New Issue: Deutsche Bank sells $8.38 million digital notes on 10-year sterling ICE swap rate

By Marisa Wong

Morgantown, W.Va., Aug. 24 – Deutsche Bank AG, London Branch priced $8.38 million of 0% digital return notes due Sept. 5, 2018 linked to the 10-year British pounds sterling ICE swap rate, according to a 424B2 with the Securities and Exchange Commission.

If the rate finishes at or above its 70% buffer level, the payout at maturity will be par plus 9.75%.

Otherwise, investors will lose 1.4286% for each 1% decline beyond 30%.

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

Issuer:	Deutsche Bank AG, London Branch
Issue:	Digital notes
Underlying rate:	10-year British pounds sterling ICE swap rate
Amount:	$8,383,000
Maturity:	Sept. 5, 2018
Coupon:	0%
Price:	Par of $1,000
Payout at maturity:	If the rate finishes at or above buffer level, par plus 9.75%; otherwise, 1.4286% loss for each 1% decline beyond 30%
Initial rate:	1.181%
Buffer level:	0.8267%, 70% of initial rate
Pricing date:	Aug. 17
Settlement date:	Aug. 22
Agents:	JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC
Fees:	1%
Cusip:	25152R7H0

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