By Toni Weeks
San Diego, Oct. 15 - Deutsche Bank AG, London Branch priced $9.5 million of securities due Nov. 15, 2013 linked to the S&P GSCI Total Return, according to a 424B2 filing with the Securities and Exchange Commission.
The index is designed as a benchmark for investment in the commodity markets and tracks a production-weighted basket of futures contracts on principal non-financial commodities.
Interest equals one-month Libor minus 16 basis points and is payable monthly.
The securities are putable at any time subject to a minimum of $1 million principal amount, and they will be called if the index declines by 15% or more.
The payout upon redemption or at maturity will be par plus triple the sum of the index return minus the TBill return minus the adjustment factor, which is the greater of 0.001053 and 0.23% per year.
The TBill return will be the sum of the 91-day weekly auction high rates for U.S. Treasury bills for each day during the life of the securities.
Deutsche Bank Securities Inc. and Deutsche Bank Trust Co. Americas are the agents.
| Issuer: | Deutsche Bank AG, London Branch
|
| Issue: | Securities
|
| Underlying index: | S&P GSCI Total Return
|
| Amount: | $9.5 million
|
| Maturity: | Nov. 15, 2013
|
| Coupon: | One-month Libor minus 16 bps, payable monthly
|
| Price: | Par
|
| Payout at maturity: | Par plus triple the sum of the index return minus the TBill return minus the adjustment factor, which is the greater of 0.001053 and 0.23% per year
|
| Put option: | At any time subject to minimum of $1 million; payout determined in same way as at maturity
|
| Call: | Automatically if index declines by 15% or more; payout determined in same way as at maturity
|
| Initial index level: | 5,108.351
|
| Trigger level: | 4,342.098, 85% of initial level
|
| Pricing date: | Oct. 11
|
| Settlement date: | Oct. 16
|
| Agents: | Deutsche Bank Securities Inc. and Deutsche Bank Trust Co. Americas
|
| Fees: | None
|
| Cusip: | 2515A1LW9
|
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