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Deutsche plans trigger phoenix autocallables on SPDR S&P Oil & Gas
By Jennifer Chiou
New York, Oct. 26 - Deutsche Bank AG, London Branch plans to price trigger phoenix autocallable optimization securities due Oct. 31, 2017 linked to the SPDR S&P Oil & Gas Exploration and Production exchange-traded fund, according to an FWP with the Securities and Exchange Commission.
If the share price finishes at or above the to-be-set trigger price - 63.75% to 66.75% of the initial share price - on any monthly observation date, the issuer will pay a contingent coupon of 9%. Otherwise, no coupon will be paid for that month.
If the fund closes at or above the initial price on any observation date after one year, the notes will be called at par of $10 plus the contingent coupon.
If the notes are not called and the shares finish at or above the trigger price, the payout at maturity will be par plus the contingent coupon. Investors will be exposed to any losses.
The notes (Cusip: 25154S802) are expected to price on Oct. 29 and settle on Oct. 31.
UBS Financial Services Inc. and Deutsche Bank Securities Inc. are the agents.
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