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Deutsche Bank plans phoenix autocallables linked to Euro Stoxx Banks
By Angela McDaniels
Tacoma, Wash., Aug. 1 – Deutsche Bank AG, London Branch plans to price phoenix autocallable securities due Sept. 5, 2018 linked to the Euro Stoxx Banks index, according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes will pay a contingent coupon at an annual rate of 10% if the index closes at or above the trigger level, 77% of the initial index level, on the observation date for that quarter.
The notes will be automatically called at par if the index closes at or above the initial index level on any quarterly observation date.
The payout at maturity will be par unless the index finishes below the trigger level, in which case investors will be exposed to the index’s decline from its initial level.
JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC are the agents.
The notes will price Aug. 4.
The Cusip number is 25155MCV1.
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