Published on 1/31/2018 in the Prospect News Structured Products Daily.
New Issue: Deutsche prices $50,000 callable contingent yield notes on indexes, ETF
By Wendy Van Sickle
Columbus, Ohio, Jan. 31 – Deutsche Bank AG, London Branch priced $50,000 of callable contingent yield notes due April 30, 2019 linked to the least performing of the iShares China Large-Cap ETF, the Euro Stoxx 50 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 6.45% if all of the assets close at or above their coupon barriers, 70% of their initial levels, on the observation date for that quarter.
The notes will be callable at par on any quarterly observation date.
The payout at maturity will be par plus the final coupon unless any underlying asset finishes below the initial level and closes below its downside threshold level, 70% of the initial level, on any day during the life of the notes, in which case investors will lose 1% for every 1% decline of the worst performing asset.
UBS Securities LLC and UBS Investment Bank are the agents.
| Issuer: | Deutsche Bank AG, London Branch
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| Issue: | Callable contingent yield notes
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| Underlying assets: | iShares China Large-Cap ETF, Euro Stoxx 50 index and S&P 500 index Amount: | $50,000
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| Maturity: | April 30, 2019
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| Coupon: | 6.45%, payable quarterly if all three ETFs close at or above coupon barriers on quarterly observation date
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| Price: | Par of $1,000
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| Call option: | At par on any quarterly observation date
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| Payout at maturity: | Par plus final coupon unless any asset finishes below initial level and any asset closes below downside threshold level during life of notes, in which case 1% loss for every 1% decline of the worst performing asset
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| Initial levels: | 2,839.35 for S&P, 3,630.15 for Stoxx, $52.64 for ETF
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| Coupon barriers/downside thresholds: | 1,987.48 for S&P, 2,541.11 for Stoxx, $36.85 for ETF; 70% of initial levels
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| Pricing date: | Jan. 25
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| Settlement date: | Jan. 30
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| Underwriters: | UBS Securities LLC and UBS Investment Bank
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| Fees: | 1.875%
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| Cusip: | 25155MHL8
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