Deutsche Bank plans phoenix autocallables linked to Bank of America

New York, July 13 – Deutsche Bank AG, London Branch plans to price phoenix autocallable securities due Aug. 1, 2018 linked to the common stock of Bank of America Corp., according to a 424B2 filing with the Securities and Exchange Commission.

Each quarter, the notes will pay a contingent coupon at an annual rate of 10% if Bank of America shares close at or above the barrier price, 75.49% of the initial share price, on the observation date for that quarter.

The notes will be automatically called at par if the stock closes at or above the initial price on any quarterly observation date.

The payout at maturity will be par unless the stock finishes below the 75.49% trigger price, in which case investors will be exposed to the stock’s decline.

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

The notes will price on July 14 and settle on July 19.

The Cusip number is 25155MCK5.

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