New Issue: Deutsche Bank prices $10.39 million 8% STEP Income notes linked to United Rentals

By Susanna Moon

Chicago, Oct. 15 – Deutsche Bank AG, London Branch priced $10.39 million of 8% STEP Income Securities due Oct. 30, 2015 linked to United Rentals, Inc. shares, according to a 424B2 filing with the Securities and Exchange Commission.

Interest will be payable quarterly.

If the stock finishes at or above the step level – 108% of the initial share price – the payout at maturity will be par of $10 plus the step payment of 7.1%.

If the stock gains by up to the step level, the payout will be par.

Otherwise, investors will be exposed to any losses.

BofA Merrill Lynch is the agent.

Issuer:	Deutsche Bank AG, London Branch
Issue:	STEP Income Securities
Underlying stock:	United Rentals, Inc. (NYSE: URI)
Amount:	$10,391,200
Maturity:	Oct. 30, 2015
Coupon:	8%, payable quarterly
Price:	Par of $10.00
Payout at maturity:	If stock finishes at or above the step level, par plus 7.1%; if stock gains by up to step level, par; otherwise, exposure to any losses
Initial share price:	$99.91
Step level:	$107.90, 108% of initial share price
Pricing date:	Oct. 9
Settlement date:	Oct. 15
Agent:	BofA Merrill Lynch
Fees:	1.75%
Cusip:	25190A872

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.