By Marisa Wong
Madison, Wis., Oct. 3 – Deutsche Bank AG, London Branch priced $2.83 million of 0% step-up digital return notes due March 31, 2016 linked to the Mexican peso relative to the euro, according to a 424B2 filing with the Securities and Exchange Commission.
If the currency return is greater than or equal to 2%, the payout at maturity will be par plus the high digital return of 20%.
If the currency return is greater than or equal to zero but less than 2%, the payout will be par plus the low digital return of 5%.
Investors will receive par if the currency falls by up to 10%.
Otherwise, investors will be fully exposed to any losses.
JPMorgan Chase Bank, N.A. and J.P. Morgan Securities LLC are the placement agents.
| Issuer: | Deutsche Bank AG, London Branch
|
| Issue: | Step-up digital return notes
|
| Underlying currency: | Mexican peso relative to the euro
|
| Amount: | $2,825,000
|
| Maturity: | March 31, 2016
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If currency gains by more than 2%, par plus 20%; if currency gains by up to 2%, par plus 5%; if currency falls by up to 10%, par; otherwise, full exposure to any losses
|
| Initial spot rate: | 17.08055
|
| Final spot rate: | Average of spot rates on five averaging dates ending March 28, 2016
|
| Pricing date: | Sept. 26
|
| Settlement date: | Oct. 1
|
| Agents: | JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC
|
| Fees: | 1.25%
|
| Cusip: | 25152RQP1
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
