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Published on 11/28/2007 in the Prospect News Structured Products Daily.

New Issue: Deutsche Bank sells $1.03 million 0% EARNs linked to three indexes

By Laura Lutz

Des Moines, Nov. 28 - Deutsche Bank AG, London Branch priced a $1.03 million issue of 0% Efficient Allocation Return Notes (EARNs) due May 31, 2012 linked to the S&P 500, MSCI Emerging Markets and MSCI EAFE indexes, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par plus 50% of the highest index return, 30% of the second-highest index return and 20% of the lowest index return. There is a floor of par.

The final level for each index will be the average of that index's closing levels on the 25th day of each February, May, August and November during the life of the notes.

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

Issuer:Deutsche Bank AG, London Branch
Issue:Efficient Allocation Return Notes
Underlying indexes:S&P 500, MSCI Emerging Markets and MSCI EAFE
Amount:$1,032,000
Maturity:May 31, 2012
Coupon:0%
Price:Par
Payout at maturity:Par plus 50% of highest index return, 30% of second-highest index return and 20% of lowest index return; floor of par
Initial levels:1,428.23 for S&P 500; 1,187.93 for MSCI Emerging Markets; 2,243.43 for MSCI EAFE
Pricing date:Nov. 27
Settlement date:Nov. 30
Underwriters:Deutsche Bank Securities Inc., Deutsche Bank Trust Co. Americas
Fees:None

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