By Marisa Wong
Morgantown, W.Va., May 17 – Deutsche Bank AG, London Branch priced $813,000 of 18% securities due May 17, 2019 linked to the spread between the 30-year U.S. dollar ICE swap rate and the two-year U.S. dollar ICE swap rate, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
The payout at maturity will be par if the final spread of the 30-year swap rate over the two-year swap rate is greater than or equal to zero.
If the final spread is less than zero, the payout will be par plus 250 times the final spread. The payout will be zero if the spread is negative 40 basis points or less.
Deutsche Bank Securities Inc. is the agent.
| Issuer: | Deutsche Bank AG, London Branch
|
| Issue: | Securities
|
| Underlying spread: | 30-year U.S. dollar ICE swap rate over two-year U.S. dollar ICE swap rate
|
| Amount: | $813,000
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| Maturity: | May 17, 2019
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| Coupon: | 18%, payable monthly
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| Price: | Par
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| Payout at maturity: | Par if the final spread is greater than or equal to zero; if final spread is less than zero, par plus 250 times the final spread
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| Pricing date: | May 11
|
| Settlement date: | May 16
|
| Agent: | Deutsche Bank Securities Inc.
|
| Fees: | 4%
|
| Cusip: | 25155MMJ7
|
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