By Marisa Wong
Madison, Wis., July 8 – Deutsche Bank AG, London Branch priced $4.16 million of 0% autocallable market-linked step-up notes due July 16, 2021 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at par of $10 plus a call premium of 8.22% per year if the index closes at or above the initial level on any of five annual call observation dates.
If the index finishes above the step-up level, 130% of the initial level, the payout at maturity will be par of $10 plus the index gain.
If the index gains by up to the step-up level, the payout at maturity will be par of $10 plus the step-up payment of 30%.
Investors will be exposed to any losses.
BofA Merrill Lynch is the agent.
| Issuer: | Deutsche Bank AG, London Branch
|
| Issue: | Autocallable market-linked step-up notes
|
| Underlying index: | S&P 500
|
| Amount: | $4.16 million
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| Maturity: | July 16, 2021
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If the index finishes above the step-up level, par plus the index gain; if the index gains by up to the step-up level, par plus the step-up payment of 30%; investors will be exposed to any losses
|
| Call: | At par plus a call premium of 8.22% per year if the index closes at or above the initial level on any of five annual call observation dates
|
| Initial index level: | 2,063.11
|
| Step-up level: | 2,682.04, 130% of initial level
|
| Pricing date: | June 30
|
| Settlement date: | July 7
|
| Agent: | BofA Merrill Lynch
|
| Fees: | 2%
|
| Cusip: | 25156D522
|
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