Deutsche ups coupon, extends dates on phoenix autocallable securities linked to iShares MSCI EM fund

By Toni Weeks

San Luis Obispo, Calif., Dec. 31 – Deutsche Bank AG, London Branch increased the coupon and changed the dates for its upcoming offering of phoenix autocallable securities linked to the iShares MSCI Emerging Markets exchange-traded fund, according to an FWP with the Securities and Exchange Commission.

The notes will now mature Feb. 2, 2017, previously Jan. 5, 2017. They are expected to price Jan. 29 and settle Feb. 3 instead of Dec. 30 and Jan. 5, respectively.

In addition, if the fund closes at or above the barrier level, 85% of the initial fund price, on a semiannual observation date, the notes will now pay a contingent coupon at an annualized rate of 7.3% to 9.3%. Initially the coupon was announced as 5.9% to 7.9%.

As previously noted, 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 Cusip number is 25152RKP7.

Deutsche Bank Securities Inc. is the agent.

© 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.