New Issue: Deutsche sells $1 million principal-protected notes linked to DB Liquid Commodity index

By Angela McDaniels

Tacoma, Wash., Nov. 1 - Deutsche Bank AG, London Branch priced $1 million of zero-coupon 100% principal-protected notes due Nov. 2, 2011 linked to the Deutsche Bank Liquid Commodity Index - Optimum Yield Balanced Excess Return, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par plus 102% of any index gain. Investors will receive at least par.

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

Issuer:	Deutsche Bank AG, London Branch
Issue:	100% principal-protected notes
Underlying index:	Deutsche Bank Liquid Commodity Index - Optimum Yield Balanced Excess Return
Amount:	$1 million
Maturity:	Nov. 2, 2011
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus 102% of any index gain; floor of par
Initial index level:	269.55
Pricing date:	Oct. 30
Settlement date:	Nov. 2
Underwriter:	Deutsche Bank Securities Inc. and Deutsche Bank Trust Co. Americas
Fees:	1.5%

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