Deutsche Bank plans to price callable CMS slope steepener notes

By Toni Weeks

San Luis Obispo, Calif., June 3 - Deutsche Bank AG, London Branch plans to price callable CMS slope steepener notes due June 30, 2034, according to an FWP filing with the Securities and Exchange Commission.

The coupon will be 10% for the first year. After that, the rate will be four times the spread of the 30-year Constant Maturity Swap rate over the two-year CMS rate minus 40 basis points, up to a maximum rate of 10%. Interest is payable quarterly and cannot be less than zero.

The payout at maturity will be par.

The notes will be callable at par on June 30 of 2016, 2019, 2024 and 2029.

The notes (Cusip: 25152RXB4) are expected to price June 25 and settle June 30.

Deutsche Bank Securities Inc. will be the agent.

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