Deutsche Bank plans principal protected notes linked to DB Liquid Commodity index

By E. Janene Geiss

Philadelphia, Oct. 24 - Deutsche Bank AG, London Branch plans to price an issue of zero-coupon 100% principal protected notes due May 16, 2011 linked to the Deutsche Bank Liquid Commodity Index - Mean Reversion Plus Excess Return, according to an FWP filing with the Securities and Exchange Commission.

The notes are expected to price Nov. 7 and settle Nov. 15.

The index is composed of futures contracts on six commodities - crude oil, heating oil, aluminum, gold, wheat and corn - and its closing level is calculated on an excess return basis.

The payout at maturity will be par plus any gain on the index times a participation rate that will be between 110% and 125%. The exact participation rate will be set at pricing.

Investors will receive at least par.

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

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