By Jennifer Chiou
New York, March 27 - Deutsche Bank AG, London Branch priced a $11.25 million offering of 0% performance securities due March 30, 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 $10.00 plus 225% of any gain on the index. Investors will be fully exposed to any decline in the index.
UBS Financial Services Inc. and Deutsche Bank Securities Inc. are joint agents.
Issuer Deutsche Bank AG, London Branch
Issue: | Performance securities
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Underlying index: | Deutsche Bank Balanced Currency Harvest (USD)
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Amount: | $11.25 million
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Maturity: | March 30, 2009
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Coupon: | 0%
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Price: | Par of $10.00
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Payout at maturity: | Par plus 225% of any index gain; full exposure to any index decline
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Initial index level: | 245.99
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Pricing date: | March 23
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Settlement date: | March 30
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Underwriters: | UBS Financial Services Inc. and Deutsche Bank Securities Inc.
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Underwriting discount: | 2%
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