It's unlikely Rangers give up their 1st Round pick. However, I think Francis will shoot for equivalent, if not better value by plumping for a 2nd and a strong prospect.
LW is a position of strength in the Rangers pipeline and they could easily part with one to get this deal done.
Othmann is likely not who they'd want to let go of, but two things bump up the Prospect quality Seattle seek; the cap rentention as it gives NYR space to make another move before the deadline, and the Avs waiting in the wings armed with a 1st that they don't mind moving.

Ranger aren't looking to move Othmann for a rental. They'd be more likely to move their 1st. I think they can do better than Wennberg 50% retained for their 1st rounder.