New Issue: Nuveen, Merrill price $250 million Elements on Benjamin Graham Large Cap for Deutsche

By Jennifer Chiou

New York, Aug. 7 - Deutsche Bank, London Branch priced $250 million of 0% Elements due Aug. 14, 2023 linked to the Benjamin Graham Large Cap Value Index - Total Return via agents Nuveen Investments and Merrill Lynch & Co., according to a 424B2 filing with the Securities and Exchange Commission.

At maturity, investors will receive par of $10 plus the index performance, less an annual investor fee of 0.75% times the proportion of days elapsed.

Beginning Aug. 13, 2008, holders may put back the securities for repurchase, with a minimum of $2.5 million of principal.

Deutsche may call the securities in whole beginning on Aug. 8, 2011 if the outstanding principal amount is $5 million or less.

Issuer:	Deutsche Bank, London Branch
Issue:	Elements
Underlying index:	Benjamin Graham Large Cap Value Index - Total Return
Amount:	$250 million
Maturity:	Aug. 14, 2023
Coupon:	0%
Price:	Par of $10
Payout at maturity:	Par plus the index performance, less an annual investor fee of 0.75% times the proportion of days elapsed
Put:	Beginning Aug. 13, 2008; minimum of $2.5 million
Call:	Beginning Aug. 8, 2011 if the outstanding principal amount is $5 million or less
Initial level:	268.38
Pricing date:	Aug. 6
Settlement date:	Aug. 12
Agents:	Nuveen Investments and Merrill Lynch & Co.
Fees:	Between 0.35% and 0.75%
Listing:	NYSE Arca: BVL

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