By Angela McDaniels
Tacoma, Wash., Sept. 16 – Deutsche Bank AG, London Branch priced $1.38 million of phoenix autocallable securities due Sept. 28, 2016 linked to the common stock of Home Depot 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 13.4% per year if Home Depot shares close at or above the barrier price, 85% of the initial share price, on the observation date for that quarter. Otherwise, no coupon will be paid for that quarter.
The notes will be called at par plus the contingent coupon if the shares close at or above the initial price on any quarterly observation date.
If the notes are not called and the shares finish at or above the barrier price, the payout at maturity will be par plus the contingent coupon. Otherwise, investors will be fully exposed to the stock’s decline.
J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA are the agents.
Issuer: | Deutsche Bank AG, London Branch
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Issue: | Phoenix autocallable securities
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Underlying stock: | Home Depot Inc. (Symbol: HD)
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Amount: | $1.38 million
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Maturity: | Sept. 28, 2016
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Coupon: | 13.4%, payable quarterly if shares close at or above barrier price on observation date for that quarter
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Price: | Par
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Payout at maturity: | Par plus contingent coupon if Home Depot shares finish at or above barrier price; otherwise, full exposure to stock’s decline
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Call: | Automatically at par plus contingent coupon if Home Depot shares close at or above initial price on any quarterly observation date
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Initial share price: | $115.44
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Barrier price: | $98.12, 85% of initial share price
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Final share price: Average of stock’s closing share prices on five trading days ending Sept. 23, 2016
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Pricing date: | Sept. 11
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Settlement date: | Sept. 16
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Agents: | JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC
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Fees: | 1%
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Cusip: | 25152RQ22
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