By Angela McDaniels
Tacoma, Wash., July 19 - Deutsche Bank AG, London Branch priced $18.56 million of 0% capped knock-out notes due Aug. 7, 2012 linked to the common stock of Morgan Stanley, according to a 424B2 filing with the Securities and Exchange Commission.
JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC are the agents.
A knock-out event occurs if Morgan Stanley shares fall by more than 20% during the life of the notes.
If a knock-out event has occurred, the payout at maturity will be par plus the share return, which could be positive or negative.
If a knock-out event has not occurred, the payout will be par plus the greater of the share return and 20%.
In each case, the maximum payout at maturity will be $1,300 for each $1,000 principal amount.
| Issuer: | Deutsche Bank AG, London Branch
|
| Issue: | Capped knock-out notes
|
| Underlying stock: | Morgan Stanley (Symbol: MS)
|
| Amount: | $18,563,000
|
| Maturity: | Aug. 7, 2012
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If Morgan Stanley shares close below knock-out level during life of notes, par plus stock return; otherwise, par plus greater of stock return and 20%; return capped at 30% in each case
|
| Initial share price: | $21.09
|
| Knock-out level: | $16.87, 80% of initial share price
|
| Pricing date: | July 15
|
| Settlement date: | July 20
|
| Agents: | JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC
|
| Fees: | 1%
|
| Cusip: | 2515A1A84
|
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