Deutsche Bank plans market-linked step-up autocallables on S&P 500

By Marisa Wong

Madison, Wis., Nov. 26 – Deutsche Bank AG, London Branch plans to price 0% autocallable market-linked step-up notes due December 2017 linked to the S&P 500 index, according to an FWP with the Securities and Exchange Commission.

The notes will be called at par of $10 plus an annualized call premium of 7% to 8% if the index closes at or above the initial level on either call observation date. The call observation dates are in January 2016 and December 2016.

If the index finishes at or above the initial level, the payout at maturity will be par of $10 plus the greater of the step-up payment and the index return. The step-up payment is 25%.

Investors will be exposed to any index decline.

The notes are expected to price in December and settle in January.

BofA Merrill Lynch is the agent.

© 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.