By Toni Weeks
San Diego, May 18 - Deutsche Bank AG, London Branch priced $6.36 million of high/low coupon autocallable securities due May 22, 2013 linked to the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
A knock-in event occurs if either index falls to or below 75% of its initial level during the life of the notes.
If a knock-in event never occurs, the coupon will be 14.32%. If a knock-in event occurs during any quarterly observation period, the coupon for that interest period and each subsequent quarterly interest period will be 1%. Interest is payable on the third business date after Nov. 16 and at maturity.
The notes will be called at par plus the accrued coupon if both indexes close at or above their initial levels on any quarterly observation date.
If the notes are not called, the payout at maturity will be par unless either index falls to or below its knock-in level during the life of the notes, in which case investors will receive par plus the return of the worst-performing index, up to a maximum payout of par.
Deutsche Bank Securities Inc. is the agent.
| Issuer: | Deutsche Bank AG, London Branch
|
| Issue: | High/low coupon autocallable securities
|
| Underlying indexes: | S&P 500 and Russell 2000
|
| Amount: | $6,362,000
|
| Maturity: | May 22, 2013
|
| Coupon: | 14.32% if knock-in event does not occur during life of notes; otherwise, 1% for that interest period and each subsequent quarterly interest period; payable on third business date after Nov. 16 and at maturity
|
| Price: | Par
|
| Payout at maturity: | Par unless either index falls to or below knock-in level during life of notes, in which case par plus return of worst-performing index, maximum of par
|
| Call: | At par plus accrued coupon if both indexes close at or above their initial levels on a quarterly observation date
|
| Initial levels: | 1,324.80 for S&P 500 and 722.11 for Russell 2000
|
| Knock-in levels: | 993.60 for S&P 500 and 541.58 for Russell 2000; 75% of initial levels
|
| Pricing date: | May 16
|
| Settlement date: | May 21
|
| Agent: | Deutsche Bank Securities Inc.
|
| Fees: | None
|
| Cusip: | 2515A1JW2
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
