Deutsche Bank to price floaters linked to two commodity indexes

By Angela McDaniels

Tacoma, Wash., June 6 - Deutsche Bank AG, London Branch plans to price floating-rate securities due July 11, 2013 linked to a basket of commodity indexes, according to an FWP filing with the Securities and Exchange Commission.

The basket includes the S&P GSCI Gold Index - Total Return with a 75% weight and the Deutsche Bank Commodity Booster OYE Benchmark Light Energy Total Return index with a 25% weight. The former is a single-commodity sub-index of the S&P GSCI Total Return. The latter is composed of futures contracts on physical commodities included in the S&P GSCI Light Energy index and seeks to outperform the S&P GSCI Light Energy index by selecting constituent commodity futures contracts using Deutsche Bank's proprietary Optimum Yield Enhanced methodology.

The interest rate is one-month Libor minus 16 basis points. Interest is payable monthly.

The notes are putable at any time, and they will be called if the basket declines by 15% or more. Holders who put back less than all of their notes must put back at least $1 million of notes and continue to hold $10,000 of notes following the put option.

The payout upon redemption or at maturity will be par plus triple the sum of the basket return minus the TBill return minus the adjustment factor, which is the greater of a flat 0.06% and 0.3% per year.

The TBill return will be the sum of the 91-day weekly auction high rates for Treasury bills for each day during the life of the securities.

The notes (Cusip: 2515A1KG5) are expected to price June 7 and settle June 12.

Deutsche Bank Securities Inc. and Deutsche Bank Trust Co. Americas are the underwriters.

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