Deutsche Bank to price callable yield securities linked to Petrobras

By Angela McDaniels

Tacoma, Wash., July 21 – Deutsche Bank AG, London Branch plans to price callable yield securities due July 28, 2016 linked to the American Depositary Shares of Petroleo Brasileiro SA, according to an FWP filing with the Securities and Exchange Commission.

Each quarter, the notes will pay a contingent coupon if Petrobras shares close at or above the coupon barrier, 65% of the initial share price, on the observation date for that quarter. The contingent coupon rate is expected to be at least 12.25% per year and will be set at pricing.

The notes will be callable at par on any interest payment date.

If the notes are not called and the final share price is greater than or equal to the trigger price, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% that the final share price is less than the initial share price.

Deutsche Bank Securities Inc. is the agent.

The notes will price July 23 and settle July 28.

The Cusip number is 25152RML4.

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