Published on 2/25/2013 in the Prospect News Structured Products Daily.
New Issue: Deutsche Bank prices $10 million buffered autocallables linked to four currencies
By Angela McDaniels
Tacoma, Wash., Feb. 25 - Deutsche Bank AG, London Branch priced $10 million of 0% buffered autocallable optimization securities due Feb. 25, 2016 linked to the performance of a basket of currencies relative to the dollar, according to a 424B2 filing with the Securities and Exchange Commission.
The equally weighted basket currencies are the Brazilian real, the Mexican peso, the Indian rupee and the Korean won.
The notes will be called at par of $10 plus an annualized call return of 11% if the basket closes at or above the initial basket level on Feb. 24, 2014, Feb. 23, 2015 or Feb. 22, 2016.
If the notes are not called and the basket's final level is less than the initial basket level by no more than 10%, the payout at maturity will be par. Otherwise, investors will lose 1% for each 1% that the basket declines beyond 10%.
UBS Financial Services Inc. and Deutsche Bank Securities Inc. are the agents.
| Issuer: | Deutsche Bank AG, London Branch
|
| Issue: | Buffered autocallable optimization securities
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| Underlying currencies: | Brazilian real, Mexican peso, Indian rupee and Korean won, equally weighted and measured relative to dollar
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| Amount: | $10 million
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| Maturity: | Feb. 25, 2016
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| Coupon: | 0%
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| Price: | Par of $10
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| Payout at maturity: | Par if basket's final level is less than initial basket level by no more than 10%; otherwise, 1% loss for each 1% that basket declines beyond 10%
|
| Call: | Automatically at par plus annualized call return of 11% if basket closes at or above initial basket level on Feb. 24, 2014, Feb. 23, 2015 or Feb. 22, 2016
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| Initial spot rates: | 1.9720 for real; 12.7739 for peso; 54.4800 for rupee and 1,084.1000 for won
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| Pricing date: | Feb. 21
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| Settlement date: | Feb. 26
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| Agents: | UBS Financial Services Inc. and Deutsche Bank Securities Inc.
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| Fees: | 2.5%
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| Cusip: | 25154S224
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