By Susanna Moon
Chicago, June 23 - Deutsche Bank AG, London Branch priced $5 million of 15-year non-call three-month range accrual notes due June 24, 2024 linked to Libor, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will accrue at 8% per year, payable quarterly, times the proportion of days on which Libor is 7% or less.
The notes are callable at par on any interest payment date beginning Sept. 24.
If the notes are not called, the payout at maturity will be par plus accrued interest.
Deutsche Bank Securities Inc. and Deutsche Bank Trust Co. Americas are the underwriters.
| Issuer: | Deutsche Bank AG, London Branch
|
| Issue: | 15-year non-call three-month range accrual notes
|
| Amount: | $5 million
|
| Maturity: | June 24, 2024
|
| Coupon: | 8% times proportion of days on which Libor is 7% or less; payable quarterly.
|
| Price: | Par
|
| Payout at maturity: | Par plus accrued interest
|
| Call option: | At par on any interest payment date beginning Sept. 24
|
| Pricing date: | June 19
|
| Settlement date: | June 24
|
| Underwriters: | Deutsche Bank Securities Inc. and Deutsche Bank Trust Co. Americas
|
| Fees: | 2%
|
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