By Marisa Wong
Morgantown, W.Va., June 12 – Deutsche Bank AG, London Branch priced $5.29 million 0% digital return notes due June 13, 2018 linked to the performance of the Brazilian real relative to the dollar, according to a 424B2 filing with the Securities and Exchange Commission.
If the currency performance is at least negative 25%, the payout at maturity will be par plus the digital return of 9.5%. Otherwise, the payout will be par plus the currency performance with full exposure to losses.
The currency performance is (a) the initial spot rate minus the final spot rate divided by (b) the initial spot rate.
A higher spot rate indicates a weakening of the real against the dollar, while a lower spot rate indicates a strengthening of the real against the dollar.
JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC are the placement agents.
| Issuer: | Deutsche Bank AG, London Branch
|
| Issue: | Digital return notes
|
| Underlying currency: | Brazilian real relative to the dollar
|
| Amount: | $5,285,000
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| Maturity: | June 13, 2018
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If the currency performance is at least negative 25%, par plus the digital return of 9.5%; otherwise, par plus the currency performance with full exposure to losses
|
| Initial spot rate: | 3.2614
|
| Pricing date: | May 26
|
| Settlement date: | June 1
|
| Agents: | JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC
|
| Fees: | 1%
|
| Cusip: | 25155MBE0
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