Published on 8/29/2014 in the Prospect News Structured Products Daily.
New Issue: Deutsche Bank prices $9.1 million autocallable securities on Russell, Euro Stoxx
By Marisa Wong
Madison, Wis., Aug. 29 – Deutsche Bank AG, London Branch priced $9.1 million of 0% autocallable securities due Aug. 31, 2017 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.
The notes will be automatically called at par plus a redemption premium of 12.2% per year if each underlying index closes at or above the applicable call level on an annual review date. The call level is 100% of the initial level for the first review date, 95% of the initial level for the second review date and 90% of the initial level for the third review date.
If the notes are not called and the final level of the lower performing index is at least 75% of its initial level, the payout at maturity will be par. Otherwise, the payout will be par plus the return of the lower performing index, and investors will be fully exposed to the decline.
Deutsche Bank Securities Inc. is the agent.
| Issuer: | Deutsche Bank AG, London Branch
|
| Issue: | Autocallable securities
|
| Underlying indexes: | Russell 2000 index and Euro Stoxx 50 index
|
| Amount: | $9,102,000
|
| Maturity: | Aug. 31, 2017
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If final level of lower performing index is at least 75% of its initial level, par; otherwise, par plus return of lower performing index, with full exposure to losses
|
| Call: | Automatically at par plus 12.2% per year if each underlying index closes at or above call level on annual review date
|
| Initial levels: | 1,175.170 for Russell, 3,197.54 for Euro Stoxx
|
| Knock-in levels: | 881.378 for Russell, 2,398.16 for Euro Stoxx; 75% of initial levels
|
| Call levels: | 100% of initial level if called Aug. 28, 2015; 95% of initial level if called Aug. 26, 2016; 90% of initial level if called Aug. 28, 2017
|
| Pricing date: | Aug. 26
|
| Settlement date: | Aug. 29
|
| Agent: | Deutsche Bank Securities Inc.
|
| Fees: | 2.25%
|
| Cusip: | 25152RNJ8
|
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