New Issue: Deutsche sells $10.25 million 10.15% yield optimization notes on Halliburton via UBS

By Marisa Wong

Madison, Wis., Dec. 30 - Deutsche Bank AG, London Branch priced $10.25 million of 10.15% yield optimization notes with contingent protection due Dec. 30, 2011 linked to the common stock of Halliburton Co., according to a 424B2 filing with the Securities and Exchange Commission.

Each note has a face amount of $40.69, which is equal to the initial share price of Halliburton stock.

Interest is payable monthly.

The payout at maturity will be par unless the final share price is less than 80% of the initial share price, in which case the payout will be one Halliburton 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:	Halliburton Co. (Symbol: HAL)
Amount:	$10,254,368.28
Maturity:	Dec. 30, 2011
Coupon:	10.15%, payable monthly
Price:	Par of $40.69
Payout at maturity:	If final share price is less than trigger price, one Halliburton share; otherwise, par
Initial share price:	$40.69
Trigger price:	$32.55, 80% of initial price
Pricing date:	Dec. 29
Settlement date:	Dec. 31
Agents:	UBS Financial Services Inc. and Deutsche Bank Securities Inc.
Fees:	2%
Cusip:	25154P618

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