Published on 4/29/2009 in the Prospect News Structured Products Daily.
New Issue: Deutsche Bank prices $3.16 million variable-rate notes linked to 15 common stocks
By Angela McDaniels
Tacoma, Wash., April 29 - Deutsche Bank AG, London Branch priced $3.16 million of equity basket notes due April 30, 2014 linked to a basket of 15 common stocks, according to a 424B2 filing with the Securities and Exchange Commission.
The basket includes equal weights of Apple Inc., AT&T Inc., Chevron Corp., Cisco Systems, Inc., Coca-Cola Co., Exxon Mobil Corp., General Electric Co., Google Inc., International Business Machines Corp., Johnson & Johnson, JPMorgan Chase & Co., Microsoft Corp., Procter & Gamble Co., Verizon Communications Inc. and Wal-Mart Stores, Inc.
Interest is payable annually. For the first payment date, April 30, 2010, the coupon will equal 1.5%. On the first variable coupon payment date, May 2, 2011, the coupon will be the greater of zero and the contribution average. On the subsequent variable coupon payment dates, the coupon will be the greater of the contribution average and the coupon paid on the previous payment date.
The contribution average will equal the sum of the weighted annual contributions of the basket stocks.
For each basket stock, the annual contribution will equal the return on that stock, subject to these conditions:
• If the basket stock return is greater than 9.5% or the basket stock return was greater than or equal to 9.5% on any previous variable coupon observation date, the annual contribution will be equal to 9.5%; and
• If the basket stock return is less than negative 25% and the basket stock return was not greater than or equal to 9.5% on any previous variable coupon observation date, the annual contribution will be negative 25%.
The payout at maturity will be par.
Deutsche Bank Securities Inc. and Deutsche Bank Trust Co. Americas are the agents.
| Issuer: | Deutsche Bank AG, London Branch
|
| Issue: | Equity basket notes
|
| Underlying stocks: | Apple Inc., AT&T Inc., Chevron Corp., Cisco Systems, Inc., Coca-Cola Co., Exxon Mobil Corp., General Electric Co., Google Inc., International Business Machines Corp., Johnson & Johnson, JPMorgan Chase & Co., Microsoft Corp., Procter & Gamble Co., Verizon Communications Inc. and Wal-Mart Stores, Inc.
|
| Amount: | $3.16 million
|
| Maturity: | April 30, 2014
|
| Coupon: | 1.5% on April 30, 2010; on May 2, 2011, the greater of zero and the contribution average; on subsequent annual coupon payment dates, the greater of the contribution average and the coupon paid on the previous payment date; for each basket stock, the annual contribution will equal the return on that stock, subject to the conditions noted above
|
| Price: | Par
|
| Payout at maturity: | Par
|
| Initial share prices: | $124.74 for Apple, $25.31 for AT&T, $65.41 for Chevron, $18.37 for Cisco, $42.24 for Coca-Cola, $66.13 for Exxon Mobil, $12.09 for GE, $385.95 for Google, $99.95 for IBM, $50.86 for Johnson & Johnson, $32.78 for JPMorgan, $20.40 for Microsoft, $49.97 for Procter & Gamble, $30.54 for Verizon and $48.51 for Wal-Mart
|
| Pricing date: | April 27
|
| Settlement date: | April 30
|
| Agents: | Deutsche Bank Securities Inc. and Deutsche Bank Trust Co. Americas
|
| Fees: | 0.75%
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
