Deutsche Bank plans return enhanced notes on two currencies, euro

By Marisa Wong

Madison, Wis., July 13 - Deutsche Bank AG, London Branch plans to price 0% return enhanced notes due Aug. 3, 2011 linked to the performance of a basket of two currencies relative to the euro, according to an FWP filing with the Securities and Exchange Commission.

The basket includes equal weights of the Canadian dollar and Mexican peso.

If the basket appreciates relative to the euro, the payout at maturity will be par plus at least 1.95 times the gain, subject to a maximum return of at least 19.5%. The exact upside leverage factor and cap will be set at pricing.

Investors will be exposed to any depreciation in the basket relative to the euro.

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

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

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