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Deutsche Bank to price leveraged steepener notes linked to CMS rates
By Angela McDaniels
Tacoma, Wash., Nov. 3 – Deutsche Bank AG, London Branch plans to price callable leveraged steepener notes due Nov. 26, 2034 linked to the 30-year Constant Maturity Swap rate and the two-year CMS rate, according to an FWP filing with the Securities and Exchange Commission.
The interest rate will be 10% for the first year. After that, the interest rate will be four times the spread of the 30-year CMS rate over the two-year CMS rate minus 25 basis points, subject to a minimum of zero and a maximum of 10% per year. Interest will be payable quarterly.
The payout at maturity will be par.
Beginning Nov. 26, 2015, the notes will be callable at par on any interest payment date.
Deutsche Bank Securities Inc. is the agent. Morgan Stanley & Co. LLC is a dealer.
The notes will settle Nov. 26.
The Cusip number is 25152RXG3.
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