By Susanna Moon
Chicago, July 28 – Deutsche Bank AG, London Branch priced $2.65 million of trigger phoenix autocallable optimization securities due July 31, 2018 linked to Schlumberger NV shares, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 8% if Schlumberger stock closes at or above the 78.5% trigger level on an observation date for that quarter.
The notes will be called at par of $10 plus the contingent coupon if the shares close at or above the initial price on any quarterly observation date after the first six months.
The payout at maturity will be par plus the contingent coupon unless Schlumberger shares finish below the 78.5% trigger level, in which case investors will be fully exposed to any losses.
UBS Financial Services Inc. and Deutsche Bank Securities Inc. are the underwriters.
| Issuer: | Deutsche Bank AG, London Branch
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| Issue: | Trigger phoenix autocallable optimization securities
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| Underlying stock: | Schlumberger NV (Symbol: SLB)
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| Amount: | $2,651,000
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| Maturity: | July 31, 2018
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| Coupon: | 8% per year, payable quarterly if stock closes at or above trigger price on observation date for that quarter
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| Price: | Par of $10.00
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| Payout at maturity: | Par plus contingent coupon if Schlumberger shares finish at or above trigger price; otherwise, par plus stock return
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| Call: | At par plus contingent coupon if Schlumberger shares close at or above initial price on quarterly observation date after six months
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| Initial level: | $82.90
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| Trigger level: | $65.08, 78.5% of initial level
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| Pricing date: | July 24
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| Settlement date: | July 31
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| Underwriters: | UBS Financial Services Inc. and Deutsche Bank Securities Inc.
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| Fees: | 2%
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| Cusip: | 25190J543
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