By Toni Weeks
San Luis Obispo, Calif., April 28 – Deutsche Bank AG, London Branch priced $2.21 million of 0% knock-out notes due Nov. 2, 2016 linked to the S&P 500 index, according to a 424B3 filing with the Securities and Exchange Commission.
A knock-out event occurs if the index closes below the knock-out level, 76.5% of the initial level, on any day during the life of the notes.
If the index finishes at or above the initial level, the payout at maturity will be par plus any gain.
If a knock-out event has not occurred and the index return is negative, the payout will be par. If a knock-out event has occurred and the index return is negative, investors will lose 1% for each 1% index decline from the initial level.
The final index level will be the average of the closing index levels on the five trading days ending Oct. 28, 2016.
J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA are the placement agents.
| Issuer: | Deutsche Bank AG, London Branch
|
| Issue: | Knock-out notes
|
| Underlying index: | S&P 500
|
| Amount: | $2,205,000
|
| Maturity: | Nov. 2, 2016
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If index finishes at or above initial level, par plus any gain; if a knock-out event has not occurred and index return is negative, par; if a knock-out event has occurred and index return is negative, 1% loss for each 1% index decline from initial level
|
| Knock-out event: | Occurs if index closes below knock-out level on any day during the life of the notes
|
| Initial level: | 2,117.69
|
| Knock-out level: | 1,620.03, 76.5% of initial level
|
| Pricing date: | April 24
|
| Settlement date: | April 29
|
| Agents: | J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA
|
| Fees: | 1.25%
|
| Cusip: | 25152RD34
|
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