Published on 10/26/2018 in the Prospect News Structured Products Daily.
New Issue: Deutsche Bank prices $4.1 million 13.5% contingent yield callables on indexes, fund
By Susanna Moon
Chicago, Oct. 26 – Deutsche Bank AG, London Branch priced $4.1 million of callable contingent yield securities due Oct. 19, 2028 linked to the least performing of the iShares MSCI Emerging Markets ETF, the Russell 2000 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes pay a contingent quarterly coupon at an annual rate of 13.5% if each underlying asset closes at or above its 70% coupon barrier on the observation date for that quarter.
The notes are callable at par on any quarterly observation date after one year.
The notes will be called at par if each asset closes at or above its initial level on any review date after six months.
The payout at maturity will be par unless any asset finishes below its 50% trigger level, in which case investors will lose 1% for each 1% decline of the worst performing index or fund.
Deutsche Bank Securities Inc. is the agent.
| Issuer: | Deutsche Bank AG, London Branch
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| Issue: | Callable contingent yield securities
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| Underlying assets: | iShares MSCI Emerging Markets ETF, Russell 2000 index and Euro Stoxx 50 index
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| Amount: | $4.1 million
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| Maturity: | Oct. 19, 2028
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| Coupon: | 13.5% annualized, payable quarterly if each asset closes at or above its 70% coupon barrier on observation date for that quarter
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| Price: | Par of $10
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| Payout at maturity: | If each asset finishes at or above trigger level, par; otherwise, 1% loss per 1% decline of worst performing index or fund
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| Call option: | At par on each quarterly observation date beginning Aug. 12, 2019
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| Initial levels: | $40.29 for fund, 1,546.679 for Russell, 3,194.41 for Stoxx
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| Coupon barriers: | $28.20 for fund, 1,082.675 for Russell, 2,236.09 for Stoxx, 70% of initial levels
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| Trigger levels: | $20.15 for fund, 773.34 for Russell, 1,597.21 for Stoxx, 50% of initial levels
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| Pricing date: | Oct. 15
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| Settlement date: | Oct. 18
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| Agent: | Deutsche Bank Securities Inc.
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| Fees: | 1.5%
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| Cusip: | 25155MLQ2
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