Deutsche Bank plans capped absolute return knock-out notes on Apple

By Toni Weeks

San Luis Obispo, Calif., March 12 – Deutsche Bank AG, London Branch plans to price 0% capped absolute return knock-out notes due March 30, 2016 linked to the common stock of Apple Inc., according to an FWP filing with the Securities and Exchange Commission.

A knock-out event will occur if the final share price is less than the initial price by more than the knock-out buffer of 17.7%.

If a knock-out event has not occurred and the final price is greater than the initial price, the payout will be par plus the lesser of the stock return and the maximum return of 17.7%.

If a knock-out event has not occurred and the final share price is less than the initial price, the payout will be par plus the absolute value of the return.

If a knock-out event has occurred, investors will be fully exposed to the stock price decline.

The notes (Cusip: 2515A1MV0) are expected to price March 13 and settle March 18.

JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC are the placement agents.

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