Deutsche Bank plans market contribution notes tied to Liquid Commodity

By Angela McDaniels

Tacoma, Wash., April 20 - Deutsche Bank AG, London Branch plans to price 0% market contribution securities due May 21, 2015 linked to the Deutsche Bank Liquid Commodity Index - Mean Reversion Plus Total Return, according to an FWP filing with the Securities and Exchange Commission.

The notes are putable beginning May 30, 2013.

The payout upon redemption or at maturity will be par plus the index return minus an adjustment factor of 2% per year. If the index does not appreciate by 6.01% or more over the term of the securities, investors will receive less than par.

The index is based on the Deutsche Bank Liquid Commodity Index - Mean Reversion Total Return (the "underlying index"), which is composed of futures contracts on heating oil, crude oil, aluminum, gold, wheat and corn. The underlying index systematically adjusts their weighting to assign higher weights to those commodities trading in a lower price range and lower weights to those commodities trading in a higher price range, in each case based on the ratio of their one-year to five-year moving average prices.

The Plus index is designed to reflect a momentum strategy of investing fully or partially in the underlying index according to a formula that measures how the underlying index has performed during the previous 12 months.

The notes (Cusip: 2515A1JK8) are expected to price May 17 and settle May 22.

Deutsche Bank Securities Inc. is the agent.

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