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Deutsche Bank plans trigger phoenix autocallables linked to Vodafone
By Susanna Moon
Chicago, March 3 - Deutsche Bank AG, London Branch plans to price trigger phoenix autocallable optimization securities due March 13, 2019 linked to American Depositary Shares of Vodafone Group plc, according to an FWP filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annual rate of 8% if Vodafone stock closes at or above the trigger price, 70% to 75% of the initial share price, on an observation date for that month. The exact trigger price will be set at pricing.
The notes will be called at par of $10 plus the contingent coupon if the shares close at or above the initial price on any monthly observation date after one year.
If the notes are not called and Vodafone shares finish at or above the trigger price, the payout at maturity will be par plus the contingent coupon.
Otherwise, investors will be fully exposed to any losses.
UBS Financial Services Inc. and Deutsche Bank Securities Inc. are the underwriters.
The notes will price on March 7 and settle on March 12.
The Cusip number is 25155P252.
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