Published on 8/28/2015 in the Prospect News Structured Products Daily.
New Issue: Deutsche Bank prices $8.45 million trigger phoenix autocallables linked to Euro Stoxx, Russell
By Angela McDaniels
Tacoma, Wash., Aug. 28 – Deutsche Bank AG, London Branch priced $8.45 million of trigger phoenix autocallable optimization securities due Aug. 31, 2018 linked to the lesser performing of the Euro Stoxx 50 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes will pay a contingent coupon at an annual rate of 9.76% if each index closes at or above its barrier level, 70% of its initial level, on the observation date for that quarter.
Beginning Feb. 25, 2016, the notes will be called at par if each index closes at or above its initial level on any quarterly observation date.
If the notes are not called and each index finishes at or above its barrier level, the payout at maturity will be par plus the final contingent coupon. Otherwise, investors will be exposed to the decline of the lesser-performing index.
UBS Financial Services Inc. and Deutsche Bank Securities Inc. are the agents.
| Issuer: | Deutsche Bank AG, London Branch
|
| Issue: | Trigger phoenix autocallable optimization securities
|
| Underlying indexes: | Euro Stoxx 50 and Russell 2000
|
| Amount: | $8,452,250
|
| Maturity: | Aug. 31, 2018
|
| Coupon: | 9.76% per year, payable quarterly if each index closes at or above barrier level on observation date for that quarter
|
| Price: | Par of $10
|
| Payout at maturity: | Par plus contingent coupon if each index finishes at or above barrier level; otherwise, full exposure to decline of lesser-performing index
|
| Call: | Automatically at par if each index closes at or above initial level on any quarterly observation date from Feb. 25, 2016 onward
|
| Initial index levels: | 3,280.78 for Euro Stoxx 50 and 1,153.608 for Russell 2000
|
| Trigger levels: | 2,296.55 for Euro Stoxx 50 and 807.526 for Russell 2000; 70% of initial levels
|
| Pricing date: | Aug. 27
|
| Settlement date: | Aug. 31
|
| Agents: | UBS Financial Services Inc. and Deutsche Bank Securities Inc.
|
| Fees: | 2%
|
| Cusip: | 25190F129
|
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