By Angela McDaniels
Tacoma, Wash., July 27 - Deutsche Bank AG, London Branch priced $1.69 million of 0% buffered barrier rebate securities due Jan. 27, 2011 linked to the iShares MSCI Emerging Markets index fund, according to a 424B2 filing with the Securities and Exchange Commission.
A barrier event will occur if the exchange-traded fund's shares close above the upper barrier - 150% of the initial level - on any day during the life of the notes.
If a barrier event has occurred, the payout at maturity will be:
• Par plus the rebate if the final share price is at least 90% of the initial level; or
• Par plus the rebate and minus 1% for every 1% that the share price declines below 90% of the initial level.
The rebate is 27%.
If a barrier event has not occurred, the payout will be:
• Par plus any share price gain;
• Par if the share price declines by 10% or less; or
• Par minus 1% for every 1% that the share price declines beyond 10%.
Deutsche Bank Securities Inc. and Deutsche Bank Trust Co. Americas are the agents.
| Issuer: | Deutsche Bank AG, London Branch
|
| Issue: | Buffered barrier rebate securities
|
| Underlying ETF: | iShares MSCI Emerging Markets index fund
|
| Amount: | $1,694,000
|
| Maturity: | Jan. 27, 2011
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If barrier event has not occurred, par plus any share price gain, par if share price falls by no more than 10% or par minus 1% for every 1% decline beyond 10%; if barrier event has occurred and final share price is at least 90% of initial price, par plus 27%, otherwise par plus 27% and minus 1% for every 1% decline beyond 10%
|
| Initial share price: | $35.57
|
| Upper barrier: | $53.36, 150% of initial price
|
| Pricing date: | July 23
|
| Settlement date: | July 28
|
| Agents: | Deutsche Bank Securities Inc. and Deutsche Bank Trust Co. Americas
|
| Fees: | 0.75%
|
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