By Marisa Wong
Madison, Wis., April 4 - Deutsche Bank AG, London Branch priced $3.4 million of securities due May 7, 2013 linked to the Deutsche Bank Commodity Booster OYE Benchmark Light Energy Total Return index, according to a 424B2 filing with the Securities and Exchange Commission.
The coupon will accrue at one-month Libor minus 16 basis points, payable monthly. The initial coupon is 0.08125%.
The notes are putable at any time, subject to a minimum of $1 million principal amount if less than all of a holder's notes are being put back, and they will be called if the index declines by 15% or more.
The payout at maturity or upon redemption will be par plus three times the difference of (a) the index return minus (b) the TBill return minus (c) the adjustment factor.
The TBill return will be the sum of the 91-day weekly auction high rates for U.S. Treasury bills for each day during the life of the securities.
The adjustment factor is equal to the greater of a flat 0.2941% and 0.55% per year.
The index is designed to reflect the performance of futures contracts on physical commodities included in the S&P GSCI Light Energy index. It seeks to outperform the S&P GSCI Light Energy by selecting constituent commodity futures contracts using Deutsche Bank's proprietary Optimum Yield Enhanced methodology.
Deutsche Bank Securities Inc. and Deutsche Bank Trust Co. Americas are the agents.
| Issuer: | Deutsche Bank AG, London Branch
|
| Issue: | Securities
|
| Underlying index: | Deutsche Bank Commodity Booster OYE Benchmark Light Energy Total Return index
|
| Amount: | $3.4 million
|
| Maturity: | May 7, 2013
|
| Coupon: | One-month Libor minus 16 bps
|
| Price: | Par
|
| Payout at maturity: | Par plus triple the difference of (a) the index return minus (b) the TBill return minus (c) the adjustment factor which is the greater of a flat 0.2941% and 0.55% per year
|
| Initial level: | 367.4183
|
| Pricing date: | April 2
|
| Settlement date: | April 10
|
| Agents: | Deutsche Bank Securities Inc. and Deutsche Bank Trust Co. Americas
|
| Fees: | None
|
| Cusip: | 2515A1J36
|
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