By Angela McDaniels
Tacoma, Wash., April 6 – Deutsche Bank AG, London Branch priced $2.75 million of high/low coupon autocallable securities due Oct. 6, 2016 linked to the Russell 2000 index and the SPDR S&P 500 ETF Trust, according to a 424B2 filing with the Securities and Exchange Commission.
A knock-in event occurs if either underlying component closes below its threshold level, 60% of its initial level, on any day during the life of the notes.
Each quarter, the notes will pay a coupon at the rate of 6.9% per year if a knock-in event does not occur during the observation period for that quarter. If a knock-in event occurs during the observation period, the coupon for that interest period and each subsequent interest period will be 1% per year.
The notes will be called at par if both underlying components close at or above their initial levels on any quarterly observation date.
If the notes are not called, the payout at maturity will be par unless a knock-in event has occurred, in which case investors will be fully exposed to the negative return of the lesser-performing underlying component.
Deutsche Bank Securities Inc. is the agent.
| Issuer: | Deutsche Bank AG, London Branch
|
| Issue: | High/low coupon autocallable securities
|
| Underliers: | Russell 2000 index and SPDR S&P 500 ETF Trust
|
| Amount: | $2,751,000
|
| Maturity: | Oct. 6, 2016
|
| Coupon: | Each quarter, notes pay coupon at rate of 6.9% per year if knock-in event does not occur during that quarter; otherwise, 1% per year for that interest period and each subsequent interest period
|
| Price: | Par
|
| Payout at maturity: | Par unless knock-in event has occurred, in which case full exposure to negative return of lesser-performing underlying component
|
| Call: | Automatically at par if both underlying components close at or above their initial levels on any quarterly observation date
|
| Knock-in event: | Either underlying component closes below threshold level
|
| Initial levels: | 1,251.708 for index and $205.70 for trust
|
| Threshold levels: | 751.025 for index and $123.42 for trust; 60% of initial levels
|
| Pricing date: | April 1
|
| Settlement date: | April 7
|
| Agent: | Deutsche Bank Securities Inc.
|
| Fees: | 0.25%
|
| Cusip: | 25152RA86
|
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