By Toni Weeks
San Luis Obispo, Calif., Feb.12 – Deutsche Bank AG, London Branch priced $1 million of 0% phoenix autocallable securities due Feb. 13, 2020 linked to the common stock of Fresh Market, 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 8.05% per year if Fresh Market shares close at or above the trigger price, 80% of the initial share price, on the observation date for that quarter. Otherwise, no coupon will be paid for that quarter.
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 trigger price, the payout at maturity will be par plus the contingent coupon. Otherwise, investors will receive a number of Fresh Market shares equal to $1,000 divided by the initial stock price or, at the issuer’s option, the cash value of those shares.
JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC are the placement agents.
| Issuer: | Deutsche Bank AG, London Branch
|
| Issue: | Phoenix autocallable notes
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| Underlying stock: | Fresh Market, Inc. (Symbol: TFM)
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| Amount: | $1 million
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| Maturity: | Feb. 13, 2020
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| Coupon: | 8.05% per year, payable quarterly if stock closes at or above barrier level on observation date for that quarter
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| Price: | Par
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| Payout at maturity: | Par plus contingent coupon if Fresh Market shares finish at or above trigger price; otherwise, 27.8164 shares or, at issuer’s option, equivalent cash value
|
| Call: | At par plus contingent coupon if Fresh Market shares close at or above initial price on any quarterly observation date
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| Initial share price: | $35.95
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| Barrier/trigger price: | $28.76, 80% of initial share price
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| Pricing date: | Feb. 10
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| Settlement date: | Feb. 13
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| Agents: | J.P Morgan Securities LLC and JPMorgan Chase Bank, NA
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| Fees: | 3%
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| Cusip: | 2515A1MC2
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