By Angela McDaniels
Tacoma, Wash., Dec. 15 - Deutsche Bank AG, London Branch priced $23 million of 0% capped knock-out securities due Dec. 26, 2012 linked to the iShares MSCI Emerging Markets index fund, according to a 424B2 filing with the Securities and Exchange Commission.
A knock-out event occurs if the exchange-traded fund's shares close at or below $26.29, which is 70% of the initial share price, on any day during the life of the notes.
If a knock-out event has occurred, the payout at maturity will be par plus the lesser of the fund return and 20.05%. The fund return could be positive or negative.
If a knock-out event has not occurred, the payout will be par plus 20.05%.
Deutsche Bank Securities Inc. is the underwriter.
| Issuer: | Deutsche Bank AG, London Branch
|
| Issue: | Capped knock-out securities
|
| Underlying ETF: | iShares MSCI Emerging Markets index fund
|
| Amount: | $23 million
|
| Maturity: | Dec. 26, 2012
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If ETF's shares close at or below knock-out level on any day during life of notes, par plus lesser of ETF return and 20.05%; otherwise, par plus 20.05%
|
| Initial share price: | $37.55
|
| Knock-out level: | $26.29, 70% of initial share price
|
| Pricing date: | Dec. 13
|
| Settlement date: | Dec. 16
|
| Underwriter: | Deutsche Bank Securities Inc.
|
| Fees: | None
|
| Cusip: | 2515A1FH9
|
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