By Angela McDaniels
Tacoma, Wash., May 11 - Deutsche Bank AG, London Branch priced $10.05 million of 0% performance securities due May 14, 2012 linked to the Brazilian real relative to the euro, according to a 424B2 filing with the Securities and Exchange Commission.
If the real strengthens relative to the euro, the payout at maturity will be par of $10 plus 1,100% of the gain. The payout will be capped at $120 per $10 principal amount of notes.
If the real weakens relative to the euro, investors will be exposed to the loss.
UBS Financial Services Inc. and Deutsche Bank Securities Inc. are the agents.
| Issuer: | Deutsche Bank AG, London Branch
|
| Issue: | Performance securities
|
| Underlying currency: | Brazilian real relative to euro
|
| Amount: | $10.05 million
|
| Maturity: | May 14, 2012
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | Par plus 1,100% of any appreciation of real relative to euro, up to maximum payout of $120 per note; exposure to any depreciation of real relative to euro
|
| Initial exchange rate: | 2.3205; equal to the dollar/real spot rate of 1.8343 multiplied by the euro/dollar spot rate of 1.26505
|
| Pricing date: | May 7
|
| Settlement date: | May 12
|
| Agents: | UBS Financial Services Inc. and Deutsche Bank Securities Inc.
|
| Fees: | 2%
|
| Cusip: | 25154N555
|
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