By Susanna Moon
Chicago, Jan. 5 – Deutsche Bank AG, London Branch priced $2.23 million of trigger phoenix autocallable optimization securities due Jan. 4, 2019 linked to the least performing of the MSCI EAFE index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 8.4% if each index closes at or above its coupon barrier, 70% of its initial level, on the observation date for that quarter.
The notes will be called at par plus the contingent coupon if each index closes at or above its initial level on any quarterly observation date beginning after six months.
If the notes are not called and each index finishes at or above its 70% trigger level, the payout at maturity will be par plus the contingent coupon.
Otherwise, investors will be fully exposed to any losses of the worst performing index.
UBS Financial Services Inc. and Deutsche Bank Securities Inc. are the agents.
| Issuer: | Deutsche Bank AG, London Branch
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| Issue: | Trigger phoenix autocallable optimization securities
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| Underlying indexes: | MSCI EAFE and Russell 2000
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| Amount: | $2,226,500
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| Maturity: | Jan. 4, 2019
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| Coupon: | 8.4% annualized for each quarter that each index closes at or above coupon barrier level on quarterly observation date
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| Price: | Par
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| Payout at maturity: | If each index finishes at or above barrier level, par plus coupon; otherwise, full exposure to losses of worst performing index
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| Call: | At par if each index closes at or above initial level on any quarterly observation date after six months
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| Initial levels: | 1,731.54 for MSCI EAFE, 1,160.522 for Russell
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| Barrier levels: | 1,212.08 for MSCI EAFE, 812.365 for Russell; 70% of initial levels
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| Pricing date: | Dec. 29
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| Settlement date: | Dec. 31
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| Agents: | UBS Financial Services Inc. and Deutsche Bank Securities Inc.
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| Fees: | 3.5%
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| Cusip: | 25190F509
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