By Marisa Wong
Madison, Wis., Oct. 15 - Deutsche Bank AG, London Branch priced $2.19 million of phoenix autocallable notes due Oct. 29, 2014 linked to the common stock of Halliburton Co., according to a 424B2 filing with the Securities and Exchange Commission.
If Halliburton stock closes at or above the barrier level, 80% of the initial share price, on a quarterly observation date, the notes will pay a contingent coupon at an annualized rate of 12.5% for that quarter.
If the shares close at or above the initial price on any quarterly observation date, the notes will be called at par plus the contingent coupon.
If the notes are not called and Halliburton shares finish at or above the barrier level, the payout at maturity will be par plus the contingent coupon. Otherwise, investors will be fully exposed to the share price decline.
JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC are the placement agents.
| Issuer: | Deutsche Bank AG, London Branch
|
| Issue: | Phoenix autocallable notes
|
| Underlying stock: | Halliburton Co. (Symbol: HAL)
|
| Amount: | $2,185,000
|
| Maturity: | Oct. 29, 2014
|
| Contingent coupon: | 12.5%, payable quarterly if stock closes at or above barrier level on quarterly observation date
|
| Price: | Par
|
| Payout at maturity: | If Halliburton shares finish at or above barrier level, par plus contingent coupon; otherwise, full exposure to share price decline
|
| Call: | At par plus contingent coupon if shares close at or above the initial price on any quarterly observation date
|
| Initial share price: | $50.67
|
| Barrier price: | $40.54, 80% of initial price
|
| Pricing date: | Oct. 11
|
| Settlement date: | Oct. 16
|
| Agents: | JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC
|
| Fees: | 1%
|
| Cusip: | 25152REX7
|
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