By Angela McDaniels
Tacoma, Wash., July 1 – Deutsche Bank AG, London Branch priced $8.38 million of 0% capped absolute return knock-out notes due July 14, 2016 linked to the common stock of Merck & Co., Inc., according to a 424B2 filing with the Securities and Exchange Commission.
If the final share price is greater than or equal to the initial share price, the payout at maturity will be par plus the stock return, subject to a minimum return of 4% and a maximum return of 14.5%.
If the final share price is less than the initial share price but equal to or greater than the knock-out price, 90% of the initial share price, the payout will be par plus the greater of the absolute value of the stock return and 4%.
If the final share price is less than the knock-out share price, investors will share fully in the stock’s decline from the initial share price.
JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC are the agents.
| Issuer: | Deutsche Bank AG, London Branch
|
| Issue: | Capped absolute return knock-out notes
|
| Underlying stock: | Merck & Co., Inc. (Symbol: MRK)
|
| Amount: | $8.38 million
|
| Maturity: | July 14, 2016
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If final share price is greater than or equal to initial share price, par plus stock return, subject to 4% minimum return and 14.5% maximum return; if final share price is less than initial share price but equal to or greater than knock-out price, par plus greater of absolute value of stock return and 4%; if final share price is less than knock-out share price, full exposure to stock’s decline from initial share price
|
| Initial share price: | $58.49
|
| Knock-out price: | $52.64, 90% of initial share price
|
| Final share price: | Average of closing share prices on five trading days ending July 11, 2016
|
| Pricing date: | June 26
|
| Settlement date: | July 1
|
| Agents: | JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC
|
| Fees: | 1%
|
| Cusip: | 25152RH63
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
