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Deutsche Bank plans knock-out notes linked to currencies via JPMorgan
By Susanna Moon
Chicago, March 2 - Deutsche Bank AG, London Branch plans to price 0% knock-out notes due March 22, 2011 based on the performance of an equally weighted currency basket 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 underlying currencies are the Brazilian real, South African rand, Indonesian rupiah and Korean won.
A knock-out event will occur if the basket falls by more than 35% on any trading day during the life of the notes.
If a knock-out event does not occur, the payout at maturity will be par plus any basket gain, with a floor of par.
If a knock-out event does occur, investors will receive par plus the basket return with exposure to any losses.
The notes are expected to price on March 4 and settle on March 10.
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