Published on 8/17/2017 in the Prospect News Structured Products Daily.
New Issue: Deutsche Bank prices $15 million trigger callable contingent yield notes linked to three indexes
By Wendy Van Sickle
Columbus, Ohio, Aug. 17 – Deutsche Bank AG, London Branch priced $15 million of trigger callable contingent yield notes with daily coupon observation due Aug. 18, 2020 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 pay a contingent coupon at the rate of 9.5% 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.
| Issuer: | Deutsche Bank AG, London Branch
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| Issue: | Trigger callable contingent yield notes with daily coupon observation
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| Underlying indexes: | Euro Stoxx 50, Russell 2000 and S&P 500
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| Amount: | $15 million
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| Maturity: | Aug. 18, 2020
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| Coupon: | 9.5% per year, payable quarterly if each index closes at or above coupon barrier on each day during that quarter
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| Price: | Par of $10
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| Payout at maturity: | If each index finishes at or above downside threshold, par; otherwise, 1% loss for every 1% that least-performing index’s final level is below initial level
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| Call option: | At par on any quarterly observation date other than final one
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| Initial index levels: | 3,406.34 for Euro Stoxx 50, 1,374.231 for Russell 2000 and 2,441.32 for S&P 500
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| Coupon barriers: | 2,384.44 for Euro Stoxx 50, 961.962 for Russell 2000 and 1,708.92 for S&P 500; 70% of initial levels
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| Downside thresholds: | 2,043.80 for Euro Stoxx 50, 824.539 for Russell 2000 and 1,464.79 for S&P 500; 60% of initial levels
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| Strike date: | Aug. 11
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| Trade date: | Aug. 14
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| Settlement date: | Aug. 21
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| Agents: | UBS Financial Services Inc. and Deutsche Bank Securities Inc.
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| Fees: | 1%
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| Cusip: | 25190K573
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