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Deutsche Bank plans phoenix autocallables linked to Home Depot
By Angela McDaniels
Tacoma, Wash., Sept. 10 – Deutsche Bank AG, London Branch plans to price phoenix autocallable securities due Sept. 28, 2016 linked to the common stock of Home Depot, 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 13.4% per year if Home Depot shares close at or above the barrier price, 85% 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 barrier 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.
JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC are the agents.
The notes are expected to price Sept. 11 and settle Sept. 16.
The Cusip number is 25152RQ22.
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