Deutsche Bank lowers cap for collared leveraged notes tied to CMS rate

By Angela McDaniels

Tacoma, Wash., Feb. 6 - Deutsche Bank AG, London Branch lowered the maximum gain for its upcoming collared leveraged securities to 50% from 60%, according to an FWP filing with the Securities and Exchange Commission.

The notes mature Feb. 13, 2018 and are linked to the 30-year Constant Maturity Swap rate.

If the final swap rate is greater than or equal to 4%, the payout at maturity will be par plus (a) 50 times (b) the final swap rate minus 4%, subject to the 50% maximum gain.

If the final swap rate is less than 4%, the payout will be par minus (a) 50 times (b) 4% minus the final swap rate, subject to a maximum loss of 30% to 45%. The exact maximum loss will be set at pricing.

The notes are expected to price Feb. 8 and settle Feb. 13.

UBS Financial Services Inc. and Deutsche Bank Securities Inc. are the underwriters.

The Cusip number is 25152RUX9.

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