Published on 12/11/2012 in the Prospect News Structured Products Daily.
New Issue: Deutsche prices $2.63 million contingent absolute return autocallables on Hartford
By Marisa Wong
Madison, Wis., Dec. 11 - Deutsche Bank AG, London Branch priced $2.63 million of 0% contingent absolute return autocallable optimization securities due Dec. 16, 2013 to the common stock of Hartford Financial Services Group, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at par of $10 plus an annualized call premium of 14% if Hartford shares close at or above the initial share price on any quarterly observation date.
If the notes are not called and the final price is greater than or equal to the trigger price, 75% of the initial price, the payout at maturity will be par plus the absolute value of the stock return. Otherwise, investors will be fully exposed to the decline.
UBS Financial Services Inc. and Deutsche Bank Securities Inc. are the agents.
Issuer: | Deutsche Bank AG, London Branch
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Issue: | Contingent absolute return autocallable optimization securities
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Underlying stock: | Hartford Financial Services Group, Inc. (Symbol: HIG)
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Amount: | $2,628,720
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Maturity: | Dec. 16, 2013
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Coupon: | 0%
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Price: | Par of $10.00
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Payout at maturity: | If final share price is greater than or equal to trigger price, par plus absolute value of stock return; otherwise, full exposure to stock decline
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Call: | At par plus 14% per year if Hartford shares close at or above initial share price on any quarterly observation date
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Initial price: | $21.89
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Trigger price: | $16.42, 75% of initial price
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Pricing date: | Dec. 7
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Settlement date: | Dec. 13
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Agents: | UBS Financial Services Inc. and Deutsche Bank Securities Inc.
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Fees: | 1.5%
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Cusip: | 25154S653
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