Deutsche Bank Said Near $1.5 Billion Settlement on Libor

Deutsche Bank AG investors reacted with relief as the lender moved closer to reaching a settlement in the global interest-rate rigging probe.

Germany’s largest lender is set to pay more than $1.5 billion this month after an investigation into how traders colluded to rig the London interbank offered rate and related benchmarks to profit from their own derivatives bets, according to a person familiar with the matter, who asked not to be identified because the talks are private. The unit expected to plead is Deutsche Bank Group Services, another person said. The U.K. unit is one of the lender’s main employers.