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Deutsche plans 7%-9% airbag yield notes linked to U.S. Steel stock
By Jennifer Chiou
New York, Nov. 7 - Deutsche Bank AG, London Branch plans to price 7% to 9% annualized airbag yield optimization notes due May 15, 2013 linked to United States Steel Corp. shares, according to an FWP with the Securities and Exchange Commission.
Interest will be payable monthly.
The payout at maturity will be par unless the final share price is less than 75% conversion level, in which case the payout will be a number of U.S. Steel shares equal to $1,000 divided by the conversion price.
The notes (Cusip: 25154S844) are expected to price on Nov. 9 and settle on Nov. 15.
UBS Financial Services Inc. and Deutsche Bank Securities are the underwriters.
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