By Toni Weeks
San Diego, Oct. 29 - Deutsche Bank AG, London Branch priced $3 million of 10% airbag autocallable yield optimization notes due Oct. 31, 2013 linked to the common stock of Bank of America Corp., according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be payable monthly.
The notes will be automatically called at par plus the coupon if Bank of America stock closes at or above the initial share price on a quarterly observation date.
If the notes are not called, the payout at maturity will be par unless the final share price is less than the conversion price, in which case the payout will be a number of Bank of America shares equal to $1,000 divided by the conversion price. The conversion price is 80% of the initial share price.
UBS Financial Services Inc. and Deutsche Bank Securities Inc. are the underwriters.
| Issuer: | Deutsche Bank AG, London Branch
|
| Issue: | Airbag autocallable yield optimization notes
|
| Underlying stock: | Bank of America Corp. (Symbol: BAC)
|
| Amount: | $3 million
|
| Maturity: | Oct. 31, 2013
|
| Coupon: | 10%, payable monthly
|
| Price: | Par
|
| Payout at maturity: | If final share price is less than conversion price, number of Bank of America shares equal to $1,000 divided by conversion price; otherwise, par
|
| Initial share price: | $9.12
|
| Conversion price: | $7.30, 80% of initial price
|
| Call: | At par plus coupon if Bank of America stock closes at or above initial share price on quarterly observation date
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| Pricing date: | Oct. 26
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| Settlement date: | Oct. 31
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| Underwriters: | UBS Financial Services Inc. and Deutsche Bank Securities
|
| Fees: | 0.7%
|
| Cusip: | 25154S885
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