By Toni Weeks
San Diego, Dec. 19 - Deutsche Bank AG, London Branch priced $6.6 million of 0.125% callable exchangeable notes due Dec. 20, 2019 linked to the common stock of EMC Corp., according to an FWP filing with the Securities and Exchange Commission.
Interest is payable semiannually.
The notes are callable at par on or after Dec. 17, 2015.
In addition, the notes may be exchanged beginning Dec. 17, 2015 for a number of shares equal to the exchange rate.
If the notes are not called or exchanged and the final price is greater than the conversion price, the payout at maturity will be the exchange rate multiplied by the final price.
If the final price is less than or equal to the conversion price, the payout at maturity will be par.
Because the original issue price is 110% of par, a payout at maturity of par will result in a 9.09% loss on the initial investment.
Deutsche Bank Securities Inc. is the agent.
| Issuer: | Deutsche Bank AG, London Branch
|
| Issue: | Callable exchangeable notes
|
| Underlying stock: | EMC Corp. (Symbol: EMC)
|
| Amount: | $6.6 million
|
| Maturity: | Dec. 20, 2019
|
| Coupon: | 0.125%, payable semiannually
|
| Price: | 110% of par
|
| Payout at maturity: | If final price is greater than conversion price, exchange rate multiplied by final price.; if final price is less than or equal to conversion price, par
|
| Call option: | At par beginning Dec. 17, 2015
|
| Exchange option: | For a number of shares equal to exchange rate beginning Dec. 17, 2015
|
| Initial share price: | $25.6507
|
| Conversion price: | $29.4983, 115% of initial price
|
| Exchange rate: | 33.9003, which is $1,000 divided by the conversion price
|
| Pricing date: | Dec. 18
|
| Settlement date: | Dec. 28
|
| Underwriter: | Deutsche Bank Securities Inc.
|
| Fees: | None
|
| Cusip: | 25152RAW3
|
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