By Marisa Wong
Morgantown, W.Va., May 2 – Deutsche Bank AG, London Branch priced $1 million of 0% notes due May 15, 2019 linked to the performance of the Brazilian real relative to the dollar, according to a 424B2 filing with the Securities and Exchange Commission.
If the currency performance is at least negative 20%, the payout at maturity will be par plus the greater of the currency performance and the contingent minimum return of 5.5%. Otherwise, the payout will be par plus the currency performance with full exposure to losses.
The currency performance is (a) the initial spot rate minus the final spot rate divided by (b) the initial spot rate.
A higher spot rate indicates a weakening of the real against the dollar, while a lower spot rate indicates a strengthening of the real against the dollar.
JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC are the placement agents.
| Issuer: | Deutsche Bank AG, London Branch
|
| Issue: | Notes
|
| Underlying currency: | Brazilian real relative to the U.S. dollar
|
| Amount: | $1 million
|
| Maturity: | May 15, 2019
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If the currency performance is at least negative 20%, par plus the greater of the currency performance and the contingent minimum return of 5.5%; otherwise, par plus the currency performance with full exposure to losses
|
| Currency performance: | (a) initial spot rate minus final spot rate divided by (b) initial spot rate
|
| Initial spot rate: | 3.4673
|
| Pricing date: | April 27
|
| Settlement date: | May 2
|
| Agents: | JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC
|
| Fees: | 1%
|
| Cusip: | 25155MKY6
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
