Deutsche Bank plans 0% Dynamic Tracker Notes linked to Dow Industrials

By Angela McDaniels

Seattle, Jan. 17 - Deutsche Bank AG, London Branch plans to price an offering of 0% Dynamic Tracker Notes due Jan. 31, 2012 linked to the Dow Jones Industrial Average, according to an FWP filing with the Securities and Exchange Commission.

The notes are expected to price on Jan. 26 and settle on Jan. 31.

The payout at maturity will be determined based on the performance of the index:

• If the final index level is greater than the initial index level, the payout will be par plus 120% of the positive index return;

• If the final index level is equal to the initial index level, the payout will be par;

• If the final index level is less than the initial index level, the payout will be par unless the index closed below the trigger level during the life of the notes, in which case investors will be fully exposed to the decline in the index. The trigger level will equal 65% of the initial index level.

Deutsche Bank Securities and Deutsche Bank Trust Co. Americas will be the agents.

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