Bloomberg the Company & Products

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Deutsche Bank Selling Fourth Euribor Range Accrual Note to Italy

April 26 (Bloomberg) -- Deutsche Bank AG is selling its fourth structured note in six months that targets Italian investors and pays returns based on the number of days interbank lending rates stay within a set boundary.

Germany’s biggest bank is offering about 82 million euros ($108 million) of the so-called range-accrual notes, according to data compiled by Bloomberg.

Investors in the six-year securities, which are due to be issued on May 15, will receive a fixed interest rate of 4 percent in the first year, Bloomberg data show. In the five years after that, returns will be calculated based on how long the three-month euro interbank offered rate remains in a range of 0.6 percent to 3 percent, compared with 0.724 percent yesterday.

Frankfurt-based Deutsche Bank raised 278.8 million euros from the securities since November, the largest of which was a 159 million-euro note sold in February.

Nick Bone, a spokesman for Deutsche Bank in London, declined to comment.

A total of 20 banks raised $906 million from selling range-accrual notes tied to interbank lending rates this year, with Goldman Sachs Group Inc. the No.1 issuer, according to Bloomberg data, which exclude U.S. domestic-market issuance. That’s down 62 percent from the same period in 2011.

To contact the reporter on this story: Alastair Marsh in London at amarsh25@bloomberg.net

To contact the editor responsible for this story: Paul Armstrong at parmstrong10@bloomberg.net

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.