By Angela McDaniels
Tacoma, Wash., April 28 - Deutsche Bank AG, London Branch priced $1.67 million of 0% buffered barrier rebate securities due Nov. 1, 2010 linked to the price of gold, according to a 424B2 filing with the Securities and Exchange Commission.
If the price of gold is greater than the upper barrier - 135% of the initial price - on any day during the life of the notes, the payout at maturity will be par plus the rebate as long as the final price of gold is at least 85% of the initial price. Otherwise, investors will receive par plus the rebate and minus 1% for every 1% that gold drops below 85% of the initial price.
The rebate is 14%
If the price of gold does not cross the upper barrier during the life of the notes, the payout at maturity will be:
• Par plus any increase in the gold price;
• Par if the gold price declines by 15% or less; or
• Par minus 1% for every 1% that the gold price declines beyond 15%.
The issuer said it may increase the issue size prior to settlement.
Deutsche Bank Securities Inc. and Deutsche Bank Trust Co. Americas are the agents.
| Issuer: | Deutsche Bank AG, London Branch
|
| Issue: | Buffered barrier rebate securities
|
| Underlying commodity: | Gold
|
| Amount: | $1,665,000
|
| Maturity: | Nov. 1, 2010
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If gold crosses upper barrier during life of notes and final price is at least 85% of initial price, par plus 14%; if gold crosses upper barrier during life of notes and final price is less than 85% of initial price, par plus 14% and minus 1% for every 1% that gold drops below 85% of initial price; if gold does not cross upper barrier, par plus any increase in gold price, par if gold price falls by 15% or less or par minus 1% for every 1% declines beyond 15%
|
| Initial gold price: | $907.50
|
| Barrier: | $1,225.125, 135% of initial price
|
| Pricing date: | April 27
|
| Settlement date: | April 30
|
| Agents: | Deutsche Bank Securities Inc. and Deutsche Bank Trust Co. Americas
|
| Fees: | 0.75%
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
