Deutsche Bank to price trigger phoenix autocallables linked to Centene

By Angela McDaniels

Tacoma, Wash., Nov. 20 - Deutsche Bank AG, London Branch plans to price trigger phoenix autocallable optimization securities due May 29, 2015 linked to the common stock of Centene Corp., according to an FWP filing with the Securities and Exchange Commission.

If Centene stock closes at or above the trigger price, 75% of the initial share price, on a quarterly observation date, the issuer will pay a contingent coupon for that quarter at the rate of 10% to 13% per year. Otherwise, no coupon will be paid that quarter. The exact contingent coupon rate will be set at pricing.

If the shares close at or above the initial price on a quarterly observation date, the notes will be called at par of $10 plus the contingent coupon.

If the notes are not called and Centene shares finish at or above the trigger price, the payout at maturity will be par plus the contingent coupon. Otherwise, investors will be exposed to the share price decline from the initial price.

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

The notes will price Nov. 26 and settle Nov. 29.

The Cusip number is 25155G799.

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