New Issue: Deutsche Bank prices $3 million principal protection notes linked to four currencies

By Angela McDaniels

Tacoma, Wash., Dec. 2 - Deutsche Bank AG, London Branch priced $3 million of zero-coupon 100% principal protection notes due Dec. 5, 2012 linked to the performance of a basket of currencies relative to the U.S. dollar, according to a 424B2 filing with the Securities and Exchange Commission.

The basket includes equal weights of the Brazilian real, South African rand, New Zealand dollar and Turkish lira.

The payout at maturity will be par plus 112% of any basket gain. Investors will receive at least par.

Deutsche Bank Securities Inc. is the agent.

Issuer:	Deutsche Bank AG, London Branch
Issue:	100% principal protection notes
Underlying currencies:	Brazilian real, South African rand, New Zealand dollar and Turkish lira, equally weighted
Amount:	$3 million
Maturity:	Dec. 5, 2012
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus 112% of any basket appreciation relative to U.S. dollar; floor of par
Initial exchange rates:	1.7505 reais per U.S. dollar; 7.43225 rand per U.S. dollar; 0.71525 U.S. dollars per New Zealand dollar; 1.5294 liras per U.S. dollar
Pricing date:	Nov. 30
Settlement date:	Dec. 3
Agent:	Deutsche Bank Securities Inc.
Fees:	1.25%

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