By Toni Weeks
San Luis Obispo, Calif., May 22 - Deutsche Bank AG, London Branch priced $2.81 million of high/low coupon autocallable securities due May 26, 2015 linked to the lesser performing of the Russell 2000 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
A knock-in event occurs if either index falls to or below 70% of its initial level during the life of the notes.
If a knock-in event never occurs, the coupon will be 6.6% per year. 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 quarterly.
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.
Deutsche Bank Securities Inc. is the agent.
| Issuer: | Deutsche Bank AG, London Branch
|
| Issue: | High/low coupon autocallable securities
|
| Underlying indexes: | Russell 2000, Euro Stoxx 50
|
| Amount: | $2,812,000
|
| Maturity: | May 26, 2015
|
| Coupon: | 6.6% if knock-in event does not occur during life of notes; otherwise, 1% for that interest period and each subsequent quarterly interest period; payable quarterly
|
| 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
|
| Call: | At par plus accrued coupon if both indexes close at or above their initial levels on a quarterly observation date
|
| Initial levels: | 1,097.895 for Russell, 3,163.93 for Euro Stoxx
|
| Knock-in levels: | 768.527 for Russell, 2,214.751 for Euro Stoxx; 70% of initial levels
|
| Pricing date: | May 20
|
| Settlement date: | May 23
|
| Agent: | Deutsche Bank Securities Inc.
|
| Fees: | None
|
| Cusip: | 25152RKF9
|
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