By Susanna Moon
Chicago, May 20 – Deutsche Bank AG, London Branch priced $339,000 of trigger phoenix autocallable optimization securities due May 21, 2018 linked to Honeywell International Inc. shares, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 7% if Honeywell stock closes at or above the 84% trigger level on an observation date for that quarter.
The notes will be called at par of $10 plus the contingent coupon if the shares close at or above the initial price on a quarterly observation date after six months.
The payout at maturity will be par plus the contingent coupon unless Honeywell shares finish below the 84% trigger level, in which case investors will be fully exposed to any losses.
UBS Financial Services Inc. and Deutsche Bank Securities Inc. are the underwriters.
Issuer: | Deutsche Bank AG, London Branch
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Issue: | Trigger phoenix autocallable optimization securities
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Underlying stock: | Honeywell International Inc. (Symbol: HON)
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Amount: | $339,000
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Maturity: | May 21, 2018
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Coupon: | 7% per year, payable quarterly if stock closes at or above trigger price on observation date for that quarter
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Price: | Par of $10.00
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Payout at maturity: | Par plus contingent coupon if Honeywell shares finish at or above trigger price; otherwise, par plus stock return
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Call: | At par plus contingent coupon if Honeywell shares close at or above initial price on a quarterly observation date after six months
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Initial share price: | $106.85
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Trigger price: | $89.75, 84% of initial share price
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Pricing date: | May 15
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Settlement date: | May 20
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Underwriters: | UBS Financial Services Inc. and Deutsche Bank Securities Inc.
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Fees: | 2%
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Cusip: | 25190H638
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