Published on 1/29/2014 in the Prospect News Structured Products Daily.
New Issue: Deutsche Bank prices $2.66 million airbag phoenix autocallables linked to Hartford
By Angela McDaniels
Tacoma, Wash., Jan. 29 - Deutsche Bank AG, London Branch priced $2.66 million of airbag phoenix autocallable optimization securities due July 31, 2015 linked to the common stock of Hartford Financial Services Group, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Each month, the notes will pay a coupon at the rate of 8% per year if Hartford stock closes at or above the coupon barrier, 80% of the initial share price, on the observation date for that month.
The notes will be called automatically at par if Hartford shares close 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 Hartford shares equal to $1,000 divided by the conversion price. The conversion price is 85% of the initial share price.
UBS Financial Services Inc. and Deutsche Bank Securities Inc. are the underwriters.
| Issuer: | Deutsche Bank AG, London Branch
|
| Issue: | Airbag phoenix autocallable optimization securities
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| Underlying stock: | Hartford Financial Services Group, Inc. (NYSE: HIG)
|
| Amount: | $2,656,000
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| Maturity: | July 31, 2015
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| Coupon: | 8% per year, payable monthly if Hartford stock closes at or above coupon barrier on observation date for that month
|
| Price: | Par
|
| Payout at maturity: | If final share price is less than conversion price, number of Hartford shares equal to $1,000 divided by conversion price; otherwise, par
|
| Call: | Automatically at par if Hartford shares close at or above initial share price on April 24, 2014, July 24, 2014, Oct. 27, 2014, Jan. 26, 2015, April 24, 2015 or July 27, 2015
|
| Initial share price: | $32.77
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| Coupon barrier: | $26.22, 80% of initial share price
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| Conversion price: | $27.85, 85% of initial share price
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| Pricing date: | Jan. 24
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| Settlement date: | Jan. 31
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| Underwriters: | UBS Financial Services Inc. and Deutsche Bank Securities Inc.
|
| Fees: | 1.5%
|
| Cusip: | 25155G468
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