Trading has begun on the Warsaw Stock Exchange of db Magic Three II, a structured note issued by the London branch of Deutsche Bank whose value is dependent on the performance of equities, the European real estate market, commodities and the Polish money market.
Deutsche says the introduction of structured products on the Polish stock exchange represents a further development of the bank's strategy to create products for individual investors based on equities, foreign exchange, interest rates and commodities.
In Poland, the bank says, individual investors have been able to access structured products mainly in the form of deposits, funds and insurance wrapped products, until the appearance last year of structured notes.
The first structured note, db Magic Three, was issued by Deutsche Bank in July last year and listed on the Warsaw Stock Exchange the following month. The success of this issue, the bank says, has underlined investors' interest in these products and prompted the launch of a follow-up note, db Magic Three II.
This is a three-year structured note that gives investors the opportunity to automatically participate in the best return of one of three portfolios, each composed of the four asset classes equity, European real estate market, commodities and the Polish money market (based on the Wibor rate). The average of the best performing portfolio is paid out to the investor at maturity.
Deutsche Bank in London is the issuer of the note, while the co-ordinator of the offer was Dom Maklerski, and DB Securities was part of the consortium. The note is issued in accordance with the base prospectus accepted by the German financial services regulator, BaFin.
The Deutsche Bank group in Poland consists of Deutsche Bank Polska, Deutsche Bank PBC, DB Securities, DWS Polska TFI, DIL Polska Baumanagement, DIL Polska Real Estate Leasing, DB Real Estate Polska and DBG Eastern Europe (Polska), which between them employ some 1,550 people.