Deutsche Bank to price leveraged upside securities linked to DB X-Alpha USD Excess Return index

By E. Janene Geiss

Philadelphia, May 19 - Deutsche Bank AG, London Branch plans to price 0% leveraged upside securities due Nov. 23, 2009 linked to the Deutsche Bank X-Alpha USD Excess Return index, according to an FWP filing with the Securities and Exchange Commission.

If the final index level is at least the initial level, the payout at maturity will be par plus 120% to 130% of the return on the index. The exact participation rate will be set at pricing.

Otherwise, the payout will be par times the index performance.

The notes are expected to price May 20 and settle May 23.

Deutsche Bank Securities Inc. and Deutsche Bank Trust Co. Americas are the underwriters.

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