By Marisa Wong
Madison, Wis., Jan. 21 – Deutsche Bank AG, London Branch priced $2.49 million of phoenix autocallable securities due Feb. 3, 2016 linked to the common stock of Valeant Pharmaceuticals International, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
If Valeant Pharmaceuticals stock closes at or above the barrier price – 65% of the initial share price – on a quarterly observation date, the issuer will pay a contingent coupon for that quarter at the rate of 14.05% per year. Otherwise, no coupon will be paid that quarter.
If the shares close at or above the initial price on a quarterly observation date, the notes will be called at par plus the contingent coupon.
If the notes are not called and Valeant Pharmaceuticals shares finish at or above the barrier price, the payout at maturity will be par plus the contingent coupon. Otherwise, investors will be fully exposed to the share price decline.
JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC are the placement agents.
Issuer: | Deutsche Bank AG, London Branch
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Issue: | Phoenix autocallable securities
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Underlying stock: | Valeant Pharmaceuticals International, Inc. (Symbol: VRX)
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Amount: | $2.49 million
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Maturity: | Feb. 3, 2016
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Coupon: | 14.05%, payable quarterly if stock closes at or above barrier price on observation date for that quarter
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Price: | Par
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Payout at maturity: | Par plus contingent coupon if Valeant Pharmaceuticals shares finish at or above barrier price; otherwise, full exposure to losses
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Call: | Automatically at par plus contingent coupon if Valeant Pharmaceuticals shares close at or above initial price on a quarterly observation date
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Initial share price: | $156.93
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Barrier price: | $102.00, 65% of initial price
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Pricing date: | Jan. 16
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Settlement date: | Jan. 22
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Placement agents: | JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC
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Fees: | 1%
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Cusip: | 25152RUC5
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