Published on 7/14/2015 in the Prospect News Structured Products Daily.
New Issue: Deutsche Bank prices $1.29 million knock-out notes linked S&P 500
By Angela McDaniels
Tacoma, Wash., July 14 – Deutsche Bank AG, London Branch priced $1.29 million of 0% knock-out notes due Jan. 19, 2017 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
A knock-out event will occur if the index closes below the knock-out level, 76% of the initial index level, on any day during the life of the notes.
If a knock-out event has not occurred and the final index level is greater than or equal to the initial level, the payout at maturity will be par plus the index return.
If a knock-out event has not occurred and the final index level is less than the initial level, the payout will be par.
If a knock-out event has occurred, investors will be fully exposed to the index’s decline.
JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC are the agents.
| Issuer: | Deutsche Bank AG, London Branch
|
| Issue: | Knock-out notes
|
| Underlying index: | S&P 500
|
| Amount: | $1,285,000
|
| Maturity: | Jan. 19, 2017
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If knock-out event has not occurred and final index level is greater than or equal to initial level, par plus index return; if knock-out event has not occurred and final index level is less than initial level, par; if knock-out event has occurred, full exposure to index’s decline
|
| Knock-out event: | Index closes below knock-out level on any day during life of notes
|
| Initial level: | 2,076.62
|
| Final index level: | Average of index’s closing levels on the five trading days ending Jan. 13, 2017
|
| Knock-out level: | 1,578.23, 76% of initial level
|
| Pricing date: | July 10
|
| Settlement date: | July 15
|
| Agents: | JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC
|
| Fees: | 1.25%
|
| Cusip: | 25152RJ79
|
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