Product Snapshot: Deutsche racks up over US$200m with single stock play

The largest deal in the US in 2018 was a five year note linked to the stock of JP Morgan issued by Deutsche Bank raising US$225m. This note pays 1% interest p.a. semi-annually and has a final payment calculated as an average over the last five trading days of the five year period. Based on the notional amount (par value) the final payment is the greater of 100% and the final rebased stock level divided by a factor of 1.16.  The use of the average stock price over the last five days is a c