Deutsche plans 7.25%-9.75% airbag autocallables on Palo Alto Networks

By Jennifer Chiou

New York, April 24 - Deutsche Bank AG, London Branch plans to price 7.25% to 9.75% airbag autocallable yield optimization notes due April 30, 2015 linked to the common stock of Palo Alto Networks, Inc., according to an FWP with the Securities and Exchange Commission.

Interest will be payable monthly. The exact interest rate will be set at pricing.

The notes will be automatically called at par if the closing share price is greater than or equal to the initial share price on any quarterly observation date beginning on July 29.

The payout at maturity will be par unless the final share price is less than the conversion price, in which case the payout will be a number of Palo Alto Networks shares equal to $1,000 divided by the conversion price. The conversion price will be 75% of the initial share price.

The notes (Cusip: 25155Q581) are expected to price on April 28 and settle on April 30.

UBS Financial Services Inc. and Deutsche Bank Securities LLC are the underwriters.

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