Deutsche Bank to price 98% principal-protected notes linked to BRIC currencies via JPMorgan

By Angela McDaniels

Tacoma, Wash., June 15 - Deutsche Bank AG, London Branch plans to price zero-coupon 98% principal-protected notes due June 24, 2011 linked to a basket of currencies, 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 basket includes equal weights of the Brazilian real, Russian ruble, Indian rupee and Chinese renminbi.

The payout at maturity will be 98% of par plus at least 163% of any basket appreciation relative to the U.S. dollar. The basket appreciation will be capped at 15%, and the exact participation rate will be set at pricing.

If the basket depreciates relative to the U.S. dollar, the payout will be 98% of par.

The notes are expected to price June 19 and settle June 24.

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