By Angela McDaniels
Tacoma, Wash., July 30 - Deutsche Bank AG, London Branch priced $9.91 million of 0% autocallable securities due July 29, 2016 linked to the SPDR S&P Regional Banking exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
Beginning one year after issuance, the notes will be automatically called if the ETF closes at or above its initial share price on any quarterly call date. If the notes are called, investors will receive par plus an annualized call premium of 7.35%.
If the notes are not called and the final share price is less than the initial share price by no more than 20%, the payout at maturity will be par. Otherwise, investors will lose 1.25% for every 1% that the final share price is less than 20%.
The ETF seeks investment results that correspond generally to the level and yield performance, before fees and expenses, of the S&P Regional Banks Select Industry index, which measures the performance of the regional banking segment of the U.S. equity market.
Deutsche Bank Securities Inc. is the agent.
| Issuer: | Deutsche Bank AG, London Branch
|
| Issue: | Autocallable securities
|
| Amount: | $9,907,000
|
| Maturity: | July 29, 2016
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par if final share price is less than initial share price by no more than 20%; otherwise, 1.25% loss for every 1% that final share price is less than 20%
|
| Call: | Automatically at par plus 7.35% per year if ETF's closing share price is greater than or equal to initial share price on any quarter call date; first quarter call date is July 29, 2014
|
| Initial share price: | $37.04
|
| Pricing date: | July 26
|
| Settlement date: | July 31
|
| Agent: | Deutsche Bank Securities Inc.
|
| Fees: | 0.1%
|
| Cusip: | 25152RDZ3
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
