Published on 2/4/2014 in the Prospect News Structured Products Daily.
New Issue: Deutsche Bank prices $1.45 million return enhanced notes linked to bank stocks
By Angela McDaniels
Tacoma, Wash., Feb. 4 - Deutsche Bank AG, London Branch priced $1.45 million of 0% return enhanced notes due Feb. 19, 2015 linked to an equally weighted basket of stocks, according to a 424B2 filing with the Securities and Exchange Commission.
The basket includes the common stocks of Bank of America Corp., Citigroup Inc. and Prudential Financial, Inc.
If the basket return is positive, the payout at maturity will be par plus two times the basket return, subject to a maximum return of 22.4%. If the basket return is negative, investors will have 1-to-1 exposure to the decline.
JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC are the agents.
Issuer: | Deutsche Bank AG, London Branch
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Issue: | Return enhanced notes
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Underlying stocks: | Bank of America Corp. (Symbol: BAC), Citigroup Inc. (Symbol: C) and Prudential Financial, Inc. (Symbol: PRU), equally weighted
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Amount: | $1.45 million
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Maturity: | Feb. 19, 2015
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If basket return is positive, par plus two times basket return, subject to maximum return of 22.4%; if basket return is negative, 1-to-1 exposure to decline
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Initial share prices: | $16.75 for Bank of America, $47.43 for Citigroup and $84.39 for Prudential
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Final basket level: | Average of basket's closing levels on five trading days ending Feb. 13, 2015
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Pricing date: | Jan. 31
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Settlement date: | Feb. 5
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Agents: | JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC
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Fees: | 1%
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Cusip: | 25152RHH9
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