By Marisa Wong
Madison, Wis., Dec. 10 - Deutsche Bank AG, London Branch priced $3.36 million of phoenix autocallable notes due Dec. 24, 2014 linked to the common stock of Newmont Mining Corp., according to a 424B2 filing with the Securities and Exchange Commission.
If Newmont Mining shares close at or above the barrier price - 70% of the initial share price - on any quarterly observation date, the issuer will pay an annualized contingent coupon of 16.3%. Otherwise, no coupon will be paid for that period.
If the stock closes 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 the shares finish at or above the barrier price, the payout at maturity will be par plus the contingent coupon. Investors will be exposed to any losses.
J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA are the placement agents.
| Issuer: | Deutsche Bank AG, London Branch
|
| Issue: | Phoenix autocallable securities
|
| Underlying stock: | Newmont Mining Corp. (Symbol: NEM)
|
| Amount: | $3,359,000
|
| Maturity: | Dec. 24, 2014
|
| Coupon: | 16.3% per year, payable quarterly if Newmont Mining shares close at or above barrier price on any quarterly observation date
|
| Price: | Par
|
| Payout at maturity: | If shares finish at or above barrier price, par plus contingent coupon; investors will be exposed to any losses
|
| Call: | At par plus contingent coupon if stock closes at or above initial price on any quarterly observation date
|
| Initial price: | $23.02
|
| Barrier price: | $16.11, 70% of initial price
|
| Pricing date: | Dec. 6
|
| Settlement date: | Dec. 11
|
| Agents: | J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA
|
| Fees: | 1%
|
| Cusip: | 25152RGJ6
|
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