Deutsche Bank plans three-year digital notes linked to four currencies

By Angela McDaniels

Tacoma, Wash., April 19 – Deutsche Bank AG, London Branch plans to price 0% notes due April 25, 2019 linked to the performance of a basket of four currencies relative to the dollar, according to a 424B2 filing with the Securities and Exchange Commission.

The equally weighted basket consists of the Brazilian real, the Indian rupee, the Russian ruble and the South African rand.

If the basket return is greater than or equal to zero – meaning that the basket currencies, as a whole, strengthen or remain unchanged relative to the dollar – the payout at maturity will be par plus 27%.

If the basket return is less than zero but greater than or equal to negative 5%, the payout will be par plus 6%.

If the basket return is less than negative 5%, the payout will be par.

For each basket currency, the final spot rate will be the average of its spot rates on the five trading days ending April 18, 2019.

JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC are the agents.

The notes will price April 22.

The Cusip number is 2515A1NH0.

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