Published on 9/10/2015 in the Prospect News Structured Products Daily.
New Issue: Deutsche Bank prices $5.96 million knock-out notes on stock basket
By Marisa Wong
Morgantown, W.Va., Sept. 10 – Deutsche Bank AG, London Branch priced $5.96 million of 0% knock-out notes due March 15, 2017 linked to a basket of equally weighted stocks, according to a 424B2 filing with the Securities and Exchange Commission.
The underlying stocks are Apple Inc., Allergan, Inc., Bank of America Corp., Bristol-Myers Squibb Co., Costco Wholesale Corp., Walt Disney Co., Google Inc., Home Depot, Inc., Merck & Co., Inc., Pfizer Inc. and Wells Fargo & Co.
If the basket finishes at or above the initial level, the payout at maturity will be par plus the gain up to a maximum return of 18%.
If the basket falls by up to the 85% knock-out level, the payout will be par.
Otherwise, investors will be fully exposed to any losses.
JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC are the agents.
Issuer: | Deutsche Bank AG, London Branch
|
Issue: | Capped knock-out notes
|
Underlying basket: | Apple Inc., Allergan, Inc., Bank of America Corp., Bristol-Myers Squibb Co., Costco Wholesale Corp., Walt Disney Co., Google Inc., Home Depot, Inc., | Merck & Co., Inc., Pfizer Inc. and Wells Fargo & Co.
|
Amount: | $5,958,000
|
Maturity: | March 15, 2017
|
Coupon: | 0%
|
Price: | Par
|
Payout at maturity: | If basket gains, par plus return, capped at 18%; if basket falls by up to knock-out level, par; otherwise, full exposure to any losses
|
Initial prices: | $109.27 for Apple, $293.74 for Allergan, $15.65 for BofA, $57.30 for Bristol-Myers, $138.48 for Costco, $100.97 for Disney, $600.70 for Google, $114.42 for Home Depot, $51.59 for Merck, $31.37 for Pfizer, $51.29 for Wells Fargo
|
Knock-out level: | 85% of initial level
|
Pricing date: | Sept. 4
|
Settlement date: | Sept. 10
|
Agents: | JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC
|
Fees: | 1.25%
|
Cusip: | 25152RN82
|
|
© 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.