Deutsche Bank to price knock-out notes tied to basket of stocks, ADRs

By Marisa Wong

Madison, Wis., Jan. 4 - Deutsche Bank AG, London Branch plans to price 0% knock-out notes due July 15, 2013 linked to an equally weighted basket of 15 stocks, according to an FWP filing with the Securities and Exchange Commission.

The basket is comprised of the common stocks of Apple Inc., Deere & Co., Google Inc., PepsiCo, Inc., Pfizer Inc., Philip Morris International Inc. and Yum! Brands, Inc. and the American Depositary Shares of Anheuser-Busch InBev SA/NV, BHP Billiton Ltd., BP plc, HSBC Holdings plc, Siemens Aktiengesellschaft, Total SA, Unilever plc and Vodafone Group plc.

A knock-out event occurs if the basket level falls by more than 20.3% from the initial level on the final valuation day.

If a knock-out event does not occur, the payout at maturity will be par plus the greater of the basket return a contingent minimum return of at least 3%. The exact contingent minimum return will be determined at pricing.

If a knock-out event occurs, the payout at maturity will be par plus the basket return, with full exposure to losses.

The notes (Cusip: 2515A1G39) are expected to price Jan. 6 and settle Jan. 11.

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

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