Deutsche Bank plans to price phoenix autocallables on Bank of America

By Marisa Wong

Madison, Wis., Oct. 1 – Deutsche Bank AG, London Branch plans to price phoenix autocallable securities due Oct. 21, 2015 linked to the common stock of Bank of America Corp., according to an FWP filing with the Securities and Exchange Commission.

If Bank of America stock closes at or above the barrier price – 85% of the initial share price – on a quarterly observation date, the issuer will pay a contingent coupon for that quarter at the rate of 11.2% per year. Otherwise, no coupon will be paid that quarter.

If the shares close at or above the initial price on a quarterly observation date, the notes will be called at par plus the contingent coupon.

If the notes are not called and Bank of America shares finish at or above the 85% trigger price, the payout at maturity will be par plus the contingent coupon. Otherwise, investors will be exposed to the share price decline from the initial price.

JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC are the placement agents.

The securities will price Oct. 3 and settle Oct. 8.

The Cusip number is 25152RRD7.

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