By Wendy Van Sickle
Columbus, Ohio, Aug. 30 – Deutsche Bank AG, London Branch priced $6.41 million of phoenix autocallable securities due Sept. 12, 2018 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 an annual rate of 10% if Apple stock closes at or above the coupon barrier, 77.5% of the initial price, on the observation date for that quarter.
The notes will be automatically called at par if the stock closes at or above the initial index level on any observation date.
The payout at maturity will be par plus the contingent coupon unless Apple shares finish below the 77.5% trigger price, in which case investors will be exposed to the stock’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 stock: | Apple Inc. (Nasdaq: AAPL)
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| Amount: | $6,414,000
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| Maturity: | Sept. 12, 2018
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| Coupon: | 10%, payable quarterly if stock closes at or above coupon barrier 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 Apple shares finish at or above trigger price; otherwise, par plus stock return
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| Call: | Automatically at par plus contingent coupon if Apple shares close at or above initial price on a quarterly observation date
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| Initial share price: | $159.86
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| Coupon barrier/trigger: | $123.89, 77.5% of initial price
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| Pricing date: | Aug. 25
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| Settlement date: | Aug. 30
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| Underwriters: | JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC
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| Fees: | 1%
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| Cusip: | 25155MDK4
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