By Susanna Moon
Chicago, Aug. 12 – Deutsche Bank AG, London Branch priced $2.86 million of airbag phoenix autocallable optimization securities due Feb. 12, 2016 linked to Tesoro Corp. shares, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annual rate of 10.5% if the stock closes at or above the 75% coupon barrier level on an observation date for the month.
The notes will be called at par plus accrued interest if Tesoro stock closes at or above the initial share price on any quarterly observation date.
The payout at maturity will be par unless the final share price is less than the conversion price, in which case the payout will be a number of Tesoro shares equal to $1,000 divided by the conversion price. The conversion price is 85% of the initial share price.
Deutsche Bank Securities is the agent, and UBS Financial Services Inc. is the dealer.
| Issuer: | Deutsche Bank AG, London Branch
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| Issue: | Airbag phoenix autocallable optimization securities
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| Underlying stock: | Tesoro Corp. (NYSE: TSO)
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| Amount: | $2,861,000
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| Maturity: | Feb. 12, 2016
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| Coupon: | 10.5% annualized for each month that stock closes at or above coupon barrier level on review date for that month
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| Price: | Par
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| Payout at maturity: | If final price is less than conversion price, Tesoro shares equal to $1,000 divided by the conversion price; otherwise, par
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| Call: | At par if Tesoro shares close at or above initial share price on any quarterly observation date
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| Initial price: | $63.31
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| Coupon barrier level: | $47.48, 75% of initial level
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| Conversion price: | $53.81, 85% of initial price
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| Pricing date: | Aug. 8
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| Settlement date: | Aug. 13
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| Underwriters: | UBS Financial Services Inc. and Deutsche Bank Securities
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| Fees: | 1.5%
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| Cusip: | 25155V291
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