.
If the index finishes at or above the initial level, the payout at maturity will be par of $10 plus the greater of any index gain and the step return, which is expected to be 22.5% to 27.25% with the exact level to be set at pricing.
Investors will receive par if the index falls by up to 20% and will be fully exposed to any losses if the index finishes below the 80% trigger level.
Deutsche Bank Securities Inc. and UBS Financial Services Inc. are the agents.
The notes will price on Aug. 27 and settle on Aug. 30.
The Cusip number is 25155L780.
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