New Issue: Deutsche prices $1.5 million 14.25% yield optimization notes tied to MGM Resorts via UBS

By Jennifer Chiou

New York, Dec. 27 - Deutsche Bank AG, London Branch priced $1.5 million of 14.25% yield optimization notes with contingent protection due Dec. 29, 2011 linked to the common stock of MGM Resorts International, according to a 424B2 filing with the Securities and Exchange Commission.

The face amount of each note is equal to the initial share price of MGM Resorts stock.

Interest is payable monthly.

The payout at maturity will be par unless the final share price is less than 65% of the initial share price, in which case the payout will be one MGM Resorts share per note.

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

Issuer:	Deutsche Bank AG, London Branch
Issue:	Yield optimization notes with contingent protection
Underlying stock:	MGM Resorts International (NYSE: MGM)
Amount:	$1,499,985.36
Maturity:	Dec. 29, 2011
Coupon:	14.25%, payable monthly
Price:	Par of $14.73
Payout at maturity:	If final share price is less than trigger price, one MGM Resorts share; otherwise, par
Initial share price:	$14.73
Trigger price:	$9.57, 65% of initial price
Pricing date:	Dec. 22
Settlement date:	Dec. 28
Agents:	UBS Financial Services Inc. and Deutsche Bank Securities Inc.
Fees:	2%
Cusip:	25154P634

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