By Toni Weeks
San Luis Obispo, Calif., March 13 - Deutsche Bank AG, London Branch priced $10 million of 0% trigger phoenix autocallable optimization securities due March 17, 2016 linked to the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index closes at or above the trigger level - 65% of the initial level - on any quarterly observation date, the issuer will pay a contingent coupon of 5.4%. Otherwise, no coupon will be paid for that quarter.
If the index closes at or above the initial level on any observation date after one year, the notes will be called at par of $10 plus the contingent coupon.
If the notes are not called and the index finishes at or above the trigger level, the payout at maturity will be par plus the contingent coupon. Investors will be exposed to any losses.
Deutsche Bank Securities Inc. and UBS Financial Services Inc. are the agents.
| Issuer: | Deutsche Bank AG, London Branch
|
| Issue: | Trigger phoenix autocallable optimization securities
|
| Underlying index: | Euro Stoxx 50
|
| Amount: | $10 million
|
| Maturity: | March 17, 2016
|
| Coupon: | 5.4% per year, payable quarterly if index closes at or above trigger level on observation date for that quarter
|
| Price: | Par
|
| Payout at maturity: | If notes are not called and index finishes at or above trigger level, par plus contingent coupon; otherwise, full exposure to losses
|
| Initial level: | 2,718.71
|
| Trigger level: | 1,767.16, 65% of initial level
|
| Call option: | At par plus contingent coupon if index closes at or above initial level on any quarterly observation date beginning March 11, 2014
|
| Pricing date: | March 11
|
| Settlement date: | March 14
|
| Agents: | Deutsche Bank Securities Inc. and UBS Financial Services Inc.
|
| Fees: | 1.57%
|
| Cusip: | 25155H870
|
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