Deutsche Bank plans airbag phoenix autocallables linked to HP

By Angela McDaniels

Tacoma, Wash., July 16 – Deutsche Bank AG, London Branch plans to price airbag phoenix autocallable optimization securities due Jan. 25, 2016 linked to the common stock of Hewlett-Packard Co., according to an FWP filing with the Securities and Exchange Commission.

Each month, the notes will pay a contingent coupon at the rate of 6% to 8% per year if Hewlett-Packard shares close at or above the coupon barrier, 80% of the initial share price, on the observation date for that month. The exact rate will be set at pricing.

The notes will be automatically called at par if Hewlett-Packard shares close at or above the initial share price on any autocall observation date, which occur quarterly.

If the notes are not called and the final price of Hewlett-Packard shares is greater than or equal to the conversion price, 85% of the initial share price, the payout at maturity will be par. Otherwise, investors will receive a number of Hewlett-Packard shares equal to $1,000 divided by the conversion price.

UBS Financial Services Inc. and Deutsche Bank Securities Inc. are the agents.

The notes will price July 18 and settle July 23.

The Cusip number is 25155V481.

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