By Susanna Moon
Chicago, June 26 - Deutsche Bank AG, London Branch priced $2.92 million of trigger phoenix autocallable optimization securities due June 29, 2018 linked to Wells Fargo & Co. shares, according to a 424B2 filing with the Securities and Exchange Commission.
If Wells Fargo stock closes at or above the trigger price - 68.4% of the initial share price - on a monthly observation date, the notes will pay a contingent coupon at an annualized rate of 7% for that month.
The notes will be called at par of $10 plus the contingent coupon if Wells Fargo shares close at or above the initial price on a monthly observation date after one year.
The payout at maturity will be par plus the contingent coupon unless Wells Fargo shares finish below the trigger level, in which case investors will be exposed to any losses.
UBS Financial Services Inc. and Deutsche Bank Securities Inc. are the underwriters.
| Issuer: | Deutsche Bank AG, London Branch
|
| Issue: | Trigger phoenix autocallable optimization securities
|
| Underlying stock: | Wells Fargo & Co. (NYSE: WFC)
|
| Amount: | $2,920,180
|
| Maturity: | June 29, 2018
|
| Coupon: | 7%, payable monthly if stock closes at or above trigger price on observation date for that month
|
| Price: | Par of $10.00
|
| Payout at maturity: | Par plus contingent coupon if Wells Fargo shares finish at or above trigger price; otherwise, par plus stock return
|
| Call: | At par plus contingent coupon if Wells Fargo shares close at or above initial price on a monthly observation date beginning
|
| Initial share price: | $40.96
|
| Trigger price: | $28.02, 68.4% of initial price
|
| Pricing date: | June 21
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| Settlement date: | June 28
|
| Underwriters: | UBS Financial Services Inc. and Deutsche Bank Securities Inc.
|
| Fees: | 2.5%
|
| Cusip: | 25155H268
|
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