Deutsche Bank changes dates for phoenix autocallables on iShares EM

By Toni Weeks

San Luis Obispo, Calif., Aug. 29 – Deutsche Bank AG, London Branch changed the maturity, pricing and settlement dates for its upcoming issue of 0% phoenix autocallable securities linked to the iShares MSCI Emerging Markets exchange-traded fund, according to an FWP filing with the Securities and Exchange Commission.

The notes will now mature on Oct. 5, 2016, pushed out from Sept. 1, 2016.

In addition, the notes will price Sept. 30 and settle Oct. 3. Previously they were expected to price and settle Aug. 28 and Sept. 3, respectively.

The notes will pay a contingent semiannual coupon at an annual rate of 6% to 7% if the fund closes at or above the barrier level, 85% of the initial share price, on the observation date for that semiannual interest period.

The notes will be called at par plus the contingent coupon if the fund closes at or above the initial share price on any semiannual observation date.

If the notes are not called, the payout at maturity will be par plus the contingent coupon unless the shares finish below the barrier level, in which case investors will lose 1.17647% for every 1% decline beyond 15%.

Deutsche Bank Securities Inc. is the agent.

The notes (Cusip: 25152RKP7) are expected to price Sept. 30 and settle Oct. 3.

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