By Marisa Wong
Madison, Wis., Jan. 14 – Deutsche Bank AG, London Branch priced $1 million of phoenix autocallable securities due Jan. 16, 2020 linked to the common stock of Broadcom Corp., according to a 424B2 filing with the Securities and Exchange Commission.
If Broadcom stock closes at or above the barrier price – 75% of the initial share price – on a quarterly observation date, the issuer will pay a contingent coupon for that quarter at the rate of 5.3% per year. Otherwise, no coupon will be paid that quarter.
If the shares close at or above the initial price on a quarterly observation date, the notes will be called at par plus the contingent coupon.
If the notes are not called and Broadcom shares finish at or above the barrier price, the payout at maturity will be par plus the contingent coupon. Otherwise, investors will receive a number of shares of Broadcom stock equal to $1,000 principal amount divided by the initial share price.
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: | Broadcom Corp. (Symbol: BRCM)
|
| Amount: | $1 million
|
| Maturity: | Jan. 16, 2020
|
| Coupon: | 5.3%, payable quarterly if stock closes at or above barrier price on observation date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par plus contingent coupon if Broadcom shares finish at or above barrier price; otherwise, 23.9693 shares per $1,000 of notes
|
| Call: | Automatically at par plus contingent coupon if Broadcom shares close at or above initial price on a quarterly observation date
|
| Initial share price: | $41.72
|
| Barrier price: | $31.29, 75% of initial price
|
| Pricing date: | Jan. 12
|
| Settlement date: | Jan. 15
|
| Placement agents: | JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC
|
| Fees: | 3%
|
| Cusip: | 25152RUB7
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
