By Laura Lutz
Des Moines, April 19 - Deutsche Bank AG, London Branch priced a $6.3 million offering of CMS (constant maturity swap) spread range notes due April 20, 2022, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay 8% interest for the first year.
After the first year, the interest payment will equal the 8% base interest rate multiplied by the proportion of days on which the 30-year CMS rate is higher than the two-year CMS rate.
Interest will be payable quarterly.
The notes will be callable at par on any interest payment date starting in April 2008.
Deutsche Bank Securities Inc. and Deutsche Bank Trust Co. Americas are the agents.
| Issuer: | Deutsche Bank AG, London Branch
|
| Issue: | CMS spread range notes
|
| Amount: | $6.3 million
|
| Maturity: | April 20, 2022
|
| Coupon: | 8% for the first year; after that, 8% multiplied by the proportion of days on which the spread of the 30-year CMS rate over the two-year CMS rate is equal to or greater than zero; payable quarterly
|
| Price: | Par
|
| Call: | On any interest payment dates starting in April 2008
|
| Payout at maturity: | Par plus accrued interest
|
| Pricing date: | April 17
|
| Settlement date: | April 20
|
| Agents: | Deutsche Bank Securities Inc., Deutsche Bank Trust Co. Americas
|
| Agent fees: | None
|
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