By Angela McDaniels
Tacoma, Wash., April 28 – Deutsche Bank AG, London Branch priced $1.1 million of phoenix autocallable securities due April 29, 2020 linked to the American Depositary Shares of Alibaba Group Holding Ltd., according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes will pay a contingent coupon at the rate of 7.5% per year if Alibaba shares close at or above the barrier price, 80% of the initial share price, on the observation date for that quarter. Otherwise, no coupon will be paid 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.
If the notes are not called and the shares finish at or above the barrier price, the payout at maturity will be par plus the contingent coupon. Otherwise, investors will receive a number of Alibaba shares equal to $1,000 divided by the initial share price.
J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA are the agents.
| Issuer: | Deutsche Bank AG, London Branch
|
| Issue: | Phoenix autocallable securities
|
| Underlying stock: | Alibaba Holding Ltd. (Symbol: BABA)
|
| Amount: | $1.1 million
|
| Maturity: | April 29, 2020
|
| Coupon: | 7.5%, payable quarterly if shares close at or above barrier price on observation date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par plus contingent coupon if Alibaba shares finish at or above barrier price; otherwise, 11.8245 Alibaba shares
|
| Call: | Automatically at par plus contingent coupon if Alibaba shares close at or above initial price on any quarterly observation date
|
| Initial share price: | $84.57
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| Barrier price: | $67.66, 80% of initial share price
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| Pricing date: | April 24
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| Settlement date: | April 29
|
| Agents: | J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA
|
| Fees: | 3%
|
| Cusip: | 25152RD83
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