Deutsche Bank plans capped knock-out notes linked to seven stocks

By Marisa Wong

Madison, Wis., June 26 - Deutsche Bank AG, London Branch plans to price 0% capped knock-out notes due July 17, 2013 linked to a basket of seven stocks, according to an FWP filing with the Securities and Exchange Commission.

The equally weighted basket includes the common stocks of Cenovus Energy, Inc., ConocoPhillips, Exxon Mobil Corp. and Occidental Petroleum Corp. and the American Depositary Shares of BP plc, Royal Dutch Shell plc and Total SA.

A knock-out event occurs if the basket level on the final valuation date has fallen by more than 20% relative to the initial level.

If a knock-out event occurs, the payout at maturity will be par plus the basket return. Investors will be fully exposed to losses.

If a knock-out event does not occur, the payout will be par plus the basket return, subject to a contingent minimum return of 4.4% and a maximum return of 20%.

The notes (Cusip: 2515A1KP5) are expected to price June 29 and settle July 5.

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

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