Deutsche plans buffered return enhanced notes on two currency baskets

By Jennifer Chiou

New York, July 13 - Deutsche Bank AG, London Branch plans to price 0% buffered return enhanced notes due Aug. 3, 2011 linked to the performance of a long basket of three currencies versus a short basket containing equal weights of the Japanese yen and the dollar, according to an FWP filing with the Securities and Exchange Commission.

The long basket includes equal weights of the Brazilian real, Turkish lira and the Indonesian rupiah.

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

The payout at maturity will be par plus 3.05 times any gain in the long basket against the short basket, capped at 30.5%.

Investors will receive par if the long basket falls by up to 10% and will lose 1.1111% for every 1% decline beyond 10%.

The notes are expected to price on July 16 and settle on July 21.

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