Deutsche Bank plans 12% reverse exchangeables linked to Australian dollar vs. Japanese yen

By Angela McDaniels

Tacoma, Wash., Oct. 14 - Deutsche Bank AG, London Branch plans to price reverse exchangeable securities due Jan. 21, 2010 linked to the performance of the Australian dollar relative to the Japanese yen, according to an FWP filing with the Securities and Exchange Commission.

JPMorgan Chase Bank, NA and J.P. Morgan Securities Inc. are the agents.

The three-month notes will pay 3% for an annualized coupon of 12%. Interest is payable at maturity.

If the spot rate of the Australian dollar/Japanese yen exchange rate is greater than or equal to the threshold level throughout the life of the notes, the payout at maturity will be par. Otherwise, investors will receive par plus the percentage change in the spot rate, subject to a maximum payout of par.

The threshold level will equal the initial spot rate divided by 1.05.

The notes are expected to price Oct. 16 and settle Oct. 21.

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