By Angela McDaniels
Tacoma, Wash., March 30 – Deutsche Bank AG, London Branch priced $30.45 million of 0% autocallable market-linked step-up notes due March 27, 2020 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be automatically called at par of $10 plus a call premium of 7.25% per year if the index closes at or above the initial index level on any annual observation date.
If the notes are not called and the final index level is greater than the step-up value, 135% of the initial index level, the payout at maturity will be par plus the index return.
If the final index level is greater than or equal to the initial level but less than or equal to the step-up value, the payout will be par plus the step-up payment, 35%.
Investors will receive par if the index declines by 15% or less and will lose 1% for every 1% that it declines beyond 15%.
BofA Merrill Lynch is the agent.
| Issuer: | Deutsche Bank AG, London Branch
|
| Issue: | Autocallable market-linked step-up notes
|
| Underlying index: | Russell 2000
|
| Amount: | $30,451,200
|
| Maturity: | March 27, 2020
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | If final index level is greater than step-up value, par plus index return; if final index level is greater than or equal to initial level but less than or equal to step-up value, par plus 35%; if index declines by 15% or less, par; otherwise, 1% loss for every 1% that index declines beyond 15%
|
| Call: | At par plus 7.25% per year if index closes at or above initial index level on any annual observation date
|
| Initial level: | 1,231.99
|
| Threshold value: | 1,047.192, 85% of initial level
|
| Pricing date: | March 26
|
| Settlement date: | April 2
|
| Agent: | BofA Merrill Lynch
|
| Fees: | 2%
|
| Cusip: | 25155G351
|
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