Deutsche plans 7.1%-9.1% airbag autocallables tied to Cummins

By Jennifer Chiou

New York, Nov. 21 - Deutsche Bank AG, London Branch plans to price 7.1% to 9.1% airbag autocallable yield optimization notes due Dec. 6, 2013 linked to Cummins Inc. shares, according to an FWP with the Securities and Exchange Commission.

Interest will be payable monthly.

The notes will be called at par plus accrued interest if Cummins stock closes at or above the initial share price on any review date.

If the notes are not called, the payout at maturity will be par unless the final share price is less than the 85% conversion level, in which case the payout will be a number of Cummins shares equal to $1,000 divided by the conversion price.

The notes (Cusip: 25154S760) are expected to price on Nov. 28 and settle on Nov. 30.

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

© 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.