By Angela McDaniels
Tacoma, Wash., Nov. 18 - Deutsche Bank AG, London Branch priced $10 million of floating-rate securities due Nov. 24, 2010 linked to the Dow Jones - UBS Commodity Index Total Return, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly at a per-year rate equal to one-month Libor minus 16 basis points.
The securities are putable at any time, subject to a minimum principal amount of $1 million, and will be called if the index declines by 15% or more.
The payout upon redemption or at maturity will be par plus triple the sum of the index return minus the TBill return minus the adjustment factor.
The TBill return will be the sum of the 91-day weekly auction high rate for U.S. Treasury bills for each day during the life of the securities. The adjustment factor will be the greater of an annualized rate of 0.35% or a flat rate of 0.1%.
The issuer said it may increase the issue size prior to the settlement date.
Deutsche Bank Securities Inc. and Deutsche Bank Trust Co. Americas are the agents.
| Issuer: | Deutsche Bank AG, London Branch
|
| Issue: | Securities
|
| Underlying index: | Dow Jones - UBS Commodity Index Total Return
|
| Amount: | $10 million
|
| Maturity: | Nov. 24, 2010
|
| Coupon: | One-month Libor minus 16 bps, payable monthly
|
| Price: | Par
|
| Payout at maturity: | Par plus triple the sum of the index return minus the TBill return minus the adjustment factor
|
| Put option: | At any time subject to minimum of $1 million securities; payout determined in same way as at maturity
|
| Call option: | Automatically if index declines by 15% or more; payout determined in same way as at maturity
|
| Initial index level: | 273.0312
|
| Pricing date: | Nov. 16
|
| Settlement date: | Nov. 23
|
| Agents: | Deutsche Bank Securities Inc. and Deutsche Bank Trust Co. Americas
|
| Fees: | None
|
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