Published on 9/28/2009 in the Prospect News Structured Products Daily.
New Issue: Deutsche Bank prices $3.78 million buffered absolute return barrier notes tied to S&P 500
By Angela McDaniels
Tacoma, Wash., Sept. 28 - Deutsche Bank AG, London Branch priced $3.78 million of 0% buffered absolute return barrier securities due Oct. 29, 2010 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index never closes above the upper barrier or below the lower barrier during the life of the securities, the payout at maturity will be par plus the absolute value of the index return.
The upper barrier is 122.7% of the initial index level, and the lower barrier is 85% of the initial level.
If the index ever closes above the upper barrier or below the lower barrier, the payout will be par if the final index level is at least 85% of the initial level. Otherwise, investors will lose 1% for every 1% that the index declines beyond 15%.
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: | $3,778,000
|
| Maturity: | Oct. 29, 2010
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If index never closes above upper barrier or below lower barrier during life of securities, par plus absolute value of index return; if index ever closes above upper barrier or below lower barrier, par if final index level is at least 85% of initial level; otherwise, par minus 1% for every 1% that index declines beyond 15%
|
| Initial index level: | 1,050.78
|
| Upper index barrier: | 1,289.31, 122.7% of initial level
|
| Lower index barrier: | 893.16, 85% of initial level
|
| Pricing date: | Sept. 24
|
| Settlement date: | Sept. 29
|
| Agents: | Deutsche Bank Securities Inc. and Deutsche Bank Trust Co. Americas
|
| Fees: | 0.75%
|
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