By Marisa Wong
Madison, Wis., March 5 - Deutsche Bank AG, London Branch priced $2.18 million of phoenix autocallable securities due March 18, 2015 linked to Whirlpool Corp. shares, according to a 424B2 filing with the Securities and Exchange Commission.
If Whirlpool stock closes at or above the 80% barrier level on a quarterly observation date, the notes will pay a contingent coupon at an annualized rate of 14% 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 Whirlpool shares finish at or above the 80% trigger price, the payout at maturity will be par plus the contingent coupon.
Otherwise, investors will be fully exposed to losses.
J.P Morgan Securities LLC and JPMorgan Chase Bank, NA are the placement agents.
| Issuer: | Deutsche Bank AG, London Branch
|
| Issue: | Phoenix autocallable securities
|
| Underlying stock: | Whirlpool Corp. (Symbol: WHR)
|
| Amount: | $2,183,000
|
| Maturity: | March 18, 2015
|
| Coupon: | 14% per year, payable quarterly if Whirlpool stock closes at or above barrier price on a quarterly observation date
|
| Price: | Par of $1,000
|
| Payout at maturity: | If Whirlpool shares finish at or above trigger price, par plus contingent coupon; otherwise, full exposure to losses
|
| Call: | At par plus contingent coupon if shares close at or above initial price on any quarterly observation date
|
| Initial price: | $144.63
|
| Barrier/trigger price: | $115.70, 80% of initial price
|
| Pricing date: | Feb. 28
|
| Settlement date: | March 5
|
| Agents: | J.P Morgan Securities LLC and JPMorgan Chase Bank, NA
|
| Fees: | 1%
|
| Cusip: | 25152RJD6
|
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