By E. Janene Geiss
Philadelphia, March 30 - Deutsche Bank AG, London Branch priced a $13.1 million issue of buffered barrier rebate notes due June 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 100% of the index return.
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
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Issue: | Buffered barrier rebate notes
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Underlying index: | S&P 500
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Amount: | $13,069,000
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Maturity: | June 30, 2010
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If no barrier event occurs and index increases, par plus 100% of any index return; 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%
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Initial index level: | 832.86
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Upper barrier: | 1,249.29, 150% of initial index level
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Rebate: | 12%
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Participation rate: | 100%
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Pricing date: | March 26
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Settlement date: | March 31
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Agents: | Deutsche Bank Securities Inc. and Deutsche Bank Trust Co. Americas
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Fees: | 0.75%
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