Published on 9/8/2015 in the Prospect News Structured Products Daily.
New Issue: Deutsche Bank prices $1.29 million knock-out notes on stock basket
By Marisa Wong
Morgantown, W.Va., Sept. 8 – Deutsche Bank AG, London Branch priced $1.29 million of 0% knock-out notes due March 13, 2017 linked to a basket of equally weighted stocks, according to a 424B2 filing with the Securities and Exchange Commission.
The underlying stocks are Apple Inc., Allergan, Inc., Bank of America Corp., Bristol-Myers Squibb Co., Costco Wholesale Corp., Walt Disney Co., Google Inc., Home Depot, Inc., Merck & Co., Inc., Pfizer Inc. and Wells Fargo & Co.
If the basket finishes at or above the initial level, the payout at maturity will be par plus the gain up to a maximum return of 18%.
If the basket falls by up to the 85% knock-out level, the payout will be par.
Otherwise, investors will be fully exposed to any losses.
JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC are the agents.
| Issuer: | Deutsche Bank AG, London Branch
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| Issue: | Capped knock-out notes
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| Underlying basket: | Apple Inc., Allergan, Inc., Bank of America Corp., Bristol-Myers Squibb Co., Costco Wholesale Corp., Walt Disney Co., Google Inc., Home Depot, Inc., | Merck & Co., Inc., | Pfizer Inc. and Wells Fargo & Co.
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| Amount: | $1.29 million
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| Maturity: | March 13, 2017
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If basket gains, par plus return, capped at 18%; if basket falls by up to knock-out level, par; otherwise, full exposure to any losses
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| Initial prices: | $112.34 for Apple, $299.61 for Allergan, $15.85 for BofA, $59.61 for Bristol-Myers, $140.42 for Costco, $101.89 for Disney, $614.34 for Google, $116.48 for Home Depot, $52.98 for Merck, $31.97 for Pfizer, $51.99 for Wells Fargo
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| Knock-out levels: | 85% of initial levels
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| Pricing date: | Sept. 2
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| Settlement date: | Sept. 8
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| Agents: | JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC
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| Fees: | 1.25%
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| Cusip: | 25152RN90
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