Published on 4/12/2011 in the Prospect News Structured Products Daily.
New Issue: Deutsche prices $12 million capped knock-out notes linked to palladium
By Jennifer Chiou
New York, April 12 - Deutsche Bank AG, London Branch priced $12 million of 0% capped knock-out notes due April 18, 2012 linked to the price of palladium, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus the commodity return, subject to a maximum return of 20% and a contingent minimum return of 7.5%, unless the price of palladium has declined by more than 20% from the initial price on the final valuation date of April 13, 2012, in which case investors will be fully exposed to losses.
JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC are the agents.
Issuer: | Deutsche Bank AG, London Branch
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Issue: | Capped knock-out notes
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Underlying commodity: | Palladium
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Amount: | $12,009,000
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Maturity: | April 18, 2012
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus the commodity return, subject to a maximum return of 20% and a contingent minimum return of 7.5%, unless the final price has fallen from the initial price by more than 20%, in which case full exposure to losses
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Initial price: | $798.00
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Knock-out price: | $638.40, 80% of initial price
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Pricing date: | April 8
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Settlement date: | April 13
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Agents: | JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC
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Fees: | 1%
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Cusip: | 2515A15Q0
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