By Marisa Wong
Morgantown, W.Va., May 2 – Deutsche Bank AG, London Branch priced $2.6 million of 0% digital return notes due Dec. 3, 2019 linked to the lesser performing of silver and copper, according to a 424B2 filing with the Securities and Exchange Commission.
If the final price of the lesser performing commodity is greater than or equal to its trigger price, 70% of its initial price, the payout at maturity will be par plus the digital return of 9%.
Otherwise, investors will be fully exposed to the decline of the lesser performing commodity.
The silver price will be the official price for delivery in London through a member of the LBMA.
For copper, the price will be last bid and offer price quoted during the second ring of the second session for copper-Grade A on the London Metal Exchanges.
JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC are the placement agents.
| Issuer: | Deutsche Bank AG, London Branch
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| Issue: | Digital return notes
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| Underlying commodities: | Silver and copper
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| Amount: | $2.6 million
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| Maturity: | Dec. 3, 2019
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If the final price of the lesser performing commodity is greater than or equal to its trigger price, par plus 9%; otherwise, full exposure to the decline of the lesser performing commodity
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| Initial prices: | $16.575 for silver, $6,885.50 for copper
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| Trigger prices: | $11.603 for silver, $4,819.85 for copper
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| Pricing date: | April 27
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| Settlement date: | May 2
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| Agents: | JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC
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| Fees: | 1%
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| Cusip: | 25155MMH1
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