By Jennifer Chiou
New York, Dec. 9 – Deutsche Bank AG, London Branch priced $2.06 million of phoenix autocallable securities due June 13, 2016 linked to the common stock of Silver Wheaton Corp., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 15.4% if Silver Wheaton stock closes at or above the barrier level, 70% of the initial share price, on the observation date for that quarter.
The notes will be called at par plus the contingent coupon if Silver Wheaton shares close at or above the initial share price on any quarterly observation date.
If the notes are not called and Silver Wheaton shares finish at or above the barrier level, the payout at maturity will be par plus the contingent coupon.
Otherwise, investors will be fully exposed to any losses.
Deutsche Bank Securities Inc. is the agent.
| Issuer: | Deutsche Bank AG, London Branch
|
| Issue: | Phoenix autocallable securities
|
| Underlying stock: | Silver Wheaton Corp. (NYSE: SLW)
|
| Amount: | $2.06 million
|
| Maturity: | June 13, 2016
|
| Coupon: | 15.4% per year, payable quarterly if Silver Wheaton shares close at or above barrier price on observation date for that quarter; otherwise, no coupon will be paid for that quarter
|
| Price: | Par
|
| Payout at maturity: | If shares finish at or above trigger price, par plus contingent coupon; otherwise, investors will be exposed to the decline in the stock price from the initial price to the final price
|
| Call: | At par plus contingent coupon if stock closes at or above initial price on any quarterly observation date other than the final review date
|
| Initial price: | $21.15
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| Barrier/trigger price: | $14.81, 70% of initial price
|
| Pricing date: | Dec. 4
|
| Settlement date: | Dec. 11
|
| Agent: | Deutsche Bank Securities Inc.
|
| Fees: | 1.25%
|
| Cusip: | 25152RTC7
|
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