Deutsche Bank plans to price knock-out notes linked to S&P 500 index

By Toni Weeks

San Luis Obispo, Calif., May 27 – Deutsche Bank AG, London Branch plans to price 0% knock-out notes due Dec. 7, 2016 linked to the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.

A knock-out event will occur if the index’s closing level is less than the knock-out level, 76.5% of the initial index level, on any day during the life of the notes.

If a knock-out event has not occurred and the final index level is greater than or equal to the initial level, the payout at maturity will be par plus the index return.

If a knock-out event has not occurred and the final index level is less than the initial level, the payout will be par.

If a knock-out event has occurred, the payout will be par plus the index return. If that return is negative, investors will receive less than par.

The final index return will be the average of the closing index levels on the five trading days ending Dec. 2, 2016.

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

The notes will price May 29 and settle June 3.

The Cusip number is 25152RF99.

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