Published on 12/15/2017 in the Prospect News Structured Products Daily.
New Issue: Deutsche prices $2.26 million trigger autocallable contingent yield notes on ETFs
By Wendy Van Sickle
Columbus, Ohio, Dec. 15 – Deutsche Bank AG, London Branch priced $2.26 million of trigger autocallable contingent yield notes due June 17, 2020 linked to the least performing of the Technology Select Sector SPDR fund, the SPDR S&P Bank ETF and the Health Care Select Sector SPDR fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 8% if all of the ETFs close at or above their coupon barriers, 67% of their initial levels, on the observation date for that quarter.
The notes will be called at par if each ETF closes at or above its initial levels on any quarterly observation date after one year.
The payout at maturity will be par plus the final coupon unless any ETF finishes below the downside threshold level, 67% of the initial level, in which case investors will lose 1% for every 1% decline of the worst performing ETF.
UBS Securities LLC and UBS Investment Bank are the agents.
| Issuer: | Deutsche Bank AG, London Branch
|
| Issue: | Trigger autocallable contingent yield notes
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| Underlying ETFs: | Technology Select Sector SPDR fund, SPDR S&P Bank ETF and Health Care Select Sector SPDR fund
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| Amount: | $2,257,000
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| Maturity: | June 17, 2020
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| Coupon: | 8%, payable quarterly if all three ETFs close at or above coupon barriers on quarterly observation date
|
| Price: | Par of $1,000
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| Call: | At par if all three ETFs close at or above their initial levels on any quarterly observation date after one year
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| Payout at maturity: | Par plus final coupon unless any ETF finishes below downside threshold level, in which case 1% loss for every 1% decline of the worst performing ETF
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| Initial levels: | $83.69 for Health Care, $64.13 for Technology, $47.82 for Bank
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| Coupon barriers/downside thresholds: | $56.07 for Health Care, $42.97 for Technology, $32.04 for Bank; 67% of initial levels
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| Pricing date: | Dec. 12
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| Settlement date: | Dec. 15
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| Underwriters: | UBS Securities LLC and UBS Investment Bank
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| Fees: | 1.125%
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| Cusip: | 25155MGB1
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