Deutsche plans phoenix autocallable securities on iShares MSCI EM fund

By Jennifer Chiou

New York, Dec. 2 – Deutsche Bank AG, London Branch plans to price phoenix autocallable securities due Jan. 5, 2017 linked to the iShares MSCI Emerging Markets exchange-traded fund, according to an FWP with the Securities and Exchange Commission.

If the fund closes at or above the barrier level, 85% of the initial fund price, on a semiannual observation date, the notes will pay a contingent coupon at an annualized rate of 2.95% to 3.95% for that quarter.

If the fund closes at or above the initial price on any observation date, the notes will be called at par plus the contingent coupon.

If the notes are not called and the fund finishes at or above the barrier level, the payout at maturity will be par plus the contingent coupon. Otherwise, investors will be exposed to the decline at a rate of 1.17647% per 1% loss beyond the barrier.

The notes (Cusip: 25152RKP7) will price on Dec. 30 and settle on Jan. 5.

Deutsche Bank Securities Inc. is the agent.

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