By Angela McDaniels
Tacoma, Wash., Aug. 12 – Deutsche Bank AG, London Branch priced $10.15 million of phoenix autocallable securities due Aug. 11, 2017 linked to the lesser performing of West Texas Intermediate crude oil futures contracts and the Market Vectors Gold Miners exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes will pay a contingent coupon at the rate of 8.35% per year if each underlier closes at or above its barrier price, 80% of its initial price, on the observation date for that quarter.
Beginning a year after issuance, the notes will be automatically called at par plus the contingent coupon if each underlier closes at or above its initial price on any quarterly observation date.
If the notes are not called and the final price of the lowest performing underlier is less than its initial price by no more than 20%, the payout at maturity will be par plus the contingent coupon. Otherwise, investors will lose 1.25% for every 1% that the final price of the lowest performing underlier is less than its initial price.
Deutsche Bank Securities Inc. is the agent.
| Issuer: | Deutsche Bank AG, London Branch
|
| Issue: | Phoenix autocallable securities
|
| Underliers: | West Texas Intermediate crude oil and Market Vectors Gold Miners ETF
|
| Amount: | $10,153,000
|
| Maturity: | Aug. 11, 2017
|
| Coupon: | 8.35% per year, payable quarterly if each underlier closes at or above barrier price on observation date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par plus contingent coupon if each underlier finishes at or above barrier price; otherwise, 1.25% loss for each 1% that lowest performing underlier declines beyond 20%
|
| Call: | Automatically at par plus contingent coupon if each underlier closes at or above initial price on any quarterly observation date from Aug. 10, 2015 onward
|
| Initial prices: | $97.65 for oil and $26.78 for gold miners ETF
|
| Barrier: | $78.12 for oil and $21.42 for gold miners ETF; 80% of initial prices
|
| Pricing date: | Aug. 8
|
| Settlement date: | Aug. 13
|
| Agent: | Deutsche Bank Securities Inc.
|
| Fees: | 0.1%
|
| Cusip: | 25152RXD0
|
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