Published on 5/25/2016 in the Prospect News Structured Products Daily.
New Issue: Deutsche Bank prices $728,000 knock-out notes linked to S&P 500
By Angela McDaniels
Tacoma, Wash., May 25 – Deutsche Bank AG, London Branch priced $728,000 of 0% knock-out notes due Nov. 22, 2017 linked to the S&P 500 index, according to a 424B2 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, 79.55% of the initial level.
If the final index level is greater than the initial index 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 at maturity 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.
JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC are the agents.
| Issuer: | Deutsche Bank AG, London Branch
|
| Issue: | Knock-out notes
|
| Underlying index: | S&P 500
|
| Amount: | $728,000
|
| Maturity: | Nov. 22, 2017
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If final index level is greater than initial index level, par plus index return; if final index level is less than initial index level but knock-out event has not occurred, par; if knock-out event has occurred, 1% loss for every 1% that final index level is less than initial index level
|
| Knock-out event: | Final index level is less than knock-out level
|
| Initial level: | 2,052.32
|
| Final index level: | Average of index’s closing levels on five trading days ending Nov. 17, 2017
|
| Knock-out level: | 1,632.62, 79.55% of initial level
|
| Pricing date: | May 20
|
| Settlement date: | May 25
|
| Agents: | JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC
|
| Fees: | 1.25%
|
| Cusip: | 25152R3C5
|
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