New Issue: Deutsche prices $3.47 million return optimization securities tied to S&P 500 via UBS

New York, Nov. 29 - Deutsche Bank AG, London Branch priced $3.47 million of 0% return optimization securities with partial protection due Nov. 30, 2012 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, up to a maximum gain of 20.70%.

Investors will receive par if the index falls by up to 10%. Investors will share in any losses beyond 10%.

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

Issuer:	Deutsche Bank AG, London Branch
Issue:	Return optimization securities with partial protection
Underlying index:	S&P 500
Amount:	$3,471,990
Maturity:	Nov. 30, 2012
Coupon:	0%
Price:	Par of $10
Payout at maturity:	Par plus double any index gain, capped at 20.70%; par if index falls by up to 10%; exposure to losses beyond 10%
Initial level:	1,198.35
Pricing date:	Nov. 24
Settlement date:	Nov. 30
Underwriters:	UBS Financial Services Inc. and Deutsche Bank Securities
Fees:	2%
Cusip:	25154P857

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