Deutsche Bank plans high/low coupon autocallable notes tied to indexes

By Susanna Moon

Chicago, May 11 - Deutsche Bank AG, London Branch plans to price high/low coupon autocallable securities due May 22, 2013 linked to the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.

A knock-in event occurs if either index falls to or below 75% of its initial level during the life of the notes.

If a knock-in event never occurs, the coupon will be 11% to 17%, with the exact rate to be set at pricing. If a knock-in event occurs during any quarterly observation period, the coupon for that interest period and each subsequent quarterly interest period will be 1%.

The notes will be called at par if both indexes close at or above their initial levels on any observation date.

The payout at maturity will be par unless either index falls to or below its knock-in level during the life of the notes, in which case investors will receive par plus the return of the worst-performing index, up to a maximum payout of par.

Deutsche Bank Securities Inc. is the agent.

The notes will price on May 16 and settle on May 21.

The Cusip number is 2515A1JW2.

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