Published on 11/13/2017 in the Prospect News Structured Products Daily.
New Issue: Deutsche Bank prices $4 million callable contingent yield notes on three stocks
By Marisa Wong
Morgantown, W.Va., Nov. 13 – Deutsche Bank AG, London Branch priced $4 million of callable contingent yield securities due Nov. 17, 2021 linked to the least performing of the common stocks of Kimberly-Clark Corp., Kellogg Co. and Newell Brands Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes pay a contingent coupon if each stock closes at or above its coupon barrier, 70% of its initial price, on the observation date for that quarter. The contingent coupon rate is 25.3% per year.
The notes are callable in whole at par on any quarterly coupon payment date prior to maturity.
If the notes are not called and each stock finishes at or above its 70% trigger price, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% decline of the least-performing stock.
Deutsche Bank Securities Inc. is the agent.
| Issuer: | Deutsche Bank AG, London Branch
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| Issue: | Callable contingent yield notes
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| Underlying stocks: | Kimberly-Clark Corp. (Symbol: KMB), Kellogg Co. (Symbol: K) and Newell Brands Inc. (Symbol: NWL)
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| Amount: | $4 million
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| Maturity: | Nov. 17, 2021
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| Coupon: | 25.3% per year, payable each quarter that each stock closes at or above its coupon barrier on observation date that quarter
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| Price: | Par
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| Payout at maturity: | If each stock finishes at or above its trigger price, par; otherwise, 1% loss for every 1% decline of the least-performing stock
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| Call option: | In whole at par on any coupon payment date prior to maturity
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| Initial prices | : | $113.23 for Kimberly-Clark, $62.82 for Kellogg, $31.41 for Newell
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| Coupon barriers: | $79.26 for Kimberly-Clark, $43.97 for Kellogg, $21.99 for Newell; 70% of initial prices
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| Trigger prices: | $79.26 for Kimberly-Clark, $43.97 for Kellogg, $21.99 for Newell; 70% of initial prices
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| Pricing date: | Nov. 9
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| Settlement date: | Nov. 16
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| Agent: | Deutsche Bank Securities Inc.
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| Fees: | None
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| Cusip: | 25155MFS5
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