By Susanna Moon
Chicago, Aug. 30 – Deutsche Bank AG, London Branch priced $2.08 million of phoenix autocallable securities due Sept. 12, 2018 linked to Broadcom Ltd. stock, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 10% if the stock closes at or above its coupon barrier, 66% of its initial level, on the observation date for that quarter.
The notes will be called at par plus the contingent coupon if the stock closes at or above its initial level on any observation date.
The payout at maturity will be par plus the contingent coupon unless the stock finishes below its 66% trigger level, in which case investors will be fully exposed to any losses.
Deutsche Bank Securities Inc. is the agent.
Issuer: | Deutsche Bank AG, London Branch
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Issue: | Phoenix autocallable securities
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Underlying stock: | Broadcom Ltd. (Symbol: AVGO)
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Amount: | $2,072,000
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Maturity: | Sept. 12, 2018
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Coupon: | 10% payable quarterly if stock closes at or above 66% coupon barrier on observation date for that quarter
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Price: | Par
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Payout at maturity: | Par unless stock finishes below trigger level, in which case 1% loss for each 1% decline
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Call: | At par plus contingent coupon if stock closes at or above initial price on any quarterly observation date
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Initial level: | $245.59
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Trigger level: | $162.09, 66% of initial level
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Pricing date: | Aug. 25
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Settlement date: | Aug. 30
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Agent: | Deutsche Bank Securities Inc.
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Fees: | 1%
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Cusip: | 25155MDG3
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