By Marisa Wong
Madison, Wis., March 27 – Deutsche Bank AG, London Branch priced $8 million of 0% autocallable market-linked step-up notes due April 3, 2018 tied to the DAX Index (Price Return), according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at par of $10 plus a call premium of 11.6% per year if the index closes at or above the initial level on any annual call observation date.
If the index finishes at or above the initial level, the payout at maturity will be par of $10 plus the greater of the step-up payment and the index return. The step-up payment is 30%.
Investors will be fully exposed to any index decline.
BofA Merrill Lynch is the underwriter.
| Issuer: | Deutsche Bank AG, London Branch
|
| Issue: | Autocallable market-linked step-up notes
|
| Underlying index: | DAX Index (Price Return)
|
| Amount: | $8 million
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| Maturity: | April 3, 2018
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | If index finishes above step-up value, par plus index return; if index stays flat or gains but finishes at or below step-up value, par plus 30%; full exposure to losses
|
| Call: | Automatically at par plus call premium of 11.6% per year if index closes at or above the initial level on any annual call observation date
|
| Initial index level: | 6,086.04
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| Step-up value: | 7,911.85, 130% of initial value
|
| Pricing date: | March 25
|
| Settlement date: | April 2
|
| Underwriter: | BofA Merrill Lynch
|
| Fees: | 1.5%
|
| Cusip: | 25156D670
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