By Susanna Moon
Chicago, Sept. 19 - Deutsche Bank AG, London Branch priced $2 million of phoenix autocallable securities due Oct. 6, 2014 linked to Outerwall 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 10.15% if Outerwall stock closes at or above the 65% barrier level on an observation date 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 Outerwall shares finish at or above the 65% threshold level, the payout at maturity will be par plus the contingent coupon.
Otherwise, investors will be fully exposed to any losses.
JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC are the placement agents.
| Issuer: | Deutsche Bank AG, London Branch
|
| Issue: | Phoenix autocallable securities
|
| Underlying stock: | Outerwall Inc. (Symbol: OUTR)
|
| Amount: | $2 million
|
| Maturity: | Oct. 6, 2014
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| Coupon: | 10.15% per year, payable quarterly if stock closes at or above barrier on observation date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par plus contingent coupon if Outerwall shares finish at or above barrier level; otherwise, exposure to any losses
|
| Call: | At par plus contingent coupon if Outerwall shares close at or above initial price on any quarterly observation date
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| Initial share price: | $49.49
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| Barrier level: | $32.17, 65% of initial share price
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| Pricing date: | Sept. 17
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| Settlement date: | Sept. 20
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| Agents: | JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC
|
| Fees: | 1%
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| Cusip: | 25152REU3
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