Published on 5/7/2013 in the Prospect News Structured Products Daily.
New Issue: Deutsche Bank prices $11.48 million autocallables linked to Brazilian real versus yen
By Angela McDaniels
Tacoma, Wash., May 7 - Deutsche Bank AG, London Branch priced $11.48 million of 0% autocallable securities due May 15, 2014 linked to the performance of the Brazilian real relative to the Japanese yen, according to a 424B2 filing with the Securities and Exchange Commission.
The currency performance will be positive if the real strengthens relative to the yen.
The notes will be called at par plus an annualized call premium of 16.2% if the currency performance is greater than or equal to zero on Aug. 5, 2013, Nov. 4, 2013, Feb. 3, 2014 or May 12, 2014.
If the notes are not called and the final currency performance is greater than or equal to negative 20%, the payout at maturity will be par. Investors will be fully exposed to losses from the initial level if the final currency performance is less than negative 20%.
JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC are the agents.
| Issuer: | Deutsche Bank AG, London Branch
|
| Issue: | Autocallable securities
|
| Underlying currency: | Brazilian real, measured relative to Japanese yen
|
| Amount: | $11.48 million
|
| Maturity: | May 15, 2014
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par if final currency performance is greater than or equal to negative 20%; full exposure to losses from initial level if final currency performance is less than negative 20%
|
| Call: | Automatically at par plus annualized call premium of 16.2% if currency performance is greater than or equal to zero on Aug. 5, 2013, Nov. 4, 2013, Feb. 3, 2014 or May 12, 2014
|
| Initial spot rate: | 49.1603 yen per real
|
| Pricing date: | May 3
|
| Settlement date: | May 8
|
| Agents: | JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC
|
| Fees: | 1%
|
| Cusip: | 25152RCQ4
|
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