Deutsche Bank amends buffered contingent fixed payment notes tied to S&P 500 Total Return

By Angela McDaniels

Tacoma, Wash., Nov. 23 - Deutsche Bank AG, London Branch amended one of the terms for its upcoming 0% buffered contingent fixed payment securities due Dec. 4, 2015 linked to the S&P 500 Total Return index, according to an FWP filing with the Securities and Exchange Commission.

If the final index level is greater than or equal to the initial level, the payout at maturity will be par plus a fixed payment that is expected to be 42.7% to 46.5%. The exact fixed payment will be set at pricing.

Prior to the change, the final index level had to be greater than the initial level in order for investors to receive the fixed payment. If the final index level had been equal to the initial level, investors would have received par.

Investors will receive par if the index declines by 10% or less and will lose 1% for every 1% that it declines beyond 10%.

The notes (Cusip 2515A1BZ3) are expected to price Dec. 1 and settle Dec. 6.

Deutsche Bank Securities Inc. is the agent.

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