By Wendy Van Sickle
Columbus, Ohio, Feb. 7 – Deutsche Bank AG, London Branch priced $1.2 million of phoenix autocallable securities due Feb. 1, 2019 linked to the least performing of the common stock of Carrizo Oil & Gas, Inc., the common stock of Chevron Corp. and the common stock of Hess Corp., according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes will pay a contingent coupon at an annual rate of 22% if each stock 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 stock closes at or above its initial share price on any quarterly observation date.
The payout at maturity will be par plus the final coupon unless the least-performing stock finishes below its trigger price, 70% of its initial share price, in which case investors will lose 1% for each 1% decline of the least-performing stock from its initial price.
Deutsche Bank Securities Inc. is the agent.
| Issuer: | Deutsche Bank AG, London Branch
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| Issue: | Phoenix autocallable notes
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| Underlying stocks: | Carrizo Oil & Gas, Inc., Chevron Corp. and Hess Corp.
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| Amount: | $1.2 million
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| Maturity: | Feb. 1, 2019
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| Coupon: | 22% annualized, payable quarterly if each stock closes at or above 70% coupon barrier on observation date for that quarter
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| Price: | Par
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| Payout at maturity: | Par plus contingent coupon unless any stock finishes below 70% trigger, in which case shares of worst performing stock
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| Call: | At par plus contingent coupon if each stock closes at or above initial level on any observation date
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| Initial levels: | $21.48 for Carrizo, $128.48 for Chevron and $52.31 for Hess
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| Barriers/triggers: | $15.04 for Carrizo, $89.94 for Chevron and $36.62 for Hess; 70% of initial levels
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| Pricing date: | Jan. 29
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| Settlement date: | Feb. 1
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| Agent: | Deutsche Bank Securities Inc.
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| Fees: | 1.25%
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| Cusip: | 25190LAF7
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