By Susanna Moon
Chicago, May 13 - Deutsche Bank AG, London Branch priced $2.42 million of trigger phoenix autocallable optimization securities due May 15, 2019 linked to Qualcomm Inc. shares, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annualized rate of 6% if the price of Qualcomm stock closes at or above the 73.5% trigger level on the observation date for that month.
If the stock closes at or above the initial price on any monthly observation date after one year, the notes will be called at par of $10 plus the contingent coupon.
If the notes are not called and the Qualcomm share price finishes at or above the trigger price, the payout at maturity will be par plus the contingent coupon.
Otherwise, investors will be exposed to losses.
UBS Financial Services Inc. and Deutsche Bank Securities Inc. are the underwriters.
Issuer: | Deutsche Bank AG, London Branch
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Issue: | Trigger phoenix autocallable optimization securities
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Underlying stock: | Qualcomm Inc. (Symbol: QCOM)
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Amount: | $2.42 million
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Maturity: | May 15, 2019
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Coupon: | 6%, payable monthly if stock closes at or above trigger price on observation date for that month
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Price: | Par of $10.00
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Payout at maturity: | Par plus contingent coupon if Qualcomm shares finish at or above trigger price; otherwise, par plus stock return
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Call: | At par plus contingent coupon if Qualcomm shares close at or above initial price on a monthly observation date beginning May 15, 2015
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Initial share price: | $79.50
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Trigger price: | $58.43, 73.5% of initial price
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Pricing date: | May 9
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Settlement date: | May 14
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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: | 25155Q458
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