By Toni Weeks
San Luis Obispo, Calif., July 22 – Deutsche Bank AG, London Branch priced $866,688 of call warrants expiring July 21, 2017 linked the S&P 500 index via J.P. Morgan Securities LLC, according to a 424B2 filing with the Securities and Exchange Commission.
The notional amount is $1,000 per warrant. The issue price is $111 per warrant, equal to 11.1% of the notional amount.
On the expiration date, the warrants will be exercised automatically, and investors will receive the cash settlement value.
If the final index level is greater than the initial index level, the cash settlement value will be $1,000 multiplied by the index return. If the final index level is less than or equal to the initial index level, the cash settlement value will be zero, and the warrants will expire worthless.
The issuer noted that in order for investors to receive a positive return, the final index level must be greater than the initial level by more than 11.1%.
| Issuer: | Deutsche Bank AG, London Branch
|
| Issue: | Call warrants
|
| Underlying index: | S&P 500
|
| Amount: | $866,688
|
| Expiration date: | July 21, 2017
|
| Notional amount: | $1,000
|
| Issue price: | $111
|
| Payout at expiration: | If final index level is greater than initial index level, $1,000 multiplied by index return; if final index level is less than or equal to initial index level, zero
|
| Initial index level: | 1,978.22
|
| Pricing date: | July 18
|
| Settlement date: | July 23
|
| Underwriter: | J.P. Morgan Securities LLC
|
| Fees: | $6.50 per warrant
|
| Cusip: | 25155V457
|
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