Published on 6/29/2011 in the Prospect News Structured Products Daily.
New Issue: Deutsche Bank prices $870,440 step performance notes linked to S&P 500
By Angela McDaniels
Tacoma, Wash., June 29 - UBS AG, London Branch priced $870,440 of 0% step performance securities due June 28, 2013 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index return is zero or positive, the payout at maturity will be par of $10 plus the greater of the index return and 17%. Investors will be fully exposed to any decline in the index.
UBS Financial Services Inc. and Deutsche Bank Securities Inc. are the agents.
Issuer: | Deutsche Bank AG, London Branch
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Issue: | Step performance securities
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Underlying index: | S&P 500
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Amount: | $870,440
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Maturity: | June 28, 2013
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | Par plus greater of index return and 17% if index return is zero or greater; par plus index return if index return is negative
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Initial index level: | 1,280.1
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Pricing date: | June 27
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Settlement date: | June 30
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Underwriters: | UBS Financial Services Inc. and Deutsche Bank Securities Inc.
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Fees: | 2%
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Cusip: | 25154W571
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