Deutsche Bank plans high/low coupon autocallables linked to indexes

By Angela McDaniels

Tacoma, Wash., May 19 - Deutsche Bank AG, London Branch plans to price high/low coupon autocallable securities due May 26, 2015 linked to the Euro Stoxx 50 index and the Russell 2000 index, according to an FWP filing with the Securities and Exchange Commission.

A knock-in event occurs if either index closes below its threshold level, 70% of its initial level, on any day during the life of the notes.

Each quarter, the notes will pay a coupon at the rate of 6% to 7.5% per year if a knock-in event does not occur during the observation period for that quarter. If a knock-in event occurs during the observation period, the coupon for that interest period and each subsequent interest period will be 1% per year. The exact coupon will be set at pricing.

The notes will be called at par if both indexes close at or above their initial levels on any quarterly observation date.

If the notes are not called, the payout at maturity will be par unless a knock-in event has occurred, in which case investors will be fully exposed to the negative return of the lesser-performing index.

Deutsche Bank Securities Inc. is the agent.

The notes are expected to price May 20 and settle May 23.

The Cusip number is 25152RKF9.

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