By Jennifer Chiou
New York, Jan. 25 - Deutsche Bank AG, London Branch priced $5 million of 0% capped knock-out notes due Feb. 1, 2012 linked the Dow Jones-UBS Crude Oil 3 Month Forward Subindex, according to a 424B2 with the Securities and Exchange Commission.
If the index falls below the knock-out level - 80% of the initial level - at any time during the life of the notes, the payout at maturity will be par plus the index return, which could be positive or negative.
If the index remains at or above the knock-out level throughout the life of the notes, the payout will be par plus the greater of the index return and a contingent minimum return of 7.75%.
In either case, the payout is subject to a maximum return of 12.5%.
JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC are the agents.
Issuer: | Deutsche Bank AG, London Branch
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Issue: | Capped knock-out notes
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Underlying index: | Dow Jones-UBS Crude Oil 3 Month Forward Subindex
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Amount: | $5 million
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Maturity: | Feb. 1, 2012
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If index falls by more than 20% during life of notes, par plus index return with exposure to losses; otherwise, par plus greater of index return and 7.75%; in both cases, return capped at 12.5%
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Initial index level: | 763.5824
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Knock-out level: | 610.8659, 80% of initial level
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Pricing date: | Jan. 21
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Settlement date: | Jan. 26
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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: | 2515A13E9
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