By Angela McDaniels
Tacoma, Wash., Oct. 10 – Deutsche Bank AG, London Branch priced $24.5 million of 0% autocallable securities due Oct. 28, 2015 linked to the performance of the Indonesian rupiah relative to the dollar, according to a 424B2 filing with the Securities and Exchange Commission.
The currency performance will be positive if the rupiah strengthens relative to the dollar.
If the currency performance is greater than or equal to negative 1.5% on any quarterly observation date, the notes will be automatically called at par plus a call premium of 18.4% per year.
If the notes are not automatically called and the final currency performance is greater than or equal to negative 10%, the payout at maturity will be par. If the final currency performance is less than negative 10%, investors will be fully exposed to the negative currency performance.
The issuer noted that because the currency performance is calculated by dividing the difference between the initial spot rate and the final spot rate by the initial spot rate, the maximum positive currency performance is 100%.
JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC are the agents.
| Issuer: | Deutsche Bank AG, London Branch
|
| Issue: | Autocallable securities
|
| Underlying currency: | Indonesian rupiah, measured relative to dollar
|
| Amount: | $24.5 million
|
| Maturity: | Oct. 28, 2015
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If final currency performance is greater than or equal to negative 10%, par; if final currency performance is less than negative 10%, full exposure to negative currency performance
|
| Call: | Automatically at par plus call premium of 18.4% per year if currency performance is greater than or equal to negative 1.5% on any quarterly observation date
|
| Initial spot rate: | 12,241
|
| Pricing date: | Oct. 8
|
| Settlement date: | Oct. 14
|
| Agents: | JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC
|
| Fees: | 0.65%
|
| Cusip: | 25152RRN5
|
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