Deutsche Bank to price buffered return enhanced notes tied to SPDR KBW Bank ETF via JPMorgan

By Marisa Wong

Madison, Wis., Aug. 10 - Deutsche Bank AG, London Branch plans to price 0% buffered return enhanced notes due Feb. 17, 2011 based on the SPDR KBW Bank exchange-traded fund, according to an FWP filing with the Securities and Exchange Commission.

The payout at maturity will be par plus 1.5 times any fund gain, up to a maximum return of at least 11.625%. The exact cap will be set at pricing.

Investors will receive par if the fund share price falls by up to 10% and will lose 1.1111% for every 1% decline beyond 10%.

The notes (Cusip: 2515A06G3) are expected to price on Aug. 13 and settle on Aug. 18.

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

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