By Jennifer Chiou
New York, Feb. 21 - Deutsche Bank AG, London Branch priced a $5.5 million offering of CMS (constant maturity swap) spread range notes due Feb. 22, 2022, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay 8% interest for the first year.
After the first year, the interest payment will be a base interest rate multiplied by the proportion of days on which the 30-year CMS rate is higher than the two-year CMS rate. The base rate will be 8% for years two through five, 10% for years six through 10 and 15% thereafter.
Interest will be payable quarterly.
The notes will be callable at par on any interest payment date beginning Feb. 22, 2008.
| Issuer: | Deutsche Bank AG, London Branch
|
| Issue: | CMS spread range notes
|
| Amount: | $5.5 million
|
| Maturity: | Feb. 22, 2022
|
| Interest rate: | 8% interest for the first year; after the first year, the interest payment will be a base interest rate multiplied by the proportion of days on which the 30-year CMS rate is higher than the two-year CMS rate
|
| Base rate: | 8% for years two through five, 10% for years six through 10; 15% thereafter
|
| Price: | Par
|
| Call: | On interest payment dates beginning Feb. 22, 2008 at par
|
| Pricing date: | Feb. 16
|
| Settlement date: | Feb. 22
|
| Agents: | Deutsche Bank Securities Inc., Deutsche Bank Trust Co. Americas
|
| Agent fees: | None
|
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