Deutsche Bank priced €355 million ($482.4 million) of bonds backed by three commercial mortgages secured by Italian properties, according to a person familiar with the deal.

The 4.2-year senior tranche in the deal, dubbed DECO-2014 Gondola, priced at 145 basis points over three month Euribor. Although the spread was below initial guidance in 150 basis point-area, the tranche also priced below par, at 99.85.

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