By Toni Weeks
San Luis Obispo, Calif., July 24 - Deutsche Bank AG, London Branch priced $4 million of autocallable securities due Jan. 27, 2015 linked to the least performing of the common stocks of General Electric Co. and Halliburton Co. and the class B common stock of Berkshire Hathaway Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Unless called, the notes will pay a coupon at an annualized rate of 8.75% for that quarter.
If each stock closes at or above its respective initial share price on any call date, the notes will be called at par plus the coupon.
If the notes have not been called and each stock finishes at or above its trigger price, the payout at maturity will be par. Otherwise, investors will be fully exposed to the decline in the least-performing stock.
J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA are the agents.
| Issuer: | Deutsche Bank AG, London Branch
|
| Issue: | Autocallable securities
|
| Underlying stocks: | General Electric Co. (Symbol: GE), Halliburton Co. (Symbol: HAL) and Berkshire Hathaway Inc. (Symbol: BRK)
|
| Amount: | $4 million
|
| Maturity: | Jan. 27, 2015
|
| Coupon: | 8.75%, payable quarterly unless notes are called
|
| Price: | Par
|
| Payout at maturity: | Par if all stocks finish above their threshold price; otherwise, full exposure to decline of least-performing stock
|
| Call: | Automatically at par plus coupon if all stocks finish at or above the initial price on any quarterly call date
|
| Initial prices: | $24.86 for GE, $45.08 for Halliburton and $118.94 for Berkshire Hathaway
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| Threshold prices: | $16.16 for GE, $29.30 for Halliburton and $77.31 for Berkshire Hathaway, all 65% of initial value
|
| Pricing date: | July 22
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| Settlement date: | July 25
|
| Agents: | J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA
|
| Fees: | 0.75%
|
| Cusip: | 25152RDX8
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