By Marisa Wong
Madison, Wis., Dec. 9 – Deutsche Bank AG, London Branch priced $3.16 million of high/low coupon autocallable securities due June 9, 2016 linked to the Russell 2000 index and the iShares MSCI EAFE exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
A knock-out event occurs if either underlying component closes below 75% of its initial level on any day during the life of the notes.
If a knock-out event never occurs, the coupon will be 12.3%. If a knock-in event occurs during any quarterly observation period, the coupon for that interest period and each subsequent interest period is expected to be 1%. Interest is payable quarterly.
The notes will be automatically called at par plus the coupon if each component closes at or above its respective initial level on any quarterly observation date.
If the notes are not called, the payout at maturity will be par unless a knock-out event occurs, in which case investors will receive par plus the return of the worst-performing component, 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
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| Underlying components: | Russell 2000 index and iShares MSCI EAFE ETF
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| Amount: | $3,161,000
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| Maturity: | June 9, 2016
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| Coupon: | 12.3% if neither component falls to or below knock-out level during quarterly observation period; otherwise, 1% for that period and afterward; payable quarterly
|
| Price: | Par
|
| Payout at maturity: | If knock-out event occurs, par plus return of worst-performing component, capped at par; otherwise, par
|
| Knock-out event: | Either underlying component falls to or below 75% of its initial level during the life of the notes
|
| Call: | Automatically at par plus coupon if each component closes at or above its respective initial level on any quarterly observation date
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| Initial levels: | 1,182.431 for index, $63.96 for ETF
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| Knock-out levels: | 886.823 for index, $47.97 for ETF, 75% of initial levels
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| Pricing date: | Dec. 5
|
| Settlement date: | Dec. 10
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| Agent: | Deutsche Bank Securities Inc.
|
| Fees: | None
|
| Cusip: | 25152RTB9
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