New Issue: Deutsche Bank prices $749,998 10.3% yield optimization notes linked to General Electric

By Angela McDaniels

Tacoma, Wash., July 12 - Deutsche Bank AG, London Branch priced $749,998 of 10.3% yield optimization notes with contingent protection due July 14, 2011 linked to the common stock of General Electric Co., 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 General Electric stock.

Interest is payable monthly.

The payout at maturity will be par unless the final share price is less than 70% of the initial share price, in which case the payout will be one General Electric 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:	General Electric Co. (NYSE: GE)
Amount:	$749,997.59
Maturity:	July 14, 2011
Coupon:	10.3%, payable monthly
Price:	Par of $14.83
Payout at maturity:	If final share price is less than trigger price, one General Electric share; otherwise, par
Initial share price:	$14.83
Trigger price:	$10.381, 70% of initial price
Pricing date:	July 8
Settlement date:	July 13
Agents:	UBS Financial Services Inc. and Deutsche Bank Securities Inc.
Fees:	2%
Cusip:	25154N373

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