By Marisa Wong
Madison, Wis., Dec. 9 – Deutsche Bank AG, London Branch priced $550,000 of phoenix autocallable securities due Dec. 8, 2017 linked to the SPDR S&P Oil & Gas Exploration and Production exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
If the fund closes at or above the barrier price – 80% of the initial price – on a monthly observation date, the issuer will pay a contingent coupon for that month at a rate of 11.05% per year. Otherwise, no coupon will be paid that period. The exact coupon will be set at pricing.
If the fund closes at or above the initial price on a monthly observation date, the notes will be called at par plus the contingent coupon.
If the notes are not called and the fund finishes at or above 80% of the initial price, the payout at maturity will be par plus the contingent coupon. Otherwise, investors will lose 1.25% for every 1% decline beyond the 20% buffer.
Deutsche Bank Securities Inc. is the agent.
| Issuer: | Deutsche Bank AG, London Branch
|
| Issue: | Phoenix autocallable securities
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| Underlying ETF: | SPDR S&P Oil & Gas Exploration and Production ETF
|
| Amount: | $550,000
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| Maturity: | Dec. 8, 2017
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| Coupon: | Contingent monthly coupon of 11.05% per year if fund closes at or above barrier price on monthly observation date
|
| Price: | Par
|
| Payout at maturity: | If fund finishes at or above 80% of initial price, par plus contingent coupon; otherwise, 1.25% loss for every 1% decline beyond 20% buffer
|
| Call: | At par plus contingent coupon if fund closes at or above initial price on a monthly observation date
|
| Initial price: | $48.13
|
| Barrier price: | $38.50, 80% of initial price
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| Pricing date: | Dec. 5
|
| Settlement date: | Dec. 10
|
| Agent: | Deutsche Bank Securities Inc.
|
| Fees: | 0.1%
|
| Cusip: | 25152RTF0
|
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