By Marisa Wong
Madison, Wis., Oct. 19 - Deutsche Bank AG, London Branch priced $3.49 million of 0% capped knock-out notes due Oct. 26, 2011 linked to the price of gold, according to a 424B2 filing with the Securities and Exchange Commission.
If the price of gold falls below the knock-out price - 80% of the initial price - during the life of the notes, the payout at maturity will be par plus the gold return, which could be positive or negative.
If the price of gold remains at or above the knock-out price, the payout will be par plus the greater of a contingent minimum return of 5% and the gold return.
In either case, the payout will be subject to a maximum return of 18%.
JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC are the agents.
| Issuer: | Deutsche Bank AG, London Branch
|
| Issue: | Capped knock-out notes
|
| Underlying commodity: | Gold
|
| Amount: | $3,494,000
|
| Maturity: | Oct. 26, 2011
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If gold falls below 80% of initial price during life of notes, par plus gold return with exposure to losses; otherwise, par plus greater of gold return and 5%; payout capped at 118% of par in both cases
|
| Initial gold price: | $1,094.00
|
| Pricing date: | Oct. 15
|
| Settlement date: | Oct. 20
|
| Agents: | JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC
|
| Fees: | 1%
|
| Cusip: | 2515A1AN1
|
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