Deutsche plans review notes linked to Brent crude oil futures

By Jennifer Chiou

New York, Nov. 7 - Deutsche Bank AG, London Branch plans to price 0% review notes due Nov. 21, 2012 linked to the Brent crude oil futures contract, according to an FWP with the Securities and Exchange Commission.

The notes will be automatically called if the contract price on any review date is greater than or equal to 95% of the initial contract price. The redemption amount will be par plus an annualized call premium of at least 23.5% that will be set at pricing. The review dates are Feb. 15, May 11, 2012, Aug. 17, 2012 and Nov. 16, 2012.

If the notes are not called and the ending contract price is at least 90% of the initial contract price, the payout at maturity will be par. Otherwise, investors will be exposed to the decline in the contract price at a rate of 1.1111% per 1% drop beyond the buffer.

The notes (Cusip: 2515A1EG1) are expected to price on Nov. 11 and settle on Nov. 16.

JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC will be the agents.

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