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

By Angela McDaniels

Tacoma, Wash., March 29 – Deutsche Bank AG, London Branch plans to price 0% knock-out notes due Oct. 4, 2017 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 final index level is less than the knock-out level, which is expected to be 78.6% of the initial index level.

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

If a knock-out event has occurred, investors will lose 1% for every 1% that the final index level is less than the initial index level.

The final index level will be the average of the index’s closing levels on the five trading days ending Sept. 29, 2017.

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

The notes will price April 1.

The Cusip number is 2515A1ND9.

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