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Deutsche Bank plans market-linked step-up autocallables on Russell 2000
By Susanna Moon
Chicago, Sept. 29 – Deutsche Bank AG, London Branch plans to price 0% autocallable market-linked step-up notes due October 2020 linked to the Russell 2000 index, according to an FWP with the Securities and Exchange Commission.
The notes will be called at par of $10 plus a call premium of 6.5% to 7.5% per year if the index closes at or above the initial level on any annual call observation date.
If the index finishes above the step-up level, 130% of the initial level, the payout at maturity will be par of $10 plus the index gain.
If the index stays flat or gains by up to the step-up level, the payout at maturity will be par of $10 plus the step-up payment of 30%.
Investors will receive par if the index falls by up to 15% and will be exposed to any losses beyond 15%.
The exact terms will be set at pricing.
BofA Merrill Lynch is the agent.
The notes will price and settle in October.
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