Deutsche Bank plans trigger phoenix autocallables tied to Walgreen

By Marisa Wong

Madison, Wis., Sept. 10 – Deutsche Bank AG, London Branch plans to price trigger phoenix autocallable optimization securities due Sept. 18, 2019 linked to Walgreen Co. shares, according to an FWP filing with the Securities and Exchange Commission.

The notes will pay a contingent monthly coupon at an annual rate of 7% if the stock price on any monthly observation date is equal to or greater than the coupon barrier, 75% to 79% of the initial share price. Interest is payable monthly.

The notes will be called at par if Walgreen shares close at or above the initial share price on any monthly observation date after one year.

If the notes are not called, the payout at maturity will be par if the final share price is equal to or greater than the 75% to 79% trigger price.

If the final price is less than the trigger price, investors will be fully exposed to the decline in the stock price from the initial share price.

The exact terms will be set at pricing.

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

The notes will price on Sept. 12 and settle on Sept. 17.

The Cusip number is 25157U762.

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