By Toni Weeks
San Luis Obispo, Calif., Dec. 12 - Deutsche Bank AG, London Branch priced $29.11 million of 7.5% STEP Income Securities due Dec. 29, 2014 linked to the performance of Ford Motor Co. shares, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be payable quarterly.
If the price of Ford shares finishes at or above the step level - 107.5% of the initial price - the payout at maturity will be par of $10 plus 5.85%.
If the stock finishes at or above the initial value but below the step level, the payout will be par.
Investors will be fully exposed to any losses.
BofA Merrill Lynch is the agent.
| Issuer: | Deutsche Bank AG, London Branch
|
| Issue: | STEP Income Securities
|
| Underlying stock: | Ford Motor Co. (NYSE: F)
|
| Amount: | $29,109,150
|
| Maturity: | Dec. 29, 2014
|
| Coupon: | 7.5%, payable quarterly
|
| Price: | Par
|
| Payout at maturity: | If Ford shares finish at or above $17.81, par plus $0.585 per $10 note; if shares finish at or above initial price but below STEP level, par; full exposure to any losses
|
| Initial price: | $16.57
|
| STEP level: | $17.81, 107.5% of initial value
|
| Pricing date: | Dec. 10
|
| Settlement date: | Dec. 17
|
| Agent: | BofA Merrill Lynch
|
| Fees: | 1.75%
|
| Cusip: | 25155P880
|
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