Published on 11/19/2018 in the Prospect News Structured Products Daily.
New Issue: Deutsche sells $4.53 million callable contingent yield notes on indexes
By Sarah Lizee
Olympia, Wash., Nov. 19 – Deutsche Bank AG, London Branch priced $4.53 million of callable contingent interest notes due Nov. 21, 2028 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.
The notes will pay a contingent quarterly coupon at an annual rate of 11% if each index closes at or above its 65% interest barrier on the review date for that quarter.
The notes will be callable at par plus any contingent coupon due on any quarterly review date.
The payout at maturity will be par unless any index finishes below its 50% trigger level, in which case investors will be fully exposed to any losses of the worst performing index.
Deutsche Bank Securities is the agent.
| Issuer: | Deutsche Bank AG, London Branch
|
| Issue: | Callable contingent interest notes
|
| Underlying indexes: | Euro Stoxx 50 index, Russell 2000 index and S&P 500 index
|
| Amount: | $4.53 million
|
| Maturity: | Nov. 21, 2028
|
| Coupon: | 11% annualized, payable quarterly if each index closes at or above 65% interest barrier on review date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par unless any index finishes 50% trigger, in which case 1% loss for each 1% decline of worst performing index
|
| Call: | Callable at par plus any contingent coupon due on any quarterly review date
|
| Initial levels: | 1,524.122 for Russell, 2,730.20 for S&P, 3,190.31 for Stoxx
|
| Interest barriers: | 990.679 for Russell, 1,774.63 for S&P, 2,073.70 for Stoxx; 65% of initial levels
|
| Trigger levels: | 762.061 for Russell, 1,365.10 for S&P, 1,595.16 for Stoxx; 50% of initial levels
|
| Pricing date: | Nov. 16
|
| Settlement date: | Nov. 20
|
| Agent: | Deutsche Bank Securities
|
| Fees: | 1.5%
|
| Cusip: | 25155MLW9
|
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