By Angela McDaniels
Tacoma, Wash., April 1 - Deutsche Bank AG, London Branch priced $8.24 million of 0% buffered absolute return barrier securities due May 3, 2010 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
A barrier event will occur if the index closes above the upper barrier or below the lower barrier on any day during the life of the notes. The upper and lower barriers are 36% above and 25% below the initial level, respectively.
If a barrier event has not occurred, the payout at maturity will be par plus the absolute value of the index return.
If a barrier event has occurred and the final index level is at least 75% of the initial index level, the payout will be par. Otherwise, investors will lose 1% for every 1% that the index declines beyond 25%.
Deutsche Bank Securities Inc. and Deutsche Bank Trust Co. Americas are the agents.
| Issuer: | Deutsche Bank AG, London Branch
|
| Issue: | Buffered absolute return barrier securities
|
| Underlying index: | S&P 500
|
| Amount: | $8,235,000
|
| Maturity: | May 3, 2010
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If index never closes above upper barrier or below lower barrier, par plus absolute value of index return; otherwise par for up to 25% index drop and 1% loss for every 1% index decline beyond 25%
|
| Initial index level: | 787.53
|
| Upper index barrier: | 1,071.04, 136% of initial level
|
| Lower index barrier: | 590.65, 75% of initial level
|
| Pricing date: | March 30
|
| Settlement date: | April 2
|
| Agents: | Deutsche Bank Securities Inc. and Deutsche Bank Trust Co. Americas
|
| Fees: | 0.75%
|
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