Deutsche Bank plans to price capped knock-out notes linked to gold

By Angela McDaniels

Tacoma, Wash., Oct. 12 - Deutsche Bank AG, London Branch plans to price 0% capped knock-out notes due Oct. 26, 2011 linked to the price of gold, according to an FWP filing with the Securities and Exchange Commission.

If the price of gold falls below the knock-out price - expected to be 80% or less of the initial price - during the life of the notes, the payout at maturity will be par plus the gold return, which could be positive or negative.

If the price of gold remains at or above the knock-out price, the payout will be par plus the greater of the contingent minimum return and the gold return. The contingent minimum return is expected to be at least 5%.

In each case, the payout will be subject to a maximum return of at least 18%.

The exact terms will be set at pricing.

The notes (Cusip 2515A1AN1) are expected to price Oct. 15 and settle Oct. 20.

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

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