By Jennifer Chiou
New York, July 26 - Deutsche Bank AG, London Branch priced $1 million of 17.23% reverse convertible notes due July 28, 2008 linked to General Motors Corp. stock, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
The payout at maturity will be par in cash if General Motors stock stays at or above the protection price, 75% of the initial share price of $33.73, during the life of the notes and finishes at or above the initial share price. Otherwise, the payout will be in General Motors stock, with the number of shares equal to $1,000 divided by the initial share price.
Deutsche Bank Securities is the agent.
| Issuer: | Deutsche Bank AG, London Branch
|
| Issue: | Reverse convertible notes
|
| Underlying stock: | General Motors Corp.
|
| Amount: | $1 million
|
| Maturity: | July 28, 2008
|
| Coupon: | 17.23%, payable monthly
|
| Price: | Par
|
| Payout at maturity: | Par in cash if General Motors stock stays at or above the protection price of $25.2975 during the life of the notes and finishes at or above the initial share price; otherwise shares of General Motors stock equal to $1,000 divided by the initial share price
|
| Initial share price: | $33.73
|
| Protection price: | $25.2975, 75% of $33.73
|
| Pricing date: | July 25
|
| Settlement date: | July 30
|
| Agent: | Deutsche Bank Securities
|
| Fees: | 1.5%
|
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