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Deutsche plans trigger step performance securities on BRIC currencies
By Marisa Wong
Madison, Wis., Jan. 27 - Deutsche Bank AG, London Branch plans to price 0% trigger step performance securities due Feb. 28, 2013 tied to the Brazilian real, Russian ruble, Indian rupee and Chinese renminbi, equally weighted relative to the dollar, according to an FWP filing with the Securities and Exchange Commission.
If the basket return is zero or positive, the payout at maturity will be par plus the greater of the basket return and a step return of 18% to 23% that will be set at pricing.
If the basket falls against the dollar by up to 15%, investors will receive par. Investors will share fully in losses if the basket declines beyond the trigger level.
The notes (Cusip: 25154P451) will price on Feb. 23 and settle on Feb. 28.
UBS Financial Services Inc. and Deutsche Bank Securities Inc. are the agents.
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