Published on 1/23/2013 in the Prospect News Structured Products Daily.
New Issue: Deutsche Bank prices $2.05 million autocallable securities linked to Mexican peso
By Toni Weeks
San Diego, Jan. 23 - Deutsche Bank AG, London Branch priced $2.05 million of 0% autocallable securities due July 23, 2014 linked to the Mexican peso relative to the dollar, according to a 424B2 filing with the Securities and Exchange Commission.
JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC are the placement agents.
The securities will be called at par plus a call premium if the currency performance is greater than negative 2.4% on any of the three observation dates. The call premium is 5% if the notes are called on July 19, 2013, 10% if they are called on Jan. 17, 2014 and 15% if they are called on July 18, 2014.
If the notes are not called and the currency performance is greater than or equal to negative 15%, the payout at maturity will be par. If the currency performance is less than negative 15%, investors will be fully exposed to the decline.
| Issuer: | Deutsche Bank AG, London Branch
|
| Issue: | Autocallable securities
|
| Underlying currency: | Mexican peso relative to dollar
|
| Amount: | $2.05 million
|
| Maturity: | July 23, 2014
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If currency return is greater than or equal to negative 15%, par; if currency performance is less than negative 15%, full exposure to decline
|
| Call: | Automatically at par plus a call premium if currency performance is greater than negative 2.4% on any of three observation dates; call premium is 5% on July 19, 2013, 10% on Jan. 17, 2014 and 15% on July 18, 2014
|
| Initial spot rate: | 12.6695 pesos per dollar
|
| Pricing date: | Jan. 18
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| Settlement date: | Jan. 24
|
| Agents: | JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC
|
| Fees: | 1.25%
|
| Cusip: | 25152RBE2
|
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