By Laura Lutz
Des Moines, Nov. 5 - Deutsche Bank AG, London Branch priced a $2 million issue of CMS slope steepener notes due Nov. 6, 2022, according to a 424B2 filing with the Securities and Exchange Commission.
The notes bear interest at a fixed rate of 10% for the first two years.
After that, the interest rate will equal 12 times the spread of the 30-year Constant Maturity Swap (CMS) rate over the two-year CMS rate. This rate will be reset quarterly and will be subject to a minimum of 0% and a maximum of 10%.
Interest is payable quarterly.
The notes are callable at par plus accrued interest on any interest payment date beginning November 2009.
If the notes are not called, the payout at maturity will be par plus accrued interest.
Deutsche Bank Securities Inc. and Deutsche Bank Trust Co. Americas are the agents.
| Issuer: | Deutsche Bank AG, London Branch
|
| Issue: | CMS slope steepener notes
|
| Amount: | $2 million
|
| Maturity: | Nov. 6, 2022
|
| Interest rate: | 10% for the first two years; after that, 12 times the spread of the 30-year Constant Maturity Swap (CMS) rate over the two-year CMS rate, reset quarterly and subject to a minimum interest rate of 0% and a maximum interest rate of 10%; payable quarterly
|
| Price: | Par
|
| Payout at maturity: | Par
|
| Call: | From November 2009 onwards
|
| Pricing date: | Nov. 1
|
| Settlement date: | Nov. 6
|
| Agents: | Deutsche Bank Securities Inc.; Deutsche Bank Trust Co. Americas
|
| Fees: | 0%
|
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