By Susanna Moon
Chicago, May 30 - Deutsche Bank AG, London Branch priced $11.9 million of 5% trigger mandatory exchangeable securities due Dec. 24, 2008 linked to KeyCorp stock, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable quarterly.
If KeyCorp stock closes at or above the cap price - 130% of the initial share price - the payout at maturity will be the cap price divided by the final stock price.
If the stock closes below the cap price but at or above its initial level, the payout will be a number of shares equal to the exchange rate.
If the stock closes below its initial price but at or above the trigger level - 70% of the initial price - the payout will be par.
If the stock closes below the trigger level, investors will be fully exposed to any losses.
Deutsche Bank Securities Inc. is the agent.
| Issuer: | Deutsche Bank AG, London Branch
|
| Issue: | Trigger mandatory exchangeable securities
|
| Underlying stock: | KeyCorp (NYSE: KEY)
|
| Amount: | $11.9 million
|
| Maturity: | Dec. 24, 2008
|
| Coupon: | 5%, payable quarterly
|
| Price: | Par of $20.00
|
| Payout at maturity: | Par if stock closes above trigger but below initial price; If stock closes at or above the cap price, cap price divided by final stock price; if stock closes below the cap price but at or above its initial level, number of shares equal to the exchange rate; if stock closes below trigger, exposure to any losses
|
| Initial share price: | $20.00
|
| Trigger price: | $14.00, 70% of initial price
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| Cap price: | $26.00, 130% of initial price
|
| Pricing date: | May 29
|
| Settlement date: | June 5
|
| Agent: | Deutsche Bank Securities Inc.
|
| Fees: | 1.5%
|
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