By Jennifer Chiou
New York, Sept. 30 – Deutsche Bank AG, London Branch priced $5.25 million of 0% capped knock-out notes due Jan. 20, 2016 linked to the performance of WTI crude oil futures contracts, according to a 424B2 filing with the Securities and Exchange Commission.
A knock-out event occurs if the final price closes below the knock-out price, 90% of the initial price. The final price will be the average of the closing prices on the five averaging dates beginning on Jan. 8, 2016 and ending on Jan. 14, 2016.
If a knock-out event does not occur, the payout at maturity will be par plus the greater of zero and the oil return, subject to a maximum return of 23.2%.
If a knock-out event does occur, the payout will share in losses.
JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC are the placement agents.
| Issuer: | Deutsche Bank AG, London Branch
|
| Issue: | Capped knock-out notes
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| Underlying commodity: | WTI crude oil
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| Amount: | $5.25 million
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| Maturity: | Jan. 20, 2016
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| Coupon: | 0%
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| Price: | Par
|
| Payout at maturity: | If knock-out event does not occur, par plus greater of zero and oil return, subject to 23.2% maximum return; if knock-out event does occur, exposure to losses
|
| Initial oil price: | $92.53
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| Knock-out price: | $83.28, 90% of initial oil price
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| Pricing date: | Sept. 25
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| Settlement date: | Sept. 30
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| Placement agents: | JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC
|
| Fees: | 1%
|
| Cusip: | 25152RQT3
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