By E. Janene Geiss
Philadelphia, Jan. 22 - Deutsche Bank AG, London Branch priced a $25 million issue of CMS (constant maturity swap) spread range notes due Jan. 23, 2017, according to a 424B filing with the Securities and Exchange Commission.
Interest will be payable semi-annually. The interest rate will be 8.5% for the first year.
After the first year, the semi-annual interest payment will be the base interest rate of 8.5% multiplied by the proportion of days on which the 30-year constant maturity swap rate is higher than the two-year CMS rate minus 5 basis points in the quarterly measurement period.
The notes are callable at par on any interest payment date beginning in January 2008.
Deutsche Bank Securities and Deutsche Bank Trust Co. Americas are agents.
| Issuer: | Deutsche Bank AG, London Branch
|
| Issue: | CMS (constant maturity swap) spread range notes
|
| Amount: | $25 million
|
| Maturity: | Jan. 23, 2017
|
| Interest rate: | 8.5%
|
| Interest accrual factor: | Semi-annual payments at 8.5% for first year; after, base rate of 8.5% will be multiplied by proportion of days on which the 30-year constant maturity swap rate is higher than the two-year CMS rate minus 5 basis points
|
| Base rate: | 8.5%
|
| Price: | Par
|
| Call: | On interest payment dates starting January 2008 at par
|
| Pricing date: | Jan. 18
|
| Settlement date: | Jan. 23
|
| Agent: | Deutsche Bank Securities
|
| Fees: | 0%
|
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