Published on 2/3/2017 in the Prospect News Structured Products Daily.
New Issue: Deutsche Bank sells $4.5 million trigger callable contingent yield notes on indexes
By Wendy Van Sickle
Columbus, Ohio, Feb. 3 – Deutsche Bank AG, London Branch priced $4.5 million of trigger callable contingent yield notes due Aug. 6, 2019 linked to the S&P 500 index, the Russell 2000 index and the Euro Stoxx 50 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 10.2% if each index closes at or above its barrier, 65% of its initial level, on each trading day during the observation period for that quarter.
The notes will be callable at par of $10 on each quarterly observation date other than the final date.
The payout at maturity will be par plus the contingent coupon unless any index finishes below its 60% downside threshold, in which case investors will be fully exposed to any losses of the worst performing index.
UBS Financial Services Inc. and Deutsche Bank Securities Inc. are the agents.
| Issuer: | Deutsche Bank AG, London Branch
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| Issue: | Trigger callable contingent yield notes
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| Underlying indexes: | S&P 500, Russell 2000, Euro Stoxx 50
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| Amount: | $4.5 million
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| Maturity: | Aug. 6, 2019
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| Coupon: | 10.2%, payable quarterly if each index closes at or above barrier on each trading day during the observation period for that quarter
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| Price: | Par of $10
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| Call option: | At par quarterly on any coupon date other than the final date
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| Payout at maturity: | Par unless any index closes below downside threshold, in which case 1% loss for each 1% decline of the worst performing index
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| Initial levels: | 2,280.90 for S&P, 1,352.333 for Russell, 3,262.72 for Stoxx
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| Barriers: | 1,482.59 for S&P, 879.016 for Russell, 1,482.59 for Stoxx; 65% of initial levels
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| Downside thresholds: | 1,368.54 for S&P, 811.400 for Russell, 1,957.63 for Stoxx; 60% of initial levels
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| Pricing date: | Jan. 31
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| Settlement date: | Feb. 6
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| Agents: | UBS Financial Services Inc. and Deutsche Bank Securities Inc.
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| Fees: | 1%
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| Cusip: | 25190F871
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