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Deutsche Bank to price 7%-9.25% airbag notes linked to Steel Dynamics
By Angela McDaniels
Tacoma, Wash., March 20 - Deutsche Bank AG, London Branch plans to price 7% to 9.25% annualized airbag yield optimization notes due Sept. 28, 2012 linked to the common stock of Steel Dynamics, Inc., according to an FWP filing with the Securities and Exchange Commission.
Interest will be payable monthly. The exact coupon will be set at pricing.
The payout at maturity will be par unless the final share price is less than the conversion price, in which case the payout will be a number of Steel Dynamics shares equal to $1,000 divided by the conversion price. The conversion price will be 85% of the initial share price.
The notes (Cusip: 25154V623) will price March 22 and settle March 30.
UBS Financial Services Inc. and Deutsche Bank Securities Inc. are the underwriters.
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