Published on 3/14/2013 in the Prospect News Structured Products Daily.
New Issue: Deutsche Bank prices $8.25 million more CMS slope steepener notes
By Angela McDaniels
Tacoma, Wash., March 14 - Deutsche Bank AG, London Branch priced an additional $8.25 million principal amount of CMS slope steepener notes due March 15, 2033, according to a 424B3 filing with the Securities and Exchange Commission.
The original $10 million of notes priced Feb. 25. The issue size is now $18.25 million.
The interest rate is 8.5% for the first year. After that, the rate will be (a) 4.2 times (b) the spread of the 30-year Constant Maturity Swap rate over the five-year CMS rate minus 50 basis points, subject to a minimum of zero and a maximum interest rate of 8.5% per year. Interest is payable quarterly.
The payout at maturity will be par.
The notes are callable at par on March 15, 2014, March 15, 2018, March 15, 2023 and March 15, 2028.
Deutsche Bank Securities Inc. is the agent.
Issuer: | Deutsche Bank AG, London Branch
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Issue: | CMS slope steepener notes
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Amount: | $18.25 million, increased from $10 million
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Maturity: | March 15, 2033
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Coupon: | 8.5% initially, beginning March 15, 2014, 4.2 times spread of 30-year CMS rate over five-year CMS rate less 50 bps, capped at 8.5% with floor of zero; payable quarterly
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Price: | Variable prices
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Payout at maturity: | Par
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Call option: | At par on March 15, 2014, March 15, 2018, March 15, 2023 and March 15, 2028
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Pricing date: | Feb. 25
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Upsized: | March 13
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Settlement date: | March 15
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Agent: | Deutsche Bank Securities Inc.
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Fees: | 5%
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Cusip: | 25152RUY7
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