Published on 6/10/2015 in the Prospect News Structured Products Daily.
New Issue: Deutsche Bank prices $1.02 million knock-out notes linked to S&P 500
By Susanna Moon
Chicago, June 10 – Deutsche Bank AG, London Branch priced $1.02 million of 0% knock-out notes due Dec. 14, 2016 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
A knock-out event occurs if the index ever closes below the 76.5% knock-out level during the life of the notes.
If the index finishes above the initial level and a knock-out event has not occurred, the payout at maturity will be par plus the gain.
If the index falls but a knock-out event has not occurred, the payout will be par.
Otherwise, investors will receive par plus the index return, with full exposure to losses.
J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA are the placement agents.
Issuer: | Deutsche Bank AG, London Branch
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Issue: | Knock-out notes
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Underlying index: | S&P 500
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Amount: | $1,018,000
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Maturity: | Dec. 14, 2016
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If index gains and never closes below knock-out level, par plus gain; if index falls but never closes below knock-out level, par; otherwise, par plus index return, with full exposure to losses
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Initial index level: | 2,092.83
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Knock-out level: | 1,601.01, 76.5% of the initial level
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Pricing date: | June 5
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Settlement date: | June 10
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Agents: | J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA
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Fees: | 1.25%
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Cusip: | 25152RG64
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