By Toni Weeks
San Luis Obispo, Calif., Feb. 5 - Deutsche Bank AG, London Branch priced $830,000 of phoenix autocallable securities due Feb. 19, 2015 linked to Valeant Pharmaceuticals International, Inc. shares, according to a 424B2 filing with the Securities and Exchange Commission.
If Valeant Pharmaceuticals stock closes at or above the 75% barrier level on a quarterly observation date, the notes will pay a contingent coupon at an annualized rate of 24.1% for that quarter.
If the shares close 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 Valeant Pharmaceuticals shares finish at or above the 75% trigger price, the payout at maturity will be par plus the contingent coupon.
Otherwise, investors will be fully exposed to losses.
The final price will be the average of the closing share prices on five trading days ending Feb. 13, 2015.
J.P Morgan Securities LLC and JPMorgan Chase Bank, NA are the agents.
| Issuer: | Deutsche Bank AG, London Branch
|
| Issue: | Phoenix autocallable securities
|
| Underlying stock: | Valeant Pharmaceuticals International, Inc. (Symbol: VRX)
|
| Amount: | $830,000
|
| Maturity: | Feb. 19, 2015
|
| Coupon: | 24.1%, payable quarterly 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, full exposure to share price decline
|
| Initial price: | $135.64
|
| Barrier price: | $101.73, 75% of initial price
|
| Call: | At par plus coupon if shares close at or above initial price on any quarterly observation date
|
| Pricing date: | Jan. 31
|
| Settlement date: | Feb. 5
|
| Agents: | J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA
|
| Fees: | 1%
|
| Cusip: | 25152RHL0
|
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