Published on 11/13/2013 in the Prospect News Structured Products Daily.
New Issue: Deutsche Bank prices $6.72 million phoenix autocallables linked to Facebook
By Angela McDaniels
Tacoma, Wash., Nov. 13 - Deutsche Bank AG, London Branch priced $6.72 million of phoenix autocallable notes due Nov. 26, 2014 linked to the class A common stock of Facebook, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
If Facebook shares close at or above the barrier price, 65% of the initial share price, on any quarterly observation date, the issuer will pay a contingent coupon at the rate of 15% per year. Otherwise, no coupon will be paid for that period.
If the stock closes 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 the shares finish at or above the barrier price, the payout at maturity will be par plus the contingent coupon. Otherwise, investors will lose 1% for every 1% that the final share price is less than 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 notes
|
| Underlying stock: | Facebook, Inc. (Symbol: FB)
|
| Amount: | $6,721,000
|
| Maturity: | Nov. 26, 2014
|
| Coupon: | 15% per year, payable quarterly if Facebook shares close at or above barrier price on observation date for that quarter
|
| Price: | Par
|
| Payout at maturity: | If shares finish at or above barrier price, par plus contingent coupon; otherwise, 1% loss for every 1% that final share price is less than initial share price
|
| Call: | Automatically at par plus contingent coupon if stock closes at or above initial price on any quarterly observation date
|
| Initial share price: | $47.56
|
| Final share price: | Average of stock's closing share prices on five trading days ending Nov. 21, 2014
|
| Threshold price: | $30.91, 65% of initial price
|
| Pricing date: | Nov. 8
|
| Settlement date: | Nov. 14
|
| Agents: | JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC
|
| Fees: | 1%
|
| Cusip: | 25152RFS7
|
© 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.
