By Tali Rackner
Minneapolis, June 7 – Deutsche Bank AG, London Branch priced $2.21 million of phoenix autocallable securities due June 20, 2018 linked to the common stock of ON Semiconductor Corp., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 10% if the stock closes at or above its coupon barrier, 59.75% of its initial level, on the observation date for that quarter.
The notes will be called at par plus the contingent coupon if the stock closes at or above its initial level on any observation date.
The payout at maturity will be par plus the contingent coupon unless the stock finishes below its 59.75% trigger level, in which case investors will lose 1% for each 1% decline.
JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC are the agents.
| Issuer: | Deutsche Bank AG, London Branch
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| Issue: | Phoenix autocallable securities
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| Underlying stock: | ON Semiconductor Corp. (Symbol: ON)
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| Amount: | $2.21 million
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| Maturity: | June 20, 2018
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| Coupon: | 10% payable quarterly if stock closes at or above 80% coupon barrier on observation date for that quarter
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| Price: | Par
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| Payout at maturity: | Par unless stock finishes below trigger level, in which case 1% loss for each 1% decline
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| Call: | At par plus contingent coupon if stock closes at or above initial price on any quarterly observation date
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| Initial level: | $15.86
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| Coupon barrier/trigger level: | $9.48, 59.75% of initial level
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| Pricing date: | June 2
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| Settlement date: | June 7
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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: | 25155MBL4
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