By Susanna Moon
Chicago, May 20 - Deutsche Bank AG, London Branch priced $2.28 million of airbag phoenix autocallable optimization securities due Nov. 20, 2015 linked to Genworth Financial, Inc. shares, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annual rate of 8% if the stock closes at or above the 75% coupon barrier level on an observation date for the month.
The notes will be called at par plus accrued interest if Genworth stock closes at or above the initial share price on any quarterly observation date.
The payout at maturity will be par unless the final share price is less than the conversion price, in which case the payout will be a number of Genworth shares equal to $1,000 divided by the conversion price. The conversion price is 85% of the initial share price.
Deutsche Bank Securities is the agent, and UBS Financial Services Inc. is the dealer.
Issuer: | Deutsche Bank AG, London Branch
|
Issue: | Airbag phoenix autocallable optimization securities
|
Underlying stock: | Genworth Financial, Inc. (Symbol: GNW)
|
Amount: | $2,281,000
|
Maturity: | Nov. 20, 2015
|
Coupon: | 8% annualized for each month that stock closes at or above coupon barrier level on review date for that month
|
Price: | Par
|
Payout at maturity: | If final price is less than conversion price, Genworth shares equal to $1,000 divided by the conversion price; otherwise, par
|
Call: | At par if Genworth shares close at or above initial share price on any quarterly observation date
|
Initial price: | $17.64
|
Coupon barrier level: | $13.23, 75% of initial level
|
Conversion price: | $14.99, 85% of initial price
|
Pricing date: | May 16
|
Settlement date: | May 21
|
Underwriters: | UBS Financial Services Inc. and Deutsche Bank Securities
|
Fees: | 1.5%
|
Cusip: | 25155Q367
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.