Published on 6/19/2017 in the Prospect News Structured Products Daily.
New Issue: Deutsche Bank prices $3.46 million callable contingent yield notes on three indexes
By Marisa Wong
Morgantown, W.Va., June 19 – Deutsche Bank AG, London Branch priced $3.46 million of callable contingent yield securities due Dec. 18, 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 closes at or above its coupon barrier, 65% of its initial level, on the observation date for that quarter. The contingent coupon rate is 8.65% per year.
The notes are callable at par on any coupon payment date prior to maturity.
If the notes are not called and each index finishes at or above its 65% trigger 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 securities
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Underlying indexes: | Euro Stoxx 50, Russell 2000 and S&P 500
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Amount: | $3,455,000
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Maturity: | Dec. 18, 2020
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Coupon: | 8.65% per year, payable each quarter that each index closes at or above its coupon barrier on observation date for that quarter
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Price: | Par
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Payout at maturity: | If each index finishes at or above trigger level, 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 any coupon payment date prior to maturity
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Initial levels: | 3,525.46 for Euro Stoxx 50, 1,410.084 for Russell 2000 and 2,432.46 for S&P 500
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Coupon barriers: | 2,291.55 for Euro Stoxx 50, 916.555 for Russell 2000 and 1,581.10 for S&P 500; 65% of initial levels
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Trigger levels: | 2,291.55 for Euro Stoxx 50, 916.555 for Russell 2000 and 1,581.10 for S&P 500; 65% of initial levels
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Pricing date: | June 15
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Settlement date: | June 20
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Agent: | Deutsche Bank Securities Inc.
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Fees: | 1.75%
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Cusip: | 25155MBR1
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