By Angela McDaniels
Tacoma, Wash., Sept. 25 – Deutsche Bank AG, London Branch priced $2.2 million of 0% capped knock-out securities due Jan. 4, 2016 linked to the performance of WTI crude oil futures contracts, according to a 424B2 filing with the Securities and Exchange Commission.
A knock-out event occurs if the price of oil closes below the knock-out price, 80% of the initial price, on any day during the life of the notes.
If a knock-out event does not occur, the payout at maturity will be par plus the greater of 5% and the oil return, subject to a maximum return of 10%.
If a knock-out event does occur, the payout will be par plus the lesser of the oil return and the maximum return. In this case, investors can receive less than par.
Deutsche Bank Securities Inc. is the agent.
| Issuer: | Deutsche Bank AG, London Branch
|
| Issue: | Capped knock-out securities
|
| Underlying commodity: | WTI crude oil
|
| Amount: | $2.2 million
|
| Maturity: | Jan. 4, 2016
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If knock-out event does not occur, par plus greater of 5% and oil return, subject to 10% maximum return; if knock-out event does occur, par plus lesser of oil return and 10%
|
| Knock-out event: | Price of oil closes below knock-out price on any day during life of notes
|
| Initial oil price: | $91.56
|
| Knock-out price: | $73.25, 80% of initial oil price
|
| Pricing date: | Sept. 23
|
| Settlement date: | Sept. 26
|
| Agent: | Deutsche Bank Securities Inc.
|
| Fees: | 0.25%
|
| Cusip: | 25152RQL0
|
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