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Deutsche plans autocallable notes tied to three currencies vs. yen
By Toni Weeks
San Diego, April 25 - Deutsche Bank AG, London Branch plans to price 0% autocallable securities due May 2, 2013 linked to a basket of three equally weighted currencies relative to the Japanese yen, according to an FWP filing with the Securities and Exchange Commission.
The underlying currencies are the Australian dollar, the Canadian dollar and the Norwegian krone.
The notes will be called at par plus an annualized call premium of 11.3% if the basket closes at or above the initial basket level on Oct. 28, April 27, 2012 or Oct. 29, 2012.
If the notes are not called and the final basket level is at least 90% of the initial level, the payout will be par. Investors will lose 1.1111% for every 1% that the basket declines beyond 10%.
The notes (Cusip: 2515A16A4) are expected to price on April 29 and settle on May 4.
JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC are the agents.
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