Deutsche Bank plans contingent absolute return securities on Citigroup

By Toni Weeks

San Diego, May 15 - Deutsche Bank AG, London Branch plans to price 0% contingent absolute return autocallable optimization securities due May 28, 2013 linked to Citigroup Inc. shares, according to an FWP filing with the Securities and Exchange Commission.

If the stock closes at or above the initial share price on any quarterly observation date, the notes automatically will be called at par plus an annualized call return of 8.5% to 11.5% that will be set at pricing.

If the notes are not called and the stock closes at or above the trigger price - 60% of the initial share price - the payout at maturity will be par plus the absolute value of the stock return.

If the final share price is less than the trigger price, investors will be fully exposed to the stock decline.

The notes (Cusip: 25154V185) are expected to price May 18 and settle May 24.

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

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