Deutsche plans market-linked step-up autocallables on oil & gas index

By Marisa Wong

Madison, Wis., April 28 – Deutsche Bank AG, London Branch plans to price 0% autocallable market-linked step-up notes due May 2017 linked to the S&P Oil & Gas Exploration & Production Select Industry index, according to an FWP with the Securities and Exchange Commission.

The notes will be called at par of $10 plus a call premium of 12% to 14% if the index closes at or above the initial level on the call observation date in May 2016.

If the index finishes above the step-up level, 130% of the initial level, the payout at maturity will be par of $10 plus the index gain.

If the index gains by up to the step-up level, the payout at maturity will be par of $10 plus the step-up payment of 30%.

Investors will be exposed to any losses.

The notes will price in May and settle in June.

BofA Merrill Lynch is the agent.

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