Deutsche Bank plans high/low coupon autocallables tied to S&P, Russell

By Angela McDaniels

Tacoma, Wash., Sept. 5 - Deutsche Bank AG, London Branch plans to price high/low coupon autocallable securities due Sept. 19, 2013 linked to the S&P 500 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, 75% of its initial level, on any day during the life of the notes.

If a knock-in event does not occur during a quarterly observation period, the coupon is expected to be 8.5% to 14% per year for that period. If a knock-in event occurs during a quarterly observation period, the coupon for that interest period and each subsequent interest period will be 1% per year. Interest will be paid on the third business day after March 13, 2013 and at maturity.

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.

The notes are expected to price Sept. 13 and settle Sept. 18.

Deutsche Bank Securities Inc. is the agent.

The Cusip number is 2515A1LN9.

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