Deutsche Bank to price alpha overlay securities tied to two indexes

By Jennifer Chiou

New York, Dec. 21 - Deutsche Bank AG, London Branch plans to price 0% alpha overlay securities due Fec. 17, 2012 linked to a basket holding the Deutsche Bank Commodity Booster-Dow Jones-UBS 14 TV Index Excess Return and the Deutsche Bank Commodity Harvest-10 Index USD Total Return, according to an FWP with the Securities and Exchange Commission.

The basket level on any day equals 100 plus the index returns on that day and minus the adjustment factor, which is a flat 0.5% plus an additional 2.5% per year.

The payout at maturity will be par plus the basket return, which could be positive or negative.

The notes will be called if the unadjusted basket level - the basket level before the application of the adjustment factor - falls below 40. Investors will receive par plus the basket return calculated on the day after the basket falls below 40.

The notes (Cusip: 2515A12L4) are expected to price on Jan. 14 and settle on Jan. 20.

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

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