By Toni Weeks
San Diego, Aug. 21 - Deutsche Bank AG, London Branch priced $20.59 million of 0% buffered return enhanced notes due Sept. 5, 2013 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus double any index gain, up to a maximum return of 11.8%.
Investors will receive par if the index falls by up to 10% and will lose 1.1111% for every 1% drop in the index beyond the 10% buffer.
The ending index level will be the average of the index closing levels on the five trading days ending Aug. 30, 2013.
JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC are the agents.
| Issuer: | Deutsche Bank AG, London Branch
|
| Issue: | Buffered return enhanced notes
|
| Underlying index: | S&P 500
|
| Amount: | $20,591,000
|
| Maturity: | Sept. 5, 2013
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus 200% of any gain in the index, up to a maximum return of 11.8%; par if index drops by up to 10%; 1.1111% loss for every 1% drop in index beyond 10%
|
| Initial level: | 1,418.16
|
| Pricing date: | Aug. 17
|
| Settlement date: | Aug. 22
|
| Agents: | JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC
|
| Fees: | 1%
|
| Cusip: | 2515A1LE9
|
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