Deutsche plans buffered return enhanced notes tied to currency basket

By Toni Weeks

San Diego, May 9 - Deutsche Bank AG, London Branch plans to price buffered return enhanced notes due Nov. 16, 2012 linked to a basket of currencies relative to the dollar, according to an FWP filing with the Securities and Exchange Commission.

The equally weighted basket components are the Indonesian rupiah, the Malaysian ringgit and the Singapore dollar.

The payout at maturity will be at least 1.61 times any gain in the basket, subject to a maximum total payment of $2,610 per $1,000 note. The exact upside leverage factor will be set at pricing.

Investors will receive par if the basket falls by up to 5% and will lose 1.0526% for every 1% decline in the basket beyond 5%.

The notes (Cusip: 2515A16N6) are expected to price May 13 and settle May 18.

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

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