By Marisa Wong
Morgantown, W.Va., Aug. 10 – Deutsche Bank AG, London Branch priced $1.06 million of phoenix autocallable securities due Feb. 9, 2017 linked to the common stock of Apple Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes will pay a contingent coupon at the rate of 9.5% per year if Apple shares close at or above the barrier price, 80% of the initial price, on the observation date for that quarter. Otherwise, no coupon will be paid for that quarter.
The notes will be called at par plus the contingent coupon if the stock closes at or above the initial price on any quarterly observation date.
If the notes are not called and the shares finish at or above the trigger price, the payout at maturity will be par plus the contingent coupon. Otherwise, investors will lose 1% for every 1% that the final price is less than the initial price.
Deutsche Bank Securities Inc. is the agent.
| Issuer: | Deutsche Bank AG, London Branch
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| Issue: | Phoenix autocallable securities
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| Underlying stock: | Apple Inc. (Symbol: AAPL)
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| Amount: | $1.06 million
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| Maturity: | Feb. 9, 2017
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| Coupon: | Each quarter, notes pay contingent coupon at rate of 9.5% per year if stock closes at or above coupon barrier on observation date for that quarter
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| Price: | Par
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| Payout at maturity: | If stock finishes at or above 80% trigger price, par plus coupon; otherwise, 1% loss for each 1% decline from initial price
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| Call: | Automatically at par if stock closes at or above initial share price on any quarterly observation date
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| Initial share price: | $115.13
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| Coupon barrier/trigger: | $92.10, 80% of initial price
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| Pricing date: | Aug. 6
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| Settlement date: | Aug. 11
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| Agent: | Deutsche Bank Securities Inc.
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| Fees: | 1.5%
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| Cusip: | 25152RL68
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