By Angela McDaniels
Seattle, July 27 - Deutsche Bank AG, London Branch priced $718,000 of CMS spread range notes due July 30, 2022, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will accrue interest at 7.425% for the first year. After that, interest will be reset quarterly and will equal 7.425% per year multiplied by the proportion of days during which the spread of the 30-year Constant Maturity Swap (CMS) rate over the two-year CMS rate is at least zero.
Interest is payable quarterly.
The notes are callable at par on any interest payment date beginning July 30, 2008.
Deutsche Bank Securities Inc. and Deutsche Bank Trust Co. Americas are the agents.
| Issuer: | Deutsche Bank AG
|
| Issue: | CMS spread range notes
|
| Amount: | $718,000
|
| Maturity: | July 30, 2022
|
| Coupon: | 7.425% for the first year; after that, 7.425% multiplied by the proportion of days during which the spread of the 30-year CMS rate over the two-year CMS rate is at least zero; payable quarterly
|
| Price: | Par
|
| Payout at maturity: | Par
|
| Call: | At par on any interest payment date beginning July 30, 2008
|
| Pricing date: | July 25
|
| Settlement date: | July 30
|
| Agents: | Deutsche Bank Securities Inc. and Deutsche Bank Trust Co. Americas
|
| Fees: | None
|
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