By Marisa Wong
Madison, Wis., Nov. 5 - Deutsche Bank AG, London Branch priced $815,000 of phoenix autocallable notes due Nov. 19, 2014 linked to the common stock of Yum! Brands, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
If Yum! Brands shares close at or above the barrier price - 85% of the initial share price - on any quarterly observation date, the issuer will pay a contingent coupon of 10.45%. Otherwise, no coupon will be paid for that period.
If the stock closes at or above the initial price on any quarterly observation date, the notes will be called at par plus the contingent coupon.
If the notes are not called and the shares finish at or above the barrier price, the payout at maturity will be par plus the contingent coupon. Investors will be exposed to any losses.
JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC are the placement agents.
| Issuer: | Deutsche Bank AG, London Branch
|
| Issue: | Phoenix autocallable notes
|
| Underlying stock: | Yum! Brands, Inc. (Symbol: YUM)
|
| Amount: | $815,000
|
| Maturity: | Nov. 19, 2014
|
| Coupon: | 10.45%, payable quarterly if Yum! Brands shares close at or above barrier price on any quarterly observation date; otherwise, no coupon will be paid for that period
|
| Price: | Par
|
| Payout at maturity: | If shares finish at or above barrier price, par plus contingent coupon; investors will be exposed to any losses
|
| Call: | At par plus contingent coupon if stock closes at or above the initial price on any quarterly observation date
|
| Initial price: | $68.48
|
| Threshold price: | $58.21, 85% of initial price
|
| Pricing date: | Nov. 1
|
| Settlement date: | Nov. 6
|
| Agents: | JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC (placement)
|
| Fees: | 1%
|
| Cusip: | 25152RFJ7
|
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