By Jennifer Chiou
New York, Feb. 22 - Deutsche Bank AG, London Branch priced $100 million of 0% Elements due Feb. 23, 2023 linked to the dollar/Swiss franc exchange rate via agents Nuveen Investments and Merrill Lynch & Co., according to a 424B2 filing with the Securities and Exchange Commission.
At maturity, investors will receive par plus any return on the exchange rate, less 0.25% per year and an annual investor fee of 0.4% times the proportion of days elapsed.
Beginning Feb. 22, 2008, holders may put back the notes for repurchase, with a minimum of $2.5 million of principal.
The notes also will make semi-annual distribution payments linked to the Deutsche Bank CHF Overnight Index, which reflects the performance of an investment in the Swiss franc at the deposit rate, less an adjustment fee of 0.25%.
If the Tomnext overnight indexed swap rate decreases to or below 0.65% on any business day during the life of the securities, the issuer may call the securities at par plus accrued interest.
The securities have been approved for listing on the New York Stock Exchange under the symbol "SZE."
| Issuer: | Deutsche Bank AG, London Branch
|
| Issue: | Elements
|
| Underlying asset: | Dollar/Swiss franc exchange rate
|
| Amount: | $100 million
|
| Maturity: | Feb. 23, 2023
|
| Distribution: | Semi-annual payments linked to the Deutsche Bank Swiss franc Overnight Index, less an adjustment fee of 0.25%
|
| Price: | Par
|
| Payout at maturity: | Par plus the exchange rate return, less 0.25% per year and an annual investor fee of 0.4% times the proportion of days elapsed
|
| Put: | Beginning Feb. 22, 2008; minimum of $2.5 million
|
| Call: | At par plus accrued interest if the Tomnext overnight indexed swap rate decreases to or below 0.65%
|
| Initial rate: | 1.0996
|
| Pricing date: | Feb. 20
|
| Settlement date: | Feb. 22
|
| Agents: | Nuveen Investments and Merrill Lynch & Co.
|
| Fees: | None
|
| Symbol: | NYSE Arca: SZE
|
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