By Angela McDaniels
Tacoma, Wash., Feb. 10 – Deutsche Bank AG, London Branch priced $1 million of phoenix autocallable securities due Feb. 11, 2020 linked to the common stock of Twitter, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes will pay a contingent coupon at an annual rate of 18% if Twitter stock closes at or above the barrier price, 80% of the initial share price, on the observation date for that quarter.
The notes will be called at par plus the contingent coupon if the shares close at or above the initial price on any quarterly observation date.
The payout at maturity will be par plus the contingent coupon unless the stock finishes below the barrier price, in which case the payout will be a number of Twitter shares equal to $1,000 divided by the initial share price.
JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC are the agents.
| Issuer: | Deutsche Bank AG, London Branch
|
| Issue: | Phoenix autocallable notes
|
| Underlying stock: | Twitter Inc. (Symbol: TWTR)
|
| Amount: | $1 million
|
| Maturity: | Feb. 11, 2020
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| Coupon: | 18% per year, payable quarterly if stock closes at or above barrier level on observation date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par plus contingent coupon if stock finishes at or above barrier price; otherwise, 20.829 Twitter shares
|
| Call: | At par plus contingent coupon if Twitter shares close at or above initial price on any quarterly observation date
|
| Initial share price: | $48.01
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| Barrier level: | $38.41, 80% of initial share price
|
| Pricing date: | Feb. 6
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| Settlement date: | Feb. 11
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| Agents: | JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC2
|
| Fees: | 3%
|
| Cusip: | 25152RUS0
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