By Marisa Wong
Madison, Wis., Aug. 29 - Deutsche Bank AG, London Branch priced $7.53 million of trigger phoenix autocallable optimization securities due Aug. 31, 2018 linked to the common stock of United Rentals, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
If United Rentals stock closes at or above the trigger price - 50% of the initial share price - on a monthly observation date, the issuer will pay a contingent coupon for that month at the rate of 9% per year. Otherwise, no coupon will be paid that month.
The notes will be called at par of $10 plus the contingent coupon if United Rentals shares close at or above the initial price on a monthly observation date.
If the notes are not called and United Rentals shares finish at or above the trigger price, the payout at maturity will be par plus the contingent coupon. Otherwise, investors will be exposed to the share price decline from the initial price.
UBS Financial Services Inc. and Deutsche Bank Securities Inc. are the underwriters.
| Issuer: | Deutsche Bank AG, London Branch
|
| Issue: | Trigger phoenix autocallable optimization securities
|
| Underlying stock: | United Rentals, Inc. (Symbol: URI)
|
| Amount: | $7,529,310
|
| Maturity: | Aug. 31, 2018
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| Coupon: | 9%, payable monthly if stock closes at or above trigger price on observation date for that month
|
| Price: | Par of $10
|
| Payout at maturity: | Par plus contingent coupon if United Rentals shares finish at or above trigger price; otherwise, par plus stock return
|
| Call: | Automatically at par plus contingent coupon if United Rentals shares close at or above initial price on any monthly observation date
|
| Initial share price: | $55.09
|
| Trigger price: | $27.55, 50% of initial price
|
| Pricing date: | Aug. 28
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| Settlement date: | Aug. 30
|
| Underwriters: | UBS Financial Services Inc. and Deutsche Bank Securities Inc.
|
| Fees: | 2.5%
|
| Cusip: | 25155L582
|
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