By Angela McDaniels
Seattle, Feb. 23 - Deutsche Bank AG, London Branch priced a $36.5 million offering of 0% performance securities due Feb. 27, 2009 linked to the Deutsche Bank Balanced Currency Harvest (USD) index, according to a 424B2 filing with the Securities and Exchange Commission.
The index is designed to capitalize on the trend that currencies associated with high interest rates, on average, tend to rise in value relative to currencies associated with relatively low interest rates.
The payout at maturity will be par of $10 plus 235% of any gain on the index. Investors will be fully exposed to any decline in the index.
Issuer Deutsche Bank AG, London Branch
| Issue: | Performance securities
|
| Underlying index: | Deutsche Bank Balanced Currency Harvest (USD)
|
| Amount: | $36.5 million
|
| Maturity: | Feb. 27, 2009
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | Par plus 235% of any index gain; full exposure to any index decline
|
| Initial index level: | 247.34
|
| Pricing date: | Feb. 21
|
| Settlement date: | Feb. 28
|
| Underwriters: | UBS Financial Services Inc. and Deutsche Bank Securities Inc.
|
| Underwriting discount: | 2%
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