Deutsche Bank to price phoenix autocallables linked to Apple stock

By Tali Rackner

Minneapolis, Aug. 24 – Deutsche Bank AG, London Branch plans to price phoenix autocallable securities due Sept. 12, 2018 linked to the common stock of Apple Inc., 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 Apple stock closes at or above the coupon barrier, 77.5% of the initial 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 index level on any observation date.

The payout at maturity will be par unless Apple shares finish below the 77.5% trigger price, in which case investors will be exposed to the stock’s decline from its initial level.

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

The notes will price on Aug. 25 and settle on Aug. 30.

The Cusip number is 25155MDK4.

© 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.