Deutsche Bank plans return optimization notes tied to S&P 500 via UBS

By Angela McDaniels

Tacoma, Wash., June 30 - Deutsche Bank AG, London Branch plans to price 0% return optimization securities with partial protection due Jan. 31, 2012 linked to the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.

The payout at maturity will be par of $10 plus double any index gain, subject to a maximum return of 17% to 19.5% that will be set at pricing. Investors will receive par if the index declines by 10% or less and will be exposed to any decline beyond 10%.

The notes are expected to price July 27 and settle July 30.

UBS Financial Services Inc. and Deutsche Bank Securities Inc. are the underwriters.

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