By Angela McDaniels
Tacoma, Wash., Nov. 24 - Deutsche Bank AG, London Branch priced $1 million of 0% buffered barrier rebate securities due Nov. 27, 2013 linked to the price of gold, according to a 424B2 filing with the Securities and Exchange Commission.
If the price of gold is greater than the upper barrier - 175% of the initial price - on any day during the life of the notes, the payout at maturity will be par plus 36%.
If the price of gold does not cross the upper barrier during the life of the notes, the payout at maturity will be:
• Par plus 130% of any increase in the gold price;
• Par if the gold price declines by 10% or less; or
• Par minus 1.1111% for every 1% that the gold price declines beyond 10%.
The issuer said it may increase the issue size prior to settlement.
Deutsche Bank Securities Inc. is the agent.
| Issuer: | Deutsche Bank AG, London Branch
|
| Issue: | Buffered barrier rebate securities
|
| Underlying commodity: | Gold
|
| Amount: | $1 million
|
| Maturity: | Nov. 27, 2013
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If gold crosses upper barrier during life of notes, par plus 36%; otherwise, par plus 130% of any increase in gold price, par if gold price falls by 10% or less or par minus 1.1111% for every 1% decline beyond 10%
|
| Initial gold price: | $1,365.50
|
| Barrier: | $2,373.88, 175% of initial price
|
| Pricing date: | Nov. 22
|
| Settlement date: | Nov. 26
|
| Agent: | Deutsche Bank Securities Inc.
|
| Fees: | 0.4%
|
| Cusip: | 2515A1BV2
|
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