Deutsche Bank plans trigger phoenix autocallables linked to Macy's

By Marisa Wong

Madison, Wis., Oct. 23 - Deutsche Bank AG, London Branch plans to price trigger phoenix autocallable optimization securities due Oct. 31, 2018 linked to the common stock of Macy's, Inc., according to an FWP filing with the Securities and Exchange Commission.

The notes will pay a contingent monthly coupon at a rate of 8% per year if the closing price of Macy's stock is greater than or equal to the coupon barrier, 69% to 74% of the initial price, on the monthly observation date.

After one year, the notes will be called at par plus the contingent coupon if Macy's shares close at or above the initial share price on any monthly observation date.

If the notes are not called and Macy's shares finish at or above the trigger price, 69% to 74% of the initial share price, the payout at maturity will be par. Otherwise, investors will be exposed to the share price decline from the initial price.

The exact deal terms will be set at pricing.

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

The notes are expected to price Oct. 29 and settle Oct. 31.

The Cusip number is 25155L111.

© 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.