New Issue: Deutsche Bank prices $8.5 million optimization securities linked to Russell 2000

By Angela McDaniels

Tacoma, Wash., Dec. 27 - Deutsche Bank AG, London Branch priced $8.5 million of 0% optimization securities with contingent return due June 28, 2012 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the final index level is at least 75% of the initial level, the payout at maturity will be par of $10 plus the index return, subject to a minimum return of 8% and a maximum return of 18%.

If the final index level is less than 75% of the initial level, investors will be fully exposed to the decline.

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

Issuer:	Deutsche Bank AG, London Branch
Issue:	Optimization securities with contingent return
Underlying index:	Russell 2000
Amount:	$8,500,550
Maturity:	June 28, 2012
Coupon:	0%
Price:	Par of $10
Payout at maturity:	If final index level is at least 75% of initial level, par plus index return, subject to minimum return of 8% and maximum return of 18%; otherwise, full exposure to index decline
Initial index level:	790.59
Pricing date:	Dec. 22
Settlement date:	Dec. 28
Underwriters:	UBS Financial Services Inc. and Deutsche Bank Securities Inc.
Fees:	2%
Cusip:	25154P733

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