Deutsche Bank plans trigger phoenix autocallable notes tied to Oracle

By Susanna Moon

Chicago, May 23 - Deutsche Bank AG, London Branch plans to price trigger phoenix autocallable optimization securities due May 31, 2013 linked to Oracle Corp. shares, according to an FWP filing with the Securities and Exchange Commission.

If Oracle stock closes at or above the 75% trigger level on a quarterly observation date, the issuer will pay a contingent coupon at an annualized rate of 10.7% to 13.7% for that quarter. The exact rate will be set at pricing.

If the shares close at or above the initial price on a quarterly observation date, the notes will be called at par of $10 plus the contingent coupon.

If the notes are not called and Oracle shares finish at or above the trigger price, the payout at maturity will be par plus the contingent coupon.

Otherwise, investors will be fully exposed to any losses.

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

The notes will price on May 29 and settle on May 31.

The Cusip number is 25154X819.

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