By Angela McDaniels
Tacoma, Wash., March 30 - Deutsche Bank AG, London Branch priced $1.85 million of autocallable securities due March 31, 2014 linked to a basket of three common stocks, according to a 424B2 filing with the Securities and Exchange Commission.
The basket includes AK Steel Holding Corp., Amazon.com, Inc. and Citigroup, Inc.
The notes will pay a coupon of 7.55% each quarter unless any underlying stock closes below 60% of its initial level on a quarterly observation date, in which case no coupon will be paid that quarter.
The notes will be automatically called at par if the closing price of each stock is equal to or greater than its initial price on any quarterly observation date.
If the notes are not called and each stock finishes at or above 60% of its initial price, the payout at maturity will be par. Otherwise, the payout will be par plus a number of shares of the lowest-performing stock equal to $1,000 divided by the initial share of that stock.
Deutsche Bank Securities Inc. is the underwriter.
| Issuer: | Deutsche Bank AG, London Branch
|
| Issue: | Autocallable securities
|
| Underlying stocks: | AK Steel Holding Corp. (Symbol: AKS), Amazon.com, Inc. (Symbol: AMZN) and Citigroup, Inc. (Symbol: C)
|
| Amount: | $1.85 million
|
| Maturity: | March 31, 2014
|
| Coupon: | 7.55% each quarter unless any underlying stock closes below 60% of its initial level on a quarterly observation date, in which case 0% for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par unless any stock finishes below its threshold level, in which case a number of shares of the worst-performing stock equal to $1,000 divided by its initial share price
|
| Call: | Automatically at par if each stock closes at or above its initial price on a quarterly observation date
|
| Initial stock prices: | $15.61 for AK Steel, $169.35 for Amazon and $4.43 for Citigroup
|
| Threshold levels: | $10.93 for AK Steel, $118.55 for Amazon and $3.10 for Citigroup; 70% of initial prices
|
| Pricing date: | March 28
|
| Settlement date: | March 31
|
| Underwriter: | Deutsche Bank Securities Inc.
|
| Fees: | 2%
|
| Cusip: | 2515A15K3
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