By Laura Lutz
Des Moines, May 1 - Deutsche Bank AG, London Branch priced a $4.927 million issue of principal-protected CMS slope steepener notes due May 2, 2022, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is variable and will be payable quarterly.
The notes will bear interest at a fixed rate of 12% for the first year.
After that, the interest rate will equal 50 times the spread of the 30-year Constant Maturity Swap (CMS) rate over the 10-year CMS rate. This rate will be reset quarterly and will be subject to a maximum interest rate of 20%.
The notes are callable at par plus accrued interest on any interest payment date beginning May 2008.
If the notes are not called, the payout at maturity will be par plus accrued interest.
Deutsche Bank Securities, Inc. and Deutsche Bank Trust Co. Americas are the agents.
| Issuer: | Deutsche Bank AG, London Branch
|
| Issue: | CMS (Constant Maturity Swap) slope steepener notes
|
| Amount: | $4.927 million
|
| Maturity: | May 2, 2022
|
| Interest rate: | 12% for the first year; after that, 50 times the spread of the 30-year CMS rate over the 10-year CMS rate, reset quarterly and subject to a minimum interest rate of 1% and a maximum interest rate of 20%; payable quarterly
|
| Price: | Par
|
| Payout at maturity: | Par plus accrued interest
|
| Call: | May 2008 onwards at par plus accrued interest
|
| Pricing date: | April 27
|
| Settlement date: | May 2
|
| Agents: | Deutsche Bank Securities, Inc., Deutsche Bank Trust Co. Americas
|
| Agent fees: | 0%
|
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