Published on 6/22/2010 in the Prospect News Structured Products Daily.
New Issue: Deutsche Bank prices $1.03 million contingent return buffered notes linked to Asian currencies
By Angela McDaniels
Tacoma, Wash., June 22 - Deutsche Bank AG, London Branch priced $1.03 million of 0% contingent return buffered securities due June 25, 2012 linked to the performance of a basket of currencies relative to the euro, according to a 424B2 filing with the Securities and Exchange Commission.
The equally weighted basket includes the Korean won, Indonesian rupiah and Singapore dollar.
If the basket appreciates relative to the euro, the payout at maturity will be par plus the basket gain, subject to a minimum return of 23% and a maximum return of 100%.
Investors will receive par if the basket falls by 5% or less and will lose 1.0526% for every 1% decline beyond 5%.
JPMorgan Chase Bank, NA and J.P. Morgan Securities Inc. are the agents.
Issuer: | Deutsche Bank AG, London Branch
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Issue: | Contingent return buffered securities
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Underlying currencies: | Korean won, Indonesian rupiah and Singapore dollar, equally weighted and each relative to the euro
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Amount: | $1,028,000
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Maturity: | June 25, 2012
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus any basket appreciation, subject to minimum return of 23% and maximum return of 100%; par if basket depreciates by 5% or less; 1.0525% loss for every 1% decline beyond 5%
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Initial spot rates: | 1,489.3582 for won; 11,264.1575 for rupiah; 1.7136 for Singapore dollar
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Final spot rates: | For each currency, the average of its spot rates on the five trading days ending June 20, 2012
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Pricing date: | June 18
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Settlement date: | June 23
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Agent: | JPMorgan Chase Bank, NA and J.P. Morgan Securities Inc.
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Fees: | 1.5%
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Cusip: | 2515A05A7
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