By Marisa Wong
Morgantown, W.Va., Sept. 30 – Deutsche Bank AG, London Branch priced $17.39 million of 0% autocallable market-linked step-up notes due Sept. 25, 2020 tied to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at par of $10 plus a call premium of 8.5% per year if the index closes at or above the initial level on any of four annual observation dates.
If the index finishes above the step-up level – 130% of the initial value – the payout at maturity will be par plus the index return.
If the index gains by up to the step-up level, the payout will be par plus the step-up payment of 30%.
If the index falls by up to 15%, the payout will be par.
Otherwise, investors will be fully exposed to any index decline beyond 15%.
BofA Merrill Lynch is the agent.
| Issuer: | Deutsche Bank AG, London Branch
|
| Issue: | Autocallable market-linked step-up notes
|
| Underlying index: | Russell 2000
|
| Amount: | $17,387,340
|
| Maturity: | Sept. 25, 2020
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | If index finishes above step-up level, par plus gain; if index gains up to step-up value, par plus 30%; if index falls by up to 15%, par; full exposure to any index decline beyond 15%
|
| Call: | At par of $10 plus a call premium of 8.5% per year if the index closes at or above the initial level on any of four annual observation dates
|
| Initial level: | 1,137.536
|
| Step-up level: | 1,478.797, 130% of initial level
|
| Pricing date: | Sept. 24
|
| Settlement date: | Oct. 1
|
| Agent: | BofA Merrill Lynch
|
| Fees: | 2%
|
| Cusip: | 25190J360
|
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