By Susanna Moon
Chicago, Nov. 16 – Deutsche Bank AG, London Branch priced $2 million of phoenix autocallable securities due Nov. 30, 2016 linked to Netflix, Inc. shares, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 18.8% if the shares close at or above the barrier level, 60% of the initial share price, on the observation date for that quarter.
The notes will be called at par plus the contingent coupon if the shares close at or above the initial price on any quarterly observation date.
The payout at maturity will be par plus the contingent coupon unless the shares finish below the 60% barrier level, in which case the payout will be a number of shares equal to $1,000 divided by the initial share price.
JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC are the placement agents.
| Issuer: | Deutsche Bank AG, London Branch
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| Issue: | Phoenix autocallable securities
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| Underlying stock: | Netflix, Inc. (Symbol: NFLX)
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| Amount: | $2 million
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| Maturity: | Nov. 30, 2016
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| Coupon: | 18.8%, payable quarterly if shares close at or above barrier price on observation date for that quarter
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| Price: | Par
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| Payout at maturity: | Par plus contingent coupon if shares finish at or above barrier level; otherwise, number of shares equal to $1,000 divided by the initial share price
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| Call: | At par plus contingent coupon if shares close at or above initial price on any quarterly observation date
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| Initial level: | $112.70
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| Barrier level: | 60% of initial share price
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| Pricing date: | Nov. 10
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| Settlement date: | Nov. 16
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| Agents: | JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC
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| Fees: | 1%
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| Cusip: | 25152RT94
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