Published on 6/18/2010 in the Prospect News Structured Products Daily.
New Issue: Deutsche prices $7.01 million 11% yield optimization notes linked to MetLife via UBS
By Jennifer Chiou
New York, June 18 - Deutsche Bank AG, London Branch priced $7.01 million of 11% annualized yield optimization notes with contingent protection due Dec. 22, 2010 linked to the common stock of MetLife, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Each note has a face value of $41.00, which is equal to the closing price of MetLife stock on the pricing date.
Interest is payable monthly.
The payout at maturity will be par unless the final price of MetLife stock is less than 65% of the initial share price, in which case the payout will be one share of MetLife stock.
UBS Financial Services Inc. and Deutsche Bank Securities Inc. are the underwriters.
| Issuer: | Deutsche Bank AG, London Branch
|
| Issue: | Yield optimization notes with contingent protection
|
| Underlying stock: | MetLife, Inc. (NYSE: MET)
|
| Amount: | $7,009,442
|
| Maturity: | Dec. 22, 2010
|
| Coupon: | 11%, payable monthly
|
| Price: | Par of $41.00
|
| Payout at maturity: | If final share price is less than trigger price, one MetLife share; otherwise, par
|
| Initial share price: | $41.00
|
| Trigger price: | $26.65, 65% of initial price
|
| Pricing date: | June 16
|
| Settlement date: | June 21
|
| Underwriters: | UBS Financial Services Inc. and Deutsche Bank Securities Inc.
|
| Fees: | 1%
|
| Cusip: | 25154N464
|
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