Deutsche Bank plans trigger phoenix autocallables tied to Russell, S&P

By Angela McDaniels

Tacoma, Wash., Nov. 18 – Deutsche Bank AG, London Branch plans to price trigger phoenix autocallable optimization securities due Nov. 30, 2018 linked to the lesser performing of the Russell 2000 index and the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.

Each quarter, the notes will pay a contingent coupon if each index closes at or above its barrier level, 70% of its initial level, on the observation date for that quarter. The contingent coupon rate is expected to be 7.4% to 8.25% per year and will be set at pricing.

After six months, the notes will be called at par of $10 plus the contingent coupon if each index closes at or above its initial level on any quarterly observation date.

If the notes are not called and each index finishes at or above its barrier level, the payout at maturity will be par plus the final contingent coupon. Otherwise, investors will be fully exposed to the decline of the lesser-performing index.

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

The notes will price Nov. 25.

The Cusip number is 25190F459.

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