Deutsche Bank plans trigger phoenix autocallables linked to Microsoft

By Toni Weeks

San Luis Obispo, Calif., Feb. 27 - Deutsche Bank AG, London Branch plans to price trigger phoenix autocallable optimization securities due March 7, 2018 linked to the common stock of Microsoft Corp., according to an FWP filing with the Securities and Exchange Commission.

If the price of Microsoft stock closes at or above the trigger price - 70% to 75% of the initial share price - on any monthly observation date, the issuer will pay a contingent coupon of 7% 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 monthly 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 Microsoft 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: 25154X124) are expected to price March 1 and settle March 6.

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

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