By Angela McDaniels
Tacoma, Wash., Sept. 3 – Deutsche Bank AG, London Branch priced $6.97 million of 0% step-up digital return notes due Sept. 16, 2015 linked to the performance of the offshore Chinese renminbi relative to the dollar, according to a 424B2 filing with the Securities and Exchange Commission.
The reference currency return will be positive if the renminbi strengthens relative to the dollar.
If the reference currency return is greater than or equal to 1%, the payout at maturity will be par plus 10%.
If the reference currency return is greater than or equal to zero but less than 1%, the payout will be par plus 5%.
If the reference currency return is less than zero, investors will lose 1% for each 1% that the reference currency return is below zero.
Because the currency performance is calculated by dividing the difference between the initial spot rate and the final spot rate by the initial spot rate, the maximum positive currency performance will equal 100%.
JPMorgan Chase Bank, N.A. and J.P. Morgan Securities LLC are the placement agents.
| Issuer: | Deutsche Bank AG, London Branch
|
| Issue: | Step-up digital return note
|
| Underlying currency: | Offshore Chinese renminbi
|
| Amount: | $6.97 million
|
| Maturity: | Sept. 16, 2015
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If reference currency return is greater than or equal to 1%, par plus 10%; if reference currency return is greater than or equal to zero but less than 1%, par plus 5%; if reference currency return is less than zero, 1% loss for each 1% that reference currency return is below zero
|
| Initial spot rate: | 6.1488
|
| Final spot rate: | Average of the spot rates on the five trading days ending Sept. 11, 2015
|
| Pricing date: | Aug. 29
|
| Settlement date: | Sept. 4
|
| Agents: | JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC
|
| Fees: | 0.7%
|
| Cusip: | 25152RPK3
|
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