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Deutsche to price trigger callable contingent yield notes on indexes
By Marisa Wong
Morgantown, W.Va., Sept. 19 – Deutsche Bank AG, London Branch plans to price trigger callable contingent yield notes with daily coupon observation due Sept. 24, 2021 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 will pay a contingent coupon at a rate of 9.8% per year if each index’s closing level remains at or above its coupon barrier, 70% of its initial level, on each day during that quarter.
The notes are redeemable at par of $10 on any quarterly observation date other than the final one.
If the notes are not called and each index finishes at or above its downside threshold, 60% of its initial 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.
UBS Financial Services Inc. and Deutsche Bank Securities Inc. are the agents.
The notes will price on Sept. 20.
The Cusip number is 25190K607.
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