By E. Janene Geiss
Philadelphia, March 28 - Deutsche Bank AG, London Branch priced a $15 million offering of 0% performance securities with contingent protection due March 30, 2012 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par of $10 plus 109% of any gain on the index.
If the index does not decline below the trigger level of 718.75, 50% of its initial level, the payout will be par. If the index does fall below the trigger at any time during the life of the notes then investors will share in any losses.
UBS Financial Services Inc. and Deutsche Bank Securities Inc. are agents.
Issuer: | Deutsche Bank AG, London Branch
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Issue: | Performance securities with contingent protection
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Underlying index: | S&P 500
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Amount: | $15 million
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Maturity: | March 30, 2012
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | Par plus 109% of any index gain; if the index does not decline below the trigger level of 718.75, 50% of its initial level, the payout will be par. If the index does fall below the trigger at any time during the life of the notes then investors will share in any losses
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Initial index level: | 1,437.50
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Trigger level: | 718.75 (50% of initial index level)
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Pricing date: | March 26
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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: | 3.5%
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