Deutsche Bank plans phoenix autocallable securities on Gilead Sciences

By Jennifer Chiou

New York, Dec. 4 - Deutsche Bank AG, London Branch plans to price phoenix autocallable notes due Dec. 24, 2014 linked to the common stock of Gilead Sciences, Inc., according to an FWP with the Securities and Exchange Commission.

If Gilead Sciences stock closes at or above the barrier level, 75% of the initial share price, on a quarterly observation date, the notes will pay a contingent coupon at an annualized rate of 14.2% for that quarter.

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

If the notes are not called and Gilead Sciences shares finish at or above the barrier level, the payout at maturity will be par plus the contingent coupon. Otherwise, investors will be fully exposed to the share price decline.

The notes (Cusip: 25152RGE7) are expected to price on Dec. 6 and settle on Dec. 11.

J.P. Morgan Securities LLC is the agent.

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