New Issue: Deutsche Bank prices $6.81 million capped BUyS linked to iShares MSCI EAFE, EM funds

By Jennifer Chiou

New York, June 3 - Deutsche Bank AG, London Branch priced $6.81 million of 0% capped Buffered Underlying Securities due June 4, 2012 linked to a basket of exchange-traded funds, according to a 424B2 filing with the Securities and Exchange Commission.

The basket consists of the iShares MSCI EAFE index fund with a 70% weight and the iShares MSCI Emerging Markets index fund with a 30% weight.

The payout at maturity will be par plus 1.25 times any basket gain, up to a maximum return of 48%. Investors will receive par if the basket falls by up to 15% and will lose 1% for each 1% it declines beyond 15%.

Deutsche Bank Securities Inc. is the agent.

Issuer:	Deutsche Bank AG, London Branch
Issue:	Capped Buffered Underlying Securities
Underlying ETFs: iShares MSCI EAFE index fund (70% weight), iShares MSCI Emerging Markets index fund (30% weight)
Amount:	$6,805,000
Maturity:	June 4, 2012
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus 125% of any basket gain, capped at 48%; par if basket falls by 15% or less; 1% loss for every 1% decline beyond 15%
Initial share prices:	$47.84 for MSCI EAFE; $37.40 for MSCI Emerging Markets
Pricing date:	June 1
Settlement date:	June 4
Agent:	Deutsche Bank Securities Inc.
Fees:	0.2%
Cusip:	2515A04U4

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