By Toni Weeks
San Luis Obispo, Calif., Jan. 12 – Deutsche Bank AG, London Branch priced $7.4 million of 0% absolute return review notes due Jan. 11, 2018 linked to the S&P GSCI Crude Oil Index – Excess Return, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be automatically called at par plus a call premium of 21% per year if the index closes at or above the initial level on any quarterly review date after one year.
If the notes are not called and the final index level is at least 70% of the initial level, the payout at maturity will be par plus the absolute value of the index return. If the final level is less than 70% of the initial level, investors will be fully exposed to the decline from the initial level.
The final index level will be the average of the closing levels on the five trading days ending Jan. 8, 2018.
JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC are the placement agents.
| Issuer: | Deutsche Bank AG, London Branch
|
| Issue: | Absolute return review notes
|
| Underlying index: | S&P GSCI Crude Oil Index – Excess Return
|
| Amount: | $7.4 million
|
| Maturity: | Jan. 11, 2018
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus absolute value of index return if it finishes at or above trigger level; otherwise, full exposure to index’s decline
|
| Call: | Automatically at par plus 21% per year if index closes at or above initial level on any quarterly review date beginning Jan. 11, 2016
|
| Final level: | Average of closing levels on the five trading days ending Jan. 8, 2018
|
| Initial level: | 268.5662
|
| Trigger level: | 187.9963, 70% of initial level
|
| Pricing date: | Jan. 8
|
| Settlement date: | Jan. 13
|
| Agents: | JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC
|
| Fees: | 2%
|
| Cusip: | 25152RTU7
|
© 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.
