Deutsche Bank plans absolute return knock-out notes linked to Apple

By Marisa Wong

Madison, Wis., April 10 - Deutsche Bank AG, London Branch plans to price 0% capped absolute return knock-out notes due May 1, 2013 linked to the common stock of Apple Inc., according to an FWP filing with the Securities and Exchange Commission.

A knock-out event will occur if the final share price is less than the initial price by more than the knock-out buffer, which is expected to be at least 20% and will be set at pricing.

If a knock-out event has occurred, investors will be fully exposed to the stock price decline.

If a knock-out event has not occurred and the final share price is less than the initial price, the payout will be par plus the absolute value of the return.

If a knock-out event has not occurred and the final price is greater than the initial price, the payout will be par plus the lesser of the stock return and the upside maximum return, which is expected to be at least 22% and will be set at pricing.

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

The notes (Cusip: 2515A1JC6) are expected to price April 13 and settle April 18.

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