New Issue: Deutsche Bank prices $5.25 million callable CMS slope steepener notes

By Susanna Moon

Chicago, Aug. 28 – Deutsche Bank AG, London Branch priced $5.25 million callable CMS slope steepener notes due Aug. 28, 2034, according to a 424B2 filing with the Securities and Exchange Commission.

The coupon will be 12.25% 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 50 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 on Aug. 28, 2016, Aug. 28, 2019, Aug. 28, 2024 and Aug. 28, 2029.

Deutsche Bank Securities Inc. is the agent.

Issuer:	Deutsche Bank AG, London Branch
Issue:	CMS slope steepener notes
Amount:	$5.25 million
Maturity:	Aug. 28, 2034
Coupon:	12.25% initially, beginning Aug. 28, 2015, four times spread of 30-year CMS rate over two-year CMS rate less 50 bps, capped at 10% with floor of zero; payable quarterly
Price:	Variable
Payout at maturity:	Par
Call option:	At par on Aug. 28, 2016, Aug. 28, 2019, Aug. 28, 2024 and Aug. 28, 2029
Pricing date:	Aug. 27
Settlement date:	Aug. 28
Agent:	Deutsche Bank Securities Inc.
Fees:	5%
Cusip:	25152RXC2

© 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.