New Issue: Deutsche Bank prices $458,000 BUyS linked to Russell 2000

By Laura Lutz

Des Moines, May 30 - Deutsche Bank AG, London Branch priced a $458,000 offering of 0% Buffered Underlying Securities (BUyS) due May 29, 2009 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par plus any increase in the index, up to a maximum return of 33%. Investors will receive par if the index declines by 10% or less and will lose 1% for each 1% decline beyond 10%.

Issuer:	Deutsche Bank AG, London Branch
Issue:	Buffered Underlying Securities (BUyS)
Underlying index:	Russell 2000 index
Amount:	$458,000
Maturity:	May 29, 2009
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus any gain on the index, up to maximum return of 33%; par if share price declines by 10% or less; 1% loss for each 1% decline beyond 10%
Initial level:	829.93
Pricing date:	May 25
Settlement date:	May 31
Agents:	Deutsche Bank Securities Inc., Deutsche Bank Trust Co. Americas
Fees:	None

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