By Susanna Moon
Chicago, Sept. 23 - Deutsche Bank AG, London Branch priced $3.32 million of 0% notes due Sept. 29, 2015 linked to the performance of the dollar relative to the Japanese yen and the performance of the five-year yen swap rate, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity for each $1,000 principal amount will be the minimum payment of $600 plus 19.8 times the currency return and 60 times the rate performance.
The currency return will be zero unless the dollar soars relative to the yen so that the final spot rate is greater than the currency strike level of 120. In that case, the currency return will be (a) the final spot rate minus 120 divided by (b) 120.
The rate performance will be zero unless the final swap rate is greater than the strike level of 2%. In that case, the rate performance will be (a) the final swap rate minus 2% multiplied by (b) the currency multiplier, which is the initial spot rate divided by the final spot rate.
Deutsche Bank Securities Inc. is the agent.
| Issuer: | Deutsche Bank AG, London Branch
|
| Issue: | Notes
|
| Underlyings: | Dollar relative to Japanese yen and five-year yen swap rate
|
| Amount: | $3,321,000
|
| Maturity: | Sept. 29, 2015
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | 60% of par plus 19.8 times the currency return and 60 times the rate performance
|
| Initial spot rate: | 99.15
|
| Pricing date: | Sept. 19
|
| Settlement date: | Sept. 24
|
| Agent: | Deutsche Bank Securities Inc.
|
| Fees: | 0.1%
|
| Cusip: | 25152RES8
|
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