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Deutsche Bank and Invesco PowerShares launch first ETNs linked to foreign sovereign bond futures

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Deutsche Bank and Invesco PowerShares Capital Management have launched six exchange traded notes (ETNs) linked to foreign sovereign bond futures.

 

These will be the first ETNs to provide investors with leveraged or unleveraged exposure to the US dollar value of the returns of German sovereign bond futures, Italian sovereign bond futures and Japanese sovereign bond futures. These ETNs expand upon Deutsche Bank’s product line-up that already includes leveraged ETNs linked to US Ultra T-Bond Futures.

The ETNs will be listed for trading on the NYSE Arca, under the following symbols:
PowerShares DB German Bund Futures ETN (NYSE Arca: BUNL); PowerShares DB 3x German Bund Futures ETN (NYSE Arca: BUNT); PowerShares DB Italian Treasury Bond Futures ETN (NYSE Arca: ITLY); PowerShares DB 3x Italian Treasury Bond Futures ETN (NYSE Arca: ITLT); PowerShares DB Japanese Govt Bond Futures ETN (NYSE Arca: JGBL); and PowerShares DB 3x Japanese Govt Bond Futures ETN (NYSE Arca: JGBT).

The ETNs are senior unsecured obligations issued by Deutsche Bank AG, London Branch. The returns of each ETN are obtained by combining the month-over-month performance or three times the month-over-month performance of the DB USD Bund Futures Index, the DB USD BTP Futures Index or the DB USD JGB Futures Index, as applicable, with the monthly returns of the DB 3-Month T-Bill Index, less an investor fee.

The DB USD Bund Futures Index measures the performance of a long investment in Euro-Bund Futures, the DB USD BTP Futures Index measures the performance of a long position in Euro-BTP Futures and the DB USD JGB Futures Index measures the performance of a long investment in 10-year JGB Futures.

“We are delighted to expand our successful exchange-traded platform to now include foreign fixed income futures-based products,” says Martin Kremenstein, Director within Deutsche Bank’s db-X business. “In addition, we are pleased to provide investors a convenient way to take a view on the sovereign debt of Germany, Italy and Japan.”

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