By Jennifer Chiou
New York, Jan. 21 - Deutsche Bank AG, London Branch priced $2 million of autocallable securities due Jan. 25, 2012 linked to a basket of three common stocks, according to a 424B2 filing with the Securities and Exchange Commission.
The basket includes Citigroup Inc., JPMorgan Chase & Co. and Wells Fargo & Co.
The securities will be automatically called at an annualized return of 33.6% if the closing price of each stock is equal to or greater than its initial value on any observation date. The observation dates will fall on April 18, July 18, 2011, Oct. 18, 2011 and Jan. 20, 2012.
If the notes are not called and the closing price of each of the stocks remains at or above the trigger price, 70% of the initial level, on the quarterly observation dates, the payout at maturity will be par.
If, however, any of the stocks closes below the trigger price on those dates, investors will share fully in the losses of the least-performing stock.
Deutsche Bank Securities is the underwriter.
| Issuer: | Deutsche Bank AG, London Branch
|
| Issue: | Autocallable securities
|
| Underlying stocks: | Citigroup Inc. (Symbol: C), JPMorgan Chase & Co. (Symbol: JPM) and Wells Fargo & Co. (Symbol: WFC)
|
| Amount: | $2 million
|
| Maturity: | Jan. 25, 2012
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par unless any stock closes below 70% of its initial price on any observation date, in which case investors share in losses of worst-performing stock
|
| Call: | Automatically at 33.6% per year if each stock closes at or above its initial price on a quarterly observation date
|
| Initial stock prices: | $4.80 for Citigroup Inc.; $44.75 for JPMorgan Chase & Co.; and $32.49 for Wells Fargo & Co.
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| Knock-in prices: | $3.36 for Citigroup Inc.; $31.33 for JPMorgan Chase & Co.; and $22.74 for Wells Fargo & Co.
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| Pricing date: | Jan. 19
|
| Settlement date: | Jan. 21
|
| Underwriter: | Deutsche Bank Securities
|
| Fees: | 1%
|
| Cusip: | 2515A13D1
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