By Susanna Moon
Chicago, May 20 – Deutsche Bank AG, London Branch priced $776,000 of trigger phoenix autocallable optimization securities due Nov. 21, 2016 linked to Centene Corp. shares, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 9% if Centene stock closes at or above the 75% trigger level on an observation date for that quarter.
The notes will be called at par of $10 plus the contingent coupon if the shares close at or above the initial price on any quarterly observation date.
The payout at maturity will be par plus the contingent coupon unless Centene shares finish below the 75% trigger level, in which case investors will be fully exposed to any losses.
UBS Financial Services Inc. and Deutsche Bank Securities Inc. are the underwriters.
| Issuer: | Deutsche Bank AG, London Branch
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| Issue: | Trigger phoenix autocallable optimization securities
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| Underlying stock: | Centene Corp. (Symbol: CNC)
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| Amount: | $776,000
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| Maturity: | Nov. 21, 2016
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| Coupon: | 9% per year, payable quarterly if stock closes at or above trigger price on observation date for that quarter
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| Price: | Par of $10.00
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| Payout at maturity: | Par plus contingent coupon if Centene shares finish at or above trigger price; otherwise, par plus stock return
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| Call: | At par plus contingent coupon if Centene shares close at or above initial price on quarterly observation date
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| Initial share price: | $68.11
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| Trigger price: | $51.08, 75% of initial share price
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| Pricing date: | May 15
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| Settlement date: | May 20
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| Underwriters: | UBS Financial Services Inc. and Deutsche Bank Securities Inc.
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| Fees: | 1.5%
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| Cusip: | 25190H562
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