Deutsche Bank to price phoenix autocallables linked to Biogen Idec

By Angela McDaniels

Tacoma, Wash., July 22 – Deutsche Bank AG, London Branch plans to price phoenix autocallable notes due Aug. 12, 2015 linked to the common stock of Biogen Idec Inc., according to an FWP filing with the Securities and Exchange Commission.

Each quarter, the notes will pay a contingent coupon at the rate of 12.8% per year if Biogen Idec shares close at or above the trigger price, 75% of the initial share price, on the observation date for that quarter. Otherwise, no coupon will be paid for that quarter.

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

If the notes are not called and the shares finish at or above the trigger price, the payout at maturity will be par plus the contingent coupon. Otherwise, investors will lose 1% for every 1% that the final share price is less than the initial share price.

The final share price will be the average of the closing share prices on the five trading days ending Aug. 7, 2015.

J.P. Morgan Securities LLC is the agent.

The notes are expected to price July 25 and settle July 30.

The Cusip number is 25152RMV2.

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