Deutsche plans market contribution notes on Liquid Commodity Apex 14

By Marisa Wong

Madison, Wis., Nov. 21 - Deutsche Bank AG, London Branch plans to price 0% market contribution securities due Nov. 27, 2013 linked to the Deutsche Bank Liquid Commodity Apex 14 index, according to an FWP filing with the Securities and Exchange Commission.

The index seeks to achieve a target volatility of 14% in its base index. The base index, the Deutsche Bank Liquid Commodity Apex index, is designed to reflect the performance of a basket of three underlying commodity indexes - the Deutsche Bank Liquid Commodity Mean Reversion Enhanced index, the Deutsche Bank Liquid Commodity Momentum index and the Deutsche Bank Commodity Leveraged Harvest index - weighted according to a dynamic allocation strategy. The index was launched on Oct. 18, 2010.

The payout at maturity will be par plus the index return, which could be positive or negative, minus an adjustment factor of 1.75% per year.

The securities are putable at any time at par plus the index return on the early redemption valuation date less the adjustment factor and an investor redemption fee of 0.5%.

Because of the adjustment factor, the payout at maturity will be less than par if the index does not appreciate by at least 3.5% over the term of the securities.

The securities (Cusip: 2515A1EN7) are expected to price Nov. 22 and settle Nov. 28.

Deutsche Bank Securities Inc. is the agent.

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