Deutsche Bank plans airbag phoenix autocallables linked to Genworth

By Angela McDaniels

Tacoma, Wash., Feb. 12 - Deutsche Bank AG, London Branch plans to price airbag phoenix autocallable optimization securities due Aug. 20, 2015 linked to the common stock of Genworth Financial, Inc., according to an FWP filing with the Securities and Exchange Commission.

Each month, the notes will pay a contingent coupon at the rate of 8.5% to 10.5% per year if Genworth shares close at or above the coupon barrier, 75% of the initial share price, on the observation date for that month. The exact contingent coupon rate will be set at pricing.

The notes will be automatically called at par if Genworth shares close at or above the initial share price on any autocall observation date, which occur quarterly.

If the notes are not called and the final price of Genworth shares is greater than or equal to the conversion price, 85% of the initial share price, then the payout at maturity will be par. Otherwise, investors will receive a number of Genworth shares equal to $1,000 divided by the conversion price.

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

The notes are expected to price Feb. 14 and settle Feb. 20.

The Cusip number is 25155G385.

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