By Jennifer Chiou
New York, July 23 – Deutsche Bank AG, London Branch priced $1,508,000 of airbag phoenix autocallable optimization securities due Jan. 25, 2016 linked to the common stock of Hewlett-Packard Co., according to a 424B2 filing with the Securities and Exchange Commission.
Each month, the notes will pay a contingent coupon at the rate of 7.8% per year if HP shares close at or above the coupon barrier, 80% of the initial share price, on the observation date for that month.
The notes will be automatically called at par if HP shares close at or above the initial share price on any autocall observation date, which occur quarterly.
If the notes are not called and the final price of HP shares is greater than or equal to the conversion price, 85% of the initial share price, then the payout at maturity will be par. Otherwise, investors will receive a number of HP shares equal to $1,000 divided by the conversion price.
UBS Financial Services Inc. and Deutsche Bank Securities Inc. are the agents.
| Issuer: | Deutsche Bank AG, London Branch
|
| Issue: | Airbag phoenix autocallable optimization securities
|
| Underlying stock: | Hewlett-Packard Co. (NYSE: HPQ)
|
| Amount: | $1,508,000
|
| Maturity: | Jan. 25, 2016
|
| Coupon: | Each month, notes pay contingent coupon at rate of 7.8% per year if HP shares close at or above coupon barrier on observation date for that month
|
| Price: | Par
|
| Payout at maturity: | If final share price is greater than or equal to conversion price, par; otherwise, number of HP shares equal to $1,000 divided by conversion price
|
| Call: | Automatically at par if HP shares close at or above initial share price on any quarterly autocall observation date
|
| Initial share price: | $34.81
|
| Coupon barrier: | $27.85, 80% of initial share price
|
| Conversion price: | $29.59, 85% of initial share price
|
| Pricing date: | July 18
|
| Settlement date: | July 23
|
| Agents: | UBS Financial Services Inc. and Deutsche Bank Securities Inc.
|
| Fees: | 1.5%
|
| Cusip: | 25155V481
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
