By Angela McDaniels
Tacoma, Wash., Oct. 30 – Deutsche Bank AG, London Branch priced $20 million of callable leveraged steepener notes due Oct. 31, 2034 linked to the 30-year Constant Maturity Swap rate and the two-year CMS rate, according to a 424B2 filing with the Securities and Exchange Commission.
The interest rate is 10% for the first year. After that, the interest rate will be 4.5 times the spread of the 30-year CMS rate over the two-year CMS rate minus 25 basis points, subject to a minimum of zero and a maximum of 10% per year. Interest is payable quarterly.
The payout at maturity will be par.
Beginning Oct. 31, 2015, the notes are callable at par on any interest payment date.
Deutsche Bank Securities Inc. is the agent. Morgan Stanley & Co. LLC is a dealer.
| Issuer: | Deutsche Bank AG, London Branch
|
| Issue: | Callable leveraged steepener notes
|
| Underlying rates: | 30-year and two-year Constant Maturity Swap rates
|
| Amount: | $20 million
|
| Maturity: | Oct. 31, 2034
|
| Coupon: | 10% for first year; after that, 4.5 times spread of 30-year CMS rate over two-year CMS rate minus 25 bps, subject to minimum of zero and maximum of 10% per year; payable quarterly
|
| Price: | Par
|
| Payout at maturity: | Par
|
| Call option: | At par on any interest payment date from Oct. 31, 2015 onward
|
| Pricing date: | Oct. 28
|
| Settlement date: | Oct. 31
|
| Agent: | Deutsche Bank Securities Inc.
|
| Selected dealer: | Morgan Stanley & Co. LLC
|
| Fees: | 3.5%
|
| Cusip: | 25152RXF5
|
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