Deutsche plans phoenix autocallables on least of three tech stocks

By Wendy Van Sickle

Columbus, Ohio, Nov. 16 – Deutsche Bank AG, London Branch plans to price phoenix autocallable securities due Nov. 25, 2016 linked to the least performing of the common stocks of Amazon.com, Inc., Microsoft Corp. and Google, Inc., according to an FWP filed with the Securities and Exchange Commission.

Each quarter, the notes pay a contingent coupon at the rate of 17% per year if each stock closes at or above its coupon barrier level, 75% of its initial level, on the observation date for that quarter.

The notes will be called at par if each stock closes at or above its initial level on any quarterly observation date.

If the notes are not called and the least performing stock finishes at or above its trigger level, 75% of its initial level, the payout at maturity will be par plus the final contingent coupon, if any. Otherwise, investors will be fully exposed to the decline of the poorest performing stock.

Deutsche Bank Securities Inc. is the agent.

The securities will price on Nov. 20 and settle on Nov. 25.

The Cusip number is 25152RU27.

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