By Marisa Wong
Madison, Wis., Sept. 4 - Deutsche Bank AG, London Branch priced $605,000 of phoenix autocallable securities due Sept. 17, 2014 linked to the common stock of Expedia, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
If Expedia stock closes at or above the barrier level, 70% of the initial share price, on a quarterly observation date, the notes will pay a contingent coupon at an annualized rate of 15.5% for that quarter.
If the shares close at or above the initial price on any quarterly observation date, the notes will be called at par plus the contingent coupon.
If the notes are not called and Expedia shares finish at or above the 70% threshold level, the payout at maturity will be par plus the contingent coupon. Otherwise, investors will be fully exposed to the share price decline.
JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC are the placement agents.
| Issuer: | Deutsche Bank AG, London Branch
|
| Issue: | Phoenix autocallable securities
|
| Underlying stock: | Expedia, Inc. (Symbol: EXPE)
|
| Amount: | $605,000
|
| Maturity: | Sept. 17, 2014
|
| Coupon: | 15.5% per year, payable quarterly if stock closes at or above barrier on observation date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par plus contingent coupon if Expedia shares finish at or above barrier level; otherwise, 1% loss for every 1% that stock declines from initial price
|
| Call: | Automatically at par plus contingent coupon if Expedia shares close at or above initial price on any quarterly observation date
|
| Initial share price: | $46.76
|
| Barrier/threshold price: | $32.73, 70% of initial share price
|
| Pricing date: | Aug. 30
|
| Settlement date: | Sept. 5
|
| Agent: | JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC (placement)
|
| Fees: | 1%
|
| Cusip: | 25152REH2
|
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