Published on 9/20/2012 in the Prospect News Structured Products Daily.
New Issue: Deutsche Bank prices $6.42 million high/low coupon autocallables linked to S&P, Russell
By Angela McDaniels
Tacoma, Wash., Sept. 20 - Deutsche Bank AG, London Branch priced $6.42 million of high/low coupon autocallable securities due Sept. 24, 2013 linked to the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
A knock-in event occurs if either index closes below its threshold level, 75% of its initial level, on any day during the life of the notes.
If a knock-in event does not occur during a quarterly observation period, the coupon will be 10.15% per year for that period. If a knock-in event occurs during a quarterly observation period, the coupon for that period and each subsequent period will be 1% per year. Interest is payable semiannually.
The notes will be called at par if both indexes close at or above their initial levels on any quarterly observation date.
If the notes are not called, the payout at maturity will be par unless a knock-in event has occurred, in which case investors will be fully exposed to the negative return of the lesser-performing index.
Deutsche Bank Securities Inc. is the agent.
| Issuer: | Deutsche Bank AG, London Branch
|
| Issue: | High/low coupon autocallable securities
|
| Underlying indexes: | S&P 500 and Russell 2000
|
| Amount: | $6,424,000
|
| Maturity: | Sept. 24, 2013
|
| Coupon: | 10.15% per year if knock-in event does not occur during that quarterly observation period; 1% per year for that quarter and each subsequent quarter if knock-in event does occur; payable semiannually
|
| Price: | Par
|
| Payout at maturity: | Par unless knock-in event occurs, in which case full exposure to negative return of lesser-performing index
|
| Call: | Automatically at par if both indexes close at or above initial levels on Dec. 18, 2012, March 19, 2013, June 18, 2013 or Sept. 19, 2013
|
| Knock-in event: | Either index closes below threshold level on any day during life of notes
|
| Initial index levels: | 1,459.32 for S&P 500 and 856.93 for Russell 2000
|
| Threshold level: | 1,094.49 for S&P 500 and 642.70 for Russell 2000; 75% of initial levels
|
| Pricing date: | Sept. 18
|
| Settlement date: | Sept. 21
|
| Agent: | Deutsche Bank Securities Inc.
|
| Fees: | None
|
| Cusip: | 2515A1LN9
|
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