By E. Janene Geiss
Philadelphia, March 30 - Deutsche Bank AG, London Branch priced $3 million of buffered barrier rebate notes due July 30, 2010 linked to the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.
A barrier event will occur if the index ever closes above the upper barrier, 150% of the initial level.
If a barrier event has not occurred and the final index level is greater than the initial level, investors will receive par plus any index gain.
If a barrier event has not occurred, investors will receive par if the final index level declines by up to 15% and will be exposed to any losses if the index declines beyond 15%.
If a barrier event has occurred, investors will receive par plus a rebate amount of 12%, or $120.00 per $1,000 principal amount.
If a barrier event has occurred and the final index level is beyond 85% of the initial level, investors will receive par multiplied by the decline beyond 15% plus the 12% rebate.
Deutsche Bank Securities Inc. and Deutsche Bank Trust Co. Americas are the underwriters.
| Issuer: | Deutsche Bank AG, London Branch
|
| Issue: | Buffered barrier rebate notes
|
| Underlying index: | S&P 500
|
| Amount: | $3,001,000
|
| Maturity: | July 30, 2010
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If no barrier event occurs and index increases, par plus index gain; if no barrier event occurs, par if the index declines by up to 15% and exposure to any losses beyond a 15% index decline; if barrier event occurs, par plus rebate of 12%; if barrier event occurs and final index level declines beyond 15%, par multiplied by the decline beyond 15% plus 12%
|
| Initial index level: | 832.86
|
| Upper barrier: | 1,249.29, 150% of initial index level
|
| Rebate: | 12%
|
| Participation rate: | 150%
|
| Pricing date: | March 26
|
| Settlement date: | March 31
|
| Agents: | Deutsche Bank Securities Inc. and Deutsche Bank Trust Co. Americas
|
| Fees: | 2%
|
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