By Marisa Wong
Madison, Wis., Aug. 27 – Deutsche Bank AG, London Branch priced $99,968 of capped call warrants expiring Aug. 25, 2017 linked to the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
The issuer priced 2,816 warrants, each with a notional amount of $1,000, at an issue price of $35.50 per warrant, equal to 3.55% of the notional amount.
On the expiration date, the warrants will be exercised automatically, and investors will receive the cash settlement value.
If the final index level is greater than the initial index level, the cash settlement value will be $1,000 multiplied by the lesser of the index return and 8%. If the final index level is less than or equal to the initial index level, the cash settlement value will be zero, and the warrants will expire worthless.
The 8% cap means the maximum payment at expiration is $80.00 per warrant, which would represent a return of 125.35% on the initial investment.
The issuer noted that in order for investors to receive a positive return, the final index level must be greater than the initial level by more than 3.55%.
J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA are the agents.
| Issuer: | Deutsche Bank AG, London Branch
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| Issue: | Capped call warrants
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| Underlying index: | Euro Stoxx 50
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| Amount: | $99,968
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| Expiration date: | Aug. 25, 2017
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| Notional amount: | $1,000
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| Warrants: | 2,816
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| Issue price: | $35.50
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| Payout at expiration: | If final index level is greater than initial index level, $1,000 multiplied by lesser of index return and 8%; if final index level is less than or equal to initial index level, zero
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| Initial index level: | 3,098.50
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| Pricing date: | Aug. 22
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| Settlement date: | Aug. 27
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| Agents: | J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA
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| Fees: | $2.60 per warrant
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| Cusip: | 25155V176
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