Published on 1/29/2018 in the Prospect News Structured Products Daily.
New Issue: Deutsche Bank prices $1.4 million callable contingent yield notes linked to indexes
By Wendy Van Sickle
Columbus, Ohio, Jan. 29 – Deutsche Bank AG, London Branch priced $1.4 million of callable contingent yield notes due Jan. 29, 2020 linked to the least performing of the Euro Stoxx 50 index, the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes pay a contingent coupon if each index’s closing level is at or above its coupon barrier, 65% of its initial level, on the observation date that quarter. The contingent coupon rate is 7% per year.
The notes are callable at par on each quarterly observation date.
If the notes are not called and each index finishes at or above its downside threshold, 65% of its initial level, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% that the least-performing index’s final level is below its initial level.
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 indexes: | Euro Stoxx 50, Russell 2000 and S&P 500
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| Amount: | $1.4 million
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| Maturity: | Jan. 29, 2020
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| Coupon: | 7% per year, payable quarterly if each index 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 index finishes at or above downside threshold, par; otherwise, 1% loss for every 1% that least-performing index’s final level is below initial level
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| Call option: | At par on each quarterly observation date
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| Initial levels: | 3,649.07 for Stoxx, 1,599.691 for Russell, 2,810.30 for S&P
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| Barrier/trigger levels: | 2,368.09 for Stoxx, 1,039.747 for Russell, 1,844.40 for S&P; 65% of initial levels
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| Pricing date: | Jan. 19
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| Settlement date: | Jan. 24
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| Agent: | Deutsche Bank Securities Inc.
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| Fees: | 1.5%
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| Cusip: | 25155MHT1
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