By Marisa Wong
Madison, Wis., May 30 - Deutsche Bank AG, London Branch priced $14.88 million of trigger phoenix autocallable optimization securities due May 31, 2013 linked to General Electric Co. shares, according to a 424B2 filing with the Securities and Exchange Commission.
If General Electric stock closes at or above the 75% trigger level on a quarterly observation date, the issuer will pay a contingent coupon at an annualized rate of 11.72% for that quarter.
If the shares close at or above the initial price on a quarterly observation date, the notes will be called at par of $10 plus the contingent coupon.
If the notes are not called and General Electric shares finish at or above the trigger price, the payout at maturity will be par plus the contingent coupon.
Otherwise, investors will be fully exposed to losses.
UBS Financial Services Inc. and Deutsche Bank Securities Inc. are the underwriters.
| Issuer: | Deutsche Bank AG, London Branch
|
| Issue: | Trigger phoenix autocallable optimization securities
|
| Underlying stock: | General Electric Co. (Symbol: GE)
|
| Amount: | $14,877,780
|
| Maturity: | May 31, 2013
|
| Coupon: | 11.72% per year, payable quarterly if stock closes at or above trigger price on observation date for that quarter
|
| Price: | Par of $10.00
|
| Payout at maturity: | Par plus contingent coupon if General Electric shares finish at or above trigger price; otherwise, par plus stock return
|
| Call: | Automatically at par plus contingent coupon if General Electric shares close at or above initial price on a quarterly observation date
|
| Initial share price: | $19.35
|
| Trigger price: | $14.51, 75% of initial share price
|
| Pricing date: | May 29
|
| Settlement date: | May 31
|
| Underwriters: | UBS Financial Services Inc. and Deutsche Bank Securities Inc.
|
| Fees: | 1.5%
|
| Cusip: | 25154X793
|
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