Deutsche Bank plans 8.5% STEP Income Securities linked to Whirlpool

By Susanna Moon

Chicago, Sept. 29 – Deutsche Bank AG, London Branch plans to price 8.5% STEP Income Securities due October 2018 linked to Whirlpool Corp. shares, according to an FWP filing with the Securities and Exchange Commission.

Interest will be payable quarterly.

If the stock finishes at or above the 108.5% step level, the payout at maturity will be par of $10 plus the step payment of 1% to 5%. The exact step rate will be set at pricing.

Investors will be exposed to any losses.

BofA Merrill Lynch is the agent.

The notes will price in September and settle in October.

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