New Issue: Deutsche Bank prices $7 million 0% notes linked to Euro Stoxx

By E. Janene Geiss

Philadelphia, March 28 - Deutsche Bank AG, London Branch priced a $7 million offering of 0% performance securities with contingent protection due March 30, 2012 linked to the Dow Jones Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par of $10 plus 165% of any gain on the index.

If the index does not decline below the trigger level of 2,071.05, 50% of its initial level, the payout will be par. If the index does fall below the trigger at any time during the life of the notes then investors will share in any losses.

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

Issuer:	Deutsche Bank AG, London Branch
Issue:	Performance securities with contingent protection
Underlying index:	Dow Jones Euro Stoxx 50
Amount:	$7 million
Maturity:	March 30, 2012
Coupon:	0%
Price:	Par of $10
Payout at maturity:	Par plus 165% of any index gain; if the index does not decline below the trigger level of 2,071.05, 50% of its initial level, the payout will be par. If the index does fall below the trigger at any time during the life of the notes then investors will share in any losses
Initial index level:	4,142.11
Trigger level:	2,071.05 (50% of initial index level)
Pricing date:	March 26
Settlement date:	March 30
Underwriters:	UBS Financial Services Inc. and Deutsche Bank Securities Inc.
Underwriting discount:	3.5%

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