Published on 1/23/2008 in the Prospect News Structured Products Daily.
New Issue: Deutsche Bank prices $6.13 million autocallable notes linked to PHLX Housing Sector
By Jennifer Chiou
New York, Jan. 23 - Deutsche Bank AG, London Branch priced $6.13 million of zero-coupon autocallable optimization securities with contingent protection due Jan. 25, 2010 linked to the PHLX Housing Sector index, according to a 424B2 filing with the Securities and Exchange Commission.
The securities will be called at increasing premiums if the index closes at or above the initial index level on an observation date. The redemption amount will be par plus 26% if the securities are called on Jan. 26, 2009, par plus 32.5% if called on April 20, 2009, par plus 39% if called on July 20, 2009, par plus 45.5% if called on Oct. 20, 2009 and par plus 52% if called on Jan. 20, 2010.
If the securities are not called, the payout at maturity will be par of $10 unless the index closes below the trigger level - 60% of the initial index level - during the life of the securities, in which case the payout will be par minus the index loss.
UBS Financial Services Inc. and Deutsche Bank Securities Inc. are the agents.
| Issuer: | Deutsche Bank AG, London Branch
|
| Issue: | Autocallable optimization securities
|
| Underlying index: | PHLX Housing Sector
|
| Amount: | $6,133,950
|
| Maturity: | Jan. 25, 2010
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | If the index closes below the trigger level during the life of the notes, par minus any index loss; otherwise, par
|
| Call: | If index closes at or above the initial index level on a call date; payout will be par plus 26% if called Jan. 26, 2009, par plus 32.5% if called April 20, 2009, par plus 39% if called July 20, 2009, par plus 45.5% if called on Oct. 20, 2009 and par plus 52% if called Jan. 20, 2010
|
| Initial index level: | 123.07
|
| Trigger level: | 73.84, 60% of initial level
|
| Pricing date: | Jan. 18
|
| Settlement date: | Jan. 24
|
| Underwriters: | UBS Financial Services Inc. and Deutsche Bank Securities Inc.
|
| Fees: | 2%
|
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