By Susanna Moon
Chicago, June 24 – Deutsche Bank AG, London Branch priced $309,400 of trigger phoenix autocallable optimization securities due June 25, 2018 linked to Quest Diagnostics Inc. shares, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 7% if Quest stock closes at or above the 72% trigger level on an observation date for that quarter.
The notes will be called at par of $10 plus the contingent coupon if the shares close at or above the initial price on any quarterly observation date after the first six months.
The payout at maturity will be par plus the contingent coupon unless Quest shares finish below the 72% trigger level, in which case investors will be fully exposed to any losses.
UBS Financial Services Inc. and Deutsche Bank Securities Inc. are the underwriters.
| Issuer: | Deutsche Bank AG, London Branch
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| Issue: | Trigger phoenix autocallable optimization securities
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| Underlying stock: | Quest Diagnostics Inc. (Symbol: DGX)
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| Amount: | $309,400
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| Maturity: | June 25, 2018
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| Coupon: | 7% per year, payable quarterly if stock closes at or above trigger price on observation date for that quarter
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| Price: | Par of $10.00
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| Payout at maturity: | Par plus contingent coupon if Quest shares finish at or above trigger price; otherwise, par plus stock return
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| Call: | At par plus contingent coupon if Quest shares close at or above initial price on quarterly observation date after six months
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| Initial level: | $73.34
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| Trigger level: | $52.80, 72% of initial level
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| Pricing date: | June 19
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| Settlement date: | June 24
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| Underwriters: | UBS Financial Services Inc. and Deutsche Bank Securities Inc.
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| Fees: | 2%
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| Cusip: | 25190H836
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