By Wendy Van Sickle
Columbus, Ohio, March 2 – Deutsche Bank AG, London Branch priced $75,000 of phoenix autocallable securities due Aug. 28, 2019 linked to the lesser performing of the SPDR S&P Oil & Gas Exploration & Production exchange-traded fund and the Financial Select Sector SPDR fund, according to a 424B2filing with the Securities and Exchange Commission.
Each quarter, the notes will pay a contingent coupon at an annual rate of 11% if each fund closes at or above its coupon barrier, 70% of its initial share price, on the observation date for that quarter.
The notes will be automatically called at par if each fund closes at or above its initial price on any quarterly call observation date.
The payout at maturity will be par unless the lesser performing fund finishes below its 70% knock-out price, in which case investors will be fully exposed to that fund’s decline from its initial price.
Deutsche Bank Securities Inc. is the agent.
| Issuer: | Deutsche Bank AG, London Branch
|
| Issue: | Phoenix autocallable securities
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| Underlying ETFs: | SPDR S&P Oil & Gas Exploration & Production exchange-traded fund and Financial Select Sector SPDR fund
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| Amount: | $75,000
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| Maturity: | Aug. 28, 2019
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| Coupon: | 11% per year, payable each quarter that each ETF closes at or above coupon barrier on observation date
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| Price: | Par
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| Payout at maturity: | Par plus contingent coupon if each ETF finishes at or above knock-out level; otherwise, par plus return of worst performing ETF
|
| Call: | At par plus contingent coupon if assets close at or initial level on any quarterly call observation
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| Initial levels: | $34.64 for oil and gas fund, $29.12 for financial fund
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| Coupon barrier/knock-out levels: | $24.25 for oil and gas fund, $20.38 for financial fund; 70% of initial levels
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| Pricing date: | Feb. 23
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| Settlement date: | Feb. 28
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| Agent: | Deutsche Bank Securities Inc.
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| Fees: | 1.875%
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| Cusip: | 25155MJK8
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