Deutsche Bank to price trigger phoenix autocallables linked to Apple

By Toni Weeks

San Diego, Dec. 21 - Deutsche Bank AG, London Branch plans to price trigger phoenix autocallable optimization securities due Dec. 29, 2017 linked to the common stock of Apple Inc., according to an FWP filing with the Securities and Exchange Commission.

If the price of Apple stock closes at or above the trigger price - 64% to 69% of the initial share price - on any monthly observation date, the issuer will pay a contingent coupon of 10% per year. Otherwise, no coupon will be paid for that month. The exact trigger price will be set at pricing. Interest is payable monthly.

If the share price is greater than or equal to the initial price on any of the observation dates after one year, the notes will be called at par of $10 plus the contingent coupon.

If the notes are not called and the Apple share price finishes at or above the trigger price, the payout at maturity will be par plus the contingent coupon. Otherwise, investors will be exposed to any share price decline.

The notes (Cusip: 25154S398) are expected to price Dec. 27 and settle Dec. 31.

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

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