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Deutsche plans trigger autocallable securities tied to Apache via UBS
By Susanna Moon
Chicago, Feb. 18 - Deutsche Bank AG, London Branch plans to price 0% trigger autocallable optimization securities due March 1, 2012 based on the performance of Apache Corp. shares, according to an FWP with the Securities and Exchange Commission.
If Apache shares close at or above the initial share price on any of 12 monthly observation dates, the notes will be called at par of $10 plus an annualized call return of 14.25% to 17.25%. The exact call return will be set at pricing.
The payout at maturity will be par if Apache shares finish at or above 80% of the initial share price.
Otherwise, the payout will be par plus the stock return with exposure to losses.
The notes (Cusip 25154P121) are expected to price on Feb. 23 and settle on Feb. 28.
UBS Financial Services Inc. and Deutsche Bank Securities Inc. are the underwriters.
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