New Issue: Deutsche Bank prices $43.13 million return optimization securities linked to S&P 500

By Jennifer Chiou

New York, Jan. 30 - Deutsche Bank AG, London Branch priced a $43.13 million issue of 0% return optimization securities with partial protection due July 31, 2009 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par of $10 plus double any index gain, subject to a maximum payout of par plus 18%. Investors will receive par for losses up to 10% and will share in any index decline beyond 10%.

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

Issuer:	Deutsche Bank AG, London Branch
Issue:	Return optimization securities with partial protection
Underlying index:	S&P 500
Amount:	$43,126,730
Maturity:	July 31, 2009
Coupon:	0%
Price:	Par of $10
Payout at maturity:	Par plus double any index gain, capped at 18% maximum return; par for losses up to 10%; investors will share in any index decline beyond 10%
Initial index level:	1,353.97
Pricing date:	Jan. 28
Settlement date:	Jan. 31
Agents:	UBS Financial Services Inc. and Deutsche Bank Securities Inc.
Fees:	1.75%

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