By Jennifer Chiou
New York, May 16 - Deutsche Bank AG, London Branch priced a $9.68 million issue of Constant Maturity Swap (CMS) spread range notes due May 17, 2022, according to a 424B2 filing with the Securities and Exchange Commission.
Interest on the notes will accrue at 9.37% per year times the proportion of days on which the 30-year CMS rate is higher than the two-year CMS rate by 10 basis points or greater. Interest is payable quarterly.
The notes are callable at par plus accrued interest on any interest payment date.
Deutsche Bank Securities Inc. and Deutsche Bank Trust Co. Americas are the agents.
| Issuer: | Deutsche Bank AG, London Branch
|
| Issue: | CMS spread range notes
|
| Amount: | $9.68 million
|
| Maturity: | May 17, 2022
|
| Coupon: | 9.37% multiplied by the proportion of days on which the spread of the 30-year CMS rate over the two-year CMS rate is equal to or greater than 10 bps; payable quarterly
|
| Price: | Par
|
| Call: | At par plus accrued interest on any interest payment date
|
| Payout at maturity: | Par plus accrued interest
|
| Pricing date: | May 14
|
| Settlement date: | May 17
|
| Agents: | Deutsche Bank Securities Inc., Deutsche Bank Trust Co. Americas
|
| Fees: | None
|
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