Deutsche Bank plans trigger phoenix autocallables on Silver Wheaton

By Susanna Moon

Chicago, May 13 – Deutsche Bank AG, London Branch plans to price trigger phoenix autocallable optimization securities due Nov. 21, 2016 linked to Silver Wheaton Corp. shares, according to an FWP filing with the Securities and Exchange Commission.

If the stock closes at or above the coupon barrier level – 70% of the initial price – on any quarterly observation date, the notes will pay a contingent coupon at an annualized rate of 11.5% to 13.5% for that quarter.

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

If the shares finish at or above the 70% trigger level, the payout at maturity will be par plus the contingent coupon.

Otherwise, investors will be fully exposed to any losses.

The exact terms will be set at pricing.

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

The notes will price on May 15 and settle on May 20.

The Cusip number is 25190H588.

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