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Published on 12/20/2011 in the Prospect News Structured Products Daily.

New Issue: Deutsche Bank prices $4.69 million buffered return optimization securities on gold

By Susanna Moon

Chicago, Dec. 20 - Deutsche Bank AG, London Branch priced $4.69 million of buffered return optimization securities due Dec. 19, 2013 linked to the price of gold, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par of $10 plus 1.5 times any gain in the price of gold, up to a maximum return of 30%.

Investors will receive par if gold falls by up to 10% and will be exposed to losses beyond 10%.

UBS Financial Services Inc. and Deutsche Bank Securities Inc. are the agents.

Issuer:Deutsche Bank AG, London Branch
Issue:Buffered return optimization securities
Underlying commodity:Gold
Amount:$4,689,750
Maturity:Dec. 19, 2013
Coupon:0%
Price:Par of $10
Payout at maturity:Par plus 150% of any gain in gold price, capped at 30%; par for losses of up to 10%; exposure to losses beyond 10%
Initial price:$1,594.00
Pricing date:Dec. 16
Settlement date:Dec. 21
Agents:UBS Financial Services Inc. and Deutsche Bank Securities Inc.
Fees:2%
Cusip:25154P147

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