By Wendy Van Sickle
Columbus, Ohio, June 14 – Deutsche Bank AG, London Branch priced $4.09 million of phoenix autocallable securities due June 28, 2017 linked to the common stock of Citigroup Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes will pay a contingent coupon at the rate of 10% per year if the shares close at or above the barrier price, 71.2% of the initial share price, on the observation date for that quarter. Otherwise, no coupon will be paid for that quarter.
The notes will be called at par plus the contingent coupon if the stock closes at or above the initial price on any quarterly observation date.
If the notes are not called and the shares finish at or above the 71.2% trigger price, 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
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| Issue: | Phoenix autocallable securities
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| Underlying stock: | Citigroup Inc.
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| Amount: | $4,093,000
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| Maturity: | June 28, 2017
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| Coupon: | Each quarter, notes pay contingent coupon at rate of 10% per year if stock closes at or above barrier on observation date for that quarter; otherwise, no coupon paid that quarter
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| Price: | Par of $1,000
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| Payout at maturity: | Par plus final contingent coupon if stock finishes below trigger price; otherwise, full exposure to losses
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| Call: | Automatically at par plus contingent coupon if stock closes at or above initial price on any quarterly observation date
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| Initial price: | $43.90
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| Barrier/trigger price: | $31.26, 71.2% of initial price
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| Pricing date: | June 10
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| Settlement date: | June 15
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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: | 25152R3L5
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