By Jennifer Chiou
New York, June 26 - Deutsche Bank AG, London Branch priced a $3 million offering of Constant Maturity Swap (CMS) spread range notes due June 27, 2022, according to a 424B2 filing with the Securities and Exchange Commission.
The notes pay 7.8% interest for the first year. After the first year, the interest payment will be the 7.8% base interest rate multiplied by the proportion of days on which the 30-year CMS rate is equal to or higher than the two-year CMS rate.
Interest is payable quarterly.
The notes are callable on any interest payment date beginning in June 2008.
Deutsche Bank Securities Inc. and Deutsche Bank Trust Co. Americas are the agents.
| Issuer: | Deutsche Bank AG, London Branch
|
| Issue: | CMS spread range notes
|
| Amount: | $3 million
|
| Maturity: | June 27, 2022
|
| Coupon: | 7.8% for the first year; after that, 7.8% multiplied by the proportion of days on which the spread of the 30-year CMS rate over the two-year CMS rate is equal to or greater than zero; payable quarterly
|
| Price: | Par
|
| Call: | On any interest payment dates starting in June 2008
|
| Pricing date: | June 22
|
| Settlement date: | June 27
|
| Agents: | Deutsche Bank Securities Inc., Deutsche Bank Trust Co. Americas
|
| Fees: | 1.5%
|
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