Published on 1/26/2007 in the Prospect News Structured Products Daily.
New Issue: Deutsche Bank prices $25.1 million 0% absolute return barrier notes linked to S&P 500
By Jennifer Chiou
New York, Jan. 26 - Deutsche Bank AG, London Branch priced a $25.1 million issue of zero-coupon principal-protected absolute return barrier notes due July 31, 2008 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index does not close above the upper index barrier of 1,744.72 or below the lower index barrier of 1,135.54 during the life of the notes, the payout at maturity will be par of $10.00 plus the absolute value of the index's gain or decline, if any, on July 24, 2008.
If the index crosses one or both of the barriers during the life of the notes, the payout at maturity will be par.
The upper index barrier is 21.15% above the initial index level, and the lower index barrier is 21.15% below the initial index level.
UBS Financial Services Inc. and Deutsche Bank Securities are the underwriters.
| Issuer: | Deutsche Bank AG, London Branch
|
| Issue: | Principal-protected absolute return barrier notes
|
| Underlying index: | S&P 500
|
| Amount: | $25.1 million
|
| Maturity: | July 31, 2008
|
| Coupon: | 0%
|
| Price: | Par of $10.00
|
| Payout at maturity: | Par plus the absolute value of the index's gain or decline, if any, on July 24, 2008, if the index stays within the lower and upper index barriers; par if the index crosses one or both of the barriers during the life of the notes
|
| Initial index level: | 1,440.13
|
| Upper index barrier: | 1,744.72, 21.15% above initial level
|
| Lower index barrier: | 1,135.54, 21.15% below initial level
|
| Pricing date: | Jan. 24
|
| Settlement date: | Jan. 31
|
| Underwriters: | UBS Financial Services Inc., Deutsche Bank Securities
|
| Fees: | 1.75%
|
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