Deutsche to price trigger phoenix autocallables linked to Merck

By Jennifer Chiou

New York, Oct. 14 – Deutsche Bank AG, London Branch plans to price trigger phoenix autocallable optimization securities due Oct. 22, 2019 linked to the common stock of Merck & Co., Inc., according to an FWP with the Securities and Exchange Commission.

If Merck stock closes at or above the trigger price on a monthly observation date, the issuer will pay a contingent coupon for that month at the rate of 7% per year. Otherwise, no coupon will be paid that month. The trigger price is expected to be 70% to 75% of the initial share price and will be set at pricing.

Beginning a year after issuance, the notes will be called at par of $10 plus the contingent coupon if the shares close at or above the initial price on any monthly observation date.

If the notes are not called and Merck shares finish at or above the trigger price, the payout at maturity will be par plus the contingent coupon. Otherwise, investors will be exposed to the share price decline from the initial price.

The notes (Cusip: 25157U440) will price on Oct. 17 and settle on Oct. 22.

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

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.