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Deutsche Bank to price annual review notes linked to S&P 500 via JPM
By Angela McDaniels
Tacoma, Wash., Oct. 28 – Deutsche Bank AG, London Branch plans to price 0% annual review notes due Nov. 2, 2017 linked to the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.
The notes will be automatically called at par plus a call premium if the index closes at or above the initial index level on Nov. 10, 2016 or Oct. 30, 2017. The call premium is expected to be 9.9% for the first call date and 19.8% for the second call date.
The payout at maturity will be par unless the final index level is less than 90% of the initial level, in which case investors will lose 1% for every 1% decline below the initial level.
JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC are the placement agents.
The notes will price Oct. 30 and settle Nov. 4.
The Cusip number is 25152RT37.
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