By Marisa Wong
Madison, Wis., June 27 – Deutsche Bank AG, London Branch priced $11.5 million of CMS slope steepener notes due June 30, 2034, according to a 424B2 filing with the Securities and Exchange Commission.
The notes were sold at variable prices.
The interest rate is 10% for the first year. After that, the rate will be (a) four times (b) the spread of the 30-year Constant Maturity Swap rate over the two-year CMS rate minus 40 basis points, subject to a minimum of 0% and a maximum interest rate of 10% per year. Interest is payable quarterly.
The payout at maturity will be par.
The notes are callable at par on June 30, 2016, June 30, 2019, June 30, 2024 and June 30, 2029.
Deutsche Bank Securities Inc. is the agent.
| Issuer: | Deutsche Bank AG, London Branch
|
| Issue: | CMS slope steepener notes
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| Amount: | $11.5 million
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| Maturity: | June 30, 2034
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| Coupon: | 10% for first year; after that, (a) four times (b) spread of 30-year CMS rate over two-year CMS rate minus 40 bps, subject to minimum of 0% and maximum of 10% per year; payable quarterly
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| Price: | Variable prices
|
| Payout at maturity: | Par
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| Call option: | At par on June 30, 2016, June 30, 2019, June 30, 2024 and June 30, 2029
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| Pricing date: | June 25
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| Settlement date: | June 30
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| Agent: | Deutsche Bank Securities Inc.
|
| Fees: | 5%
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| Cusip: | 25152RXB4
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