By Angela McDaniels
Tacoma, Wash., Sept. 30 - Deutsche Bank AG, London Branch said it had $5.5 million of 0% Elements due Oct. 24, 2022 linked to the Morningstar Wide Moat Focus Total Return index outstanding as of Sept. 29.
In October 2007, the company sold $6 million of the notes via Nuveen Investments LLC and Merrill Lynch, Pierce, Fenner & Smith Inc. and registered to sell up to $250 million in total. It will sell additional notes through Deutsche Bank Securities Inc. from time to time, according to a 424B3 filing with the Securities and Exchange Commission.
The index is derived from 20 eligible companies that Morningstar determines have "wide moats," or a maintainable return on invested capital exceeding cost of capital and a sustainable competitive advantage.
The notes are putable at any time, subject to a minimum of $2.5 million principal amount.
The payout at maturity or upon redemption will be par of $10 plus the index return, less an investor fee of 0.75% per year.
The securities are listed on the NYSE Arca under the symbol "WMW."
| Issuer: | Deutsche Bank AG, London Branch
|
| Issue: | Elements
|
| Underlying index: | Morningstar Wide Moat Focus Total Return
|
| Amount: | $5.5 million, decreased from $6 million
|
| Maturity: | Oct. 24, 2022
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | Par plus the index return, less an annual investor fee of 0.75%
|
| Put option: | At any time subject to minimum of $2.5 million; payout determined in same way as at maturity
|
| Initial index level: | 2,646.02
|
| Inception date: | Oct. 17, 2007
|
| Settlement date: | Oct. 23, 2007 (for $6 million)
|
| Underwriters: | Nuveen Investments LLC, Merrill Lynch, Pierce, Fenner & Smith Inc. and Deutsche Bank Securities Inc.
|
| Listing: | NYSE Arca: WMW
|
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