Deutsche Sells Its Largest Euro-Tied Note Amid FX Swoon
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Deutsche Bank AG issued $19.4 million of U.S. structured notes that wager the euro will continue its six-month decline against the dollar, marking the German lender’s largest such offering since at least 2010.
The two-year notes, sold Jan. 12, pay investors twice the percentage decline in the exchange rate, subject to a cap of 26.6 percent, according to a prospectus filed with the Securities and Exchange Commission. Investors lose proportionate principal if the euro strengthens against the dollar, with all principal at risk.