Published on 1/2/2018 in the Prospect News Structured Products Daily.
New Issue: Deutsche Bank sells $10 million review notes on Russell 2000, two ETFs
By Marisa Wong
Morgantown, W.Va., Jan. 2 – Deutsche Bank AG, London Branch priced $10 million of 0% review notes due Dec. 24, 2020 linked to the worst performing of the Financials Select Sector SPDR fund, the SPDR S&P Regional Banking exchange-traded fund the Russell 2000 index and, according to a 424B2 filing with the Securities and Exchange Commission.
After one year, the notes will be automatically called at par plus a call premium of 12.6% per year if each underlying closes at or above its initial level on any semiannual review date.
If the least performing underlying finishes at or above its trigger level, 80% of its initial level, the payout at maturity will be par plus the digital return of 37.8%. If the final level of the least performing underlying is less than its trigger level, investors will lose 1% for every 1% that the least performing underlying declines from its initial level.
JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC are the agents.
| Issuer: | Deutsche Bank AG, London Branch
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| Issue: | Review notes
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| Underlying assets: | Financials Select Sector SPDR fund, SPDR S&P Regional Banking ETF, Russell 2000 index
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| Amount: | $10 million
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| Maturity: | Dec. 24, 2020
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If least performing underlying finishes at or above trigger level, par plus 37.8%; otherwise, 1% loss for every 1% that least performing underlying declines from initial level
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| Call: | Automatically at par plus call premium of 12.6% per year if each underlying closes at or above its initial level on any semiannual review date after one year
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| Initial levels: | $28.13 for Financials ETF, $60.17 for Regional Banking ETF, 1,547.107 for Russell
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| Trigger levels: | $22.50 for Financials ETF, $48.14 for Regional Banking ETF, 1,237.686 for Russell; 80% of initial levels
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| Final levels: | For each underlying, average of its closing levels on five trading days ending Dec. 21, 2020
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| Pricing date: | Dec. 21
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| Settlement date: | Dec. 27
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| Agents: | JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC
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| Fees: | 1.5%
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| Cusip: | 25155MGR6
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