Published on 3/23/2012 in the Prospect News Structured Products Daily.
New Issue: Deutsche Bank prices $2 million 9.25% autocallables linked to GE, Caterpillar
By Angela McDaniels
Tacoma, Wash., March 23 - Deutsche Bank AG, London Branch priced $2 million of 9.25% autocallable securities due March 26, 2013 linked to the worst performing of General Electric Co. and Caterpillar Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable quarterly.
The notes will be automatically called at par if both stocks close at or above their initial share prices on any quarterly call date.
If the notes are not called and either stock finishes below its barrier price, 60% of its initial price, then the payout at maturity will be par minus the decline of the worst-performing stock. Otherwise, the payout will be par.
JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC are the agents.
| Issuer: | Deutsche Bank AG, London Branch
|
| Issue: | Autocallable securities
|
| Underlying stocks: | General Electric Co. (Symbol: GE) and Caterpillar Inc. (Symbol: CAT)
|
| Amount: | $2 million
|
| Maturity: | March 26, 2013
|
| Coupon: | 9.25%, payable quarterly
|
| Price: | Par
|
| Payout at maturity: | If either stock's final share price is less than its barrier price, full exposure to decline of worst-performing stock; otherwise, par
|
| Call: | Automatically at par if both stocks close at or above their initial share prices on June 21, 2012, Sept. 21, 2012, Dec. 21, 2012 or March 21, 2013
|
| Initial share prices: | $20.07 for GE and $109.00 for Caterpillar
|
| Barrier prices: | $12.04 for GE and $65.40 for Caterpillar; 60% of initial share prices
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| Pricing date: | March 21
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| Settlement date: | March 26
|
| Agents: | JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC
|
| Fees: | 1%
|
| Cusip: | 2515A1HR5
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