By Toni Weeks
San Luis Obispo, Calif., Dec. 12 - Deutsche Bank AG, London Branch priced $1.25 million of phoenix autocallable securities due June 15, 2016 linked to the iShares MSCI Emerging Markets exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
If the fund's shares close at or above the barrier price - 85% of the initial share price - on any semiannual observation date, the issuer will pay a contingent coupon of 8.7%. Otherwise, no coupon will be paid for that period.
If the shares close at or above the initial price on any semiannual observation date, the notes will be called at par plus the 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 coupon. Otherwise, investors will lose 1.17647% for every 1% decline beyond the 15% buffer.
Deutsche Bank Securities Inc. is the agent.
| Issuer: | Deutsche Bank AG, London Branch
|
| Issue: | Autocallable securities
|
| Underlying fund: | iShares MSCI Emerging Markets ETF
|
| Amount: | $1.25 million
|
| Maturity: | June 15, 2016
|
| Coupon: | 8.7%, payable semiannually if shares close at or above barrier price on observation date for that period
|
| Price: | Par
|
| Payout at maturity: | If shares finish at or above barrier price, par plus coupon; otherwise, 1.17647% loss for every 1% decline beyond 15% buffer
|
| Initial price: | $42.04
|
| Barrier level: | 85% of initial level
|
| Call: | At par plus coupon if shares close at or above initial price on any semiannual observation date
|
| Pricing date: | Dec. 10
|
| Settlement date: | Dec. 13
|
| Agent: | Deutsche Bank Securities Inc.
|
| Fees: | 0.25%
|
| Cusip: | 25152RGP2
|
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