Deutsche Bank to sell buffered return enhanced notes on currencies

New York, Feb. 9 - Deutsche Bank AG, London Branch plans to price 0% buffered return enhanced notes due Feb. 25, 2011 based on the performance of a long currency basket relative to a short currency basket, according to a 424B2 filing with the Securities and Exchange Commission.

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

The long basket contains equal weights of the Brazilian real, Turkish lira and Indonesian rupiah, and the short basket contains equal weights of the dollar and Japanese yen.

The long/short return will be the return of the long basket minus the return of the short basket.

The payout at maturity will be par plus at least 2.85 times any positive long/short return, up to a maximum return of at least 28.5%. The exact payout terms will be set at pricing.

Investors will receive par if the long/short return shows a decline of up to 10% and will lose 1.1111% for each 1% decline beyond 10%.

The notes will price on Feb. 12 and settle on Feb. 18.

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