Deutsche plans capped knock-out notes linked to Hang Seng index

By Jennifer Chiou

New York, Nov. 14 - Deutsche Bank AG, London Branch plans to price 0% capped knock-out notes due Dec. 4, 2013 linked to the Hang Seng China Enterprises index and the Hong Kong dollar relative to the U.S. dollar, according to an FWP with the Securities and Exchange Commission.

A knock-out event occurs if the final level is less than the initial level by more than 20%. The final level will equal the final index closing level multiplied by the final spot rate.

If a knock-out event does not occur, the payout at maturity will be par any gain, up to a maximum return of 25% and with a minimum return of par.

Otherwise, the payout at maturity will be par plus the return, with exposure to any losses.

The notes (Cusip: 25152RAB9) are expected to price on Nov. 16 and settle on Nov. 21.

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

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