By Jennifer Chiou
New York, Oct. 23 - Deutsche Bank AG, London Branch priced $785,000 of phoenix autocallable notes due Nov. 5, 2014 linked to the common stock of Halliburton Co., according to a 424B2 filing with the Securities and Exchange Commission.
If Halliburton stock closes at or above the barrier level, 80% of the initial share price, on a quarterly observation date, the notes will pay a contingent coupon at an annualized rate of 12.2% for that quarter.
If the shares close at or above the initial price on any quarterly observation date, the notes will be called at par plus the contingent coupon.
If the notes are not called and Halliburton shares finish at or above the barrier level, the payout at maturity will be par plus the contingent coupon. Otherwise, investors will be fully exposed to the share price decline.
J.P. Morgan Securities LLC is the agent.
| Issuer: | Deutsche Bank AG, London Branch
|
| Issue: | Phoenix autocallable securities
|
| Underlying stock: | Halliburton Co. (NYSE: HAL)
|
| Amount: | $785,000
|
| Maturity: | Nov. 5, 2014
|
| Coupon: | 12.2% per year, payable quarterly if stock closes at or above barrier on observation date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par plus contingent coupon if Halliburton shares finish at or above trigger level; otherwise, 1% loss for every 1% that stock declines from initial price
|
| Call: | Automatically at par plus contingent coupon if Halliburton shares close at or above initial price on any quarterly observation date
|
| Initial share price: | $52.47
|
| Barrier/trigger price: | $41.98, 80% of initial share price
|
| Final share price: | Average of closing share prices on five trading days ending Oct. 31, 2014
|
| Pricing date: | Oct. 18
|
| Settlement date: | Oct. 23
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 1%
|
| Cusip: | 25152RFC2
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
