Deutsche to price trigger phoenix autocallables linked to Corning

By Jennifer Chiou

New York, May 24 - Deutsche Bank AG, London Branch plans to price trigger phoenix autocallable optimization securities due May 31, 2018 linked to the common stock of Corning Inc., according to an FWP with the Securities and Exchange Commission.

If the price of Corning stock closes at or above the trigger price - 70% to 72% of the initial share price - on any monthly observation date, the issuer will pay an annualized contingent coupon of 10.2% to 13.2%. Otherwise, no coupon will be paid for that month. The exact coupon will be set at pricing. Interest is payable monthly.

If the share price is greater than or equal to the initial price on any of the monthly observation dates, the notes will be called at par of $10 plus the contingent coupon.

If the notes are not called and the Corning share price finishes at or above the trigger price, the payout at maturity will be par plus the contingent coupon. Otherwise, investors will be fully exposed to the share price decline.

The notes (Cusip: 25155H482) are expected to price on May 29 and settle on May 31.

UBS Financial Services Inc. and Deutsche Bank Securities Inc. are the agents.

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