Deutsche Bank to issue call warrants linked to four Asian currencies against dollar

By Jennifer Chiou

New York, June 4 - Deutsche Bank AG, London Branch plans to price call warrants linked to a basket of four Asian currencies, according to an FWP filing with the Securities and Exchange Commission.

The basket consists of equal weights of the Indonesian rupiah, the Indian rupee, the Malaysian ringgit and the Philippine peso, each against the dollar.

The warrants expire on June 30, 2010.

The warrants will be automatically exercised on the expiration date if the final basket level is greater than the initial basket level. In that case, investors will receive the notional amount per warrant times the index return.

The notional amount is expected to be $400 to $500 per warrant, equal to the issue price of $10 per warrant divided by the warrant premium, which will be 2% to 2.5%. Therefore, investors will lose part of their investment in the warrants if the basket return is positive but less than the warrant premium.

If the final basket level is not greater than the initial level, the warrants will expire worthless and investors will lose their entire investments. Investors may not exercise their warrants prior to the expiration date.

The warrants are expected to price on June 25 and settle on June 30.

UBS Financial Services Inc. is the underwriter.

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