By Marisa Wong
Madison, Wis., Sept. 16 – Deutsche Bank AG, London Branch priced $1.03 million of phoenix autocallable securities due Sept. 30, 2015 linked to the common stock of Pioneer Natural Resources Co., according to a 424B2 filing with the Securities and Exchange Commission.
If Pioneer stock closes at or above the barrier price – 80% of the initial share price – on a quarterly observation date, the issuer will pay a contingent coupon for that quarter at the rate of 13.5% per year. Otherwise, no coupon will be paid that quarter.
If the shares close at or above the initial price on a quarterly observation date, the notes will be called at par plus the contingent coupon.
If the notes are not called and Pioneer shares finish at or above the 80% trigger price, the payout at maturity will be par plus the contingent coupon. Otherwise, investors will be exposed to the share price decline from the initial price.
JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC are the placement agents.
| Issuer: | Deutsche Bank AG, London Branch
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| Issue: | Phoenix autocallable securities
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| Underlying stock: | Pioneer Natural Resources Co. (Symbol: PXD)
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| Amount: | $1,025,000
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| Maturity: | Sept. 30, 2015
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| Coupon: | 13.5%, payable quarterly if stock closes at or above barrier price on observation date for that quarter
|
| Price: | Par
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| Payout at maturity: | Par plus contingent coupon if Pioneer shares finish at or above barrier price; otherwise, par plus stock return
|
| Call: | Automatically at par plus contingent coupon if Pioneer shares close at or above initial price on a quarterly observation date
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| Initial share price: | $202.25
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| Barrier/trigger price: | $161.80, 80% of initial price
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| Pricing date: | Sept. 12
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| Settlement date: | Sept. 17
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| Placement agents: | JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC
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| Fees: | 1%
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| Cusip: | 25152RQC0
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