By Angela McDaniels
Tacoma, Wash., July 16 - Deutsche Bank AG, London Branch priced $4.81 million of CMS slope steepener notes due July 17, 2024, according to a 424B2 filing with the Securities and Exchange Commission.
The notes carry a fixed interest rate of 11% year for the first year. After that, interest equals five times the spread of the 30-year Constant Maturity Swap rate over the two-year CMS rate, subject to a floor of zero and a maximum rate of 11% per year. Interest is payable semiannually.
The payout at maturity will be par.
Beginning July 17, 2010, the notes are callable at par on any interest payment date.
Deutsche Bank Securities, Inc. and Deutsche Bank Trust Co. Americas are the agents.
| Issuer: | Deutsche Bank AG, London Branch
|
| Issue: | CMS slope steepener notes
|
| Amount: | $4.81 million
|
| Maturity: | July 17, 2024
|
| Coupon: | Five times the spread of the 30-year CMS rate over the two-year CMS rate, with a floor of 0% and a cap of 11% per year; payable semiannually
|
| Price: | Par
|
| Payout at maturity: | Par
|
| Call option: | At par on any interest payment date from July 17, 2010 onward
|
| Pricing date: | July 14
|
| Settlement date: | July 17
|
| Agents: | Deutsche Bank Securities, Inc. and Deutsche Bank Trust Co. Americas
|
| Fees: | 5%
|
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