Deutsche Bank plans to price phoenix autocallables linked to oil

By Angela McDaniels

Tacoma, Wash., Jan. 14 – Deutsche Bank AG, London Branch plans to price phoenix autocallable securities due July 20, 2016 linked to the performance of West Texas Intermediate crude oil futures contracts, according to an FWP filing with the Securities and Exchange Commission.

Each quarter, the notes will pay a contingent coupon at the rate of 13.5% per year if the contract price is greater than or equal to the coupon barrier, 80% of the initial contract price, on the observation date for that quarter. Otherwise, no coupon will be paid for that quarter.

The notes will be called at par plus the contingent coupon if the contract price is greater than or equal to the initial price on any quarterly observation date.

If the notes are not called and the final contract price is greater than or equal to the trigger price, 80% of the initial contract price, the payout at maturity will be par plus the contingent coupon. Otherwise, investors will lose 1% for every 1% decline in the contract price.

JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC are the agents.

The notes will price Jan. 15.

The Cusip number is 25152RZC0.

© 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.