By Marisa Wong
Morgantown, W.Va., Aug. 14 – Deutsche Bank AG, London Branch priced $1.76 million of phoenix autocallable securities due Sept. 5, 2018 linked to the Euro Stoxx Banks index, according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes will pay a contingent coupon at an annual rate of 10% if the index closes at or above the coupon barrier, 77% of the initial index level, on the observation date for that quarter.
The notes will be automatically called at par if the index closes at or above the initial index level on any quarterly observation date.
The payout at maturity will be par unless the index finishes below the 77% trigger level, in which case investors will be exposed to the index’s decline from its initial level.
JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC are the agents.
| Issuer: | Deutsche Bank AG, London Branch
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| Issue: | Phoenix autocallable securities
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| Underlying index: | Euro Stoxx Banks index
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| Amount: | $1.76 million
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| Maturity: | Sept. 5, 2018
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| Coupon: | 10% payable quarterly if index 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: | Par unless index finishes below trigger level, in which case 1% loss for each 1% decline
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| Call: | At par plus contingent coupon if index closes at or above initial level on any quarterly observation date
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| Initial level: | 138.69
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| Coupon barrier: | 106.79, 77% of initial level
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| Trigger level: | 106.79, 77% of initial level
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| Pricing date: | Aug. 4
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| Settlement date: | Aug. 9
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| Agents: | JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC
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| Fees: | 1.04%
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| Cusip: | 25155MCV1
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