Published on 2/12/2018 in the Prospect News Structured Products Daily.
New Issue: Deutsche prices $1.3 million callable contingent yield notes on index, ETFs
By Wendy Van Sickle
Columbus, Ohio, Feb. 12 – Deutsche Bank AG, London Branch priced $1.3 million of callable contingent yield notes due Feb. 7, 2024 linked to the least performing of the iShares MSCI Emerging Markets ETF, the SPDR Euro Stoxx 50 ETF and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 15.5% if all of the assets close at or above their coupon barriers, 65% of their initial levels, on the observation date for that quarter.
The notes will be callable at par on any quarterly observation date.
The payout at maturity will be par plus the final coupon unless any underlying asset finishes below the trigger level, 65% of the initial level, in which case investors will lose 1% for every 1% decline of the worst performing asset.
UBS Securities LLC and UBS Investment Bank are the agents.
| Issuer: | Deutsche Bank AG, London Branch
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| Issue: | Callable contingent yield notes
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| Underlying assets: | iShares MSCI Emerging Markets ETF, SPDR Euro Stoxx 50 ETF and Russell 2000 index
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| Amount: | $1.3 million
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| Maturity: | Feb. 7, 2024
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| Coupon: | 15.5%, payable quarterly if all three assets close at or above coupon barriers on quarterly observation date
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| Price: | Par of $1,000
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| Call option: | At par on any quarterly observation date
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| Payout at maturity: | Par plus final coupon unless any asset finishes below trigger level, in which case 1% loss for every 1% decline of the worst performing asset
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| Initial levels: | 1,438.65 for Russell, $40.92 for Stoxx ETF, $47.9994 for EM ETF
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| Coupon barriers/triggers: | 964.373 for Russell, $26.60 for Stoxx ETF, $31.1996 for EM ETF; 65% of initial levels
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| Pricing date: | Feb. 6
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| Settlement date: | Feb. 12
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| Underwriters: | UBS Securities LLC and UBS Investment Bank
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| Fees: | 0%
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| Cusip: | 25155MJP7
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