Published on 12/30/2010 in the Prospect News Structured Products Daily.
New Issue: Deutsche prices $4.75 million 10.1% yield optimization notes on Cummins via UBS
By Marisa Wong
Madison, Wis., Dec. 30 - Deutsche Bank AG, London Branch priced $4.75 million of 10.1% yield optimization notes with contingent protection due Dec. 30, 2011 linked to the common stock of Cummins Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Each note has a face amount of $110.13, which is equal to the initial share price of Cummins stock.
Interest is payable monthly.
The payout at maturity will be par unless the final share price is less than 80% of the initial share price, in which case the payout will be one Cummins share per note.
UBS Financial Services Inc. and Deutsche Bank Securities Inc. are the agents.
Issuer: | Deutsche Bank AG, London Branch
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Issue: | Yield optimization notes with contingent protection
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Underlying stock: | Cummins Inc. (Symbol: CMI)
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Amount: | $4,754,532.36
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Maturity: | Dec. 30, 2011
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Coupon: | 10.1%, payable monthly
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Price: | Par of $110.13
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Payout at maturity: | If final share price is less than trigger price, one Cummins share; otherwise, par
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Initial share price: | $110.13
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Trigger price: | $88.10, 80% of initial price
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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: | 2%
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Cusip: | 25154P626
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