Deutsche Bank plans trigger phoenix notes on Euro Stoxx, S&P 500

By Marisa Wong

Madison, Wis., Feb. 4 - Deutsche Bank AG, London Branch plans to price trigger phoenix autocallable optimization securities due Feb. 22, 2018 linked to the Euro Stoxx 50 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

If each index closes at or above the trigger level, 65% to 70% of the initial level, on any quarterly observation date, the notes will pay a contingent coupon of 8% per year for that quarter. Otherwise, no coupon will be paid that quarter.

If both indexes close at or above their initial levels on any quarterly observation date after one year, the notes will be called at par of $10 plus the contingent coupon.

If the notes are not called, the payout at maturity will be par plus the contingent coupon unless either index finishes below the trigger level, in which case investors will be fully exposed to the decline of the lesser-performing index.

UBS Financial Services Inc. and UBS Investment Bank are the underwriters.

The notes are expected to price Feb. 15 and settle Feb. 21.

The Cusip number is 25154S299.

© 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.