Published on 5/17/2013 in the Prospect News Structured Products Daily.
New Issue: Deutsche prices $4 million autocallable securities tied to three stocks
By Jennifer Chiou
New York, May 17 - Deutsche Bank AG, London Branch priced $4 million of autocallable securities due May 20, 2014 linked to the least performing of the common stocks of Exxon Mobil Corp., Dow Chemical Co. and Amazon.com, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Unless called, the notes will pay a coupon at an annualized rate of 9.75% for that quarter.
If each stock closes at or above its respective initial share price on any review date, the notes will be called at par plus the coupon.
If the notes have not been called and each stock finishes at or above its trigger price, the payout at maturity will be par plus the coupon. Otherwise, investors will receive a number of shares of the least performing stock equal to $1,000 divided by that stock's initial price or, at the issuer's election, the cash value of those shares.
J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA are the agents.
| Issuer: | Deutsche Bank AG, London Branch
|
| Issue: | Autocallable securities
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| Underlying stocks: | Exxon Mobil Corp. (Symbol: XOM), Dow Chemical Co. (Symbol: DOW) and Amazon.com, Inc. (Symbol: AMZN)
|
| Amount: | $4 million
|
| Maturity: | May 20, 2014
|
| Coupon: | 9.75%, payable quarterly unless notes are called
|
| Price: | Par
|
| Payout at maturity: | Par plus the coupon is all stocks finish above their threshold price; otherwise, shares of the least performing stock equal to $1,000 divided by that stock's initial price
|
| Call: | Automatically at par plus coupon if all stocks finish at or above the initial price on any quarterly review date
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| Initial prices: | $91.24 for Exxon Mobil, $35.34 for Dow Chemical, $266.55 for Amazon.com
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| Threshold prices: | $59.31 for Exxon Mobil, $22.97 for Dow Chemical, $173.26 for Amazon.com, all 65% of initial value
|
| Pricing date: | May 15
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| Settlement date: | May 20
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| Agents: | J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA
|
| Fees: | 0.75%
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| Cusip: | 25152RCZ4
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