Deutsche Bank to price 20-year callable CMS slope steepener notes

By Angela McDaniels

Tacoma, Wash., March 10 - Deutsche Bank AG, London Branch plans to price CMS slope steepener notes due March 31, 2034, according to an FWP filing with the Securities and Exchange Commission.

The notes will be sold at variable prices.

The interest rate will be 11% for the first year. After that, the rate will be (a) four times (b) the spread of the 30-year Constant Maturity Swap rate over the two-year CMS rate minus 45 basis points, subject to a minimum of zero and a maximum interest rate of 10% per year. Interest will be payable quarterly.

The payout at maturity will be par.

The notes will be callable at par on March 31, 2016, March 31, 2019, March 31, 2024 and March 31, 2029.

Deutsche Bank Securities Inc. is the agent.

The notes are expected to price March 26 and settle March 31.

The Cusip number is 25152RVT7.

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