By Laura Lutz
Des Moines, Nov. 29 - Deutsche Bank AG, London Branch priced $18.98 million of call warrants linked to the Deutsche Bank Balanced Currency Harvest index, according to a 424B2 filing with the Securities and Exchange Commission.
The warrants expire on Jan. 28, 2013.
The warrants will be automatically exercised on the expiration date if the final index level is greater than the initial level. In that case, investors will receive the notional amount - $80 per warrant - times the index return.
The notional amount is equal to the issue price of $10 per warrant divided by the warrant premium, which is 12.5%. Therefore, investors will lose part of their investment in the warrants if the index return is positive but less than 12.5%.
If the final index level is not greater than the initial level, the warrants will expire worthless and investors will lose their entire investments. Investors may not exercise their warrants prior to the expiration date.
UBS Financial Services Inc. is the underwriter.
| Issuer: | Deutsche Bank AG, London Branch
|
| Issue: | Call warrants
|
| Underlying index: | Deutsche Bank Balanced Currency Harvest index
|
| Amount: | $18.98 million
|
| Expiration: | Jan. 28, 2013
|
| Coupon: | 0%
|
| Price: | $10
|
| Payout upon exercise: | $80 times index return
|
| Warrant premium: | 12.5%
|
| Initial index level: | 256.81
|
| Pricing date: | Nov. 27
|
| Settlement date: | Nov. 30
|
| Underwriter: | UBS Financial Services Inc.
|
| Fees: | 5%
|
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